Anonymous
map-marker Liverpool, New South Wales

Royal London 360 Investment Service Review from Liverpool, New South Wales

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We invested for 20 years and picked the chinese opportunity fund well before China took off. When we realised that the returns were not in line with what the fund was doing we complained and were told of the high cost of administration. We told them that this was not explained to us and asked for a refund of our money as the advisor had not told us about the fees. Rl360 told us that they were not responsible for what the advisor has said. We have stuck this out for 20 years and have never been able to make any sense of the statements and made 6%. Do not use rl360. They are just a bunch of scammers.
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Reason of review:
Problems with payment
1 comment
Guest

Dont agree

Calen Iyx

RL360 Quantum

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Updated by user Dec 05, 2016

Update!

It is the advisor from Montpelier Group that has mislead me and not RL360. RL360 is only guilty of providing a hard to understand and bad product.

Original review Dec 05, 2016
I also *** up! Yes, just another fool that got sucked in.

I entered the Quantum plan November last year and has been paying 3000usd/month on a 20year plan. I understand the plan now and if I finsh my initial period I will have to pay ~420usd/month just to cover the charges. If I chose to continue with just 300/month after the initial period Ill end up making 17000usd in 20 years - and I dont even think that accounts for inflation...... Yesterday I have sent a proposal to RL360 about transferring my current payments to an Oracle account instead of surrendering.

Hope to get an answer of sorts from them during this week. - Niels
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Reason of review:
Not as described/ advertised

Preferred solution: Full refund

5 comments
Guest

I fell into the same trap and only googled reviews too late. I got sold a 23year plan when we explained we needed a shorter term option and flexibility.

RL360 is anything but flexible.

I dumped the policy after 6 months as it was cheaper to lose 100% of contributions in 6 months or wait until the allocation period 23 months then try with draw and lose 82% of initial contributions to FEES.

Probably an ok policy if you are keen on a 23 year plan but for myself a total waste of time an money.

Guest

Contact Angela Brooks (angiebrooks@***n-life.com) if you are interested in a Group Action against RL360!

Guest

Regarding RL360 they have denied to transfer my units to a Quantum plan and I will lose everything by surrendering. No logical reason for why that is not possible but quite obvious why they dont want to do that.

Montpelier tells me that they are trying to work out a "deal" with RL360 so my fees for the remainder of the term will be heavily reduced. I will take the case to the Ombudsman early February if I dont hear further before then.

Guest

Any updates?

Desperately trying to find a solution to remove our funds from RL360 without losing everything.

Guest

Update 2017****:

Still waiting for Montpelier and RL360 to return with a solution proposal before I can continue to the ombudsman.

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Anonymous
map-marker Munich, Bavaria

What a dreadful investment

I was sold this Royal London 360 as an investment for my QROPS, it has lost 20% of its value in 4 years and now the bastards are trying to charge me £3k to get out. Each year the various fees are more than the investment return. Neither the broker company who sold me the QROPS nor Royal London are at all sympathetic - I have to still keep on paying admin and trustee fees and watching the investment shrink until some mythical break even point when it's worth paying a grand or two to get out. The money would have performed better in a high street bank. The ombudsman is toothless, apparently the fine print about "value of your investment can go down as well as up" covers any amount of incompetence, mis-selling and crass stupidity. In fact the broker just laughed when I mentioned the ombudsman service. How is this even legal? I understand some companies can offer *** investments (although pretty much everything else including cocoa palms in West Africa would have done better) but surely there ought to be some sort of rule that allows a customer to cancel without penalty after years of lousy performance.
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Reason of review:
Pricing issue
1 comment
Guest

I fail to see why any of this is RL360s fault?All of this is your brokers fault for taking his hands off the wheel with regards your investments and not explaining the fees in advance.You are also accountable for signing up for this and not understanding it in full. No one should part with money without fully knowing what they are getting themselves into!

