City Equities Ltd and/or Beaufort Securities Ltd
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Comments
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When they said XO, they were meaning "Execution Only".
Dales0 -
Just to clarify, a few years ago my portfolio was worth approx £20k but when Beaufort ceased trading earlier this year, the value of my portfolio was down to £7k. I have just got access to the full trading history of my account and am still trawling through the transactions.0
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Just to clarify, a few years ago my portfolio was worth approx £20k but when Beaufort ceased trading earlier this year, the value of my portfolio was down to £7k.
So, clearly, you were not investing in FTSE100 companies. And the loss is more in line with their extremely high risk, niche, illiquid investments of the type that 99% of the population decide to never go near.
Extreme high risk investments can make a lot or lose a lot. That is the risk you take with any investment. The scale of gain/loss reflects the risk you are taking. Whether it is off the scale, like Beaufort, or mainstream cautious like VLS40, where gains will be lower but so will losses.
Or putting it another way, you went into something with extreme zig zagging on the values hoping it would zig but instead it zagged.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.0 -
off the scale, like Beaufort0
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I know very little about shares, but the first adviser I had with Beaufort was definitely putting my money in top companies such as Rio Tinto, Petropavlovsk and Diageo etc. I think it started to go wrong when he left, but as I said, I am still trawling through the trading history. My agreement states that they would not invest more than 20% of my funds into 'high risk' i.e. non FTSE 250 companies.0
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Graham_R_Middleton wrote: »I know very little about shares, but the first adviser I had with Beaufort was definitely putting my money in top companies such as Rio Tinto, Petropavlovsk and Diageo etc. I think it started to go wrong when he left, but as I said, I am still trawling through the trading history. My agreement states that they would not invest more than 20% of my funds into 'high risk' i.e. non FTSE 250 companies.0
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So, clearly, you were not investing in FTSE100 companies.
I suppose they could lose two thirds by churning the shares to extract high commissions, and investing in the wrong FTSE100 companies, bad timing etc?“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0
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