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Syndication Fees?

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James View Drop Down
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    Posted: 02 Jun 2012 at 11:44am
  Hi all. Having never owned a horse myself I was wondering if someone could answer a question. 
  My brother has a 10% share in a horse with a syndicator and is charged $1500 annually (so $150 himself) in syndication fees? He hasn't checked through his receipts but thinks that figure may actually be every six months and not annually also, but like I said would need to check to verify that. 
  Is that normal as it seems a lot of money and perhaps a fair chunk of it goes straight in the syndicators pocket?
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Xolento View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 12:30pm
It should be clearly outlined in his Product Disclosure statement and his partnership agreement 
http://aust-breds.com.au/



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James View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote James Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:26pm
It's not that he isn't going to pay it or that it's not in the agreement. More whether or not it's a bit steep. 
ANd me personally what does the fee cover? Is it just paperwork or are there other costs?
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Lordy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Lordy Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:41pm
$1500 per annum looks like a fairly minimal amount to me. Works out to $12 per share per month.
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Pazman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pazman Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:44pm
Syndicators wear Prada and Gucci to the races.
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Run For Fun View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Run For Fun Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:46pm
Sign up with Dynamic and you can enjoy the pleasure of paying your share of an annual syndicate management fee of close to $8,000.
 
It's hard to soar with eagles...

Cheers
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James View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote James Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:54pm
Originally posted by Run For Fun Run For Fun wrote:

Sign up with Dynamic and you can enjoy the pleasure of paying your share of an annual syndicate management fee of close to $8,000.
 

Are you taking the piss RFF?!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Run For Fun Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:57pm

Not for a moment mate.

"Fee payable to Syndicate Manager by each by Owner:
$792 including GST per Share per annum payable by each Owner by monthly instalments in advance of $66 including GST."
It's hard to soar with eagles...

Cheers
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Gee Gee View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gee Gee Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:58pm
Rip off merchants.
The fee ends up greater than agistment fees.
not bad for sending a cut n paste template email every week!
Theives!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 1:59pm
James when we bought ours the syndicator wanted to charge 2000 for the year so we just rang the trainer himself and took 10% each of what was left, I know this doesn't help your bro but I think 1500 would be the norm or on the cheap side
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gee Gee Quote  Post ReplyReply Direct Link To This Post Posted: 02 Jun 2012 at 2:01pm
Originally posted by Pazman Pazman wrote:

Syndicators wear Prada and Gucci to the races.

yep. fly first class to royal ascot
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Goldo6681 Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jun 2012 at 3:19pm
James, there are syndicators out there that don't charge fees if you look hard enough....
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Nocturnal View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Nocturnal Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jun 2012 at 4:20pm
Originally posted by Gee Gee Gee Gee wrote:

Originally posted by Pazman Pazman wrote:

Syndicators wear Prada and Gucci to the races.

yep. fly first class to royal ascot


Not the ones i have dealt with , they have the ar$e out of their pants
The only problem with backing winners ? You never have enough on....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Run For Fun Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jun 2012 at 4:22pm
Noccy, that's only because you and your mates never pay.  Tongue
It's hard to soar with eagles...

Cheers
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nocturnal Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jun 2012 at 4:50pm
might have something to do with it haha
The only problem with backing winners ? You never have enough on....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:07pm
is it annual syndicator bashing time again ? 
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:15pm
Xolento a lot of people in the industry have been burnt by the ones that do the right thing. I work with alot of my mates that are a bit younger like myself when they are looking at horses. Just this year I have found 2yo's that have been through the ring for 8-10k trying to be syndicated out for prices that would make those 2yo's worth 70-80k. Or tried horses being bought for 13-15k and on-sold for 30-35k. Some of these syndicators do a great job, others not so great. I would never buy a horse through a syndicator but I would love to be one myself!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:19pm
be carefull what you wish for gcg84 , be very carefull.  contrary to perceptions it is NOT a licence to print money with many many pitfalls and massive risks 
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote maccamax Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:24pm
Originally posted by Xolento Xolento wrote:

is it annual syndicator bashing time again ? 
.
.
. All in what we like for an  interest and entertainment.
Some go to every football match , some like Opera etc and some like a Racing interest .
  We to pay whatever and truthbe  known the persons supporting the football is up for more than the alternatives.
      I make a pest of myself on Forums and thats the cheap option .
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:35pm
Yes Xolento, I bet their is risks and pitfalls just as their is in running any business. But just as I run my own business (non- racing), if you have a strong work ethic, good solid contacts in the industry, a life long knowledge of the industry itself and a decent financial backing then I believe that there is some quite good money to be made. I have a good mate that has been doing it on a small scale up here and he is going very, very well.The most importent thing for him was to make sure that he can cut the slow payers and get his money from those who dont like to part with it...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:51pm
who is your mate ?
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 3:54pm
haha Xolento, as if I am going to give out my mates business details on an open forum. There would only be a 100 or so in Qld mate, why dont you guess. He does not need the free advertising on here he likes too look after is tight- knit client base.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jun 2012 at 4:02pm
there is only one commercial syndicator that is based in QLD 
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 8:36am
Originally posted by gcg84 gcg84 wrote:

haha Xolento, as if I am going to give out my mates business details on an open forum. There would only be a 100 or so in Qld mate, why dont you guess. He does not need the free advertising on here he likes too look after is tight- knit client base.

so does your mate have an AFSL ?
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 8:45am
Most trainers hold their AFSL x...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 9:10am
Originally posted by gcg84 gcg84 wrote:

Most trainers hold their AFSL x...

actually that is so far off the mark as most trainers do NOT have an AFSL nor would alot of them know even how to get one 
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 9:31am
well I would have thought some of the bigger ones would have, the rest would be covered under Rg 91.3 as "small-scale" operators.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Xolento Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 9:40am
Originally posted by gcg84 gcg84 wrote:

well I would have thought some of the bigger ones would have, the rest would be covered under Rg 91.3 as "small-scale" operators.

wrong again, as I said most would not even know what an AFSL is and how to obtain one. and wrong again re RG91.3 , you need to read the whole guide and then check with the Lead Regulator in relation to the particular scheme being offered.

does your friend have an AFSL ? 
http://aust-breds.com.au/



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 9:46am
hmm I have a feeling you could be the fun police so i am going to shut my mouth. Sorry matebut if you think that it does not happen then you are kidding, every horse I have bought has been bought with groups of mates with no syndicator and I guess from your info no- one held and AFSL. Plenty of people out there offering shares in horses, they must be doing it unlawfully.... lol, good luck catching them all.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gee Gee Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jun 2012 at 9:47am
I've got an AFSL.
 
 
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