Anonymous

Comission lLogic co of this product

Inital period you works for company.All your many for this period would RL360 income. Rl paid comission from this many for his agents and had some profit for company. If you will continue not 3000 usd- you wouldn't have good result because commission for inital period "bit" your many. You will have some many but this many wouldn't this one, which you must have paid 3000usd. Why? Because comission for initial period payments more than comission for accumulated units. Diid you see product profile? If your answer - Yes, of course:) you would see this fact. If your answer- No- this is bad for you. Please read documents befor signaturing this.
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Reason of review:
Problems with payment
Anonymous
map-marker Curacao, Netherlands Antilles

Rubbish

I am not impressed at all

After 6 years I got less than what I put in

Hahaha what a joke

Keep putting money in and someone else eats it

Joke

View full review
Reason of review:
Poor customer service
1 comment
Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #761945, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

Anonymous
map-marker Melbourne, Victoria

RL 360 - Fund managers caught in a bind

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After a 7 year relationship with RL360 our tumultuous and fraught relationship has come to an end...

It began in 2008 with investments into both Brandeaux student accommodation and ground rent funds. The first 2-3 years looked promising and growth was noted in both funds. After this the seas started getting rough, Brandeaux (the fund owners) struggle to meet redemption requests and customers, sensing the tides beginning to turn, began tidal wave sized redemption requests, subsequently Brandeaux 'freezes' their funds to 'protect' investors capital.

Meanwhile RL360, caught in the middle, kindly stop their admin fees and charges. Granted the circumstances, RL360 have their hands tied and spend their time fending off angry customers for whom they have no answer. A lot of people are looking at losing vast sums of money.

So what does RL360 do? How so they console their clients given the grave future ahead? I would say nothing. The 500GBP service fee + establishment fees 250GBP + Flat admin fees 140GBP, per year over 7 years effectively soaked up any investment earnings I made in 7 years. Oddly enough when I made my last redemption request they asked for 3 forms of ID, signed by a notary public to be submitted with the request - what! I've been with you guys for 7 years!

So after 7 years I break even. With promises of 8-10% return from day one there's still no real communications between RL360 and myself on what happen throughout the life span on what to do, advise etc... Disappointing to say the least.

My advice - don't use a fund manager like RL360, buy shares/investments yourself and manage accordingly. To this day I still don't know what 700GBP a year was getting me and always felt I was fighting RL360 throughout the 7 years. It really was an odd business relationship. I'm glad it's over.

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Reason of review:
Poor customer service
2 comments
Guest

Could you please elaborate on how you redeemed your funds and managed to break-even?

I am contemplating continuing to take the Holiday (albeit fees go up) and requesting one-time withdrawals without surrender penalties.

I've been able to get out $4K of a $50K investment so far. At this rate, the fees will eat into my investment before I will be able to get the rest out.

Please help!

Guest

This was my experience also, 7 years and a loss. Taking last fund out now. Not recommended.

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Zilphia Yyp

Royal London 360 Quantum Rip Off

I'm an expat living in Switzerland. An IFA sold me a RL360 quantum policy and completely misstated the costs (I have everything on email and the advisor has admitted to this - the facts are not disputed). I asked for my money back but was told by RL360 after raising a complaint that it's the IFA's mistake so they will not remedy the issue. The IFA does not have the money to refund me so suing them is pointless.

Here's the thing:

1) RL360 is not regulated in Switzerland via FINMA as they should be - they are not allowed to sell their products directly or indirectly, they know this, yet they continue to take business from IFAs in Switzerland

2) After analysis it's clear that the product is designed to strip the clients money - essentially you'll never see the money you invest during the first 2 years. This is by design... 6% + 1.5% in costs.

3) RL360 essentially rely on unregulated IFAs to sell using whatever means necessary. When the client finally realizes they've been conned RL360 simply say it's not their problem - it's the IFA's fault.

4) They make it very difficult to understand the true cost - they reference 0.5% on the initial units in a single paragraph in the T&Cs. this fact is nowhere to be seen on any of their other promotional material. None of the graphs or examples they provide make it clear.

