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  • FIRST POST
    • bocaboca
    • By bocaboca 31st Aug 16, 7:28 PM
    • 38Posts
    • 1Thanks
    bocaboca
    Folium Consulting -- "free" seminar on estate planning etc
    • #1
    • 31st Aug 16, 7:28 PM
    Folium Consulting -- "free" seminar on estate planning etc 31st Aug 16 at 7:28 PM
    Has anyone any experience of this company who offer free 90min seminars covering a range of topics associated with wills, care-home fees, probate etc?

    Every participant is eligible for free in-home consultation for which there is "never any obligation from us".... which is sounding a little warning bell in my head.

    Any thoughts?
Page 1
    • bigfreddiel
    • By bigfreddiel 31st Aug 16, 7:48 PM
    • 4,225 Posts
    • 1,954 Thanks
    bigfreddiel
    • #2
    • 31st Aug 16, 7:48 PM
    • #2
    • 31st Aug 16, 7:48 PM
    Has anyone any experience of this company who offer free 90min seminars covering a range of topics associated with wills, care-home fees, probate etc?

    Every participant is eligible for free in-home consultation for which there is "never any obligation from us".... which is sounding a little warning bell in my head.

    Any thoughts?
    Originally posted by bocaboca
    What did you find when you googled it and checked the FCA website?
    • dunstonh
    • By dunstonh 31st Aug 16, 10:35 PM
    • 89,531 Posts
    • 55,968 Thanks
    dunstonh
    • #3
    • 31st Aug 16, 10:35 PM
    • #3
    • 31st Aug 16, 10:35 PM
    Free seminars are offered with the aim of getting a couple of people hooked at that point. Usually they come with a "act now and get something free or reduced" to help entice you further. That quite rightly should set alarm bells going.

    A lot of these seminars are held by unregulated individuals who have limited qualifications. I have come across a number over the years and they usually try to find ways to part you with your money when there is no need to. I have also had a run in with a couple who were giving out totally wrong info. So, its fair to say I am not impressed with the unregulated lot doing this. So, always make sure they are regulated. Either financial or legal.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jamesd
    • #4
    • 1st Sep 16, 2:43 AM
    • #4
    • 1st Sep 16, 2:43 AM
    In essence it's just like timeshare sales. Completely legitimate. Except that you may be pressured into making a poor choice. No idea how this particular firm do things, just describing the potential risk that is there. It could be something as simple as uncommonly high charges for a service that you genuinely need, delivered perfectly, just at that too high price.

    It's easy enough to ask questions here and get good answers or a recommendation to contact a regulated professional because the amounts or situation are sufficiently uncommon that those here don't have the knowledge to answer.
    • dunstonh
    • By dunstonh 1st Sep 16, 10:22 AM
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    dunstonh
    • #5
    • 1st Sep 16, 10:22 AM
    • #5
    • 1st Sep 16, 10:22 AM
    In essence it's just like timeshare sales. Completely legitimate. Except that you may be pressured into making a poor choice. No idea how this particular firm do things, just describing the potential risk that is there. It could be something as simple as uncommonly high charges for a service that you genuinely need, delivered perfectly, just at that too high price.
    That is exactly it. I have seen people who got their Wills written by them and in the Will, it named the same people as executors who then took 2 or 3% of the estate value on death. This involved very simple estates with very little admin but perhaps high value resulting in extremely high fees.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • dfh4
    • By dfh4 14th Nov 16, 2:51 PM
    • 8 Posts
    • 3 Thanks
    dfh4
    • #6
    • 14th Nov 16, 2:51 PM
    Foliumconsulting Seminar Details
    • #6
    • 14th Nov 16, 2:51 PM
    Received leaflet in post this morning stating that seminars are due to be held at Mercure Hotel, Foot of Box Hill, Old London Road, Dorking, Surrey, RH5 6BX on Wednesday 7th December, 2016 at 10am, 2pm and 7pm.
    When I contacted them on the published phone number 0800 240 4714 they were able to give me very little information on what qualifications their advisers hold and what financial protection is in place for any subsequent advice or recommendations given.
    The only person I could find with known qualifications is Mr Phillip Atherton who is a registered chartered tax adviser.
    Would appreciate any feedback, particularly if you attended one of these seminars, as I have concerns that the leaflet is designed to attract older people who may not be financially articulate, and it even pictures an elderly happy couple as a large header.
    The company is shown as an LLP (Limited Liability Partnership) in LinkedIn.
    Many thanks.
    Last edited by dfh4; 14-11-2016 at 5:10 PM. Reason: Grammatical error
    • dunstonh
    • By dunstonh 14th Nov 16, 3:09 PM
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    dunstonh
    • #7
    • 14th Nov 16, 3:09 PM
    • #7
    • 14th Nov 16, 3:09 PM
    There is no company called Folium on the FCA register. This means they are not financial advisers or regulated investment advisers and cannot lawfully recommend or promote regulated investments in the UK.

