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City Equities Ltd and/or Beaufort Securities Ltd

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245

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  • babyhk
    babyhk Posts: 6 Forumite
    Thanks for all the info regarding this company . I too got an e- mail out of the blue followed a few days later by a call to my mobile . I was puzzled as to why I had been contacted this way .
    As I was at work , a rep is going to phone me next week .
    Obviously I would be foolish to deal with this company but await contact so I can have a decent 'chat' .
  • dodprox
    dodprox Posts: 1 Newbie
    I an new to forums so please be patient. I have a portfolio and was considering Ryan Air, especially since they have moved up their advertising activity ( I hope their reputation moves up a cog too!). However! I note in Hargreaves Landown's site that Beaufort Securities is the only company giving recommendations on the stock. Having read the forums views on BS I am wary of buying now.
    I would like to know how a company like BS managed to get such a apparently high profile when it has a very different background from the established bona fide companies that recommend stock
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    I love the idea people take recommendations from any tipster.

    It can be interesting to read views opinion and analysis but to take one simple review is foolish in any circumstance.

    Analysts at major stockbrokers produce documentation that recommends buy or sell as the one thing the financial services sector needs is turnover, buying and selling. Whether this is individuals tradin smallish value of stock or multi billion mergers that have generally been found to destroy shareholder value you can't make much money if you aren't taking commission on buying or selling, advising on mergers etc
  • NX123
    NX123 Posts: 1 Newbie
    edited 1 April 2019 at 9:16AM
    Can anyone confirm if Beaufort securities investments has been closed down by the FCA? I have been made aware that there DFM ({Edited by Forum Team}) has been suspended due misconduct. It is alleged he was investing pension funds via ADAM BENNETT (KPJ financial Solutions Ltd) for commissions in excess of 30%. {Edited by Forum Team} was alleged to be taking funds through his personal account.
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    That sounds like quite a fall from grace since he was awarded "most promising newcomer" at some wealth management beano in 2015 (Beaufort has deleted the story from their blog but it remains in Google's cache).

    The answer to your question would appear to be no, Beaufort Securities remains authorised by the FCA.
  • D_Woods
    D_Woods Posts: 5 Forumite
    They have had their DFM permissions withdrawn though.

    Judging by the awful investments I've seen in a couple of client portfolios, I can see why.
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    As a matter of principle......and simple common sense......never reply to any unsolicited contact. You won't be missing out on anything. The best place for such things is the trash, whatever their source.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Daveis8
    Daveis8 Posts: 1 Newbie
    I have just lost 70,000 of my pension to bad investment by Beaufort, at this moment and time there is know way I can get it back. I feel like I have been scammed everybody should stay clear of this company just a bunch of scammers
  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Daveis8 wrote: »
    I have just lost 70,000 of my pension to bad investment by Beaufort, at this moment and time there is know way I can get it back.

    Have you made a formal complaint to Beaufort Securities and then the Financial Ombudsman Service?

    http://citywire.co.uk/new-model-adviser/news/fos-tells-dfm-to-pay-out-over-aim-investments-that-lost-71k/a1030252
  • D_Woods
    D_Woods Posts: 5 Forumite
    What you need to do is make a formal complaint to Beaufort and if they do not resolve your complaint within 8 weeks you can apply to the financial ombudsman to review your case. You will need all of the paperwork that cemented your financial relationship with Beaufort and any correspondence etc.


    One case has already been upheld. I can't post a link but if you Google FOS UK Decisions and search from 1st March 2017 and enter Beaufort Securities in the Business Name field, you will find a decision against Beaufort.


    If you have been invested in Carduus bonds and Eastbridge you have a very similar sounding portfolio.


    It may take a number of months to get resolved but it is certainly worth the effort.
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