abbey financial solutions and Irish Life

We are about to invest some money and do not want to be caught out. Has any members been involved with a company called Abbey Financial Solutions who invest through Irish Life in a spanish portfolio bond. Any info good or bad would be apprecaited, thanks in advance

** EDITED - Removed at user's request **

Dear Kathy and Bob

Your financial adviser should provide you with a Business Card a Terms of business letter and complete a comprehensive Fact find and risk profile ,he should be  qualified to fpc 3 level. Also  a key features document and a suitability report should be provided before you hand over any money ,most IFA s operating in spain have opted out of UK regulation as it is very onerous but is there to protect you the client ,i would seek advice from a UK IFA who is passported and will be able to offer offshore investments denominated in your local currency if appropriate.

Usually the Isle of man and the channel islands are most popular for offshore bonds

Is your adviser charging you a fee or commision he may be taking up to 7 to 8% commission so consider this ask him how he gets paid.

Regards

Rod

Abbey Financial Solutions use Inter Alliance Worldnet Network to put all their business thorugh. They are a company in Cyprus. Cyprus has fairly loose regulation, which is why advisors can get away with charging high fees. There was a panorama report on Inter Alliance Network last night on BBC (see their website it's repeated on sunday) Illustrating how someone in the UK was ripped off by the high fees Inter Alliance Wordnet can get away with. There are far far better options out there. Find a company who is authorised and regulated by the FSA, to passport their services out across the world. (not a company who has been given permission by the FSA to sell in the UK, but are actually regulated in cyprus, check the panorama investigation)