I am an Information Systems student [BSc(Hons)] currently undertaking my final year. Love sport + ea...
I am an Information Systems student [BSc(Hons)] currently undertaking my final year. Love sport + eating healthy
Member since:07.10.2006
Reviews:8
Hi,
I have to write a review on Brewin Dolphin as a result of my experience with them. My overall impression of using them for over 10 years (not out of choice, will explain as i go on) is VERY BAD.
I did come into some money from a relative, but was not able to recieve the fuds until i was 21. This was approx. 10 years that Brewin Dolphin would be responsible for the growth of the money. You must understand that this period did include September 11th and so did impact on the investments made, however this is the extent to which they made serious errors on my behalf in order to half the amount i was left with, after 10 years of investment. I think a 5 year old child could do a better job by placing the funds in a bank.
So, 12 years ago, £80,000 was left. 10 years on, with Brewin Dolphin taking a 'management' fee each year i am left with £38,000. So if you want to lose half your money after a length of 10 years investment, then use Brewin Dolphin, the only thing they lose if your money, they will still take their 'management' fee for losing your money for you.
It is breath taking that these bankers can steal in daylight, whereas if i went into their branch in Manchester and took each of their Rolex watches, they car keys for their high performance cars and their male grooming products, i would get arrested and locked up. They get away with it through a sieve of loopholes in the system, the banking system stinks, nowhere else do i know of that a person can make a loss and charge for that. Its irresponsible immature gambling with someone elses money!!
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Whilst I have no doubt that indifferent management saw the value of your fund decrease, and the management charges were extortionate, you were also very unfortunate that your money was invested in the 10 most turbulent years our economic system has seen in living memory. Hindsight is 20/20 as they say. I would loved to have taken the 15k I invested in stocks in early 1999 and stuck them somewhere safe, as the return on my investment was -25%. I suspect your experience was the unlucky confluence of bad timing and apathetic management. I hope you fare better in future. Useful review.
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