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Post by jevans4949 on Jan 11, 2019 11:21:27 GMT
Between May 2013 and March 2014, I invested £7000 into the Assetz MLA account (as it’s now called). At that point I paused to see how things panned out in the longer term. On the first working day of 2019 my “Total Invested” went over £10,000. The downside is that a quick analysis of the downloaded Loan Book at the end of the year shows 16 out of 111 loans suspended, mostly with little chance of any further recovery, with a book value of £1161.71 (out of £9994.69). Analysis of the Accrued Interest shows that these loans also account for £627.28 out of £667.09. But I’m satisfied that the net growth rate is better than I would have got from a bank savings account, which is where my money would have languished otherwise. It helps to be time-rich, so you can speed-read the credit reports and (hopefully) spot the potential duds. I have never been tempted to gof for the black-box accounts.
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Post by Butch Cassidy on Jan 11, 2019 11:42:16 GMT
I joined AC in Nov 2013 & have only invested in the MLIA, as I prefer control over my own investments, over the years I have had upto 6 figures invested on the platform but I have been reducing my exposure largely in a response to falling rates (& management denials that it was happening!) & a clear movement towards the automated accounts, which brought significant disadvantages to MLIA only investors, in terms of attractive loan availability & allocation. The final straw came at the end of last year when I was told that against my express wishes 2 factor authentication was to be unilaterally imposed & I could "take it or leave" so I chose the later & now have a very small residual investment left.
I am still an equity shareholder & wish the platform well as overall it has been a very profitable 5 year journey with a decent 5 figure net return. It is clear that the platform & returns offered are now very different to the one I first joined but times change & I leave with no regrets & wish good fortune & success to all those who remain & hope to see the platform grow & flourish well into the future, even given the less certain environment for P2P in general going forward.
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bg
Member of DD Central
Posts: 1,368 
Likes: 1,929
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Post by bg on Jan 11, 2019 11:55:35 GMT
I joined AC in Nov 2013 & have only invested in the MLIA, as I prefer control over my own investments, over the years I have had upto 6 figures invested on the platform but I have been reducing my exposure largely in a response to falling rates (& management denials that it was happening!) & a clear movement towards the automated accounts, which brought significant disadvantages to MLIA only investors, in terms of attractive loan availability & allocation. The final straw came at the end of last year when I was told that against my express wishes 2 factor authentication was to be unilaterally imposed & I could "take it or leave" so I chose the later & now have a very small residual investment left.
I am still an equity shareholder & wish the platform well as overall it has been a very profitable 5 year journey with a decent 5 figure net return. It is clear that the platform & returns offered are now very different to the one I first joined but times change & I leave with no regrets & wish good fortune & success to all those who remain & hope to see the platform grow & flourish well into the future, even given the less certain environment for P2P in general going forward. You can now opt out of 2FA except for cash withdrawals though...so surely that isn't too bad?
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angrysaveruk
Member of DD Central
Back and to the left..
Posts: 1,016
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Post by angrysaveruk on Jan 11, 2019 12:12:05 GMT
My experience with lending on AC is they are a good platform that do their best to recover loans. My 2 main suggestions for the platform are:
1) Do not make business loans without concrete security.
2) Limit the loan size per borrower.
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Post by Butch Cassidy on Jan 11, 2019 12:29:07 GMT
I joined AC in Nov 2013 & have only invested in the MLIA, as I prefer control over my own investments, over the years I have had upto 6 figures invested on the platform but I have been reducing my exposure largely in a response to falling rates (& management denials that it was happening!) & a clear movement towards the automated accounts, which brought significant disadvantages to MLIA only investors, in terms of attractive loan availability & allocation. The final straw came at the end of last year when I was told that against my express wishes 2 factor authentication was to be unilaterally imposed & I could "take it or leave" so I chose the later & now have a very small residual investment left.
I am still an equity shareholder & wish the platform well as overall it has been a very profitable 5 year journey with a decent 5 figure net return. It is clear that the platform & returns offered are now very different to the one I first joined but times change & I leave with no regrets & wish good fortune & success to all those who remain & hope to see the platform grow & flourish well into the future, even given the less certain environment for P2P in general going forward. You can now opt out of 2FA except for cash withdrawals though...so surely that isn't too bad? It was just the final straw & how you choose to treat your customers, investors & shareholders in general over a longer period. I have always tried to get the management to listen to improvements & alternative viewpoints, on various issues over the years, in a hope of improving the platform experience & to be fair had always felt that people like Andrew Holgate at least listened to concerns & understood that they weren't always the font of all wisdom, even if the final decision or direction ended up being a different one to which I was advocating.
Perhaps the platform, management & direction of travel had just moved on & no longer matched my own requirements or vision of how to conduct business. I stress that I hold no animosity towards the platform or any individual & remain of the belief that their current strategy will benefit me as a shareholder if not as an investor.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,877
Likes: 11,101
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Post by ilmoro on Jan 11, 2019 12:34:17 GMT
I joined AC in Nov 2013 & have only invested in the MLIA, as I prefer control over my own investments, over the years I have had upto 6 figures invested on the platform but I have been reducing my exposure largely in a response to falling rates (& management denials that it was happening!) & a clear movement towards the automated accounts, which brought significant disadvantages to MLIA only investors, in terms of attractive loan availability & allocation. The final straw came at the end of last year when I was told that against my express wishes 2 factor authentication was to be unilaterally imposed & I could "take it or leave" so I chose the later & now have a very small residual investment left.
