Cashback Company

Karen_L_2

Kingswood Law Cashback scheme

Hi Guys,

a couple of years back I heard of a company, Kingswood Law, who would refund any management fees for the agency of any investments transferred to them. As I had a number of equity ISAs through companies like Fidelity on which I was paying annual fees this seemed like a no brainer as effectively once you have made the initial investment, there really is no management involved & they charge theirs fees for basically doing squat.

I contacted Kingswood & was sent the agency transfer forms which I duly filled in & returned. Since then I have heard nothing from Kingswood. I wrote to them last month requesting a statement of all fees they have received on my behalf to date.

Today I received a cheque for £50 together with a letter advising they closed the scheme soon after it started (nice of them to tell me!) as it had been 'adminstratively very intensive'. Presumably they have kept all the fees since then. I will of course now transfer the agency of my investments to another company (as soon as I can find one that refunds all or part of the fees).

I suggest anyone else who has transfered agencies writes & asked for their money back too.

Can anyone suggest a company that offers a similar cashback service?