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Post by Ace on Oct 30, 2019 14:58:12 GMT
I've often wondered; when one qualifies as both a sophisticated and an HNW investor, does it make any difference which category is selected?
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Post by danraj on Nov 1, 2019 9:11:58 GMT
I've often wondered; when one qualifies as both a sophisticated and an HNW investor, does it make any difference which category is selected? It depends on the T&Cs of the platform, but also the regulator will consider the vulnerability of the customer for certain issues. In this regard, retail /restricted investors may rank above sophistocated & HNW lenders.
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aju
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Post by aju on Nov 1, 2019 12:30:35 GMT
So is the regulator vetting each customer as they come in or is it just that the regs have been set and they are trusting the platform to make the right decisions during the entry point fact gathering process.
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Post by Ace on Nov 1, 2019 12:32:10 GMT
I've often wondered; when one qualifies as both a sophisticated and an HNW investor, does it make any difference which category is selected? It depends on the T&Cs of the platform, but also the regulator will consider the vulnerability of the customer for certain issues. In this regard, retail /restricted investors may rank above sophistocated & HNW lenders. Thanks for replying. I guess I didn't make myself clear. Yes, I understand the difference between retail/restricted and sophisticated/HNW investors. What I was wondering was whether there was any difference in treatment between those in the sophisticated and HNW investor categories. There must be many investors like myself that can qualify as both sophisticated and HNW according to the rules (not that I feel in the least sophisticated or HNW), and was therefore wondering which category of these two would be best to choose.
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pip
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Post by pip on Nov 1, 2019 13:16:03 GMT
Can I be a vulnerable retail investor please! Does that mean that if something goes wrong somebody else is responsible? If so count me in.
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Post by Ace on Nov 1, 2019 14:37:45 GMT
Can I be a vulnerable retail investor please! Does that mean that if something goes wrong somebody else is responsible? If so count me in. You probably can, but then you'd miss out on all those "exciting" opportunities 😉
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bigfoot12
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Post by bigfoot12 on Nov 1, 2019 16:26:04 GMT
I've often wondered; when one qualifies as both a sophisticated and an HNW investor, does it make any difference which category is selected? My first two unlisted investments which entitled my to be a self certified sophisticated investor both went bust pretty quickly! I've never managed to find out. I have asked others and searched without any success.
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pip
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Post by pip on Nov 1, 2019 16:47:52 GMT
I've often wondered; when one qualifies as both a sophisticated and an HNW investor, does it make any difference which category is selected? My first two unlisted investments which entitled my to be a self certified sophisticated investor both went bust pretty quickly! I've never managed to find out. I have asked others and searched without any success. I am definitely not sophisticated, I need protecting from myself!
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Post by danraj on Nov 2, 2019 12:20:24 GMT
I used to think of my self as High Net Worth, then I started a p2p lending platform. My lending portfolio is doing well, but my business has taken a lot more investment that I ever expected to reach breakeven.
The clasification can evolve. Its up to each platform to consider what is appropriate for its customers, depending on how they are classified.
Personally, I have always thought the protections (provided to retail investors) should also apply to HNWs, but its a way of identifying a 'more vulnerable' group, which may need further protection.
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Post by dan1 on Nov 12, 2019 16:46:50 GMT
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Post by propman on Nov 12, 2019 18:30:52 GMT
If that happens, then I can't see most non-HNWI paying for financial advice to enter this. Does anyone here receive Financial advice on their P2P? With P2P companies not paying commision, (I think it is a small number of advisers that would be recommending it.
I know that the FCA dismissed having different rules for different P2P companies, but while this approach might make sense for 10%+ higher risk lending to specific known borrowers, how could it possibly work with the lack of info at the lower paying sites?
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macq
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Post by macq on Nov 12, 2019 18:51:49 GMT
not sure how many new p2p investors there will be in the future and with the news of the last year it may be a non issue about advice or not. But after Woodford should the same not be true of funds,is crypto any safer then p2p maybe advice need there,all the trouble with mini bonds do we leave them alone?Why not look after people keeping money paying 0.2% in instant access when 1.4% is out there?
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star dust
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Post by star dust on Nov 12, 2019 19:12:57 GMT
There's no real thread for this but:
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Nov 12, 2019 20:01:42 GMT
The story has got it all wrong, the defecating was on Collateral Investor/Lenders. m.youtube.com/watch?v=iAAmts-TdGg&t=11m46s ( <- as recently reminded by northender ) |
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travolta
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Post by travolta on Nov 12, 2019 20:50:11 GMT
Stealing plants! What depravity...
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