Neville Curmi and Curmi & Partners, who are not renowned for very healthy financial practices (to put it mildly), are launching or promoting an existing bond fund called “FlexiCash” promising up to 3.2% in returns. There’s no prospectus online and you have to call or meet them so they speak to you about it for further information. You know, “let me explain.”
This kind of stuff is promoted to unwitting and financially illiterate pensioners who are looking for honest financial advisors to guide them about their finances. The problem in this case is that Neville Curmi and Curmi & Partners are both brokers and financial advisors at the same time apart from managing their own funds and business enterprises with clients funds so there is widespread conflict of interest in what they are doing.
Basically, Curmi & Partners do not have your financial interest on top of their priority because they are simultaneously making an additional profit with the products they are selling you.
This “FlexiCash” thing, or whatever they want to call it is probably just them buying an ETF and acting as your broker and financial advisor at the same time. If not, then they have their own private fund filled with government bonds which is not available for public scrutiny. It’s totally bonkers what they are doing in terms of standard financial practice.
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