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Don't bother with {{{Redacted}}} as they promote the hiring of failed, fired and untrustworthy advisors from other companies as a recruitment strategy. Test the next one that calls you by asking how long they have worked in this industry? Then ask how long they have been with {{{Redacted}}}. Chances are they have worked for more than 1 other company in their time. They will try and tell you it was career progression but know its poor performance and greed that makes an advisor jump ship.

By my reckoning these cavalier salesmen and women move from place to place miselling and trying to avoid commission clawbacks. Sam Instone the CEO is clearly in favor of this strategy, it's been part of {{{Redacted}}}' recruitment plan for years.

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LVP CASE ID 16-V0010 – DECISION SUMMARY

On March 30, 2016, Complainant submitted a complaint in accordance with the Legitimacy Verification Program (“LVP”). The complaint alleged posts # 308709, 370884, 437762, 440080, 443749, and 453772 (the “Posts”) contained statements in violation of Pissed Consumer’s Terms of Use. The Posts’ authors (“Posters”) were offered an opportunity to respond to the complaint, as provided in LVP Rule 9, but each failed to do so. Thus, the Posts and the supplemental information provided by Complainant’s general counsel constitute the LVP Record. Having considered the LVP Record, the Third Party Neutral finds and holds as follows: It is more likely than not that the statements in each of the Posts are defamatory, untruthful and inaccurate and, therefore, violate Pissed Consumer’s Terms of Use. Accordingly, Complainant’s name should be removed from each post at issue, including in all comments to the Posts, and the URLs should be changed to remove reference to the Complainant.

Dated: May 13, 2016

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Anonymous
#1446601

The comment on AES hiring failed financial advisers is way off the mark now.I have dealt with Mr Ritchie and he is super qualified and definitely did not offer me a long term servings plan. I had tried other advisers, namely Finsbury Associates and Holborne as well and both of these organizations had their advisers suggesting a 25 and 20 year Generali plan (may be they have a special deal on)Tom

Anonymous
#1142762

*NOTICE OF COMPLAINT*

Please take notice that Complainant has initiated a Complaint against this Post due to alleged violations of Pissed Consumer’s Terms of Use (http://www.pissedconsumer.com/tos.txt) pursuant to Pissed Consumer’s Legitimacy Verification Program. To receive a copy of the Complaint send an email that includes the review number for this Post to lvp@pissedconsumer.com requesting a copy.

You, the Poster, have a right to respond to the Complaint to establish the truth of the Post’s statements. If you intend to respond, you have 20 days from the date this Notice was posted to answer the Complaint. The Answer Form (https://s3.amazonaws.com/pissedconsumer/legal/LVP+Answer+Form.pdf) must be submitted to lvp@pissedconsumer.com within 20 days of this Notice being posted. Failure to submit an Answer within 20 days waives your right to participate in the Legitimacy Verification Program as to this particular Complaint.

All Legitimacy Verification Program disputes are decided by an independent attorney who is not an employee of Pissed Consumer and whose firm has contracted with Pissed Consumer to provide attorneys who will serve as Third-Party Neutrals in conformity with the rules of the Legitimacy Verification Program.

Pissed Consumer WILL NOT reveal your identity or email address to Complainant without your express consent or pursuant to a subpoena or court order.

For more information regarding the Legitimacy Verification Program, please refer to the program’s rules found at http://www.pissedconsumer.com/static/legitimacy-verification-program-rules-and-conditions.html.

LVP ID: 16-v0010.

Anonymous
#1142741

Why do Pissed C not permit post here?

Anonymous
#713595

I find that what-ever negative is being said about {{{Redacted}}} staff and figures to be contrary to what I read and what the rest of the professional industry seems to be saying about them.

In fact, I don't know a single IFA who has not been with a few firms and I cannot see why changing jobs could be construed as failure.

I also find it curious that everyone who writes negative comments about certain IFA's mysteriously lack any references and/or proof of such allegations or accusations in their posts. Must we like "believe" you...ow what? C'mon now, grow up people.

