Anyone heard of Clifton Asset Management???

[Stevie Wonder]

Anyone heard of Clifton Asset Management???

I get a letter every so often from this company stating that they can offer increased overdraft and borrowing facilities for my business, and at a cheaper rate!!!

Like any business owner at the moment, I am dubious regarding any claims like these as they are simply too good to be true, infact I currently have no lending facilities outside a £1000 limit commercial credit card.

Therefore I am wondering if anyone in the forum has any experience dealing with Clifton Asset Management and the use of their services in general.

Let me know.

Thanks!

 

[KateCB]

I have heard of them, I did talk to them a couple of years ago however from my vague recollection of the discussion they wanted me to 'sell' my IP (intellectual property) to my company (I own the IP personally for my companies use) in order to raise funds - there would be no actualy transfer of cash, but they would 'lend me' the value to be repaid over a period of time.

We didn't go for it, as they wanted personal pensions, peronsally held IP etc as 'collateral' - they are quite well know and do have a web site - their consultation is free, but if you don't need huge amounts for expansion, or don't have things like insurance policies, pension funds etc that can be used for them to loan against, then I would steer clear.

What they do is legal, sounds great, not too good to be true, but only useful for larger companies IMHO.

 

[Richie N]

Yes they keep sending out letters to me every month.
Told them many times to remove me from their mailing list but it doesn't seem to be working.
Very unprofessional company imo.

 

[Gil Fleming]

Just received a Clifton letter promising 'larger and less expensive funding facilities'. Looked them up on our RiskDisk software and Clifton Asset Management Plc is listed as a non-trading company. The Directors do have other directorships listed, but it's not a good start.

 

[lancsman]

Yes, I've used Clifton and Morgan Lloyd on several occasions over the last 5 years. I would say that my experiences have been very good. They did what they said they would do, I was able to get funding to grow and they have continued to look after my stuff since. I think that it is not for everyone, but works for me. In fact I recomended them to a colleague about a year ago and they were satisfied also. Definitely worth considering.

 

[fisicx]

Hmmm. A post praising the company from a first time poster. Do you work for them or have you been paid to post. Either way your claims are highly suspicious.

 

[MikeJ]

Bemaeng's posts are a bit odd. Says they're no good. Then asks if anyone's had dealings with them. Then says thay're not good again!

 

[lancsman]

Actually I googled them to get their number (yes...I am lazy!) and this forum came up right under their listing on the first page, and so was intrigued. What's the point of having these forums if you are going to believe anything negative and not anything positive?

 

[Envy]

I have practical experience with them recently. Probably a good scheme is spoilt by their inability to give you a correct timescale. 4 to 6 weeks never, 14 weeks maybe. Professional presentation but have you jumping through hoops to answer questions. Make a record of what you are told in the first place, I was told nearly 300 people work on your scheme more like 4 or 5. Expensive fee and you need to write a novel to complete the paperwork.What they produce in the end is expensive if you just want to raise some capital don't bother there are much cheaper ways to sort out a SIPP. In my case it might be ok and my web-site is an important part of my business and the future of my business. Quick fix to raise funds, no chance, lost the will to live over the time taken, you have to push it to get completed.

 

[Disillusioned0107]

Since we're now heading for the FSA I'll stick to the facts of a longer story.

I also saw an advert about cheaper business finance. I had no particular problem but we all look for ways to save money.

I transferred £106,000 into a SIPP from perfectly OK personal pensions.

£11,000 was immediately taken out as "fees".

When I asked for the advertised cheap finance a further £3000 was taken as "fees" to arrange a fairly small loan.

This isn't cheap finance, it's VERY expensive.

 

[JEREMY HAWKE]

Since we're now heading for the FSA I'll stick to the facts of a longer story.

I also saw an advert about cheaper business finance. I had no particular problem but we all look for ways to save money.

I transferred £106,000 into a SIPP from perfectly OK personal pensions.

£11,000 was immediately taken out as "fees".

When I asked for the advertised cheap finance a further £3000 was taken as "fees" to arrange a fairly small loan.

This isn't cheap finance, it's VERY expensive.

Hello First time poster !!!

Very Very dogdy stuff and possibly against the law .
Your very high fee went to them but Im guessing you were asked to register as a broker !!!
What happened to the remaining fund I bet that went into a carbon credit fund that promises massive gains over the next 15 years .
Your basicly blowing about 50 K to get 20K in a couple of weeks a good idea if your family have been captured by somalinan pirates or you need medical treatment to save your bacon but I dont see any other good reason to use these companys

 

[vvaannmmaann]

Company Accounts

Last Accounts filed up to: 31/12/2010
Accounts end date: 31st December
Next due date: 30/06/2012
Last made up date: 31/12/2010
Accounts category: DORMANT

 

[unhappy54]

This company is total rubbish!
In my opinion they are extremely expensive and do very little for what they charge. There is absolutely no customer service. They take your money and disappear. We are now at the point of going to the FSA and contacting Lawyers in relation to the mess they have created.
My advice is 'do not touch them with a barge pole'!

