A site called Wealthrite.com.au offers investment advise as well as portfolio management. They also claim that they can “help you reach your financial destination faster”. Wealth Rite is an Australian company. They claim to be associated with another company called Next Generation Advice Ltd.

Today we’re giving you 4 reasons why you should not trust Wealthrite.com.au as your financial goals may be at risk.

If you’ve lost any funds while dealing with these guys, we encourage you to seek free expert consultation here on how you can quickly recover your funds from Wealthrite.com.au.

Is Wealthrite.com.au a scam?

They call themselves  “middle-tier investment manager” with 36 years of experience. This cannot be verified. Furthermore, Wealth Rite has not been around for that long. It’s not clear what financial background these guys have. Furthermore, we question why the ASIC deregistered them before the company sort registration again. These are red flags and we will therefore provide additional points that reaffirm that Wealth Rite is an illegitimate financial advisor.

4 reasons why Wealthrite is not legitimate

These are 4 reasons why we believe these guys pose a significant risk to Australians seeking investment advisory services.

Failure to disclose the nature of business

Wealth Rite Pty Ltd is registered by the Australian financial regulator. The problem is that during this registration, the company did not reveal the true nature of the kind of business they engage in. The company tells the ASIC that they are a property company but this is not true. They should have said that they’re dealing with investment advisory services.

Wealth Rite Pty Ltd deregistration from the ASIC

The financial regulator deregistered the company Wealth Rite Pty Ltd between 2011 and 2014. In the ASIC filing, we noted that the company applied for voluntary deregistration. Reasons were not given. There seems to be something fishy going on with the company.

Cold calling unsuspecting victims out of the blues

The people who work at Wealthrite.com.au are experts in boiler room sales. They use call centers to call and convince victims to use their service. The unsuspecting victims have also reported that at no point did they give out their phone numbers to anyone at Wealth Rite Pty Ltd. This means that the company is illegally buying or obtaining contact details. This is a red flag.

No reviews of WealthRite Pty Ltd

We have tried to look for positive reviews of this company but found none. It does not appear to be a popular company and if at all they have any customers, we presume that these customers are somehow unable to air their grievances on the internet. A good and reliable investment company is one that has reviews (both positive and negative).

Conclusion of this Wealth Rite Review

Do not trust these guys. The company has no positive feedback from any of their clients. If they were good enough, they would have attracted some good ratings. Of course we are also concerned with how they coerce people on the phone. Unsolicited phone calls that discuss investment opportunities are always scams. Thank you for reading this review.