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.