Vestar Sale worries investors

Vestar clients have flooded Exposing Unacceptable Financial activities [EUFA] with calls of despair after receiving a letter from Gould Holdings Ltd, prospective buyers of the financial advisor company Vestar.

Some Vestar clients, members of EUFA have expressed grave concerns about what impact the sale of Vestar may have on their ability to resolve the grievance s they have registered against the legitimacy of the advice they received from their Vestar advisors.

EUFA is presenting Australian Consumer Advocate, Denise Brailey to expose the key issues involved at meetings arranged with Vestar clients, in Auckland during the coming week.

The common concern from investors is the fact that a sale may hinder any action the group may be forced to take against Vestar and/or individual advisors.

Questionnaires have been filled out by many of the EUFA members to give a background on their individual investment situation.

Finance spokesman Gray Eatwell said from Tauranga this morning “The Vestar clients who have joined EUFA feel they have a grievance and some have laid complaints against their Vestar advisor to the IFA. We need to get legal advice on whether the Vestar advisors have met the industry standard code of conduct and/or securities regulations”

Coordinator Suzanne Edmonds said “The proposed purchaser has been in contact with us and we must ensure that any sale will achieve a win win situation for all parties”