RL360 are laughing all the way to the bank - it's one big ***. Avoid at all costs

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21 comments
Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #549950, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

Guest

totally agree! I'm an expat living in China.

I bought the RL360 Quantum product from an IFA that was not even licensed to sell "insurance" product in China.

By legal term, the product is considered as insurance, not investment, although by nature it is made up of unit trust funds.

Because of its legal definition, there is a tenure year for the "policy" to mature!

You cannot withdraw a single cent before your policy matures! That part the IFA will never tell you.

I am now suing the IFA for selling insurance without license in China.

Guest
reply icon Replying to comment of Guest-1091610

You're not suing anyone and you didn't buy jack. Just another pretend customer.

Guest

I have this plan, I understand it and I understand both how and how much the adviser got (gets) paid. I am getting service and performance and am now about 1/3rd of the way through my 15 year term and I couldn't be happier.

I work in Oil and Gas and am a career expat and need a flexible vehicle to really save and this is perfect for me. I put GBP 5,000 per month into this and am happy, although I will concede it is not for everyone. Anyone looking to do this should know that the initial period is not "locked-up" until the end, but is there to finance the plan. The bonuses do rebate those charges but only if you intend to contribute for the full term.

For me, 15 years of continuous contributions is not a stretch because my salary is very high and I have excellent job security. If I continue to contribute, receive the service from the broker (which I do), then this will turn out to be an excellent plan, which it has so far. I am no slouch in any case so I will get the most from this and the surrender value already exceeds the money invested so I am well ahead. This is a good plan in the right hands.

DO NOT INVEST UNLESS YOU PLAN TO INVEST AT THE LEVEL YOU START OR HIGHER FOR THE FULL TERM. IF YOU DO< THEN GO FOR IT.

Guest

I went with Quantum's predecessor which is called Paragon about 7 years ago and it was the best thing I ever did. We signed for a 10 year time-frame and have literally been throwing the money in, our retirement is in 3 years and thanks to the returns, we will be retiring on time. We will not hear a bad word said about Royal London.

Guest

I actually have the quantum and have for several years now, my broker is exceptional, I fully understand what I am tied into and am satisfied. I have 22 years to go and will keep my contributions going and plan to increase over time (I do USD 2,000 per month).

I know the bonuses are not 'free money' and they are simply there to rebate charges over he life of the plan and I am fine with it.

The structure is tax efficient and since I do intend to retire in about 22 years, this is perfect for me. I don't understand why the negativity, this was the perfect solution for me.

Guest

I don't find the comment interesting at all. Just a case of another case of selective memory plain and simple.

Guest

I find this post interesting on many levels as it does ask questions. Yes I think the OP may have been illegally sold a plan by an IFA acting within the grey.

However, I think in a free society you can purchase anything you choose as long as it is not "illegal" then there is no problem. Now, in order to substantiate your claim you would need to be able to evidence that Royal London accepted your business from Switzerland in which case you probably have a case. However, since you are on here and not with the regulators, I suspect that you were complicit and you yourself entered into this contract with your eyes open. Like all life companies, RL have a compliance team that are there to make sure that all applications are legit meaning that if what you are saying is true, then the application would have been rejected, otherwise you really do have a case.

Unfortunately, you would rather blame everyone else for your actions (if indeed you are even a real customer). As for the "6% + 1.5% in costs" as you yourself have stated that the T&C's mentioned them once as "0.5% per month on initial units" you cannot say that you didn't know. Also, the graphs do indeed show the effects of this, it is under the "surrender value" section. All-in-all a very selective post demonstrating a very selective memory.

Let me ask you a question, when opening a current account with a bank, how many times in the T&C's do they mention each and every charge and cost? I will go out on a limb here and say once! With this in mind, why are you trying to hold this institution to a higher standard? Axe to grind?

Because it fits your narrative?

If you really are a legitimate customer, then shame on the adviser for glossing the whole thing, but most of all, shame on you for signing this without reading it. It's not RL's fault, it is yours.

