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Holborn Assets's reply to:

Holborn Assets in Dubai, Dubai - Ex Holborn Advisers commenting on this site.......

As an Adviser who works with Holborn I sometimes read these comments and think there is no point in answering them because we all know who posts them. However, I simply cannot listen to this tripe any longer.. So, I shall answer your points in order one by one and then hopefully you; and the people you point towards this terrible site, will understand more clearly. 1. Qualified or not: Of all the advisers within Holborn Assets ‘Most” (probably 95%) are qualified to give advice on UK investments, products etc. Those that are not qualified would not be allowed to advise you. They are most likely trainees or working within practices. They will have taken an entrance style qualification to get them on their way to full qualification such as FAIQ or a basic CISI paper. If your initial contact is with one of these trainee or practice advisers then that would be purely for information gathering and they might advise you on elements of financial services that they are qualified for. Any other advice would be given to you personally by a fully qualified adviser. Also, that adviser would put that advice in writing and put their name at the foot of that advice with their own signature. 2. Independent or not: This is wildly inaccurate – Yes RL360 are one of the companies Holborn represent and yes, we have a white label product with RL360. Firstly, this is because RL360 value Holborn Assets and understand that we have a commitment to giving the best advice available. Ask yourself, why would a company like RL360 tie their global reputation to Holborn if they were not completely satisfied with the levels of advice, competency and compliance? The HARP product is very successful but it makes up only a percentage of the other products recommended by Holborn. Whether Holborn Assets gets paid more than another company on any product or services is debatable. All IFA’s will claim to have exclusive arrangements with at least one of the product providers. Some with Generalli, some with FPI and others with Zurich or OMI etc. It’s more down to the product providers than the IFA’s. Any increase in remuneration to the company would be from the providers own margins or profits and would not increase the standard charges to the client at all. We have our own small fund range and we encourage its use however there are hundreds of other funds being recommended every year by Holborn Advisers. It is understandable that we may incentivise our funds use, just as any other company would with any other product they create. The point you are missing here is that if the fund is not suitable for a client, it will not be advised to the client. Compliance would see to that in a heartbeat. Secondly, Holborn Assets also represents, Generalli, Zurich, Friends Provident Momentum, Brooklands and OMI; among a host of others, where they and we hold a license to do so. There is an almost equal spread across the board on the products advised from Holborn Assets. 3. Unsolicited contact or not: Cold calling is illegal in the UAE and marketing of financial services products is always a tricky one for IFA’s globally. I cant answer where your details may have come from but I can tell you this, I personally have many clients that have praised the fact that a particular problem or challenge was brought to their attention and that we were able to satisfy that need for them. For every one that is happy there will be another that is not; clearly where you fall. However I would rather help one family by providing life assurance or other crucial products than have missed them altogether. If you have everything in order – and I seriously doubt it – then carry on and ignore us. 4. Misrepresentation: See all the other replies I have made. 5. Business and / or Christian ethics: Stating that we believe we are the most professional, most ethical company in the market place is not “slating the competition”, it is simply stating what we believe to be a fact. Just like any company in any industry we have a belief that we are darn good at what we do. Apple never became one of the richest companies on the planet by saying “we probably make fairly good computers”. They have belief in themselves just as we do. And, if stating to a client that they are literally paying two or three times what they need to on a certain product or service is going against business principles (never mind Christian ones), then there is something very wrong with your view of business, financial services or just the world in general. 6. Licensed and Regulated: This one is my favourite – You obviously know where our office is so why don’t you pop over and ask to see our licenses (plural) for the UAE. Whilst you are at it, you could ask to see the UK FCA license, the Dublin European License, the South African license etal. Finally, I highly suspect that these comments were written; like all on this site, by upset and disgruntled ex-advisers of Holborn Assets. It’s plain to see that there is at least a shallow understanding of the market place in your tone and the language used in your review. It takes a lot to fail at Holborn Assets, there is support both emotionally, professionally and where required financially. There are training programs, we pay for the exams that you claim nobody qualifies in, and there are splendid offices around the world and lots of other support programs. If you failed with Holborn its most likely because you could not sell what you wanted to sell such as unregulated funds or high commission paying funds, you were unethical or you just hate being professional. Or maybe, you could not keep up with the examinations and qualifications required to maintain your position at the company. It is also possible that you interviewed with Holborn and were rejected and now you are facing stiff competition for your services. Either way, I think any potential client should meet with an adviser, visit their offices and even ask to see the license or the adviser’s qualifications and they can make their own minds up. That goes for any financial advisory firm anywhere in the world, not just Holborn. We have nothing to hide.
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#662437 Review #662437 is a subjective opinion of poster.
Tags
  • Misleading Facts
Holborn Assets's reply to:

Holborn Assets in Oudtshoorn, Western Cape - Unable to provide basic information to questions listed below

How, when and from what source or sources did you acquire my details? including my contact details? What? regulatory body or bodies are Holborn affiliated with, or subscribe too. What? overall jurisdiction governs the activities of Holborn as it relates to the pensions side of the business. If and when a UK pension is transferred offshore, what element of control does the client have? If ? the client wished to have it transferred back to the UK, is this possible? and is it subject to penalties? Finally, It would be much appreciated if you can email me copies of papers I signed at our meeting.
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#613383 Review #613383 is a subjective opinion of poster.
Holborn Assets's reply to:

Holborn Assets - Investment Review from London, London

I received an unsolicited email from a business development manager and within the space of a few minutes a couple of follow-up calls. This person was trying to book me an appointment with a so-called UK qualified financial expert who apparently provides independent advice. This expert is apparently licensed to advise on investment and insurance products. 1. Very few if any Holborn Advisors would be qualified to advise on investments in the UK, this is a complete fallacy. Most only have the minimum level Certificate in International Wealth Management, a single module course from the CISI that anyone with half a brain, a few days study time and a calculator could pass. Many don't even have this. 2. Holborn Assets are not independent, they sell one white-label saving plan which they market under the name Holborn Assets Retirement Plan (HARP), and one lump sum investment product, which investors only get a choice of investing into 3 core holdings - their own broker funds. These products are both supplied by Royal London. Holborn receive volume override commissions on these products (they get paid more than all the other brokers) because they are tied into exclusive agreements. And they also receive a healthy commission on their own Old Broad Street broker funds of course - regardless of their appalling performance! 3. They advertise on the radio that they do not cold call. Cold calling for the solicitation of financial products is illegal in the UAE as they surely know this and yet still conduct telemarketing within the UAE and across the Global. I would like to know how they managed to obtain my private email address, my phone number and then contact me unsolicited? 4. If their financial salesperson is indeed a UK qualified expert, and intentionally making the claims above then he/she is actually deliberately mis-selling the public and also guilty of misrepresentation. 5. Holborn Assets like to slate all the competition saying they are the most professional, qualified, etc, etc, etc. They even contact clients of other brokers with misleading scare tactics, trying to disturb people to switch to them - this is hardly exemplary of the kind of "strong Christian ethic" they claim is at the foundation of their principles. 6. On the message from the CEO on their website, it clearly states that they are regulated in all the countries they do business in. This is again a total fallacy - they do not even have a license in the UAE where their head office is!
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#604389 Review #604389 is a subjective opinion of poster.
Tags
  • Misleading Facts
  • IFA dubai
  • misleading business practices
  • Cold Calling
  • Financial Planning Dubai
Testimonial
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...
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#724162 Review #724162 is a subjective opinion of poster.
Reason of review
Good customer service
Holborn Assets's reply to:

Holborn assets scammers won't leave me alone

I spend all day listening to radio adverts which say that Holborn arent like anyone else in dubai and don't cold call but keep getting pestered by some *** on the phone to transfer my pension into a qrop. This is EXACTLY what the advert is against!!!! It was funny the first time but I now see they are more full of *** than deVere and a complete bunch of lying, two faced, untrustworthy salesman desperate to do exactly what they preach against. Colleagues have already warned me that their investments have been consumed by terrible performance when the markets are at an all time high. LEAVE US ALONE!
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#602019 Review #602019 is a subjective opinion of poster.
Tags
  • IFA dubai
Holborn Assets's reply to:

Holborn Assets Dubai - cold calling

I am currently seeking new employment and have utilised a well known UAE job seekers website to enter my details onto. I found out today that Holborn Assets in Dubai viewed my details and CV on the 15th February 2015, and then used the data to cold call me yesterday, 16th February 2015. The company will be brought to task as I have raised a complaint with a number of UAE institutions. Best to avoid any company that cold calls you, especially if they use this form of inappropriate behaviour. It is also wise to ensure that they are licensed to operate with the Dubai FSA or other centralised authorities.
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#596773 Review #596773 is a subjective opinion of poster.
Tags
  • Cold Calling
Holborn Assets's reply to:

Holborn Assets Very Bad Financial Advice

My experience with Holborn Assets in Dubai is very negative. They advised me to invest in a fund scheme and a pension with very high fees, both of which involved a locking money in for years and big penalties for withdrawing the funds. The only reason they push these products is for large commissions. Due to the high fee rates being charged (up to 3%), they have to invest in more high risk funds to make a reasonable return. People who think that are getting a good service, don't understand how much more money they are losing from the heavy fees and commission! There are lots of websites that have bed reviews for Holborn Assets - search for yourself. I blame myself for not doing a thorough check of their credentials. To sum it up they are a talentless set of thieves.
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#588552 Review #588552 is a subjective opinion of poster.
Testimonial
It amazes me that if read correctly, all the complaints on this site for Holborn are technically by financial services employed people, as their grasp of the investment process is beyond the average layman. Holborn Assets have looked after my pension 4 years running...
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#556480 Review #556480 is a subjective opinion of poster.
Pros
  • Personalised proffessional service
Reason of review
Good customer service
Holborn Assets's reply to:

Holborn Assets - Commissions Driven Business

I have recently returned to the UK from Dubai and can say this about ALL financial services companies in Dubai including Holborn Assets where I worked. They all want to sell you something that firstly benefits them. The longer they sell you a savings plan for the more they earn..the penalties for leaving before you complete the term are huge. They also try sell you more risky funds which again pay them a huge commission and when the *** hits the fan you are on your own. So glad to be back in England and making an honest living again...Steer clear and send your savings home and avoid all the sales *** you hear....
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#554970 Review #554970 is a subjective opinion of poster.
Holborn Assets's reply to:

Holborn Assets in Dubai, Dubai - Cold Calling

Holborn Assets claims to never cold call its prospective clients. However, having seen first hand how they operate I would like to expose this as false. Instead of being honest like the Devere's of Dubai and just straight out cold calling, Holborn has set up a bank of telephones, rigged to appear to call through a London landline number. They'll then pretend to be calling from a third party company that would like to recommend you to one of their partners in Dubai. This will always be Holborn. This would be fine if it wasn't an integral part of their marketing position to not participate in such tactics.
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#520531 Review #520531 is a subjective opinion of poster.