This is what I've gogoled:

? The field-marshal of finance: http://goo.gl/vF1Y9A (The Economist)

? Bringing out the BIG GUNS: http://www.international-adviser.com/profiles-and-analysis/profiles/bringing-out-the-big-guns

? ADVISORS: The good, the bad and the downright ugly ! http://www.expatmoneychannel.com/content/ifas-good-bad-and-downright-ugly

? International awards: http://goo.gl/JdRzh and http://goo.gl/6WuQt

Then there's CEO Sam Instone's Ernst & Young entrepreneur of the year short-listing and some other international industry awards that can be seen on-line. Just google, its as easy as that and this took 2 mins to gather this little bit of info.

They don't seem to be doing too bad at all it would seem? Sunday Times Virgin top 100 Fastest growing financial services firm in the UK? Sound impressive actually, it does not speak of low turnover, drop-outs, failed advisors and what-not to me. On top of that they're FCA regulated in the UK as well.

Sorry, I just don't get it....

Anonymous
to Harry Potter #1052628

My {{{Redacted}}} adviser sold me....a first time investor, a structured product designed for professional investors only, 95% of my money was put into 1 product...I lost €112,000 in one year. This of course was after he sold me the offshore bond...where he made himself a whopping 8%.

{{{Redacted}}} are not interested !

They have got their money.

2 years later I am waiting to hear from the DGS re my complaint.

...will all be in my book in due course...

Anonymous
to Harry Potter #1446605

I did google your poInts. Your facts are correct.I think the negative comments will be from other jelous advisers who want to slag off one of the only decent advisers avilable to expats.

Anonymous
London, England, United Kingdom #713588

I don't beleive that {{{Redacted}}} is a scam company. However the fact is that over 80% of Advisors at {{{Redacted}}} have been unsuccessful financial advisors at their previous firms.

These consultants are therefore easy targets to recruit. Sam Instone's philosophy on recruitment is 'go for the low hanging fruit'. This is the reason why as a company they carry so many advisors who do very little business. It is also the reason that they do not let any other advisors know how their colleagues are doing and are not transparrent with their consultants business figures.

If theywere then this would highlight a huge failing in their overall ability as financial advisors. {{{Redacted}}} started out as a company on the right tracks with good intentions but in recent years has unfortunatly become known as a good place to hide for poor advisors.

Anonymous
to Anonymous #715732

I couldnt agree more with your comments. Check the credentials of the last three advisers they have recruited and the practice still continues.

I also agree with the centre part of the posting about carrying advisers who do little business. With this in mind, the fact that adviser numbers are falling (per Linkedin) and two offices are about to locate to cheaper premises (Qatar and Switzerland) just how do they win awards for the fastest growing financial services business? I spoke to one of the firms who run the awards and was told that the accolade (sic)is given out on the basis of turnover, ie gross sales only.....

Doesn't sense to me. Can anyone come on here and explain??

Anonymous
to Anonymous #716295

Thanks for posting those links, they help with this discussion greatly.

I note that the comments on The Economist article suggest that there is an issue with the qualifications of the advisers that are not in the UK.

The Expat Money Channel link you posted does help with this. Watch the video of a Mr Barnes of the Fry Group. He makes it clear that there is a flood of advisers out of the UK who cannot qualify in the UK. He states that we should be looking for qualifications beyond the UK Diploma standard and not be taken in by a few certificates.

So, are all {{{Redacted}}} advisers qualified to the UK standards or not and should we be looking for higher standards of qualification than this in any case?

Anonymous
to Anonymous Orihuela, Valencia, Spain #957835

I wonder why you are scared to show your name? Got something to hide?

Anonymous
to Anonymous #1076204

Re {{{Redacted}}}...The Economist article August 24 2013 "The Field Marshal of Finance" states

" Wherever they are in the world, advisers must comply with British regulatory and qualification requirements"

This was not the case for the {{{Redacted}}} adviser that sold us our investment....

So this statement is a complete lie!

Anonymous
London, England, United Kingdom #708504

The latest advisers who have joined have come over from the Malta HQ'ed firm. Are these failed advisers too?

Anonymous
#644181

Not all advisors are created equal...and by what authority can you say they discredit others? I've never seen them do this.

Also, I am sure there are some decent advisors suckered into some of the largest groups. We can't prove that they do, and if they do...why not? Take the best staff and give them better if that is your belief, its a practice as old as the mountains.

You dont need an IFA qualification and be an IFA to know you need to stay waaaaaaaaaaaaaaaaaaaaaaaaay clear from people like "the beers" and some of the usual suspects. You would not need {{{Redacted}}} or any other IFA to tell you that. Just google and let the rest speaks for itself.

