Aussie Rob - Lifestyle Trader in BIG Trouble?

Hello

Everyone, anyone had any contact with Aussie Rob and Lifestyle trader they owe me money and are not answering calls.

I have heard they are in some real financial difficulty laying off staff in Australia and everywhere else.

Anyone else heard?>

Always be wary of buying anything that has 'lifestyle' contained in its marketing.

anley said:

Always be wary of buying anything that has 'lifestyle' contained in its marketing.

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or when it comes down to it, "Aussie".

Only you could post that and get away with it.

why do they owe you money ?

tradetolose said:

Hello

Everyone, anyone had any contact with Aussie Rob and Lifestyle trader they owe me money and are not answering calls.

I have heard they are in some real financial difficulty laying off staff in Australia and everywhere else.

Anyone else heard?>

Click to expand...

I'm the CEO of Lifestyle Asset Management, the parent company of Lifestyle Trader. We are in a great financial position. I'm not sure how we owe you, but if you call our 1800# and ask to talk to me, I will personally follow-up your concern. Murray Priestley

hzqt1k said:

I'm the CEO of Lifestyle Asset Management, the parent company of Lifestyle Trader. We are in a great financial position. I'm not sure how we owe you, but if you call our 1800# and ask to talk to me, I will personally follow-up your concern. Murray Priestley

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The Australian Securities and Investment Commissionhas recently issued this statement regarding Lifestyle Trader.

Australian Securities and Investments Commission - 11-161AD ASIC accepts ‘Aussie Rob’ EU

11-161AD ASIC accepts ‘Aussie Rob’ enforceable undertaking

Tuesday 9 August 2011


ASIC has accepted an enforceable undertaking (EU) from a Queensland-based options trader and his associated companies following an investigation into misleading and deceptive conduct in the marketing of share trading software.

Between August 2008 and July 2010 Rob Wilson, also known as ‘Aussie Rob’, and Gold Coast-based companies Lifestyle Investor Services Pty Ltd and Lifestyle Trader Pty Ltd marketed and sold options trading software known as ‘Lifestyle Options – Share Rental’ and offered steps on how to use the product.

ASIC found that statements made by Mr Wilson, who is from Hervey Bay, and the two companies in marketing the software were misleading and deceptive. These statements included:

“Writing covered calls is the same as ‘Share Rental’ or renting out real estate”;
“Options trading is easy”; and
“Returns of 5-10 per cent per month and 60-120 per cent per year can consistently be achieved through use of Lifestyle Options – Share Rental”

Mr Wilson’s and the two companies’ EU includes an agreement to permanently refrain from using the above phrases in connection with options trading.

Lifestyle Investor Services Pty Ltd and Lifestyle Trader Pty Ltd have also agreed to provide a refund to people who bought the product after one or more of the misleading and deceptive statements were made to them.

Under the EU, the companies will write to the relevant clients and provide them with information to help them claim any refund that they may be entitled to.

The EU also requires Lifestyle Investor Services Pty Ltd , for a period of 12 months, to ensure all of its advertising material or that of its authorised representatives - in connection with any options trading product - which is marketed or distributed, is assessed by a lawyer for compliance with applicable laws prior to publication.

Lifestyle Investor Services Pty Ltd’s compliance with this requirement will be reviewed by an independent expert who will regularly report to ASIC.

View the enforceable undertaking

anley said:

Always be wary of buying anything that has 'lifestyle' contained in its marketing.

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Yeh...also if it's based on the Gold Coast. The home of drug dealers, juiced up bodybuilders and plastic surgeons.

The business has gone bust, and are trying to rebrand it

ASIC ruling takes toll on Aussie Rob Local Business | goldcoast.com.au | Gold Coast, Queensland, Australia

If only he's put his money where his marketing was, ie 5%-10% easy money returns, he'd be one of the richest men in Aus.

Folks, whenever anyone talks about options and specifically 'covered call' strategies, suggesting easy money in the 5% region a month can be earned, you're being setup.

Just look at this guy for proof.

Doji Darren and Winters have also long used the 5% a month crap. You've all been warned.

jakeo said:

The business has gone bust, and are trying to rebrand it

ASIC ruling takes toll on Aussie Rob Local Business | goldcoast.com.au | Gold Coast, Queensland, Australia

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I just had a look at the website of the new company (Investment Capital Systems Pty Ltd) that bought the busted Lifestyle Trader company from Aussie Rob .

Some funny/dubious things from the new company's website:

First, the website of the new company has NO details as to their location (only a PO box on the infamous Gold Coast in Australia and an anonymous 1300 phone number) and NO details about who the Directors of the company are.

