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Chase Belgrave's reply to:

Chase Belgrave - Poor Professional Advice

Thank you for taking the time to review us! We've taken a look at your file and yes one of the funds you invested in was suspended for a year - however it was done so because it moved jurisdiction. During that year it didn't stop trading, didn't lose any money and once the move to the new jurisdiction had completed the fund was unsuspended and available once again. In fact such a move is not uncommon with mutual funds as they seek to protect client assets when rules change, and certainly isn't reflective of risk, one way or the other.
ID
#837002 Review #837002 is a subjective opinion of poster.
Service
Chase Belgrave Investment Service
Cons
  • Incorrect advice for my investor profile
  • Lack of follow up advice or infomation after initail investment
  • Considerable loss on investment - no reason given
Reason of review
Poor customer service

Over a period of six years, investments made with CB lost 25% - 100K. Communication from them was negligible; any information provided was at my instigation.

I was not advised that the two funds in which my money was invested were suspended (they still are) one for over a year and one since 2013. When I queried whether funds should be transferred, as money was stagnating, I was lied to and advised that I should 'hang on' and wait for markets to improve. It was not made clear that, due to their poor investment choices, my money was frozen and I was unable to access it. These funds were for my retirement.

CB still suggest that my funds are invested wisely but as a low risk investor, a fact of which they were aware, the only way they could recuperate, when the suspension is lifted, is by investing in high risk funds, subjecting me to the chances of losing even more.

Inappropriate professional advice and complete lack of communication and fund management. Strongly advise against using CB.

1 comment
Tessa
#1160878

Strange, the service I've received has been incredibly impressive and that's what I've heard from some of the people in the development too.

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