Author Topic: Legacy Consolidated Plans (Read 43350 times)

springtime4hitler · « **Reply #76 on:** Dec 01, 2007, 06:07 AM »

siguro ang tanong ko lang ngayon, eh papano kung bumagsak eto at bawi na natin ang investment natin. gaano kaapektado ang legacy banks? gaano maapektuhan ang mga time deposits? O baka pareho lang ang risk ng TDs and 3 yr PNBB? Pagbagsak ng isa, bagsak din ang isa. Kasi kung pareho lang, eh di dito na lamang ako mag-iinvest.

TheProfessor · « **Reply #77 on:** Dec 01, 2007, 06:51 AM »

My personal choice by order of priority would be to go for PNBB Quarterly (PNBB2) over PNBB3 MONTHLY. Both are 3 year plans. If you try to do some pencil pushing recovery of principal investment in PNBB2 Quarterly is only about 1 year & 4 months only while in PNBB3 Monthly it will take 1 year & 7 months.

Banks are entirely separate entities under a different regulating body. They have totally nothing to do with PNBB plans. Banks have PDIC to depend on.

However, taking recovery of principal and returns, I still prefer PNBB products over bank products even without PDIC. But then, thats me personally and I have different risk appettite.

segurista · « **Reply #78 on:** Dec 01, 2007, 01:34 PM »

Thank you Professor

segurista · « **Reply #79 on:** Dec 02, 2007, 03:19 AM »

Springtime
Ang sa akin lang malaki ang effect as a whole kung magsara ang legacy consolidated plan since ito ang pinaka legal front ng legacy to be able to market the bank products remember the time na magsara ang isa sa legacy affiliated bank ang center bank walang masyadong naging impact sa other bank ng legacy una nakuha lahat ng depositor ang insured sa PDIC sa tingin ko habang buhay si CDLA hindi niya pababayaan na mismanage ang legacy plans since ito ang goose na nagigitlog sa kanya ng ginto ang tanong bakit niya ito papatayin . Totoo ang lahat ng sinabi ng ibang tao kay CDLA magmula noong panahon ni Marcos ang jueteng this man really is smart remember kahit kamag anak niya alam kung paano ang style ni CDLA ito din ang dahilan why I invested sa legacy kasi I over heard him in one gathering ang sabi niya matanda na ako 2 lang naman ang anak kuntento na ako. Well this is coming from the man almost from scratch next time I will share his life story inspiring din pero maintriga din

springtime4hitler · « **Reply #80 on:** Dec 02, 2007, 11:56 AM »

his unconventional for an atenean...hehehe

AMARANTH · « **Reply #81 on:** Dec 02, 2007, 10:53 PM »

segurista,

ano yung cdla?

springtime4hitler · « **Reply #82 on:** Dec 02, 2007, 10:58 PM »

CDLA = CELSO DE LOS ANGELES
OWNER OF LEGACY
and MAYOR of a MUNICIPALITY of ALBAY, I think.

AMARANTH · « **Reply #83 on:** Dec 02, 2007, 11:14 PM »

ah abbreviated lang pala sa pangalan niya. talagang tiwala system na lang na hindi magkakaproblema sa paginvest rito.

springtime4hitler · « **Reply #84 on:** Dec 03, 2007, 12:19 AM »

bat nga pala isinara yung center bank? ano nangyari? kelan to?

Elite · « **Reply #85 on:** Dec 05, 2007, 03:13 AM »

I have been a "silent reader" of PMT... sounds familiar, huh?

From time to time I visited this forum, but can't open my old account.

I personally address the questions to you professor because it is your group who are active in this forum. As they say, a prospective investor takes an effort to know the managers of the investment company. This explains why I keep on asking my associates who know well the legacy group and know well how Boy de los Angeles bought these newly added rural banks in your list.

It seems to me that the legacy group intentionally erased the profile of the board of directors from their official web. Why is this so? If you don't mind, who are the incorporators of the legacy group?

I agree that the PDIC argument is strong, but knowing how these rural banks in Cebu managed the fund is also important. You didn't answer my question, who among these banks are actively promoting the salary loan (with automatic salary deduction scheme)?

The answer is negative and you know it well. So, it seems that the rural bank of paranaque is the only active bank managing the salary-loan (PPSTA, for example, has deposited 10M for this purpose) and these rural banks in Cebu (for example) are ONLY recepient banks of depositors. But the truth of the matter is that these various rural banks in the legacy group is STILL independent from one another. There's a plan to consolidate these banks, but still a plan to date.

Add: If these banks have been soliciting deposit in DYM term for more than a year now, with the "unauthorized" pre-need marketing people, like you, promoting the bank products, it seems that these banks should increase their paid-up capital requirements now.

segurista · « **Reply #86 on:** Dec 05, 2007, 05:14 AM »

Elite mukhang marami kang nalalaman are you playing devils advocate

1. Are you planning to invest in the bank product or pre need product of legacy.

2. Are you an existing investor?

You know the answer to all your questions to the Professor at alam mo din ang katotohan at maraming investors ay aware sa nangyayari some stop reinvesting ang iba naman tuloy tuloy pa din so far monthly interest are coming no delays no red flags yet .

Where did you get this information of merge ng mga rural banks ng legacy this is alarming paano na kung may iba iba kang account sa different banks ng legacy what will happen if there is a merge ?

Professor your feedback please .

richpulubi · « **Reply #87 on:** Dec 05, 2007, 07:51 AM »

Elite, if you need a list of the incorporators, I have it. It turns out, by coincidence, two are friends of mine. Tinatamad lang akong i-type lahat. Please let me know the significance of the list...para ganahin akong i-type. Also, if you need any info, SEC will give it to you anyway...that's how I got it.

Elite · « **Reply #88 on:** Dec 05, 2007, 10:45 AM »

bank merging statement is from the head of the banking group. no worry, malayo pa yan mangyari. actually im planning to invest but i need more info about the company. do you know who are the people behind legacy? who are its incorporators? what are its major banking activities to assure us (investors) for long-term sustainable growth?

my impression, correct me if i'm wrong, the DYM scheme has been a promotion to generate revenue. Is legacy planning to venture into a profitable business? What is it that the PNBB has been aggressively promoted?

The professor was right that this promo is not safe like the CTD Monthly. But as an officer of legacy consolidated plans, he (the professor) should have more faith in the company regarding this promo, which is basically a pre-need program. The only difference is the presence of a ready buyer, the Legacy card (or Onecard?). But definitely this program is credited to the professor legally as a pre-need business. It is now the call of the pension planholder to sell or not his/her plan to Legacy card. There is no solid guarantee of this transaction, except one's trust in a company. If the professor is not so comfortable about this program, it means there's indeed a reason to be extra careful about this company. In PNBB, you are not transacting to the pre-need company per se, but directly to the Legacy card. The moment you agree to sell your pension plan, you waive your right to this plan. A photocopy of your pension plan has no worth at all!

So, I reject this scheme but Im still considering the CTD Monthly and which bank should I make my deposit.

Most of the invested money have been used to buy "near-to-death" rural banks. There's one thing I noticed when I talked to these rural banks: instead of being grateful to boy for bringing them back to life, they are unhappy and critical about legacy taking over bank management (like having presidents with no banking experience).

To richpulubi: do you have a list of incorporators? Please, provide one here. Are you referring to the Legacy Financial Group? or simply, the Legacy Consolidated PLans, which is actually a merging of legacy plans and consolidated plans? Do you know why legacy plans was not merged to SPPI, which was bought prior to consolidated plans?