Also, Investment Capital Systems Pty Ltd ABN 67 146 410 353 is an authorised representative 415281 of Lifestyle Investor Services Pty Ltd - ABN 27 120 224 482 AFSL 325184.
So they are still using the services of a now defunct company?

The program is structured using a Multi Account Manager (MAM) system, where trades are placed in a central account and subsequently filtered to the accounts of individuals who have requested trades during that period.. What? There is NO separation of accounts?

Investors in the FX Swing 1 system will be required to open and fund a trading account with Alpha Broking.
Why is it necessary to use only their broker? And who are these brokers anyway? Security of traders funds is paramount and being forced to trade with some tiny brokerage with unknown financial backing is just asking to be ripped off.

Any body who deals with a company like this deserves to be ripped off for every cent they pay to the company

hzqt1k said:

I'm the CEO of Lifestyle Asset Management, the parent company of Lifestyle Trader. We are in a great financial position. I'm not sure how we owe you, but if you call our 1800# and ask to talk to me, I will personally follow-up your concern. Murray Priestley

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So, Murray what went wrong with LT under your leadership as CEO now that the company is now in financial ruin????

And did you not write a book on the subject, The Great business Shape Up - It would have been nice for you to have read it, instead of now putting a lot of people through financial hell.

I'm trying to think of where I have heard this name before, was it Optionetics, or maybe just on the Aussie Stock Forum... hmmm

MoonRocket said:

Yeh...also if it's based on the Gold Coast. The home of drug dealers, juiced up bodybuilders and plastic surgeons.

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Not everyone on the Gold Coast is what you describe, sure there is plenty within the 20-30 year old bracket but not all, and what's wrong with looking all beefed up and pretty while trading ha ha i mean selling your software/scam system.

anley said:

Folks, whenever anyone talks about options and specifically 'covered call' strategies, suggesting easy money in the 5% region a month can be earned, you're being setup.

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Covered Calls - easy money, I agree one should look cautiously but maybe their use of 'easy money' was just the wrong choice of words.

What about if someone (a Mentor) can back-up a 20-40% monthly gain using Options, does your 'being setup' still apply.
I think it is a bit unfair to label Option trading success this harsh or be so sceptical as there are people out there actually succeeding very nicely using Options.
What people should probably look at, is staying clear of the big businesses that are nothing more than software selling, useless educating schemes that pray on the confused and easily misled.

Happy trading and stay safe... Remember, Bulls make money, Bears make money, Pigs get slaughtered.

"The program is structured using a Multi Account Manager (MAM) system, where trades are placed in a central account and subsequently filtered to the accounts of individuals who have requested trades during that period.. What? There is NO separation of accounts?"

This is common with auto-trading systems Shewolf, and yes the accounts are segregated. What they do is enter the trade as one bulk order, because it will be too difficult and time comsuming, not to mention too risky, to enter the trade as a heap of seperate orders for their clients. Plus everyone would be getting filled at different prices.

Once they have filled all of the positions required using the one bulk order, the trades are then allocated to the individual and segregated accounts at an average price.

Where you do need to be careful though is when the trading house enters the trade using their house account, then adds a few points for themselves, then use their own clients to exit the trade.

This is highly illegal.

Yes Lifestyle Trader are in big trouble. ASIC have a court hearing this Monday 16th April 2012 to wind up Lifestyle Trader - the so called Aussie Rob, Rob Wilson - Director and Murray Priestley CEO. All the staff new that they were trading insolvent for many many months but now finally ASIC seems to have the same opinion that Lifestyle were trading for several months insolvent and STILL took people's money. They ripped out the assets and moved the assets to the 3 newly created companies.

If ASIC are successful (I am sure ASIC MUST feel they have a very good case) these newly created companies that took the assets will probably be forced to shut down.... LOL

About time ASIC started to STOP companies like this on the Gold Coast

Alpha Capital Management
ICS - Investment Capital Systems
IE - Investor Edge - Southport

Understand through the grapevine, that good old Aussie rob is on a cruise with 400+ of his fellow scammers off Florida networking and recruiting more ******s for his private wealth disconnect company. Also heard that he left Australia dumping his wife and leaving her to clean up his crap.
He apparently on Facebook tells everyone he is in Thailand and moving to Laos .... I guess the Thai government won't extend his visa.
All the banks have moved in and repossed everything, he owns nothing, i suspect up on charges which is why he did a runner to Thailand. The guy is a complete fraud,scammer, theif, liar, robber, ******.
Stay as far away from his as you can, Robert Lloyd Wilson will disconnect your private wealth faster than you can blink an eye.
He has his own bank now in panama, like who would give their money to him to look after? He couldn't even look after his own money. He cannot. He trusted.

Yes John that seems to be the go. It seems he has another appointment later this year, see here:

http://www.trade2win.com/boards/educational-resources/43322-lifestyle-trader-25.html