Marketing Tactics of Barclay MIS Protect and Collect .

Rixter

Rixter

So as not to highjack This thread - ...I have started this new thread in relation to follow up questions to CEO David Banks of Barclay MIS Protect and Collect.

The question I posed on 18/6/12 as yet has not been answered.

The Question awaiting an answer from David on, is as per transcript below .....

Hi David,

Thanks for your clarification on this matter.

The main issues I have with it is as follows...

You state the form is to notify my PM NOT to renew the cover and go on my Management File at their office here in Perth. Why then is the slip & envelope addressed to you in Wynnum Qld?

I think you may also find that what you are doing in relation to automatically charging a renewal to someone for a product/service that they have not/never requested, is in fact illegal and in breach of the trade practices act. Have you researched into this?

I will be strongly advising my PM to seek legal opinion also before automatically debiting anyone else's account.

Lastly the question needs to be asked of my PM, why are they divulging my confidential business affairs without my authorisation, for you to record and initiate policy coverage on me?

I look forward to your response.
 
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I had the same issue as you whenI received my first notification and then and tried contacting them after about the 4th one came in.

Apart from the poor older lady at front desk, no one wants to talk to you.

In the end, I forwarded a letter by email, post and fax advising that my existing and any new IP's are not to be spammed by his company via any PM.

Further, I advised all my PM's that if they wanted to engage in this companies policy, I would move to another agencies.

Seems to have worked to date.
 
David, I note with interest that you place emphasis on the fact that your "policies" are NOT an insurance product. My curiosity sparked by this language, I then discovered that ASIC, in 2003, obtained court orders against BarclayMIS regarding selling insurance policies without an Australian Financial Services Licence. Now that was nearly 10 years ago, so I'm not trying to roast BarclayMIS over an old incident which may well have been due to obtaining bad advice, as I accept that that can happen.

But I note with interest at the bottom of that release that (my bolding):

During the proceedings, the Barclay group advised the Court that they proposed to commence selling two new products, known as the Basic Assistance Plan and the Total Assistance Plan.

The Court ruled that although these products are not contracts of insurance, they are financial products and, as such, the Barclay group is required to hold an AFSL in order to offer these products for sale.
Click to expand...

Does Barclay now hold an AFSL, or has the Federal Court since changed its view that an AFSL is required?
 
David, its been over a week now.

You have gone quiet since the question was asked of you.

Not only am I waiting on your answer but it appears others here have questions directed to you that have yet to be answered also..

By delaying & not answering you aren't doing your credibility & business interests much service as it appears you've been caught out and now gone into hiding.

I again ask - you stated the form is to notify my PM NOT to renew your cover and then placed on my Management File located at my PM's office here in Perth. If that is the case, why then is the slip & envelope addressed to you in Wynnum Qld?


We look forward to hearing your right of reply.
 
images

Feel your angst Rixter

These type of practices are dodgey

You found out you had six (6) months of insurance cover taken out on your property, by your PM, on your behalf, without your knowledge......when it ran out!?
 
Yeah. My PMs do not have authority to charge a single penny to my account without my prior permission. They stuff up it can come out of their pocket not mine.
 
Well Mr David Banks, Its been 2 weeks and we are all still awaiting your reply..you've gone very sheepish having been caught out, now laying low in damage control it appears.

Very dodgy practices in the past it also appears. As per a google search and mentioned in post above in this thread.

ACA & Today Tonight love these type of investigative reports. Plenty of prime time nation wide marketing there for you - and free!
 
Interesting that he requires you to communicate your intentions but wants to remain silent.

Do you have his email so that we can email him directly?
 
chilliblue said:
Interesting that he requires you to communicate your intentions but wants to remain silent.

Do you have his email so that we can email him directly?
Click to expand...

Chilli you can find his contact details on THIS post of his.

I was wanting him to answer my questions here on the forum because lots want to hear his response.

Looks like he's dug himself a hole.
 
Perp said:
David, I note with interest that you place emphasis on the fact that your "policies" are NOT an insurance product. My curiosity sparked by this language, I then discovered that ASIC, in 2003, obtained court orders against BarclayMIS regarding selling insurance policies without an Australian Financial Services Licence. Now that was nearly 10 years ago, so I'm not trying to roast BarclayMIS over an old incident which may well have been due to obtaining bad advice, as I accept that that can happen.

But I note with interest at the bottom of that release that (my bolding):



Does Barclay now hold an AFSL, or has the Federal Court since changed its view that an AFSL is required?
Click to expand...

Looking back through the ASIC and other websites such as this one below with some additional commentary, it appears they were going to get one Perp?

