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London Capital and Finance

edited 1 September 2016 at 2:14PM in Savings & investments
2.1K replies 433.3K views
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  • cloud_dogcloud_dog Forumite
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    I'm really unsure if Bailin is agreeing to the risks and possibly underhand way LC&F advertise or if he has taken it upon himself to tear Surge Financial a new one?
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • cloud_dog wrote: »
    I'm really unsure if Bailin is agreeing to the risks and possibly underhand way LC&F advertise or if he has taken it upon himself to tear Surge Financial a new one?
    could be a double bluff :)have to see if people try and talk him back the other way now!
    To me mini bonds seem less transparent then P2P and that is risky enough but still pays comparable rates
  • ReaperReaper Forumite
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    I was going to comment, but on balance I think it's too risky. I'll leave it to Dunstonh ;)
  • bail-in wrote: »
    Thousands of reasonable, experienced and risk aware investors, not confused savers, are investing in LC&F

    Care to share your source on that?
  • dunstonhdunstonh Forumite
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    I was going to comment, but on balance I think it's too risky. I'll leave it to Dunstonh
    Thanks for that!!! Is it that you think I have a greater chance of reinstatement? ;)

    So sad that we have to tip-toe around it.
    Care to share your source on that?

    They say on their website that they have over 7000 investors. So, if only a few thousand know what they are getting into then it doesnt paint a good picture.

    Speaking of their website, I like what they say here:
    We have a 100% track record of paying interest on time and the initial investment upon maturity.*

    *Period 07/2012-11/2017, all interest and bonds have been paid on time and when due. Please note that past performance is not an indicator of future results. Information reflects all bonds offered by the company.

    It is worth restating that all the bonds that have failed in the past and took the investors money with them also had a 100% track record up to the point they failed.

    Their website also says:
    No set up costs, no management fees, and no charges

    This shows the difference between unregulated investments and regulated investments. Unregulated are saying things that you know are not true. Are LC&F really not receiving any fees for issuing this? Of course, they are. However, it is taken indirectly. In the regulated world, that would be disclosed (and in many areas, not actually allowed). In the unregulated world, it translates into a company doing it for free just because you cant see them.

    And finally, just to wrap it up nicely, their website says the following:
    Your details are 100% secure

    Unlike your money.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • edited 8 February 2018 at 3:56PM
    TrustyOvenTrustyOven Forumite
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    edited 8 February 2018 at 3:56PM
    dunstonh wrote: »

    And finally, just to wrap it up nicely, their website says the following:
    Your details are 100% secure
    Unlike your money.


    Fundamentally, no one's details are 100% secure (**) ... so we know they are not 100% truthful.

    ** - think back to all the different break-ins, hackings, data leaks over the last 15 years, all the big players that had to publically apologise. This lists some of them: https://en.wikipedia.org/wiki/List_of_data_breaches
    Goals
    Save £12k in 2017 #016 (£4212.06 / £10k) (42.12%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
  • ChesterDogChesterDog Forumite
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    Quite so.

    "Your details are secure" - possibly an honest statement.

    "Your details are 100% secure" - definitely a dishonest statement.
    I am one of the Dogs of the Index.
  • ChesterDog wrote: »
    Quite so.

    "Your details are secure" - possibly an honest statement.

    "Your details are 100% secure" - definitely a dishonest statement.

    Thing is, it's probably just some stupid marketing gimmick. But they should know better.

    I have a pet peeve about people saying/writing "100% sure" or anything like that, because life has taught me that there are always things that could happen that invalidate that statement. Examples:

    - "I 100% guarantee I will pay you back next week"
    - "I'm 100% sure she likes you"
    - "100% sure you will get a fine"
    - "it's your engine that's died, 100%"
    and so on.
    Goals
    Save £12k in 2017 #016 (£4212.06 / £10k) (42.12%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
  • edited 8 February 2018 at 6:22PM
    bail-inbail-in Forumite
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    edited 8 February 2018 at 6:22PM
    Care to share your source on that?
    Not an independent source as there is none that I know of for such figures. My source is the number approx 4000 bondholders on the LC&F website a while back. However, also quick deduction taken from number of Feefo reviews, and income from Annual Accounts Companies House for LC&F. Quite happy to change the estimate to a more accurate updated figure that you know of. Just as I am happy to make any other corrections, if pointed out and confirmed, as I have already made in the past to my posts. I see from dunstonh the current number of investors in the mini-bond is 7000.
  • dunstonhdunstonh Forumite
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    Not an independent source as there is none that I know of for such figures. My source is the number approx 4000 bondholders on the LC&F website a while back. However, also quick deduction taken from number of Feefo reviews, and income from Annual Accounts Companies House for LC&F.

    Feefo reviews are pointless. There is no measure of the knowledge and understanding of the person making the review. Plus, there is no guarantee that the reviews are genuine. All the scams out there have great reviews as the scammers generate them. This is not a scam but there is no measure of whether the reviews are genuine or not.

    The main thing is that plenty of those reviews are likely to have been made by people who dont have a clue about the risk that they have taken and are only measuring them on the basis that they have received their money. So did Bernie Madoff's investors in the early years.

    LC&F have never issued these bonds in any negative period. So, they are totally untested.

    Companies House does not give any indication of the number of happy investors who know what they are doing.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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