So I joined MF on a basic service, then was bombarded with offers of services that claim significantly better performance then the S&P500 ETC. After careful consideration and reading their growth statements I upgraded my service to Blast off 21, at nearly $2000AUD, and invested a significant amount of money!
After nearly 6 months the portfolio is over 20% down, whilst the S&P is 15% up. They state to hold for 3 years for returns, that said the current losses will most likely take at least a year to recover, if they do.
When I wrote to them asking what, or if there is a strategy to help improve the performance of the portfolio. I receive an unbelievable response stating "they take no responsibility for the performance of the recommendations", and I am "responsible for the investments", even though the whole intention of the service is to recommend stocks and follow their recommendations to the letter, which I initially did. Along with some statements clearly expressing their legal responsibility.
So you will only hear about the wins and the outstanding performance of some of their stocks, but not the losses, and don't expect MF to offer any useful responses to when they don't perform.
Of course all companies will state their wins, I completely understand this, but its when things go wrong that the true measure of a company and its customer service will be evident.
I also understand that stocks can go down significantly with market swings. But when a service is openly and clearly marketed, and sold on its performance to against another and then fails miserably one has the right to be upset.
The most disappointing part was their response to my question.
This clearly showed them to be a marketing company and not a true investment advisory company