Guest
reply icon Replying to comment of Guest-992432

Hear, hear! Too many little biatches on here pointing the finger because they have changed their minds

Guest

Get yourself a nice root

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Anonymous
map-marker Houston, Texas

Avoid Royal London 360 at all costs

The financial advisors that recommend this fund should have their licenses revoked. They misrepresent not only what the fund is capable of doing, but also avoid the penalties. Google it and you will read horror story after horror story of this scam and how Royal London perpetuates it. You have to read all the contract and get deep into the contract language before you see the distortions and half truths that are promulgated by the financial advisors who recommend this scam. In short, there is a reason they are an off-shore company. Otherwise they would be prosecuted for their malfeasance.
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2 comments
Guest

RL360 are simply a platform provider, and as such they are categorically not a 'fund' however if you have invested into lousy funds that's another matter, and you should be looking at the funds as opposed to griping about a platform provider.

Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #641684, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

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Anonymous
map-marker Abu Dhabi, Abu Dhabi

Natalie Hall Director of Marketing, RL360 is a bareface liar

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The posts by Ms Natalie Hall of RL 360 here beggar belief. She knows full well her evil insurance company has no insurance authority license to operate within the UAE and that to do so is in completely illegal.

A DeD license is completely difference from being licensed to provide insurance - the former is like having a company at companies house and the second is like being registered with the FSA. They wouldn't operate in the UK without FSA authorisation so why do they do it in the UAE - GREED...... Any disattisfied client MUST complain to the police station and file a complaint against their staff in this country so they can be sure of getting their money back. The Isle of Man office just ignores complaints and hides behind the same lies as Ms Hall.

RL 360 are money laundering and aiding financial crime by allowing BVI companies to use their unlicensed products within the UAE and MUST be stopped. the best way to do this is with the police first and insurance authority second.

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Reason of review:
Damaged or defective
9 comments
Guest

RL 360 Quantum is a cruel investment vehicle designed to eat away the hard-earned savings from the unsuspecting (trusting) investor.

Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #541894, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

Guest

She's not a barefaced liar, she's a good GFE - leave her alone.

Guest

do you think Dr. Evil, Mini Me and Gold Member are all part ofthe evil empire?

Is this one big conspiracy by Dr.

Evil??!?!?!?! Quick call the police to stop this now!!!!

Guest

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Guest

Northern Rock’s 2 year fixed rate mortgage is 5.89% if you have a deposit of at least 25% of the value of the house.

Ray Boulger, senior technical manager at broker John Charcol, said Northern Rock was making its rates more competitive and launching new 10 year and 15 year mortgages in order to improve the quality of its customers.

Only last week, Northern Rock admitted it was being more successful than it had expected in convincing its mortgage customers to leave to allow it to repay the £24 billion taxpayer loan. But its being left with those customers who have high loan-to-value mortgages and find it difficult to move to other mortgage lenders.

Guest

Allah Akhbar!!!! Let's all get along and make money for the good of the arab world!!!

Guest

So the lump sum insurance contract I was sold by my IFA is illegal? The IFA isn't around any longer so can I take rl360 to court I order to get my premium back?

Guest

Leaches. Companies like this should be run out of dodge.

Wot a bunch of cowboys..... Who r the jokers behind this outfit?

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Anonymous
map-marker Dubai, Dubai

RL360 Even Senior managment lie and Mislead - Natalie Hall Isle of Man

In a blog on this site the marketing director Mrs Natalie Hall of RL360 says

" RL360° is authorised to conduct business in the UAE through our Representative Office licence from the Ministry of Economy."

This may be right in general terms but unfortunately it is not licensed to conduct insurance business which is a federal crime to do without the right license. I would say this is therefore very misleading.........

She then says they only work with licensed brokers - this is a complete lie as I have just finished working for a BVI business with no work VISAs and no license who pushed me to use RL360 because they paid more commission than any other company as they dont have to pay for licensing.