Nothing on thier website refers to such though link

The Property Management Journal

Mr David Banks CEO of the Barclay MIS Group of Companies said he was pleased that the position has now been clarified. "We are not in the business of insurance and we have never stated that we were. In fact we have gone out of our way to say that we are not and it is even the first statement on our brochure. Of the 6 Plans looked at by the Federal Court, 3 were shown NOT to be contracts of insurance and the 3 that were classed as contracts of insurance were the 3 plans that we had ceased marketing in July 2002" said David.

"As a result of our commencing proceedings we now have a clear direction, the plans that we are now offering are not contracts of insurance. We are currently applying for a Financial Services Licence to ensure that we do not breach any legislation that we now know we are to be governed by."
Click to expand...


Other comments on the interweb note that they are not associated in any way with Barclays Bank, lest anyone get confused
 
Still uncertain...

redwing said:
Looking back through the ASIC and other websites such as this one below with some additional commentary, it appears they were going to get one Perp?
Click to expand...
Yes, I was also under that impression, yet as you highlight, neither their website nor the product pamphlets appear to make reference to their AFS licence number.

I also searched the AFS licence database on ASIC Connect and was unable to find a licence for either Barclay MIS or David Banks.

But I may well be looking for the wrong thing, which is why I wanted to give David the opportunity to publicly clarify the situation.
 
David Banks

I've had EXTENSIVE dealings with Barclay MIS - not only with David Banks himself but members of his staff too. David Banks/Barclay MIS still owe me about $3000. It went to court, he fought it and lost and we have a Summary Judgement in our favour, but haven't received a penny. They offered us a payment plan of paltry sums extending over 9 months to pay the debt back. We cpuld have sent him bankrupt, but refused to throw good money after bad. He (at the time) also had another company who he owed money to, who did threaten to wind up his business, but he quickly organised to pay them so he could stay in busienss. Not sure of the total amount he owed them but it was in the vacinity of tens of thousands of dollars. I would NOT trust this company at all. My advice is if your PM mentions the the words "Protect and Collect", I would get yourself a new PM. STAY AWAY FROM BARCLAY MIS.
 
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Plenty of people would buy the debt off you. Tell us- how much is the judgment for and whom is it against (company or individual?)
 
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Barclay MIS went into receivership 2 months ago

Hi Rixter,

Don't know if you already heard, but Barclay MIS were placed into involuntary administration a couple of months ago by one of their suppliers who they owed a LOT of money to. It was the 2nd time this supplier took them to court to wind them up and now the company has officially ceased trading.

Did you have any luck getting a response from David Banks?

SeanJ


Rixter said:
So as not to highjack This thread - ...I have started this new thread in relation to follow up questions to CEO David Banks of Barclay MIS Protect and Collect.

The question I posed on 18/6/12 as yet has not been answered.

The Question awaiting an answer from David on, is as per transcript below .....

Hi David,

Thanks for your clarification on this matter.

The main issues I have with it is as follows...

You state the form is to notify my PM NOT to renew the cover and go on my Management File at their office here in Perth. Why then is the slip & envelope addressed to you in Wynnum Qld?

I think you may also find that what you are doing in relation to automatically charging a renewal to someone for a product/service that they have not/never requested, is in fact illegal and in breach of the trade practices act. Have you researched into this?

I will be strongly advising my PM to seek legal opinion also before automatically debiting anyone else's account.

Lastly the question needs to be asked of my PM, why are they divulging my confidential business affairs without my authorisation, for you to record and initiate policy coverage on me?

I look forward to your response.
Click to expand...
 
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SeanJ said:
Did you have any luck getting a response from David Banks?
Click to expand...

None what so ever Sean. But then again after sufficient time was given and still no response from him I wasn't expecting one anymore anyway. I had written him off big time!

Thank you for the update.
 
SeanJ said:
I've had EXTENSIVE dealings with Barclay MIS - not only with David Banks himself but members of his staff too. David Banks/Barclay MIS still owe me about $3000. It went to court, he fought it and lost and we have a Summary Judgement in our favour, but haven't received a penny. They offered us a payment plan of paltry sums extending over 9 months to pay the debt back. We cpuld have sent him bankrupt, but refused to throw good money after bad. He (at the time) also had another company who he owed money to, who did threaten to wind up his business, but he quickly organised to pay them so he could stay in busienss. Not sure of the total amount he owed them but it was in the vacinity of tens of thousands of dollars. I would NOT trust this company at all. My advice is if your PM mentions the the words "Protect and Collect", I would get yourself a new PM. STAY AWAY FROM BARCLAY MIS.
Click to expand...
SeanJ

Where have you got the information about Barclay MIS were placed into involuntary administration?

I cant find that info anywhere?
 
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