Wealth Manager in DR

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sunlover721

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Oct 25, 2012
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Hi-- I am moving to the DR, and have a nice sized nest egg that I want to invest locally. I have received a few recommendations for financial advisors in Santo Domingo from people I networked with on LinkedIn....these are the names I got....

Fernando Cantisano

Luis Alberto Veras

Hector Garrido

Anybody have any experience working with any of these people? Any others that you would use? Thanks
 
Wishing you well

Wishing you well

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Posting private information from second hand sources is just not the right way to go on this. If you really wanted to know how reliable any of these folks are, you should've called them or emailed them. Furthermore, if after the fact you still needed references from them, then find out from them whom have they worked for or worked with to find facts.

Poorly addressed IMO.
 
waytogo

waytogo

Moderator - North Coast Forum
Apr 3, 2009
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Santiago DR
You want to keep your money.................
Don't give it to anyone unless you know them personally..........
Remember............A fool and his money are soon parted.............
AND, don't take that personally...............:cheeky:

B in Santiago
 
Tamborista

Tamborista

hasta la tambora
Apr 4, 2005
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Wasn't Bernie Madoff well "networked" on LinkedIn?
Leave your nest egg where it is, maybe try Alliance Bernstein.
DO NOT, and I repeat DO NOT trust a Dominican money manager, are you nuts???
 
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william webster

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Jan 16, 2009
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There are so many other options besides dragging your $$$$ along with you..... and then the taxes on it.

Think of the hassle of reporting that "nice sized" nest egg to the authorities.

Do a bit more estate/tax planning.

RBC is a good source of information.
 
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the gorgon

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Sep 16, 2010
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Tamborista said:
Wasn't Bernie Madoff well "networked" on LinkedIn?
Leave your nest egg where it is, maybe try Alliance Bernstein.
DO NOT, and I repeat DO NOT trust a Dominican money manager, are you nuts???
Click to expand...

if you are going to trust a Dominican with your money, just give it to him, and save yourself time with all the fanfare of so-called legal arrangements. it is going to become his, anyway.
 
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donP

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Dec 14, 2008
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Soy tu amigo.

sunlover721 said:
.... financial advisors in Santo Domingo from people I networked with on LinkedIn....these are the names I got...
Click to expand...

There are about 3.2 million "financial advisers" in the Dominican Republic. :rolleyes:
Their 'apodo' often is "No hay problemas".
And it's true, they never have a problem. :laugh:


donP
 
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LTSteve

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Jul 9, 2010
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Hi: Leave most of your money at home for now. If you want to invest of a small amount than get a CD in one of the banks that are paying 8-10% interest. Get a feel for the country and meet with some reputable firms to get the true picture. After you reach a comfort factor than and only than you might want to consider additional investment.

LTS
 
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Expat13

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Jun 7, 2008
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I am a financial adviser, but do not have any local realiable solutions and if you are American, the offshore options are very limited. This is not a solicitation I would take the lead of what you see in the posts above. Be careful!
 
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Dominicaus

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Oct 4, 2006
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the gorgon said:
if you are going to trust a Dominican with your money, just give it to him, and save yourself time with all the fanfare of so-called legal arrangements. it is going to become his, anyway.
Click to expand...
The implication is that Dominicans are all thieves, right?
Totally insulting and offensive post. Sweeping generalisation based on nothing...How many of the 10M Dominicans do you know?
How many of thousand of Dominicans in the financial sector do you know?

Don't know what moderators are here for.
 
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the gorgon

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Sep 16, 2010
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Dominicaus said:
The implication is that Dominicans are all thieves, right?
Totally insulting and offensive post. Sweeping generalisation based on nothing...How many of the 10M Dominicans do you know?
How many of thousand of Dominicans in the financial sector do you know?

Don't know what moderators are here for.
Click to expand...

save your lecturings for the guys who are trying to recoup their millions from the last huckster who took down half of the gringos in POP. for my part, i have NEVER gotten repaid by any Dominican that i have lent money to. not one. NEVER. for that reason, i will not do it again. i rather give it to them, if it is an amount i can afford to part with. i have never sold something with a deposit, and had the buyer pay me the remainder. NEVER. i know, my mistake. i just happen to operate in a mindset in which most people do the right thing. a car rental company once charged me 450.00 for a rental. when i went to return the car, i gave the guy 500.00 he told me he had no change, but i could pick up my 50.00 at 2pm. i ended up having to take the matter to the Ministry of Tourism, and he still did not pay me. sorry you feel offended, but that is my approach, and i am sticking by it. i do not need to meet 10 million people in order to establish tendencies.
 
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Dominicaus

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the gorgon said:
save your lecturings for the guys who are trying to recoup their millions from the last huckster who took down half of the gringos in POP. for my part, i have NEVER gotten repaid by any Dominican that i have lent money to. not one. NEVER. for that reason, i will not do it again. ...i do not need to meet 10 million people in order to establish tendencies.
Click to expand...
This is not about lecturing. It is about telling you that you have NO RIGHT to call 10M people thieves because you allegedly have had bad experience with a very very very tiny fraction of them.

Lots of people are doing business in the DR, and you bet a lot of the transactions involve credit, and a lot of people have money invested in numerous ways. You can bet that if the vast majority lost their money doing so, those transactions and investments would not be happening.

If it happens to you so many times as you alleged, the problem could be on YOUR side. You may be a specially bad judge of character, or may be doing business with the wrong people (Dominicans or not).

