Remarkable Retirement Co

subway

have been hearing these advertising on the radio recently.
offering to double your money in 3 years. i am wondering how they are avoiding regualtion / legislation.

http://remarkableretirementco.com/?page_id=6

We can take your non performing pension funds in Ireland or the UK and savings accounts and turn them into investments that return up to 40% pa capital growth and 10% income

various other claims such as the above are made on the site.
no sign of them being regualted or any of the usual "investments can fall as well as rise, you may end up with less than your initial investment"

mainly i am interested to know if what they are doing (and how they are doing it) is legal. i am not interested in joining up to a managed property fund that offers the world.

homer911

I wouldnt trust them with my money

They dont feature on the Central Bank Registers
http://registers.financialregulator.ie/FirmSearchPage.aspx

coylemj

No mailing address and both the UK and Irish phone numbers are mobiles, avoid like the plague.

Same mobile phone number as this website..

http://www.makemerich.ie/

WHOIS search results for: REMARKABLERETIREMENTCO.COM (Registered)

Registrant:
Make Me Rich Ltd

21 Kincora Court
Clontarf
Dublin 3, .
Ireland

Registered through: Domains in Seconds
Domain Name: REMARKABLERETIREMENTCO.COM
Created on: 11-Aug-11
Expires on: 11-Aug-12
Last Updated on: 11-Aug-11

Administrative Contact:
Brennan, Catherine catherine@makemerich.ie
Make Me Rich Ltd
21 Kincora Court
Clontarf
Dublin 3, .
Ireland
+353.866078872

Technical Contact:
Brennan, Catherine catherine@makemerich.ie
Make Me Rich Ltd
21 Kincora Court
Clontarf
Dublin 3, .
Ireland
+353.866078872

subway

thanks for the extra info guys, but i am more wondering if they are acting outside the law? and if so, who should they be reported to.

homer911

You could probably just email the Central Bank about them
http://www.centralbank.ie/publicinformation/Pages/default.aspx

neris

I heard that ad this morning while stuck in traffic and had a laugh when i heard teh double your money in 3 years tripe been spouted out. bet you when you go to fill out forms they dont stand over that. As for the holding company "make me rich" im sure you would be making them rich

subway

thanks for the replies so far, have sent off a brief mail to enquiries@financialombudsman.ie to see if they can advise me

cooperguy

subway wrote: »

thanks for the replies so far, have sent off a brief mail to enquiries@financialombudsman.ie to see if they can advise me

Keep us updated!

Dav

Hello there folks, Catherine Brennan who is the owner of Remarkable Retirement has been in touch and wanted to clarify several things here, so I'm making the following post on her behalf.

Remarkable Retirement wrote:

• We are not a managed fund.
  
  
• You don’t give us your money, you make investments via a solicitor. We do not handle your money at any point.
  
  
• We are not a trustee company, to have a self adminstered pension you must have a trustee company.
  
  
• What we do is we promote high end property investments abroad with debt free uk developers. These products are suitable for self adminstered pensions here in Ireland. As regards regulation property abroad is an unregulated investment - that is laid down by the regulator, not for me to decide.
  
  
• At this current time all we do is high end property investments but there is other products that can go into self adminstered and some of them require regulation so if we wished to promote them we would need regulation.
  
  
• We are in touch with the regulator as we have been over the years of Make Me Rich doing business to ensure we meet our requirements
  
  
• Our accounts and tax returns are up to date and can be viewed of course as anyone elses
  
  
• I am not a QFA as not very many property agents are. I am a fully qualified accountant for over 14 years. I have owned and ran an accountancy business which i sold 4 years ago and all this info is available online.
  
  
• The reason I dont list an address on the website is that I split my time between Dublin and Mayo and therefore I ask people to post things back to me at appropriate address at time. Registered address is as noted: 21 Kincora Court, Clontarf.
  
  
• Noting that investments can go down as well as up - I will double check this one but my understanding is that comment applies only to regulated entities also.
  
  
• The new website is simply to let people know that the investments are suitable for self administered funds. The products themselves are the same as the ones i have promoted for years.

subway

thanks dav.

i guess that answers all my questions and, at least its a transparent answer, which i would not feel goes the same for the radio ad that prompted me to post initially. that, however, is just my opinion rather than any apparent breach of requirement.

finally, i just want to comment that i find it dissapointing that high risk, unregulated investments are allowed (or need to) promote themselves on radio stations as an alternative to ordinary pension funds etc.

krd

I thought I recognised that address. 21 Kincora court.

And I did. My mind has so much junk in it.

It's the address of PB Brennan Building and Civil Engineering Limited.

http://www.insolvencyjournal.ie/home_more_details/11-05-23/PB_Brennan_Building_and_Civil_Engineering_Limited.aspx

Catherine and Mike Brennan.

It looks like Catherine Brennan is looking for funds for some property speculating.

There's something else about that address - I can't remember and google isn't giving me anything.

Anyway, I think it's a typical boom time builder gone bust story.

iminireland

This is a quote from one of their websites:

"Even the most cautious property investment we currently offer has a guaranteed return of 90% in ten years so, while the pension fund managers are averaging 3-4% per year playing the stock market, you can be earning a minimum of 9% per annum investing in property. And that’s not even counting the hundreds of pensions that have been mismanaged and have actually lost money"

Last time I checked 9% per annum over 10 years is equal to a return of 137%.