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Legacy Group Investments


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Paul

I am writing this thread for two reasons:

 

1. There have been a few issues regarding Legacy, among a couple/few members here.

2. I am going to begin, officially, referring others to a specific agent, who is not a member of this forum.

 

Now, regarding making investments through anyone: Please make sure you do your homework prior to putting money anywhere. The reason I have decided to become a referrer here, officially, is I have seen these plans for more than five years, now, with no one, and I mean, no one having lost a cent through Legacy. I have invested with Legacy as well, and will continue to do so.

 

Here is the last post I made, regarding the topic where the list of banks was posted:

 

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Here's my take on this.

 

1. I am well aware that others are involved in Legacy.

2. I am also a referrer regarding Legacy, and have an agent I have been sending people to for some time now. I don't know if I will ever have a kick back (well, we have to call it what it is) or not. But, that isn't the concern. The concern is, this is something that I have now decided to get into, thus it will go against the rules regarding conflicts of interest (if either Admin on the forum is involved in any venture, then no one else may push their similar business here).

3. With that said, I have deleted the attachment, and will be deleting all other references to Legacy Group, created by others, within the next day or so.

4. If anyone involved in Legacy wishes to advertise on the forums, they may contact me regarding this. I would have to think about it, prior to allowing ads of that nature, though.

 

I hope this resolves any issues regarding this matter.

 

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chimellie

I just opened an account with Legacy Group yesterday, I didn't put in a lot of money. I told them I don't trust them yet, I will invest more in the future if thing goes well. I will report back from time to time about the investment.

 

Anyone else investing with them ? and how long have you been doing it ?

 

Thanks

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Tatoosh

I have invested a relatively small amount with Legacy, in a couple of different programs. I have used a couple of different agents. David was timely and took me where we needed to go unless there was a press for time, in which case he simply asked me to meet him. The other agent did similarly. Both had their good points. David's posts about various programs offered is one of his strongest points.

 

I have not been involved with Legacy long enough to tell you if they are a valid investment, but obviously since I put my money there, I am hopeful. I have seen others investing while I was filling out my paperwork. Chimelle, I haven't heard of anyone losing money from Legacy or a check or payment not being honored or made, which would have been posted here and else where pretty quickly. So unless things go down the tube on a global scale, I am hopeful that Legacy will be a worthwhile investment. How they can make payments on some of their offerings is a bit beyond me. The rural bank thing makes sense, but the PNBB2 program, with its very attractive return, just boggles me.

 

I realize that Paul and David have some friction. And I haven't read all of this thread. I will be sorry to see David's posts disappear from here because that has been the easiest way for me to keep up with what is happening on the financial front. But there are posts elsewhere, such as David's Yahoo group as an alternative for info, or perhaps others start posting about Legacy offerings here. Time will tell.

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chimellie
I have invested a relatively small amount with Legacy, in a couple of different programs. I have used a couple of different agents. David was timely and took me where we needed to go unless there was a press for time, in which case he simply asked me to meet him. The other agent did similarly. Both had their good points. David's posts about various programs offered is one of his strongest points.

 

I have not been involved with Legacy long enough to tell you if they are a valid investment, but obviously since I put my money there, I am hopeful. I have seen others investing while I was filling out my paperwork. Chimelle, I haven't heard of anyone losing money from Legacy or a check or payment not being honored or made, which would have been posted here and else where pretty quickly. So unless things go down the tube on a global scale, I am hopeful that Legacy will be a worthwhile investment. How they can make payments on some of their offerings is a bit beyond me. The rural bank thing makes sense, but the PNBB2 program, with its very attractive return, just boggles me.

 

I realize that Paul and David have some friction. And I haven't read all of this thread. I will be sorry to see David's posts disappear from here because that has been the easiest way for me to keep up with what is happening on the financial front. But there are posts elsewhere, such as David's Yahoo group as an alternative for info, or perhaps others start posting about Legacy offerings here. Time will tell.

Thanks Tatoosh. Can you please explain more about PNBB2 ? Is this Philippines National Bank ?

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broden
I just opened an account with Legacy Group yesterday, I didn't put in a lot of money. I told them I don't trust them yet, I will invest more in the future if thing goes well. I will report back from time to time about the investment.

 

Anyone else investing with them ? and how long have you been doing it ?

 

Thanks

i'll be looking for your posts on this .. i'm sure alot of people will .. they have my curiosity up

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chimellie
I just opened an account with Legacy Group yesterday, I didn't put in a lot of money. I told them I don't trust them yet, I will invest more in the future if thing goes well. I will report back from time to time about the investment.

 

Anyone else investing with them ? and how long have you been doing it ?

 

Thanks

i'll be looking for your posts on this .. i'm sure alot of people will .. they have my curiosity up

Does anyone know what is PNBB2 investment is as told by Tatoosh ?

