Reply by Fund Advisers Jan 23, 2015

Fund Advisers is one of the most highly regulated and licensed companies in the UAE.
The recent changes in regulations means that all firms regulated by the insurance authority were required to increase the deposits lodged with authority from 1,000,000 AED to 3,000,000 AED. This money is held on deposit to settle any claims against any firm that is regulated by the insurance authority. Although we don't hold the money of any client, it reassures clients that our organization is well regulated and that they have recourse should they ever feel that they are not receiving the best in advice practices.
We have seen a number of smaller firms unable to withstand the increases imposed by the authority and as such, many have opted to lose their relationship with the authority.
Furthermore, all services that have associated charges are discussed with our clients at all stages of the process and are further presented in writing. All financial advice and subsequent policy information is fully reviewed between the client and our compliance department to ensure 100% client satisfaction.
We have made every effort to contact the individual who posted this claim in order for us to be able to clarify any charges associated with their enquiry. We have been unable to substantiate this claim as the individual has posted it anonymously.
Fund Advisers prides itself on delivering the highest levels of client satisfaction and customer service in the industry. Should any client have any questions regarding the financial advice they have received or questions regarding a particular policy, please contact our client services department.
Author's
Dubai, Dubai
2 comments
Not resolved

Update by user Dec 09, 2014

This company claim to pissedconsumer.com that they have contacted me and resolved the issue.

This is yet another lie from these cowboys.

1, They rip their customers off

2, They get people to go out and work for them in Dubai.

These people slog their guts out for three months only to be ripped off and then sacked by the company when it comes to paying commission which is due.

Once I hear that commissions have been paid to people that are owed it.

Then I may consider resolving the issue.

Pay what you owe to people Spencer Lodge and be a man.Also stop selling the dream to young wannabes and manipulating their young minds.

Original review posted by user Oct 16, 2014

Where do I start with this company?

It's run by an expert *** artist who goes by the name of Spencer Lodge. This man is famous for ripping people off and evidence is all over the internet if you google this vile mans name.

Spencer Lodge is banned yes banned from both Holland & Belgium and is wanted for financial crimes in both countries. If he returns the authorities will automatically lock him up. The "Banned" status is only used for the likes of terrorist so you can imagine how ridiculous his crimes where.

He employs un-qualified advisers who go out giving advice to clients and they clearly are not authorised on a professional basis to do this.

The staff are working illegally and only 10% of the work force actually have official working visas. I know that one of his consultants has been doing visa runs for the past 12 months. This guy has earned £90,000 during this time who's is totally illegal in the UAE.

Basically what that means for you as a client is that if anything goes wrong with your investment you will not be covered because your investment has been placed by an illegal immigrant in that country.

Spencer also claims to not charge his clients for the advice him and his *** artist give but below is an example. If you invest the following this is what Spencer Lodge gets.

£1000 per month investment over 25 years = £300,000

Spencer gets £15,000 for his free advice.

He claims to be able to get you between 5 & 9% return on you're money but he actually laughs at that himself.

You are more than likely going to lose money with this company or at best break even after 25 years.

Fund advisers claim to be truly holistic and give independent financial advice. I can tell you now all they can offer is three products for regular savings and that is Friends provident international, Generali and Royal London. They never use Royal London so really they can only offer you two products.

Spencer claims to be able to research the market for the best products for you when clearly him and his *** artist already have in mind to put you in to a Generali or Friends provident before they have even met you.

He has now employed a Director of sales basically to sack the under performers or the ethical consultants. In other words if your not acting like a weather glaze sales man and selling anything and everything to your clients you simply get sacked by this ape of a man Doug.

I know of people Spencer has sacked and never paid them what he owes. He owes people thousands of pounds and simply doesn't pay his staff. If you're on here revising for a job then I advise you DO NOT work for this man because he will ruin your career and then just toss you to one side after he's had all your hard work and you've spent all your own money.

This mockery of a company also charge their staff for office space yes office space.

The lovely Mr Lodge charges his staff £100 per month just to sit in the office and use a phone. This man is not just ripping clients off he's also ripping his own staff off.

Another issue is QROPS they offer. QROPS is an exceptional product when used correctly.

A QROPS is basically a product which allows your frozen UK pension to be unfrozen and re-invested. Used correctly it is perfect for you the client to get your hard earned pension working again.

What Spencer and his *** artist do is get your current pension providers to release the money from your pension. They then take control of that pot of money and gamble with your life savings.

One example was that one of the *** artist took a clients pension pot and placed 50% of the pot in to a safe direct managed fund and the other 50% he invested into a volatile structured note which is very dangerous. The gamble paid off and the *** artist then placed the winnings and the original 50% in to another volatile structure note to earn more money. They don't do this for the best interest of the client they do this because every time the *** artist re-invest in to a structured note he gets paid more commission so all he's doing is gambling with your life savings to gain more commission.

Spencer Lodge the greatest *** man to have ever walked this planet doesn't pay his staff either. They work on commission base only and are told to put the client in to the highest paying commission charging structure to gain them and the company the highest possible commission.

Stay away from Fund Advisers or any company Spencer Lodge is attached to. This man will take your money and give you nothing but heart break in return.

Review about: Financial Service.

Review #547006 is a subjective opinion of a user.

PRODUCT OR SERVICE Not specified
Reason of Review / Monetary Loss Not specified / Not specified
Preferred solution Not specified

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Comments

Rentboy
Sydney, New South Wales, Australia #932988

Spencer Lodge was escorted out of Holland with armed raid on his office. Wow now thats what I call an operator.

Anonymous
#885375

Well said you have actually nailed it.This company should be shut down and staff should be behind bars.

They are targeting novice young people from UK and Ireland also now targeting young moms selling the dream of making £100K annually.

Pls pls this blog is true reflection.

If you haven't worked in financial sector before you won't be able to earn that sort of money.Plus industry standard is if 10 people start with this company 9 will leave with in 4 weeks.

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