Clubfinance now part of WealthClub

[SpinDoctor]

Evening all.
My concerns echoed above. Dislike the name; ClubFinance much more balanced. Very glossy materials. Arguably imbalanced advice; surely "compelling opportunity" is a step too far. The reduction of discounts/rebates are notable; the death of the CF's unique selling points provides a gap in the market for other IFA(s).

Well done to the CF team who from nothing really disrupted the market in an investor-centred way. I expect they had a great offer. I hope they didnt sell out too early.

SD

[Kidman]

Arguably imbalanced advice; surely "compelling opportunity" is a step too far.

To be fair to Wealth Club, they are not saying that their latest publication dated February 2018 is advice. Indeed, they describe it as "a marketing communication" and point out that it was mainly funded as to "£1.80 per pack from some providers" (quotes from bottom of back page). I presume those providers are the ones who received the 'advertorial' write-ups.
In many ways this is similar to providers giving financial assistance to execution-only brokers so they can distrubute hard-copy prospectuses with a suitable recommendation.
If it is not an official prospectus, securities note or similar document, then I suggest it is marketing. To me, even the covering letter that a VCT sends out to its own shareholders about a new issue is marketing.

[Shinyuk]

No particular axe to grind but it seems that WC is marginally more advantageous than Cavendish for the Hargreaves Hale offer which I’m looking to top up. Both offering 2% discount but WC is rebating the trail commission at 0.1% per annum vs 0% for Cavendish. It’s certainly less rebate than Clubfinance offered but I guess it’s better than nothing!

[127tolmers]

I invested in a very similar BES issue some decades ago. The freight rates went down, the value of the secondhand ships went down and in the end we got some money back but less than invested. If my memory is correct the company was Short Sea Europe plc. A search for similar companies reveals losses at Bromley Shipping and Edinburgh Tankers.

This cargo ship EIS issue got pulled due to low take up. A shame really as it was something different under the old rules. It would not comply going forward.

[onslow]

To be fair, buying a container ship was a bit "out there" even for an EIS! Unusual, not much of a track history etc

I made the most of other asset backed EIS schemes, Titan Storage and West London Pub which i believed closed today.

I think the risk/reward for these types of assets(backed by property - not a ship!) is pretty impressive....can see why the Gov is clamping down!

[UncleEbenezer]

Regretfully I'm declaring RIP to ClubFinance, and adding WealthClub to my list of companies with which I refuse to do business.

The very occasional and entirely acceptable communications I used to get from ClubFinance - having always opted out of any marketing materials they might send - has been replaced by a level of unwanted junk that clearly crosses into spam. That implies they're violating my rights under Data Protection. So I shall be taking all future business elsewhere.

[Karellan]

Regretfully I'm declaring RIP to ClubFinance, and adding WealthClub to my list of companies with which I refuse to do business.

The very occasional and entirely acceptable communications I used to get from ClubFinance - having always opted out of any marketing materials they might send - has been replaced by a level of unwanted junk that clearly crosses into spam. That implies they're violating my rights under Data Protection. So I shall be taking all future business elsewhere.

I can see where you are coming from and your assessment of the situation is similar to mine.