continental wealth management
13 Replies
Replies
The only question I would ask is why use a company based in Spain and regulated by Cyprus when there are loads of uk registered and based companies which are controlled by the the likes of FSA. and which are therefore 100% safe ? |
I think you have answered your own question in as Spain and Cyprus but which part of Cyprus it does not really matter. Would you seriously entrust your pension and cash to these guys! rdgs |
| I have looked at their website. I would be concerned about investing/trusting in a company based in Spain but regulated in Cyprus. I saw nothing on their website about any protection - like you would be with a UK based company. Who are they regulated by in Cyprus? |
Best you do some additional research with regard to exactly what they are offering. Usually they are offering advice, and you should be prepared to pay for that wherever they are based. The more important thing is who is holding your money, who are the trustees, who can give orders to change investments etc. Personally I use a company of advisores based in Spain, and I happily pay for thier advice, but at no time do they have control of my portfolio and pension, which are held elsewhere, in trust for me, with only my authorisation permitted to move monies, change investments.etc. Check the qualifications of the individulas giving advice, check with which institutions investments will be held (often in the CI, Isle of Man or Ireland) and check how monies will be held and to whose order. Whilst there are some crooks out there not everyone is bent and a little common sense will set you right. |
There are a lot of these type of companies springing up, some legit, others dodgy. There was something about it on the radio a few days ago. Personally I would be wary of anything regulated in Cyprus. If you need pensions tracing, the Pensions Service have a free scheme. www.thepensionservice.gov.uk, which we have had some success with. Karen |
Thanks to everyone who has posted we will undertake more research into the whole issue, we were approached by them so hadn't thought of releasing pension monies before. much to think about we're in no hurry. but i'm not the only person whose been contacted in this area (evran) so i suppose it's a heads up to us all that this company has arrived in brittany seeking business. cheers again to everyone k |
does anyone have a number for the rep as I need to contact him regarding info he took from us and hasn't yet returned
thanks |
DO NOT get involved with Continental Wealth Management, I was given a glossy brochure with assurances that my money would be safe, I have lost £40.000 in less than 3yrs, & they are now saying that the financial adviser they sent to see me was really nothing to do with them. They will lose your money, I know someone else who has also lost his money.
I have had the same experience as Rickardo47: It would be interesting to see how many more of us there out there!! Do NOT get involved!
If they have approached you that should ring alarm bells.If you want help and advice there are plenty of people in France and the UK who you can contact You already have two people who have lost considerable amounts of money so you have been warned
