Ian B Dpa

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Mis sold pension policy

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Blacktower Financial Management - Mis sold pension policy
Blacktower Financial Management - Mis sold pension policy - Image 2
I was Mis sold a pension policy with black tower. My pension funds were badly invested in huge costs policies with no explanation on the pitfalls of the policy invested in and no warnings on the extortionate fees. Only recommendations that the policy was suitable for my needs. Which it wasn't, only suitable for the company and their pension advisor who is making the most money out of me, and my funds at a loss of 30,000 euros!
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Loss:
$30000
Cons:
  • Poor advice no information hidden fees
  • Misleading sales of policies for company gain

Preferred solution: Compensation

User's recommendation: Do not invest with this company unless you want to lose your money!

Ian B Dpa

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Mis sold pension qrops. scheme.

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Along with my husband i am appalled at the way this heartless company conducts itself. We were sold a pension plan (Qrops) by one of their pension advisors. We invested all our pension money into this company upon recommendation by their advisor to invest our total funds in an Utmost Executive Bond. What we werent told is the true facts of this policy, all the extortionate hidden fees that we were being charged, the crazy surrender charges to come out of it, and the continuing draining of our funds over the years which has cost us a HUGE loss of our pension funds, which we have worked all our life for. We had to hear it from a current pension advisor, the reasons why we should never have been invested in this type of policy due to the funds we held, which were not sufficient enough to warrant this type of investment. We were told nothing, no initial information or warnings, no updates, confusing and mis leading paperwork, so much was hidden obviously to the gain of the company and their advisor! if you value your lifetime pension fund then DO NOT invest with this company BLACKTOWER or UTMOST!.
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Cons:
  • Mis selling pension policies

Preferred solution: refund on losses due to mis sold policy.

User's recommendation: dont lose your money to this company!

Yvonne B Nll

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This company robs you of your savings or pension!

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Blacktower Financial Management - This company robs you of your savings or pension!
Blacktower Financial Management - This company robs you of your savings or pension! - Image 2
i am appalled at the lack of empathy this company has. i took out a pension policy with them and i was given wrong advice by their pension adviser who was employed by them, and my hard earned uk pension was put into the wrong investment scheme with UTMOST which has now to date lost me tens of thousands due to very high hidden policy fees and very poor investment choices! 5 figure numbers lost! Pension adviser / company made huge profits! But Blacktower will not accept responsibility for the damage done even though it is blatantly obvious with the value of my fund now to what it was when i first invested the money. And my recent discovery of all the hidden fees on this policy that they recommended! Dont ever trust this company with your money! And it seems here that other people have had the same experience!! Blacktower own up to your mistakes!!! Date of experience: June 01, 2023
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Loss:
$30000

Preferred solution: Reimbursement on the money they have stolen on our pensions due to mis management

User's recommendation: Do not invest your money with this company, you will lose it!

Anonymous
map-marker London, England

BLACKTOWER AND WORLDWIDEBROKER - PAUL BROWN THIEF

DO NOT PAY PEOPLE MONEY OWED TO THEM NEVER EVER EVER TRUST THESE LYING *** - THEY HAVE EVEN THREATENED!!! WHAT A JOKE!!

HAS SENT THREATENING MESSAGES TO CLIENTS/CANDIDATES!!

PAUL BROWN HAS LITTLE TO NON PROFESSIONAL DECORUM OR FINANCIAL KNOWLEDGE IF IN DOUBT GO TO ONE OF THE BIG PLAYERS INSTEAD.

HAVE JOINED WITH BLACKTOWER NOW SO BE AWARE THAT DUE TO BAD PRESS THEY ARE REBRANDING.

OPERARTED UNLICENSED IN COUNTRIES SUCH AS RUSSIA AND ITALY- THEY HAVE NO UK FULLY QUALIFIED IFA'S WORKING IN THE HOLLAND OFFICE ALL JUST HAVE CII BASIC QUALIFICATIONS DONT RISK YOUR MONEY........

PAUL BROWN, LUKE HUNT, LUKE FORREST NOT TO BE TRUSTED!

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Loss:
$5000
21 comments
Elivia Xye

Looking to share experiences with pissed clients of WWB / Paul Brown / Blacktower.

Guest

Hi,

Anyone know how to get WWB to pay up when they lose a case of misselling? I have friend who went through the regulator in Holland and got a judgement against them, they appealed and they lost that but still won't pay up.

Any ideas gratefully received.

Guest

Downtown Paul Brown.....back at it again.

Guest

I just came across this and have to say that Blacktower has made me money over the last 2 years. If you are expecting to get rich over night then you do not understand the financial industry.

I highly recommend working with Peter Button.

He specializes in this and was able to make me a good amount of money by moving my pension out of the UK. I have met Luke Hunt as well as Paul Brown and know as a fact that the compliance they must follow just to get a deal is so tough that they do everything to the T.

Guest
reply icon Replying to comment of Guest-1276098

Your the only one. Or do you work for them ?

Guest
reply icon Replying to comment of Guest-1276098

I would just like to take this opportunity to thank my client for writing a positive comment about my professional services.

It is through clients such as yourself that I continue to strive for the highest levels of services and continued professionalism.

Please would this client send me an e-mail so that I can personally thank them for their positive recommendation.

For all those who are unhappy with the service they have received, I find this unfortunate.

Blacktower is the most reputable company in the industry due to our vigorous compliance procedures and strict protocols implemented through our regulators. Please get in touch if you have had an unfortunate experience with us, we will endeavour to rectify these issues and restore the faith in our organisation.

Guest
reply icon Replying to comment of Guest-1276098

Do you work for these con men ?

Guest

I also have had a very bad experience with these sales men, because that is what they are. They are selling products from Zurich, Old Mutual, RL: who on the face of it are well-known large companies.

The problem is signing up to paying huge fees and charges (eg4-6% which is outrageous), further they all have an ICP (initial contribution period) of 18 months - so basically kiss goodbye to the first 18 months of contribs. These large insurance companies pay huge amounts of commission to Blacktower when consumers sign up. It is in their interest to keep you there with them.

If I compare fees and charge, on an EFT account, typically you pay around 0.5% fees and charges. Just inform yourselves people, the advisors at Blacktower are not going to be open about these fees.

Guest
reply icon Replying to comment of Guest-1151677

Could not agree with you more.

Ellena Gis

Further to my previous post, I would like to confirm that the situation has now been amicably settled and that no further grievance exists with either Paul Brown, World Wide Broker or Blacktower. Legal action is no longer pending and the matter has been fully resolved.

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