Abbey Financial Solutions

[Pagey]

Have any forum members used or had dealings with Abbey Financial Solutions over the last few years ?

I've only invested in offshore fixed term bonds for the last 9 or so years but as rates are now under or around 2% I was looking to invest a portion of my capital which is only earning 1% in a current account.

I'm a bit skeptical about the fact they are in Spain so not under UK regulations and having to pay charges plus exit penalties.

PM me if you don't want to put your thoughts and experiences on a public forum. Thanks.

[lomuamart]

Are they a part of Santander? The reason I ask is that my old UK mortgage used to be with Abbey (ex Abbey National) until they were taken over by Santander which is a Spanish company.
There's probably a link there however I'm afraid I've had no dealings with Abbey FS so can't advise except to say that Santander are a rather large company.

[Pagey]

No Lomu, nothing to do with Santander or the old Abbey National BS.

[HHTel]

They tried to move my pensions to a QROPS a couple of years ago. After couriering lots of paperwork to and fro, they failed and totally lost interest. No explanation, no apology, they just stopped any communication with me. Since then I've dealt with a BKK financial company who managed to move my pension to a QROPS in Gibraltar in a short time. They also helped me with other things which led to a million baht transferred to my account. They made nothing on the extra help they gave me. They are part of the DeVere group and they visit Hua Hin regularly which is far better than dealing with someone in Spain.

I would personally give Abbey a miss.

[Vital Spark]

Pagey: We contacted them a while ago when we were unhappy with the returns that we were getting with our current financial advisers (term used loosely). Abbey seemed to be promising an awful lot of help for no (apparent) fees, and this made me instantly suspicious. They were so keen to get our business, they did become rather bothersome with their phone calls. I just had a vision in my head of some spikey haired kid at the end of the phone, with targets to meet to finance his booze-ups at the weekend. If you google them, their customer recommendations seem a bit too good to be true (I'm suspicious, again). We haven't signed up with them, but perhaps I'm a bit too twitchy when it comes to giving an 'unknown' my dosh. Sorry, this isn't much help, but it's just my two pennies' worth.

VS

I agree with HHTel. Better to deal with someone who you can meet face to face.

[Pagey]

They tried to move my pensions to a QROPS a couple of years ago. After couriering lots of paperwork to and fro, they failed and totally lost interest. No explanation, no apology, they just stopped any communication with me. Since then I've dealt with a BKK financial company who managed to move my pension to a QROPS in Gibraltar in a short time. They also helped me with other things which led to a million baht transferred to my account. They made nothing on the extra help they gave me. They are part of the DeVere group and they visit Hua Hin regularly which is far better than dealing with someone in Spain.

I would personally give Abbey a miss.

Thanks Tel, I had talks with DE Vere about 3 or 4 years ago but after googling them I passed as their reputation is very poor but glad it worked out for you.

Pagey: We contacted them a while ago when we were unhappy with the returns that we were getting with our current financial advisers (term used loosely). Abbey seemed to be promising an awful lot of help for no (apparent) fees, and this made me instantly suspicious. They were so keen to get our business, they did become rather bothersome with their phone calls. I just had a vision in my head of some spikey haired kid at the end of the phone, with targets to meet to finance his booze-ups at the weekend. If you google them, their customer recommendations seem a bit too good to be true (I'm suspicious, again). We haven't signed up with them, but perhaps I'm a bit too twitchy when it comes to giving an 'unknown' my dosh. Sorry, this isn't much help, but it's just my two pennies' worth.

VS

I agree with HHTel. Better to deal with someone who you can meet face to face.

AFS get their commission from the institution where they place your money, not direct from you that's why they don't charge you a fee. Actually one of the forms they sent me has a photo of the advisor on it and he was a smartly groomed man in his 40's !

Maybe I will stick with my 2%................

[HHTel]

They tried to move my pensions to a QROPS a couple of years ago. After couriering lots of paperwork to and fro, they failed and totally lost interest. No explanation, no apology, they just stopped any communication with me. Since then I've dealt with a BKK financial company who managed to move my pension to a QROPS in Gibraltar in a short time. They also helped me with other things which led to a million baht transferred to my account. They made nothing on the extra help they gave me. They are part of the DeVere group and they visit Hua Hin regularly which is far better than dealing with someone in Spain.

I would personally give Abbey a miss.

Thanks Tel, I had talks with DE Vere about 3 or 4 years ago but after googling them I passed as their reputation is very poor but glad it worked out for you.

Pagey: We contacted them a while ago when we were unhappy with the returns that we were getting with our current financial advisers (term used loosely). Abbey seemed to be promising an awful lot of help for no (apparent) fees, and this made me instantly suspicious. They were so keen to get our business, they did become rather bothersome with their phone calls. I just had a vision in my head of some spikey haired kid at the end of the phone, with targets to meet to finance his booze-ups at the weekend. If you google them, their customer recommendations seem a bit too good to be true (I'm suspicious, again). We haven't signed up with them, but perhaps I'm a bit too twitchy when it comes to giving an 'unknown' my dosh. Sorry, this isn't much help, but it's just my two pennies' worth.

VS

I agree with HHTel. Better to deal with someone who you can meet face to face.

AFS get their commission from the institution where they place your money, not direct from you that's why they don't charge you a fee. Actually one of the forms they sent me has a photo of the advisor on it and he was a smartly groomed man in his 40's !

Maybe I will stick with my 2%................

The problem with De'Vere is the CEO. Yes, he's won lots of awards and he's quick to shout about it. If the organisation was down to him alone then I'd steer a wide berth. However although his minions don't really like him, they are the ones bringing success to the company. My contact in BKK although a separate company are affiliated with the De'Vere group but are technically independent. I've met the guy (Mark) several times. He's English and worked in the UK in the pension scenario. I would trust him without question.