    There will also be no FSCS protection or any other regulatory protection as they are not regulated.

    That said, what they do, according to their website, is not financial advice or anything to do with regulated investments. So, as long as they don't enter into investment advice/financial advice then they are doing nothing wrong.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • dfh4
    • By dfh4 14th Nov 16, 3:37 PM
    • 8 Posts
    • 3 Thanks
    dfh4
    • #8
    • 14th Nov 16, 3:37 PM
    Query Follow-Up
    • #8
    • 14th Nov 16, 3:37 PM
    What did you find when you googled it and checked the FCA website?
    Originally posted by bigfreddiel
    Having been on the phone to the FCA for 40 minutes, where they looked in to their website, they have told me that the company does not hold any registration with them.
    • dfh4
    • By dfh4 14th Nov 16, 6:18 PM
    • 8 Posts
    • 3 Thanks
    dfh4
    • #9
    • 14th Nov 16, 6:18 PM
    • #9
    • 14th Nov 16, 6:18 PM
    Quote from website: 'Folium aim to help clients protect themselves from the minefield surrounding the passing on of their family estates whilst also ensuring that they have piece of mind should anything untoward happen earlier in life'.
    Considering this company Folium Consulting is providing seminars and follow-up home visits by people, which I have discovered may not be either professionally qualified or regulated, must surely raise questions.
    If this company is only acting as a form of introducer service, why is this not clearly stated in any material I have found?
    More importantly, what protection and redress is there for anyone who uses their services? Obviously NOT the FCA.
    • dunstonh
    • By dunstonh 14th Nov 16, 7:17 PM
    • 89,531 Posts
    • 55,968 Thanks
    dunstonh
    If this company is only acting as a form of introducer service, why is this not clearly stated in any material I have found?
    #

    I have only looked at their website and there is nothing on it that requires them to be FCA regulated. If they do have hand-offs then they are not required to be regulated as introducers if it is not their main business.

    More importantly, what protection and redress is there for anyone who uses their services? Obviously NOT the FCA.
    Trading standards support and courts. Some areas could fall under the Law Society but mostly what they do is offered by people who read a book at the weekend and go on a few days course on how to sell it. My experience of this type of service is that they look to name themselves as executors and take x% of the estate as a fee.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • CharlesUshaw
    • By CharlesUshaw 25th Nov 16, 10:42 AM
    • 1 Posts
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    CharlesUshaw
    Folium Consulting do not appoint themselves as executors or trustees on wills or trusts.
    The writer is correct that some other firms do.
    • uncleal
    • By uncleal 15th Apr 17, 11:30 AM
    • 1 Posts
    • 1 Thanks
    uncleal
    Folium consulting.
    I received an invitation in the post following which I attended a seminar at the Bell Motel, Epping.13th April 2017. The first session lasted 60 minutes and following the coffee break there was a Q & A session. From the outset they made it clear that they are not authorised to sell or recommend financial products and that they derive their income from providing advice and assistance with wills estate planning and Powers of Attorney. The lecture was light hearted but very informative. Some of the seminar comprised of videos provided by "Which" magazine and the BBC. They provide examples where entire estates have finished up in the wrong hands due to wills being wrongly worded or where wills become invalid due to a change of circumstances. There was some very useful information about how to avoid or reduce IHT and I came away far more knowledgeable about such things. At no time did I feel under any pressure. In fact as I left I asked for two brochures without giving them any of my details. The partners comprise of an ex Grant Thornton accountant, a solicitor and an ex HMRC tax inspector. As our collective estate is unlikely to breach the new £1m tax threshold I will probably only use them to rewrite our wills and obtain Powers of attorney for me and my wife. The cost of this will £125 for the wills and £295 for the P O A. I will of course check the market first. All in all, I cannot see a problem with these people.
    • enator
    • By enator 18th Apr 17, 9:03 AM
    • 90 Posts
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    enator
    .....All in all, I cannot see a problem with these people.
    Originally posted by uncleal
    Because I work for them
    • Malthusian
    • By Malthusian 18th Apr 17, 10:59 AM
    • 3,280 Posts
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    Malthusian
    Some of the seminar comprised of videos provided by "Which" magazine and the BBC.
    Originally posted by uncleal
    You're entrusting your Wills to people who can't film their own videos?