You can only push the "we're so big, that's why they attack us" BS...booohoo, and the other stuff the attribute to their exponential online attacks, which quite frankly is their own fault as with some others.

You reap what you sow man, what-ever deity you pray to...karma is a be-atch !

Clients are the ones affected and we should be heard !

These cooks that {{{Redacted}}} or this or that is same as The Beers?? There can be ONLY one, and they screw up in style. The bigger they come the harder they fall as they say.

Anonymous
to The goat Zurich, Zurich, Switzerland #644684

Clients are the ones affected and we should be heard !

The above comment you made is 100% spot on but this will only be the case when there is total honesty and transparency in the offshore financial services industry. The point I was making is that there isnt, at least not from any of the so called major IFA's operating in this market.

Anonymous
Zurich, Zurich, Switzerland #643959

If the headline of this posting is inaccurate then why are {{{Redacted}}} still approaching advisers to join them who used o work for the company they try so hard to discredit?

Anonymous
#638132

It seems like your experience is the polar opposite to mine, which is quite strange. I think if this was an underlying issue then it would've been more evident, like 'the beer' and similar companies, surely?

My advisor seems very happily associated, he actually makes a point of praising {{{Redacted}}} when-ever he can and I can see good reason why. So that also conflicts with your experience.

There are so many IFA's in that region...if your experience is that bad, what is keeping you from switching?

My advisor is very mobile, travels all over the world and we connect via SKYPE almost exclusively. I suppose you know that most of these blokes are self employed at the end of the day, so I think your situation seems pretty isolated bar the obvious competitor mudslingers posing out there.

All I know is I have been through a few IFA's and although we almost never connect fact to face, I have never had this kind of personalised service before. My experience with the London HQ has also been very good. Prompt replies, professional communications and information at all times with no exception thus far.

I don't particularly fly the flag for anyone usually, but because I get these notifications I kind of feel obliged to share my personal experience thus far.

Pity you can't use my guy !

Anonymous
Dubai, Dubai, United Arab Emirates #638110

not investors in people at all, as i am a client and have had 3 advisors allocated to me in the 1st year as a client, lots of advisors have left because of the fact that {{{Redacted}}} obviously do not know how to treat staff and keep them happy. all in all it seems to be a very poor organization with all of the glossy branding but no substance. Very unhappy with the service, or lack of it should i say.

Anonymous
#636348

Agree with The Truth.

I am a client as well, albeit only a short while, I am very happy as I have seen just about everyone else before... the One's and everyone else in the numeric system, The Beers (had to see for myself!) all the Global-whatevers, and Eye's and rest of the organ families and then some real gunslingers as well.

I have an online business and make is my business to research who I do business with. I am very happy with the service and advice thus far, very professional and the guy is not some drop out either, even produced a qualification as I'm not afraid to ask or swallow whatever is dished up.

The original comment smells a lot like "a-beer" gone off...and those in the know will know exactly what I'm talking about!

Ye ol google works great, once you filtered out the obvious posts by staff ragging their competitors. (haha, so obvious. It does not really work any more mr ex washing machine salesman- well most of whom I saw were something along those lines anyway- everybody has caught on to those signature style tactics)

Who cares about how BIG you are and how many offices you have? I do this exactly for the opposite reason, because I want SERVICE and quality advice. I don't WANT to be just another number in your BIIIIIG operation who is dodging bullets (for how many years now?) and where the love grows cold as soon as your clawback period is over. Yes, we all know about that.

Anyway, always interesting to read the posts though, but I think more happy clients should stand up and be counted.

I don't really like knocking other companies, its common knowledge for competitors to post rubbish to distract from their own tarnished performance records, quite funny actually.

How does the saying go? The bigger they come the harder they fall. Viva regulation, viva service, viva personal attention, viva companies like {{{Redacted}}} I say.

Well done boys, just don't ever drop the ball !

Anonymous
#636095

So which product gave you 6%, The Truth? No problem if you can't answer the question because it's highly confidential... ,)

Noneeded
#607586

To want to expose bad practice: send the link of this site and threads to everyone you know and ask them to keep sending forward...and just ask people to read and think twice before taking advise from anyone company listed in this site.

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