She then says more clarity is required but the law is the law and this bunch of crooks are fully bent on breaking it. They aid money laundering and commit financial crime by doing what they do. The local reps and Ms Hall should all be locked up

Print her comment on this blog and give it to the police to show they are complicit in what is happening "In the meantime we are not aware of any changes to our Representative Office status and will remain open for business for all advisers that have the appropriate regulatory status. "

They are fully aware that they are acting against the law they are a boiler room scam!!!!!!!!!!!!!!!!!!!

If I can help anyone with individual enquiries please do not hesitate to contact me.

Kind regards Natalie Hall Director of Marketing, RL360 Email: natalie.hall@***.com www.rl360.com

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12 comments
Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #524221, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

Guest

God means possibilities

Guest

Nathalie doesn't lie at all, if anything she sells herself short. She make out that she was a average lover when to be fair, she was a tremendous root and a thoroughly above average GFE. Thanks RL360, you sure do pick them, selection by erection.

Guest

Get yourself a nice root

Guest

Isn't it hilarious that the top advert on this *** website is for a confidential STD test in Dubai???

Guest

Families stranded on rip-off mortgage rates: Banks say new rules stops them from handing out cheaper loans as remortgage approvals slump

New lending rules mean families unable to remortgage to better deals

Lenders accused of 'misinterpreting' criteria introduced in April

Remortgage loans fell from 324,100 in 2013 to 303,100 last year

By LOUISE ECCLES BUSINESS CORRESPONDENT FOR THE DAILY MAIL

PUBLISHED: 00:50, 20 February 2015 | UPDATED: 09:24, 20 February 2015 80 shares 340 View comments Tens of thousands of people are stranded on expensive mortgages – because banks say new rules mean they cannot give them cheaper loans. It means families who have never missed a payment are unable to remortgage to better deals after failing to meet tough new lending criteria introduced last April.

Yesterday – as a 6 per cent drop in the number of remortgages was revealed – lenders were accused of ‘misinterpreting’ the rules to keep customers stuck on their more expensive default standard variable rate. Mortgage broker Ray Boulger, of John Charcol, said: ‘You’d expect to have seen a big pick-up in the remortgaging market because of the low fixed-rate deals available, but we haven’t. This is partly because of a rise in the number of “mortgage prisoners”. Families who have never missed a payment are unable to remortgage to better deals after failing to meet tough new lending criteria introduced last April +2 Families who have never missed a payment are unable to remortgage to better deals after failing to meet tough new lending criteria introduced last April ‘These people may want to remortgage to a cheaper fixed rate but, because they do not meet their lenders’ new requirements, they are struggling.

‘The banks will deny this is to make more money but the effect is the customer is stuck on their more expensive standard variable rate.’ The number of remortgage loans fell from 324,100 in 2013 to 303,100 last year – the lowest annual total since 1997, according to figures by the Council of Mortgage Lenders. Experts say some of the 21,000 drop was ‘undoubtedly’ down to the new Mortgage Market Review rules. These require lenders to carry out detailed checks on applicants’ spending habits to ensure they can afford the repayments even if interest rates rise sharply in the future. RELATED ARTICLES Previous 1 Next A view of the estate agent signs in Cobham, Surrey, England.

CRHW6Y Home prices at record high outside London despite warnings... London estate agents earn £1.1billion in fees in one year:... SHARE THIS ARTICLE Share But banks and building societies have been accused of turning away homeowners even when their repayments on a new loan would be cheaper. Paula Higgins, of the campaign group HomeOwners’ Alliance, said: ‘Many people are in a mortgage trap.

When they first moved house and took out the mortgage, they were told they could afford it. But now, when they try to get a new deal they are told they can no longer afford that loan, despite keeping up with the repayments. ‘The consequence is that they are paying more than they should be because they are stuck on a default rate.’ Lenders say they fear being punished if they accidentally break the regulations – and have called for more clarity on who they can lend to from the Financial Conduct Authority. But the FCA has already accused lenders of defying ‘common sense’ in some cases and has promised to look into how the Mortgage Market Review rules are being applied.

