Wealth Management companies: web site location of reviews from existing customers?

Albermarle

I was looking at one of these local news sites on the internet this morning . Of course they are awash with adverts, clickbait etc but I was surprised at the sheer number of 'get rich quick'  ' claim your compensation now ' ' are you missing out on a little known benefit ' + ' Fixed rate bonds at guaranteed rates ' etc etc .
There really should be some kind of control and/or the owner of these sites should take some responsibility .

KevinLondon

Good afternoon eskbanker,

I should have known: my relative merely started with a 'best interest rate' type search straight into Google. The first stop was Money Ssaving Expert itself; he was not keen on the offered rate and there followed a series of URL after URL traversals until he reached the 'wealth management' company that caused this thread to be initiated.
Thank you once again,

Kevin

eskbanker

KevinLondon said:

I should have known: my relative merely started with a 'best interest rate' type search straight into Google. The first stop was Money Ssaving Expert itself; he was not keen on the offered rate and there followed a series of URL after URL traversals until he reached the 'wealth management' company that caused this thread to be initiated.

Hopefully this discussion has been preemptive enough to prevent your relative from jumping into something he'd regret, but as a cautionary tale for the benefit of others who may read this, this is exactly how scammers prey on the greed of those who only have eyes for the pound signs rather than the risks, so anyone who's offered a rate that's clearly out of step with what's publicly visible on reputable sites should always ask themselves (or others) why that would be....

Albermarle

eskbanker said:

KevinLondon said:

I should have known: my relative merely started with a 'best interest rate' type search straight into Google. The first stop was Money Ssaving Expert itself; he was not keen on the offered rate and there followed a series of URL after URL traversals until he reached the 'wealth management' company that caused this thread to be initiated.

Hopefully this discussion has been preemptive enough to prevent your relative from jumping into something he'd regret, but as a cautionary tale for the benefit of others who may read this, this is exactly how scammers prey on the greed of those who only have eyes for the pound signs rather than the risks, so anyone who's offered a rate that's clearly out of step with what's publicly visible on reputable sites should always ask themselves (or others) why that would be....

Or to put it another way 'there is no such thing as a free lunch '