Asset Life Plc

edited 14 September 2017 at 12:57PM in Savings & Investments
43 replies 11.2K views
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  • cloud_dogcloud_dog Forumite
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    Looking better....5th in google's list :)
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • ColdIronColdIron Forumite
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    I note from their web site that their Investment Cover is provided by Klapton Insurance
    Klapton Insurance is an insurer and reinsurer registered in the Autonomous Island of Anjouan, Union of Comoros
    The Autonomous Island of Anjouan is located in the Indian Ocean between Mozambique and Madagascar
  • cloud_dogcloud_dog Forumite
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    Lollipop99 wrote: »
    I was having a look around for investments and came across this thread about Asset Life. I did some more research and found out that the information isn't entirely true on here.
    They ARE FCA authorized and the news article posted on this thread is just about Angelo Wealth... it doesn't mention Asset Life doing anything without permission from the FCA . So I'm a little unsure as to why this thread makes it seem like Asset Life is a bad company to invest into when they're just like other investment companies I've been researching e.g Blackmore Bonds, London Capital and Finance PLC etc.:eek:

    I need someone to help me clarify about this company. I've been reading blogs and seen their promotions, so far they give a higher return and like all other investments they do mention your capital may be at risk.

    Should I look to invest into this company? There's a new series starting next week, sounds interesting...:cool:
    Ok, I'll try to help you out...

    Assuming we are talking about the same Asset Life PLC company then:

    a) A search of the FCA register.... Our survey says, Nooooo
    b) A quote from Asset Life PLC website:

    "RISK; Asset Life has entered into an agreement with Klapton Insurance Company Limited whereby each Lender will receive surety from said company up to the amount of each loan and cover accrued interest subject to terms. All investments entail risks. Asset Life is not regulated by the Financial Conduct Authority (FCA) and lenders will not covered by the Financial Service Compensation Scheme (FSCS). There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate their ability to invest for a long term especially during periods of a market downturn."

    Hopefully you will find this information interesting and hopefully...cool.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • antrobusantrobus Forumite
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    cloud_dog wrote: »
    Ok, I'll try to help you out...

    Assuming we are talking about the same Asset Life PLC company then:

    a) A search of the FCA register.... Our survey says, Nooooo
    b) A quote from Asset Life PLC website:

    That's about it.

    What Asset Life says is this;

    Asset Life Plc is registered in England, no: 09144715 with the registered office: 4 Devonshire Street, London W1W 5DT.
    Approved for the purposes of s21 FSMA by Opus Capital Limited FCA No. 403428


    For one thing, s21 FSMA only relates to Restrictions on financial promotion, for another thing Opus Capital Limited is 'No longer authorised' by the FCA.

    https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfXDcAAN

    Doesn't fill me with confidence.:)
  • edited 9 November 2017 at 5:22PM
    jimjamesjimjames Forumite
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    edited 9 November 2017 at 5:22PM
    Thanks for the research cloud_dog, that's useful to know. I certainly won't be investing any of my money in Asset Life plc.

    In the words of the dragons, I'm out....
    Lollipop99 wrote: »
    They ARE FCA authorized and the news article posted on this thread is just about Angelo Wealth... it doesn't mention Asset Life doing anything without permission from the FCA . So I'm a little unsure as to why this thread makes it seem like Asset Life is a bad company to invest into
    ol:
    Where did you get the suggestion that Asset Life plc are FCA authorised when their website says they aren't? I think that not being authorised and offering an investment where you can lose all your money makes Asset Life plc a bad company to invest in for the majority of the population who are not high net worth individuals and can't afford to risk losing their money
    Remember the saying: if it looks too good to be true it almost certainly is.
  • edited 9 November 2017 at 5:27PM
    dunstonhdunstonh Forumite
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    edited 9 November 2017 at 5:27PM
    So I'm a little unsure as to why this thread makes it seem like Asset Life is a bad company to invest into when they're just like other investment companies I've been researching e.g Blackmore Bonds, London Capital and Finance PLC etc.

    Have you read the other threads on those companies as well?
    I need someone to help me clarify about this company. I've been reading blogs and seen their promotions, so far they give a higher return and like all other investments they do mention your capital may be at risk.

    No. Your Capital IS at risk. This is an unregulated, 100% capital at risk instrument. It is not a retail financial product. Nothing "may" about it.
    Should I look to invest into this company?

    Whilst mini-bonds are technically legal and valid, they are not meant to be sold like a retail financial product. i.e. they should not be marketed to inexperienced retail consumers. There have been a number of failures in these with many resulting in total loss. They are really meant for experienced investors with high net worth who would typically put no more than 5% of their investable wealth into one.

    Mini bonds are not all created equal. Whilst most of them are high risk, there are the ultra high risk ones. Typically those issued by companies not regulated at any level and in locations that are not generally associated as being a financial centre.

    So, if you can accept losing 100% of your capital on anything you invest and accept that this particular instrument is higher risk than anything on your typical risk scale, then go for it. Its your money to lose.

    If I was to be honest and say what I think, I would be taking another enforced break as some snowflake would report it.
    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.
  • cloud_dogcloud_dog Forumite
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    It is definitely a little worrying if the company appears to give the impression that they are FCA registered when in fact they are not, although in their defence if you search for it it is there (in the depths).

    Some people might 'glance' at the information and think that this is an interesting and cool investment.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • ReaperReaper Forumite
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    Lollipop99 wrote: »
    So I'm a little unsure as to why this thread makes it seem like Asset Life is a bad company to invest into when they're just like other investment companies I've been researching e.g Blackmore Bonds, London Capital and Finance PLC etc.
    They are indeed like those other companies in many respects, the others are also high risk unregulated investments where you stand a chance of losing all your money with no recourse to the FSCS.

    You might feel the fact their directors are also directors of a company there is an FCA warning about and their insurance is provided by a company whose owner was prosecuted by the FCA for millions make them a different to the rest, but as I am trying to avoid opinions in this thread I will leave you to make your own mind up.

    On the plus side this thread is doing better on Google searches now.
  • ReaperReaper Forumite
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    Hmmm, thinking about it Lollipop99's post is a bit odd. Don't be provoked into saying anything that can't be supported by the facts, we don't want the thread deleted again.
  • badger09badger09 Forumite
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    Reaper wrote: »
    Hmmm, thinking about it Lollipop99's post is a bit odd. Don't be provoked into saying anything that can't be supported by the facts, we don't want the thread deleted again.

    I was thinking exactly the same thing. However, I offer no opinion, this time;).
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