in Savings & investments
114 replies 19.4K views
Would be very grateful for some help with regards to an upsetting and highly stressful time for my parents. On the advise of their financial adviser they invested their entire life savings into two separate sister companies: helix investment management and munio capital. These are companies then invested their money in a payday loan company called privilege wealth plc. Privilege wealth plc have now claimed that due to fraud within the company that they essentially have no money left and need to liquidate the company. Where this leaves my parents money is anyone's guess. Their financial adviser is useless and has no answers to their questions. It seems helix are currently in a court case with privilege wealth to try and gain whatever assets there are left. Munio have dropped off the face of the earth, no website, emails getting pinged back to us, phone number not working. My parents are thinking now it's solicitor time and to possibly try and sue financial due to poor advice, he assured them this was a completely safe investment and nothing could go wrong and being green about these things they trusted him. Both these companies seem to be unregulated and i want to know does that make a difference. Please any advice is more than welcome as my poor parents are literally ready for a break down with worry !!!128577;
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