Royal London 360
Reviews and Complaints
Royal London 360 Investment Service Review from Liverpool, New South Wales
RL360 Quantum
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.
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
Preferred solution: Full refund
What a dreadful investment
Comission lLogic co of this product
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
RL 360 - Fund managers caught in a bind
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.
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
Avoid Royal London 360 at all costs
Natalie Hall Director of Marketing, RL360 is a bareface liar
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.
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
Royal London 360 unauthorised sales through unregulated brokers in Dubai
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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Dont agree