I have practical experience with them recently. Probably a good scheme is spoilt by their inability to give you a correct timescale. 4 to 6 weeks never, 14 weeks maybe. Professional presentation but have you jumping through hoops to answer questions. Make a record of what you are told in the first place, I was told nearly 300 people work on your scheme more like 4 or 5. Expensive fee and you need to write a novel to complete the paperwork.What they produce in the end is expensive if you just want to raise some capital don't bother there are much cheaper ways to sort out a SIPP. In my case it might be ok and my web-site is an important part of my business and the future of my business. Quick fix to raise funds, no chance, lost the will to live over the time taken, you have to push it to get completed.

 

[Chris Shotton]

In summary avoid this company like the plague!

We have just come to the end of a 6-month debacle with Clifton to ultimately NOT get the pension funding we have paid into for best part of ten years!

Clifton is the most unprofessional, annoying and frustrating company I have ever had the misfortunate of being involved with. The scheme in essence is an excellent idea but destroyed by the involvement of Clifton.

They never clearly explain the process from end to end and constantly change the goal posts. You incur a significant amount of cost and time to provide responses to their exhaustive and constantly changing requirements. They never call you back, you have to constantly expedite responses, and when you speak to representatives they all have the most annoying attitude of talking and not coming up for air, never letting you get a word in edgeways and constantly talking over you.

I would never consider doing business with the company again and would implore you to exhaust every other option before engaging with this firm.

Truly awful, stressful and frustration experience, appalling company!

 

[TODonnell]

...
I transferred £106,000 into a SIPP from perfectly OK personal pensions.

£11,000 was immediately taken out as "fees".

When I asked for the advertised cheap finance a further £3000 was taken as "fees" to arrange a fairly small loan.

...

Holy Jumpin' Jiminy! How in the heckfire can anyone justify that kind of commission?

I read on Dailymail.co.uk (that font of all knowledge) about a farming family that lost the farm because they got hooked with a finance deal that was basically a way to grab their land and flog it. The judge involved commented something like 'sharp practices' which was code for 'rip off thieving shylocks'. IMHO.

i.e.

- You get a fat loan against valuable property of some kind used as collateral. Or a relative acts as guarantor.
- The % they get on top of the principal is boosted by fees, commission etc.
- The rate or payment date can be altered. Or they say you missed a payment.
- The lender gets commission, fees, interest, wotever: they win, you lose.
- You default on the loan: they get the collateral; they win, you lose.

 

[Stuart Farmer 001]

Hi members caught out by Clifton Asset Management
I fell into the trap ofsetting up a sass pension
they said the pot would be actively managed
It is not
And the are a hit and run outfit

I have had independent advice ref morgan lloyd - a similar sambolic lot of greed personified
I see one or two going down FSA
Or eqivalent

I want to find all those caught out and get some redress for us all

stuart 07930471204

 

[jimmy a]

Dear All
A new post and a new member.
I thought I may have been the only person that has regretted getting involved with Clifton/Morgan Lloyd . What ever anyone is reading here its worse than that .How they can even be registered as any form of advisors to business is beyond me .PLEASE DONT GET INVOLVED.. I am trying to go down the Ombudsman route right now.
As we know anyone can have a situation and its so easy to blame others for the decisions we make and to be honest I feel so stupid and embarrased being taken as a sucker., All I can do now is offer my evidence and others to make judgement .
stuart 07503156595 PLEASE 24/7 .Anything I can joint . Whatever it takes ,if for no other reason than to help others .I never dreamed I would get caught like this .




jimmy a . A COMPLETE IDIOT

 

[jimmy a]

Sorry Forgot To Say
If it helps anyone is invited to join our case opened with the Financial Ombudsman and The Pension Ombudsman .
I just need to know for start how we can get our pension fund back with some accurate figures and some sort of explanation of where and how the fees went as we would assume no matter what they say anyone agreed to they have to supply the service. Perhaps they can start with telling how where our missing files went. Last we heard they told us it shouldn't have effected the money they appear not to be able to account for.

Jeeeeze I feel a right idiot PLEASE DONT BECOME ANOTHER ONE .

 

[anotheroldmug]

Clifton/Morgan Lloyd - VERY expensive mistake on my part. You will get the loan, after all it is your money they are lending back to you. I put nearly £56k in & paid just over £15k in various fees etc in 4 years. They are very slow if you want to withdraw your pot & evasive about charges. Unfortunately it is all legal but good luck

 

[jimmy a]

If nothing else its to warn others

 

[Disillusioned0107]

Just wondering if anyone else has received a letter from HMRC concerning thi

 

[Ferkel]

Anyone currently dealing with them? Starting to get annoyed.

 

[Newchodge]

The original post is very old. You will be better off starting your own thread