6% Sainsbury's bank Fixed Rate bond Atlantic Capital Management

aroominyork

"The name's bond. Fixed rate callable resettable bond."

eskbanker

aroominyork said:

"The name's bond. Fixed rate callable resettable bond."

I've been expecting that....

2unlimited91

eskbanker said:

aroominyork said:

"The name's bond. Fixed rate callable resettable bond."

I've been expecting that....

No, mister fixed rate callable resettable bond, I expect you to default.

aroominyork

eskbanker said:

aroominyork said:

"The name's bond. Fixed rate callable resettable bond."

I've been expecting that....

Thank you thank you. I'm here at the MSE Piano Bar & Grill until Thursday.

AnotherJoe

Reddogwoman said:

I'm thinking of investing in this bond through Atlantic Capital Management but have never used this kind of investment before. They tell me it's 100% safe, but they would say that wouldn't they? I checked them out on companies house and they appear legit, but this is a whole new thing for me. I'm trying to find a suitable investment for my Dad to put a £20,000 sum which is currently in an ISA and due to mature in the next couple of months. Has anyone had experience of this company or this bond? They say there are no management fees and just a £12 early withdrawal fee subject to 30 days notice. Seems a bit too good to be true so a little concerned about investing but it also seems like a good way to invest money he's happy to put away for 1-2 years. I'd be really grateful for any comments/ advice please. Thanks

Your dad needs a different adviser.

And as said, stop using facebook / google.

Reddogwoman

Swipe said:

I think you mean 0.6%

This is from the email they sent :

As discussed the bond with Sainsbury's is a fixed rate corporate bond so it is in no way linked to stocks and shares. 

The 6% is a fixed rate with is 100% covered by the FSCS up to £85,000 and is therefore 100% risk free as the rate will never fluctuate.

As this is a liquid investment you can access the funds in part or full at any opoing subject to giving 30 days notice.

Adam Alsop

Wealth Advisor

 

Email: adamalsop@atlanticcm.co.uk

Reddogwoman

Thanks everyone for your advice, I thought it sounded too good to be true so just wanted to hear what everyone else thought. I've checked the company out on the FCA page and there are two companies listed there, one is Atlantic Capital Management Ltd and the other without the Ltd, however the website the person has been emailing me from quotes the FCA code for the legitimate company so that makes it even more difficult to decipher what is truth and what is fiction. 
It's certainly clear that they're not being truthful from what you've all said as they were adamant that this would be 100% safe investment, but I now know it's not!
 I will seek further advice from an FA as with Dad's ISAs maturing he needs somewhere safe to invest his money but at the best possible interest rate to supplement his state pension.  In the past it was the interest from his savings which topped that up, these days he's finding things a little difficult but refuses (as many elderly people do) to actually spend any of his savings. 
So glad I joined this forum.

Albermarle

 I will seek further advice from an FA as with Dad's ISAs maturing he needs somewhere safe to invest his money but at the best possible interest rate to supplement his state pension

If he is only interested in safe savings then the only choice is a savings account with a bank or similar , or with NS & I ( the government basically ). Interest rates are not great at the moment though ( around 1% to max 1.5% ) . You do not need a IFA/FA to do this .

https://moneyfacts.co.uk/

If he wants to earn a better return he will have to invest in stocks and shares etc . This brings a risk of losses, although in the long term ( >10 years) you should normally see a good positive return .

What this Atlantic company is peddling is the myth that you can earn more than 1.5% and your money is still 100% safe .

Unfortunately that is just not possible and they are lying .

colsten

Reddogwoman said:

Swipe said:

I think you mean 0.6%

This is from the email they sent :

......

The 6% is a fixed rate with is 100% covered by the FSCS up to £85,000 and is therefore 100% risk free as the rate will never fluctuate.

2 lies in 1 sentence.

Stay clear!

colsten

@Reddogwoman: you should report them to the FCA: https://www.fca.org.uk/consumers/report-scam-us