    They provide examples where entire estates have finished up in the wrong hands due to wills being wrongly worded or where wills become invalid due to a change of circumstances.
    Exactly why Wills should be drawn up by currently registered professional solicitors, not ex-accountants, tax inspectors and computer salesmen turned will writers.

    Why did you feel the need to leave a glowing opinion of them before they'd actually done the important bit, i.e. the will writing / POA drafting? It's like me going on TripAdvisor to say that the restaurant had lovely clean windows and looked very busy from the outside, and I'm sure that if I go in and eat the food will be lovely.
    • POPPYOSCAR
    • By POPPYOSCAR 12th May 17, 8:53 AM
    • 10,810 Posts
    • 22,503 Thanks
    POPPYOSCAR
    We attended one of their seminars last year.

    Yes it was informative and there was no hard sell.

    We were invited to fill out a questionnaire on the back of the brochure and give in if we were interested, which we did.

    They called us a few weeks later but we did not at the time want to take it any further and they have not bothered us since.

    As to their actual service I have no idea, so if any one has used them I would be interested to know.
    • hifibri
    • By hifibri 18th Jul 17, 1:38 PM
    • 1 Posts
    • 0 Thanks
    hifibri
    Folium Consulting
    I attended their seminar and was subsequently visited by one of their consultants. I have to say their approach truly is soft sell and I found them to be nothing but highly professional. Wholeheartedly recommend them.
    • Malthusian
    • By Malthusian 18th Jul 17, 5:10 PM
    • 3,280 Posts
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    Malthusian
    Thank you yet another random person who joined this forum just to tell us how wonderful they are and is in no way connected with Folium Consulting.
    • Elijah Bailey
    • By Elijah Bailey 19th Jul 17, 12:04 PM
    • 85 Posts
    • 94 Thanks
    Elijah Bailey
    Three sentences is a pretty poor commercial unless we are getting the "soft sell". Shame there was no mention of the "Which" magazine and "BBC" videos.
    • POPPYOSCAR
    • By POPPYOSCAR 14th Sep 17, 3:50 PM
    • 10,810 Posts
    • 22,503 Thanks
    POPPYOSCAR
    I attended their seminar and was subsequently visited by one of their consultants. I have to say their approach truly is soft sell and I found them to be nothing but highly professional. Wholeheartedly recommend them.
    Originally posted by hifibri
    Not much info here.

    What did they do for you and how much did it cost?
    • kidmugsy
    • By kidmugsy 14th Sep 17, 4:05 PM
    • 9,835 Posts
    • 6,625 Thanks
    kidmugsy
    We went to a seminar like this years ago (different firm though). It was a topic we knew nothing about; we gained from the lessons. Somewhere their name is on file in case we should wish to update our info and pursue their suggestions. I didn't feel under pressure at all.

    What was fascinating is that the seminar started on the assumption that people would be interested in using trusts as part of IHT avoidance. But it turned out that people were actually interested in using trusts to keep money out of the hands of their children's potentially divorcing spouses.
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