Lenders were accused of ‘misinterpreting’ the rules to keep customers stuck on their more expensive default standard variable rate +2 Lenders were accused of ‘misinterpreting’ the rules to keep customers stuck on their more expensive default standard variable rate Meanwhile, Campbell Robb from the homeless charity Shelter said: ‘With so many families living on a financial knife-edge, lenders need to make sure people aren’t overstretching themselves in a desperate bid to own a home of their own. ‘But families who have already taken out a mortgage and find themselves struggling should be able to access the most affordable rates to give them the best possible chance of keeping up with payments.’ Overall, 676,900 new home loans were taken out in 2014, up 11 per cent on 2013. The rise is partly due to 15 per cent more loans being given to first-time buyers.

A spokesman for the Council of Mortgage Lenders said yesterday: ‘Lending volumes are affected by a wide range of factors, including mortgage pricing, housing affordability, conditions in the wider economy and consumer confidence. ‘Our view is that lending will grow by around 9 per cent this year.’

Guest

How is it big life companies manage trillions of dollars for hundreds of millions of clients globally and yet you few idiots insist on blogging bad things about them?? Get a life and maybe a hobby, or even better get out and socialise a little, find a girl, settle down and live a little!

Guest

Natalie Hall is hot!!! I would leave my ten wives for her!!!

Guest

"Jet fuel can't melt steel beams" is a frequent comment by 9/11 truthers who maintain that an airplane crash into the World Trade Center wouldn't melt the steel infrastructure of the tower. Of course, this assertion has been debunked.

It's become a meme to represent these conspiracy types with that quote.

Guest

UAE and Allah love the monkeys!

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Anonymous

Royal London 360 unauthorised sales through unregulated brokers in Dubai

I recently transferred my pension via an adviser in Dubai to a QROP with Royal London 360. The funds have been suspended and I have now found out the IFA took 15% commission. On complaining I am told that neither the IFA or Royal London are authorised to sell me this type of investment and insurance in Dubai. The IFA has told me that he cannot help as he is actually a BVI company and that it is Royal Londons fault. I now find that Royal London arent registered here either..........................What can I do to get some of my money back and who should I complain to?
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20 comments
Guest

I have a similar situation and interested to know if anyone has tested this and had an outcome?

Meelah Upr

Please take notice that RL360 INSURANCE COMPANY, LTD (the Plaintiff), has initiated an action in the Superior Court of the State of Arizona in and for the County of Maricopa, Case No. CV2016-00**** (the Action).

In the Action, the Plaintiff seeks to subpoena Consumer Opinion, LLC for your contact information, IP address, any other information which would identify you, and any other messages that you have posted on the website known as PissedConsumer.com, under Review #474888, or any other review posted by you about the Plaintiff.

If you do not respond within 10 business days with your true and correct contact information to our law firm via email (kwpostcompliance@***.com) or by telephone (480-588-****), we will subpoena the records as outlined above.

You may have a right to file and serve a response to the subpoena anonymously. If you intend to file and serve a response, please do so, or notify us of your intent to do so, on or before March 11, 2016.

Guest

HSBC plans to introduce £5 a day overdraft charge

The bank claims this will mean informal borrowing charges are 'reduced for the majority of customers'

HSBC overdaft charges

HSBC and its subsidiary First Direct will send text messages to customers who go over their pre-arranged limit. Photograph: Christopher Thomond for the Guardian Christopher Thomond/Guardian

Miles Brignall

Saturday 16 August 2014 07.06 BST Last modified on Thursday 21 August 2014 10.44 BST Share on Facebook Share on Twitter Share via Email Share on LinkedIn Share on Google+ Shares 44 Comments 6 HSBC and its subsidiary First Direct are introducing a new £5 a day charge for all customers who stray over their pre-arranged overdraft limits.

The move, which comes into force in November, replaces the current £25 set-up fee charged each time a customer goes into their informal overdraft – which is typically £250 or £500 depending on the bank. HSBC claims the new charging structure will mean informal borrowing charges are "reduced for the majority of customers", although for some users the daily charge could result in higher fees. The banks are also lowering the maximum amount account holders can be charged as result of going over their limit. After November they will be capped at £80 in one monthly charging period – down from the current maximum of £150.

