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Old 01.03.2014, 22:37
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'Financial advice made my pension dive from £89k to £20k', says expat

Can we guess which firm gave the advice? Yes, we can. But we can't name them here, of course.

'Financial advice made my pension dive from £89k to £20k': Victory for expat retiree as This is Money gets his pot restored
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Old 01.03.2014, 23:40
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

you don't need to say it, it is written in the first paragraph
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Old 11.03.2014, 14:49
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

No surprises, I bet there are many who have invested with this company who have seen similar losses, maybe a claims company should get involved and start claiming back the money, they seem to have set their own precedent here.

I am willing to offer advice on this if anyone wants to PM me
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Old 11.03.2014, 15:23
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

A claims company would charge a fee. The person who got his money back by going to the media wouldn't have had to pay a thing.

There is also something known as a recovery room scam.
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Old 11.03.2014, 15:36
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

Good call, but if everyone just goes to the media, they will not highlight every single case, eventually they will be ignored, and if I am correct there will be thousands of people worldwide who have been mis-sold pensions and investments by these companies, because i know they use bad practice and high pressure selling techniques, and they dont give a dam once the investments has been made or pension signed up, they do not look after you, so after a number of years the pension fails, because they are put into bad funds etc.

We have all read the many forum posts about these companies, and read the reports on pissed off consumer website etc, but they still actively recruit new business and still trade, surely it is time to start claiming back misold pensions from these people, hurt them where it matters, moaning about it and warning people doesent do anything long term,

I just dont know if there is any jurisdiction in each country, they dont even seem to be regulated in a lot of countires, unlike the UK, and they know this.
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Old 11.03.2014, 15:55
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

Quote:
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...maybe a claims company should get involved and start claiming back the money...I am willing to offer advice on this if anyone wants to PM me...

We have all read the many forum posts about these companies, and read the reports on pissed off consumer website etc, but they still actively recruit new business and still trade
It's interesting that you've been reading these threads and are offering advice on claiming money back. Your first post here was to express interest in a telesales job.
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Old 11.03.2014, 16:18
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

"At the time, the investment adviser on the SGF was a firm called United Asset Management (UAM), formerly owned by ****** chief executive Nigel Green, who relinquished control of UAM in September 2012."

Interestingly the fund was owned by the owner of the Intermediary company, that does sound dodgy to me.

http://www.thisismoney.co.uk/money/p...ll-80-000.html
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Old 11.03.2014, 18:18
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

International Adviser

Quote:
According to one source familiar with the situation, in 2012 the fund manager began investing into a South African private equity company which ultimately performed badly. The owner of the private equity firm was shot dead in September of that year but, despite this, it is believed the fund manager continued to invest into the private equity firm.
Former hedge fund boss dies in shooting incident
SA fund manager faces big losses

The South African fund manager named in the second article is named here as a former director of a 'cell company', one of whose cells was the fund into which the client's money was invested, and which is also named in that link. Another director on that list is also named here, as the former manager of the intermediary company.

It all seems very complicated, but Googling the names and cross-checking company registration details in the Swiss commercial registry turns up some interesting results and interconnections.
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Old 29.04.2014, 18:10
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

Investment giant buys angry reader's silence
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Old 17.02.2018, 12:00
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Re: 'Financial advice made my pension dive from £89k to £20k', says expat

I had a similar experience in Basel. I had a UK final salary scheme for 17 years which is now lost a huge amount of money. So much for being a full time working mum all those years to then have no decent retirement to look forward to. I canít believe they are allowed to operate like this. It appears they are driven by commission that they donít make transparent to you. They sell themselves as independent advisors. Anyone know who I can complain to to stop other people being robbed!!!
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