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Lee
I just opened an account with Legacy Group yesterday, I didn't put in a lot of money. I told them I don't trust them yet, I will invest more in the future if thing goes well. I will report back from time to time about the investment.

 

Anyone else investing with them ? and how long have you been doing it ?

 

Thanks

i'll be looking for your posts on this .. i'm sure alot of people will .. they have my curiosity up

Does anyone know what is PNBB2 investment is as told by Tatoosh ?

 

 

That is the one where they were paying a very high interest rate but it was not insured by the PDic and I have just been told this morning while on the phone with another guy whose wife does Legacy, that section of investment is no longer available because they closed it on April 30th

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Tatoosh

Hey, sorry to hear the PNBB2 program has closed for now. It has a history of coming back though, I am told. No, it is not Philippines National Bank. It is Legacy investment without PDIC protection. It pays, if all goes as stated, about 42 percent interest over a three year period. The most popular program has about half that return, but includes PDIC protection, which I think is what you did, the rural bank accounts that pay 20 percent to 18 percent depending on the bank. I think those are the safest of their offerings and still gives a pretty darn good return compared to other banks.

 

There is also a 24 percent program, but it is investment in some detective/security agency apparently owned by Legacy. Again no PDIC insurance, but money is only tied up for 1 year. Talk to your Legacy advisor if you have questions. If the PNBB2 works out, I will be sorry I didn't stick a bunch more there. If it doesn't, I'll be kicking myself for putting in as much as I did. You can tell where I fall when looking at the proverbial 1/2 glass of water, eh?

 

Given Paul's endorsement of the program and that I've been watching it for a couple of years now, I have high hopes it will work out. However I didn't start investing until April of this year.

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JohninCebu

PNBB2 is Pre-Need Buy Back 2. It is a pension policy but is immediatley assigned back to Legacy in return for quarterly cheques payable over 3 years.

 

If you invest x amount, they agree to pay you 2x, the first of which is 10% on day one, assuming you pay in cash. The rest follows by 12 cheques dated 3 months apart to the value of 2x-10%/12.

 

So, if you invest 500,000 peso, you get a payback of 1,000,000 peso by way of a refund of 100,000 upfront, or deducted from your payment (ie400,000 or you have to wait a month for your cheque to clear) and 12 cheques of 33,333 peso. The papers can be signed at your bank so you don't have to carry the cash around.

 

I suspect there will be a PNBB3 but from what you say we will have to wait and see.

Edited by johnrainey
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Tatoosh

Let me revise one of my statements. Given Paul's previous endorsement of the Legacy Group, similar to what is seen in the original post on this thread, plus the time I've spent watching posts about the various programs, usually courtesy of David W, I decided to try it out. I didn't mean to imply the Paul personally endorses the PNBB2 program, which I seem to imply by my poor choice of words. We have never actually discussed it.

 

Having talked to David W and others last month, I expect it will be back in another form down the road as it is a very popular program. But when and exactly what the terms will be is yet to be seen. That is surmise on my part. No one but management at Legacy know for sure.

 

And thanks JohnRainey for a very succinct description of the PNBB2 program.

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  • 3 months later...
Let me revise one of my statements. Given Paul's previous endorsement of the Legacy Group, similar to what is seen in the original post on this thread, plus the time I've spent watching posts about the various programs, usually courtesy of David W, I decided to try it out. I didn't mean to imply the Paul personally endorses the PNBB2 program, which I seem to imply by my poor choice of words. We have never actually discussed it.

 

Having talked to David W and others last month, I expect it will be back in another form down the road as it is a very popular program. But when and exactly what the terms will be is yet to be seen. That is surmise on my part. No one but management at Legacy know for sure.

 

And thanks JohnRainey for a very succinct description of the PNBB2 program.

 

How do I get involved with Legacy Admin? I want to know about all their investment products.

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Contact Information:

 

Email 1: paul @ kitakits.com

Email 2: cebu @ livingincebu.com

Philippines Cell: +63-928-392-0545

Domestic US (VOIP): 1-912-228-3385

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www.manilastandardtoday.com/?page=news4_aug22_2008

 

"Irreparable damage will be suffered by the petitioner BSP and the members of the Monetary Board considering that in the 2007 examination, the capital deficiencies of the 10 respondents had ballooned to about P2.5 billion, the Bank said."

 

 

I'm a logical person. I'd stay away from this "investment" with a 100 ft. barge pole.

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I'm a logical person. I'd stay away from this "investment" with a 100 ft. barge pole.

 

Right now, with the economic system in turmoil, almost any bank or investment can be at risk.

 

How about the guy who lost $9 billion with Lehmans, as one example.

 

Nah, the best thing is to give all your money to me, and then you wont have any worries about losing it. :)

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