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Holborn is a global wealth management company, with head offices in Dubai, UAE. Recognized as the favoured Financial Services Company in the UAE, Holborn has been known for employing a client-centric approach to ensuring future financial stability to customers and their beneficiaries. Engineered to deliver premium quality service and advice to clients, Holborn helps ensure that the client will have money put in the right place at the most appropriate time. Delivering flawless execution of various financial planning and management services, Holborn Dubai caters to the 80% UAE expat population. The company observes a firm set of business principles to provide its roster of services with complete integrity and respect for all. Without overstepping boundaries, Holborn advisors adhere to a strong business concept that helps them provide the highest standards of financial planning while adhering to established international standards.
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.
Verified Reviewer New ReviewerDubai licensing and regulations
Update by user Apr 01, 2020
With thanks and permission from Pensionlife.
Original review posted by user Apr 01, 2020
Following the miss-selling of New Earth fund by Holborn Assets, I undertook some research, as follows: UAE Insurance Authority. Licence number 180.Having a licence granted by the IA means that the company has been set up in accordance with their rules. Pension Life: Holborn Assets had their licence suspended due to a contract lawyer client working for a firm in Dubai who was advised by financial adviser Joe Capaldi to place his investments in an RL360 insurance bond resulting in a loss of 500,000 GBP and the subsequent successful complaint to the IA. Holborn Assets has issued an email to all advisers informing them that all future business will be conducted through the Bahamas office until this situation is resolved. Their licence was re-instated after one month. Wonder why. Dubai Economy Commercial Licence. Licence number 561405 A licence required to run any commercially run company within Dubai.It is not a regulatory body. Holborn is registered on the insurance broker list, not as financial advisers. Dubai Financial Services Authority. NOT LICENCED Only operates within the free zone called the Dubai International Finance Centre. "Proudly enforcing financial regulation as within the UK." Holborn Assets is not situated within the Free Zone and therefore has no need to be licenced. The financial adviser allocated to me was self-employed, ferile, and could thus recommend funds from other sources, as he did do. Interestingly, he was listed as a vice-president of Holborn at the time! A UK based adviser has to have commercial indemnity insurance. This is not required in Dubai in the case (as above) of Holborn Assets. It is unfortunate that one bad apple can tarnish the high reputation of the UAE. Good advice from a Dubai resident...... "If you are contacted by Holborn Assets, run away as fast as your legs can go"
4 comments
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Loss
$88
Preferred solution
Full refund
Holborn Assets - Holborn 'Rip Off Merchants'
author's review
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New Reviewer
HOLBORN asserts £56000 to zero in UK pension lost less than three years after following HOLBORN Assets advice
Hi John Apologies I thought I had come back to you on this, but checking my email I have not. I have been back to both IVCM your SIPP provider and Old Mutual the underlying platform provider. They have confirmed that the AMT futures fund manager charged a 5% penalty on the original investment amount resulting in a penalty for withdrawing from the fund of GBP2,436, this 5% penalty does not decrease over time (as would be normal for a mutual fund) and was for the whole term of the investment within the AMT fund. This 5% charge plus the penalty charges and already overdrawn position on the Old Mutual Bond resulted in a negative balance on the overall bond of minus GBP2437 which technically was owed to Old Mutual. Old Mutual have written of this ‘debt’ and therefore there is nothing left in the pension account to be paid to yourself (but also no debt to Old Mutual). I have seen the recent press about Holborn but do not know any more information than yourself at this point. The above is obviously not what you wish to hear but, let me know when you are next planning on being in Dubai and we can organise to meet and I can try and help you in anyway that I can. Kind Regards ( name withheld as case is sub judice ) Wealth Manager
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Holborn Assets - Review in Financial Services category
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No customer service ,untrustworthy business practice
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Holborn Assets Pension Agreement Review from Bitem, Catalonia
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Holborn Assets
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New Reviewer
Holborn Assets Investments Review
LVP CASE ID 16-DHP0014 On September 8, 2016, Complainant submitted a complaint in accordance with the Legitimacy Verification Program (LVP). The LVP Complaint alleged that the post found at the following URL was defamatory in violation of Paragraph Two of the Terms of Use: Full URL of Post: http://www.holbornhub.com/holborn-asstes-lost-85-of-my-uk-pension-in-18-months-201507****2533.html/ The post’s author (“Poster”) was offered an opportunity to respond to the complaint, as provided in LVP Rule 9; however, the Poster failed to respond. Having considered the materials submitted in accordance with the LVP Rules, we hereby find as follows: The Post is more likely than not false, inaccurate, and in violation of Pissed Consumer’s Terms of Use. Accordingly, we recommend that the Post be removed in its entirety. We also recommend that the title of the Post be regenerated so that the title is removed in its entirety. Dated: October 10, 2016
1 comment
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Location
Dubai, Dubai
Reason of review
Poor customer service
Holborn Assets - Message for UK Expats in UAE, Beware Paul Reynolds
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Holborn Assets - Investments Review from Dubai, Dubai
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Endless cold calls to hawk their stock garbage
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Holborn Assets - Ex Holborn Advisers commenting on this site.......
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Unable to provide basic information to questions listed below
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Holborn Assets - Investment Review from London, London
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Far better than the rest
My account was previously managed by another financial adviser from another company and, with all due respect, I didn’t cross the line of 3% interest, max. Since Holborn took charge of my investments, I have seen the number climb sometimes to more than 8% and I’m not complaining about it :) Obviously, it’s a long term investment and it’s funds investment, which means there’s risks. However, for the time you managed my account you proved to me I can trust your decisions. And God knows I don’t trust easily when it’s about money and the future of my family. When I come to your office, I don’t feel I’m sitting in front of an advisor who puts in priority his commissions and forgets the well being of my investments. I feel I’m having a chat with a good friend who cares about me and my money.
Testimonial
Holborn Assets is a paying client of Opinion Corp and utilizes its services to proactively identify and correct customer service issues.
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Reason of review
Good customer service
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I too have problems with Holborn
Me too
Can anyone help me with some information about what this means. My aunt had financial advice from Joe Capaldi and I am trying to piece together what he did with her investments.
He invested her money in RL360 and also used her money towards funding a company in Dubai called The Dynamic Zone. Is there anyone out there who may be able to shed light on who I can inform to investigate the said financial advice he gave her.
From my experience: If you are not resident in the UAE the regulatory bodies are useless. See above.
Pension Life is as good as a balloon in a hurricane. If you can find a law firm in Dubai that will answer your questions, it would be the best route. Try posting on Trustpilot with a one star rating. Holborn will respond and try to wriggle off the hook.
Capaldi worked for them so they are liable as well. Wish you good luck.