HSBC and First Direct will also send text messages to alert customers who go over their pre-arranged limit, though they will not be charged if their balance is back within it before 11.45pm on the same day. The banks say there is no fee for an informal overdraft request of £10 or less. Andy Mielczarek, head of retail products at HSBC, says: "These changes have been designed to provide a simpler way for customers to understand the cost of any borrowing not agreed in advance, while we have maintained the great value offered on our agreed overdrafts, which have no fees and purely charge interest on what is borrowed." He says research by HSBC found that customers preferred to keep the option to go into informal borrowing as they would rather have access to funds than face unpaid bills. Andrew Hagger of Moneycomms.co.uk points out that, unlike some of its rivals, HSBC hasn't shifted the cost burden for unauthorised borrowing by increasing the costs for agreed overdrafts.

"To avoid being hit with unauthorised overdraft charges, customers should be encouraged to arrange an authorised overdraft limit with their bank, even if they don't think they're going to use it," he says. Customers will not be charged further overdraft usage fees if their account remains in informal overdraft for more than 30 consecutive days.

Guest

The selling point with these platforms is that you can access pretty much any freely traded asset and that can be very attractive especially if you want to invest in niche sectors. It is a double edge sword because some of these investment are a lot smaller and arguable more risky.

It is not the job of Royal London 360 to play fund police any more than Interactive Brokers police any of your stock picks even though companies can and do collapse. Sure, your adviser is probably *** of the earth and a retard to boot, but you authorised him/her to do this and if you point the finger, 3 point back

Guest

Allah loves bacon and we should start importing pigs to UAE to help people improve their diets!

Guest

where is my sausge and bacon in dubai?????

Guest
reply icon Replying to comment of Guest-979136

Spinneys?

Guest

You are not authorised to conduct ANY insurance business on your moe rep office license ms Natalie hall and you 100 percent know this. No extra clarity is required as u do not have a license and your activities and midis operandi with bvi companies is criminal.

No policy is valid under UAE law from a non admitted insuer and victims need to report this at he Dubai police station (sgt Ahmed in CID) to get parsons arrested and money back......

Janelly Xtg

I would like to correct the misleading information in this thread. RL360° is authorised to conduct business in the UAE through our Representative Office licence from the Ministry of Economy.

Recent discussions between the Insurance Authority and certain Insurance Authority authorised firms have shown that clarity is required regarding advisers dealing with insurance companies who are authorised by UAE institutions other than the Insurance Authority.

Along with other companies, RL360° has had an application pending with the Insurance Authority for many years.

We understand that the Insurance Authority may now be considering ending the moratorium on new licenses and, if so, we welcome this development.

In the meantime we are not aware of any changes to our Representative Office status and will remain open for business for all advisers that have the appropriate regulatory status.

If I can help anyone with individual enquiries please do not hesitate to contact me.

Kind regards Natalie Hall Director of Marketing, RL360 Email: natalie.hall@***.com www.rl360.com

Guest
reply icon Replying to comment of Janelly Xtg

It is clear from above senior management are complicit in this fraud. To sell insurance without a insurance authority licence to do so is a federal criminal offence.

They are also not using licensed brokers but any old joe with a bvi - another criminal offence!

Anyone with a problem simply needs to file a police complaint against the local manager and then send a copy of this to the insurance authority and esca. The comment above by the marketing director is outrageous - this is white collar financial crime and must be stopped as must the unlicensed boiler rooms they use to tout their awful products.

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Janelly Xtg
map-marker Douglas, Isle Of Man

Please remove contact details for James Parsons & entire thread

Dear Sir or Madam,

Please can you remove the thread for Royal London 360, which is completely incorrect and misleading.

