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