That is not to say financial fraud doesn't exist in the DR. Of course it exists. It exists everywhere. In case you didn't hear about it, the worst examples of financial fraud have been committed in the so-called 'developed' countries (ever heard about the financial crisis, the bank bail outs, etc. etc.)...

And in case someone told you that Bernie Madoff was Dominican, s/he LIED to you...He is from Queens NY, and has no connection whatsoever to the DR...Are you going to stop doing business with people from NY, because of him? Oh, you hadn't heard of him? The one of the US$65 BILLION dollar Ponzi scheme? Then click --> Bernard Madoff - Wikipedia, the free encyclopedia

And in case you think after Madoff, things are fine, check this out from Forbes:
Financial Fraud Is Growing, Post Madoff - Forbes

Preventing financial fraud by not doing business with Dominicans is flatly stupid.
 
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the gorgon

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Sep 16, 2010
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Dominicaus said:
This is not about lecturing. It is about telling you that you have NO RIGHT to call 10M people thieves because you allegedly have had bad experience with a very very very tiny fraction of them.

Lots of people are doing business in the DR, and you bet a lot of the transactions involve credit, and a lot of people have money invested in numerous ways. You can bet that if the vast majority lost their money doing so, those transactions and investments would not be happening.

If it happens to you so many times as you alleged, the problem could be on YOUR side. You may be a specially bad judge of character, or may be doing business with the wrong people (Dominicans or not).

That is not to say financial fraud doesn't exist in the DR. Of course it exists. It exists everywhere. In case you didn't hear about it, the worst examples of financial fraud have been committed in the so-called 'developed' countries (ever heard about the financial crisis, the bank bail outs, etc. etc.)...

And in case someone told you that Bernie Madoff was Dominican, s/he LIED to you...He is from Queens NY, and has no connection whatsoever to the DR...Are you going to stop doing business with people from NY, because of him? Oh, you hadn't heard of him? The one of the US$65 BILLION dollar Ponzi scheme? Then click --> Bernard Madoff - Wikipedia, the free encyclopedia

And in case you think after Madoff, things are fine, check this out from Forbes:
Financial Fraud Is Growing, Post Madoff - Forbes

Preventing financial fraud by not doing business with Dominicans is flatly stupid.
Click to expand...


bla, bla, bla. here's the deal, my friend. if every time i pet a pit bull, it bites me, the next time i choose to pet a dog, it will be something like a Jack Russell. i do not have to pet every pit bull to know that there is a more than even likelihood that the next one will bite me too.. simple statistical sampling. random selections. and i sure as heck am not going to keep petting pit bulls until i find one who does not bite .if i deal with twenty people of a sample group, and all twenty scam me, there is a more than even likelihood that the next guy will.
 
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the gorgon

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my mother bought her funeral plot in The Bronx, NY. spent 10 grand for it. she paid the funeral home 6 grand for the ceremony. she died in Fort Lauderdale, and i buried her there. a week later, i walked into the offices of the funeral home, and the realtor who sold her the plot. i had my money back from each, in full, in 3 days. try that in the DR, then tell me how it worked out. then you can lecture me about dishonest practices in the USA.
 
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Dominicaus

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Oct 4, 2006
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the gorgon said:
.if i deal with twenty people of a sample group, and all twenty scam me, there is a more than even likelihood that the next guy will.
Click to expand...
You didn't pay attention. Read the previous post again...especially the part that says:

If it happens to you so many times as you alleges, the problem could be on YOUR side. You may be a specially bad judge of character, or may be doing business with the wrong people (Dominicans or not).

To put it in a different way, you may be drawing from a pool of people (Dominicans or not) that are especially likely to be crooks...sort of like trying to infer the characteristics of Dominican women, after dealing with 20 Dominican prostitutes...obviously they are non-representative of the millions of Dominican women....same for 20 Dominican nuns, BTW,... they are non-representative.

Again, YOU may be dealing with the wrong people (Dominicans or not), and that may be the root of YOUR problems.
 
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pollogringo

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Dec 26, 2011
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Dominicaus said:
This is not about lecturing. It is about telling you that you have NO RIGHT to call 10M people thieves because you allegedly have had bad experience with a very very very tiny fraction of them.

Lots of people are doing business in the DR, and you bet a lot of the transactions involve credit, and a lot of people have money invested in numerous ways. You can bet that if the vast majority lost their money doing so, those transactions and investments would not be happening.

If it happens to you so many times as you alleged, the problem could be on YOUR side. You may be a specially bad judge of character, or may be doing business with the wrong people (Dominicans or not).

That is not to say financial fraud doesn't exist in the DR. Of course it exists. It exists everywhere. In case you didn't hear about it, the worst examples of financial fraud have been committed in the so-called 'developed' countries (ever heard about the financial crisis, the bank bail outs, etc. etc.)...

And in case someone told you that Bernie Madoff was Dominican, s/he LIED to you...He is from Queens NY, and has no connection whatsoever to the DR...Are you going to stop doing business with people from NY, because of him? Oh, you hadn't heard of him? The one of the US$65 BILLION dollar Ponzi scheme? Then click --> Bernard Madoff - Wikipedia, the free encyclopedia

And in case you think after Madoff, things are fine, check this out from Forbes:
Financial Fraud Is Growing, Post Madoff - Forbes

Preventing financial fraud by not doing business with Dominicans is flatly stupid.
Click to expand...

Dominicans have a reputation amongst Dominicans for being mala paga. Those of us that have married into Dominican families know this. It's not the same as saying "they're all thieves". But are many slow, unlikely and hesitant to fulfill financial obligations? You already know the answer.
 
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