RL360° is authorised to conduct business in the UAE through our Representative Office licence from the Ministry of Economy. Recent discussions between the Insurance Authority and certain Insurance Authority authorised firms have shown that clarity is required regarding advisers dealing with insurance companies who are authorised by UAE institutions other than the Insurance Authority.

Along with other companies, RL360° has had an application pending with the Insurance Authority for many years. We understand that the Insurance Authority may now be considering ending the moratorium on new licenses and, if so, we welcome this development.

In the meantime we are not aware of any changes to our Representative Office status and will remain open for business for all advisers that have the appropriate regulatory status.

Many thanks,Natalie HallDirector of Marketing, RL360www.rl360.com

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Guest

Anger as rip-off mortgage fees soar to record £1,500

MILLIONS of homebuyers are being hit by soaring mortgage arrangement fees despite the cost of borrowing falling, new figures reveal.

By NATHAN RAO

PUBLISHED: 01:01, Wed, Apr 10, 2013 | UPDATED: 10:12, Wed, Jan 28, 2015

3

Millions of homeowners are being hit by rising mortgage arrangement fees Millions of homeowners are being hit by rising mortgage arrangement fees The average fee charged by banks and other lenders has risen by £112 over the past three months to a record high of £1,522. Many first-time buyers have faced even steeper one-off fees.

A buyer with a 10 per cent deposit looking for a two-year fixed mortgage has typically seen charges rocket by £500 to £1,423. Critics say the rip-off fees undermine the Government’s efforts to boost the housing market with schemes such as Funding for Lending. Sylvia Waycot, for Moneyfacts.co.uk said the fees were the highest it had recorded in 25 years. She added: “It’s easy to get caught up in the excitement of heavily marketed mortgages that shout about low interest rates.

“But these will often be at the expense of high fees. “If the Government is serious about re-kindling the mortgage market it should ensure all its subscribed lenders offer mortgages that exclude hiked up charges that are hidden behind low rates.” Marc Gander, founder of Consumer Action Group, said: “The banks have found another way of abusing the help and incentives the Government has provided to get the housing market up and ­ running. Homebuyers, property, mortgage, borrowingHomebuyers are being charged a record high of £1,522 for mortgage arrangement fees Every step of the way the banks spot a way to make more money Marc Gander, founder of Consumer Action Group “Every step of the way the banks spot a way to make more money.

“If they charge less interest then their victims will have more money to pay out in fees – and they will, because people are desperate to get on the ladder. It is very sad.” Bernard Clarke, spokesman for the Council of Mortgage Lenders, said: “Low mortgage rates deliver a much greater benefit to consumers than the effects of any average increase in one-off up-front fees.”

Guest

Last month my bank account with HSBC went £1.21 overdrawn which I didn't notice. The bank didn't notify me and they took £150 charges out of my account without my knowledge leaving me even more over drawn.

When i found out, I used my savings and paid the overdrawn money back, but now I Have been notified that because I went overdrawn again (because of the charges they took out), they are taking another £150 out this month??

How can they justify now £300 of charges for me not realising I had gone £1.21 overdraw. I'm furious [smilie=013.gif]

Guest

this website sucks big massive rhino balls!!! bunch of idiots!!!

Sabin Xox

I like your name. Does it mean rob everybody in a 360 degree radius?

Guest

They don't use licensed brokers - this post by their own marketing team is FALSE!!!!!!!!! Do not trust rl360 as they are comitting a crime by doing the above - liars.............

Guest

LIES LIES LIES. This is utter rubbish.

RL360 use unlicensed brokers as the boys I worked for was a BVI. No licenses no qualifications end of story. A commercial trade license doesnt mean selling insurance is legal...it is CRIMINAL without insurance authority approval.

If you are unhappy with advice or product - go to the police station and file a complaint against Mr Parsons and Mrs Hall. Then take this report to ESCA and the Insurance Authority who will make sure these criminals get locked up, u get you money back and the broker is shut down

Firms like this need stopping so I would take a copy of the post above to show they have no intention of stopping even though they know they don't have a license and use boiler rooms to see their terrible product

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