I am still an equity shareholder & wish the platform well as overall it has been a very profitable 5 year journey with a decent 5 figure net return. It is clear that the platform & returns offered are now very different to the one I first joined but times change & I leave with no regrets & wish good fortune & success to all those who remain & hope to see the platform grow & flourish well into the future, even given the less certain environment for P2P in general going forward. You can now opt out of 2FA except for cash withdrawals though...so surely that isn't too bad? Indeed the imposition turned out to be nothing of the sort. There is a little banner telling me its available and thats that (havent tried a withdrawal)
I note that their sister platform hasnt launched with it or indeed anything more than a password.
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Post by Butch Cassidy on Jan 11, 2019 12:56:11 GMT
You can now opt out of 2FA except for cash withdrawals though...so surely that isn't too bad? Indeed the imposition turned out to be nothing of the sort. There is a little banner telling me its available and thats that (havent tried a withdrawal)
I note that their sister platform hasnt launched with it or indeed anything more than a password.
I've looked out the final customer service e-mail received from Jessica on 26/10/18 - "If you do not want to set up Authy, you have until 7th November 2018 to withdraw your funds off the platform without using 2FA to log in. if you require a withdrawal after this date, you will need to set up 2FA to log in."
So I liquidated my portfolio & withdrew the funds; now whether the policy has subsequently changed I can't say but I repeat I have no regrets with my decision nor any animosity towards the platform we simply disagree on service standards.
EDIT: Latest AC e-mail seems unequivocal "Between 21st and 23rd January 2019 we will be phasing in mandatory Two-Factor Authentication on all accounts. This means when 2FA is activated on your account you will be required to set it up before you are able to access your Assetz Capital account"
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star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
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Post by star dust on Jan 11, 2019 13:45:32 GMT
You can now opt out of 2FA except for cash withdrawals though...so surely that isn't too bad? Indeed the imposition turned out to be nothing of the sort. There is a little banner telling me its available and thats that (havent tried a withdrawal)
I note that their sister platform hasnt launched with it or indeed anything more than a password.
I've done several  .
In Edit: You can also set to sell at a discount, another thing that was supposedly not going to be allowed (cancelled the sell order immediately  )
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Post by brettb on Jan 15, 2019 23:36:20 GMT
Their 2FA is another unneccesary botch - it won't deliver SMS's to where I am and why the hell should I install some unknown software on my PC just so I can use one freaking website?
Thankfully I've been winding down my investments on the platform but now it's going to be a real hassle to withdraw money.
When will idiots learn that a hard to use website will make them lose customers at an astonishing pace?
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dave2
Member of DD Central
Posts: 171
Likes: 160
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Post by dave2 on Jan 16, 2019 3:44:48 GMT
Their 2FA is another unneccesary botch - it won't deliver SMS's to where I am and why the hell should I install some unknown software on my PC just so I can use one freaking website?
Thankfully I've been winding down my investments on the platform but now it's going to be a real hassle to withdraw money.
When will idiots learn that a hard to use website will make them lose customers at an astonishing pace?
I access Assetz Capital on my laptop and installed the Authy app on my wifi connected android. No problems at all. For day to day use I don't need to re-authorise unless I have cleared cookies from my laptop browser, if I wish to withdraw funds I just click the Authy prompt.
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Post by hammertime on Jan 17, 2019 16:27:42 GMT
Ive made loads of money as the saying goes be gready when others are nervous brinng on brexit
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Post by roandy55 on Jan 17, 2019 16:36:13 GMT
Ive made loads of money as the saying goes be gready when others are nervous brinng on brexit In that case, brinng on Jeremy Corbyn then. 
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lara
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Likes: 300
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Post by lara on Jan 17, 2019 16:46:47 GMT
Ive made loads of money as the saying goes be gready when others are nervous brinng on brexit In that case, brinng on Jeremy Corbyn then. Don't even joke about that!
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Post by df on Jan 17, 2019 16:49:33 GMT
Between May 2013 and March 2014, I invested £7000 into the Assetz MLA account (as it’s now called). At that point I paused to see how things panned out in the longer term. On the first working day of 2019 my “Total Invested” went over £10,000. The downside is that a quick analysis of the downloaded Loan Book at the end of the year shows 16 out of 111 loans suspended, mostly with little chance of any further recovery, with a book value of £1161.71 (out of £9994.69). Analysis of the Accrued Interest shows that these loans also account for £627.28 out of £667.09. But I’m satisfied that the net growth rate is better than I would have got from a bank savings account, which is where my money would have languished otherwise. It helps to be time-rich, so you can speed-read the credit reports and (hopefully) spot the potential duds. I have never been tempted to gof for the black-box accounts.
I have mixed experience. Very positive from QAA, 30-day and manual. Very negative from Great&Green. I've tested PSA for a couple of months when it was introduced to check diversification, but it appeared to be as bad as the other two, so I withdrew funds (except 3p stuck in 227).
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IFISAcava
Member of DD Central
Posts: 3,665
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Post by IFISAcava on Jan 17, 2019 18:22:21 GMT
Between May 2013 and March 2014, I invested £7000 into the Assetz MLA account (as it’s now called). At that point I paused to see how things panned out in the longer term. On the first working day of 2019 my “Total Invested” went over £10,000. The downside is that a quick analysis of the downloaded Loan Book at the end of the year shows 16 out of 111 loans suspended, mostly with little chance of any further recovery, with a book value of £1161.71 (out of £9994.69). Analysis of the Accrued Interest shows that these loans also account for £627.28 out of £667.09. But I’m satisfied that the net growth rate is better than I would have got from a bank savings account, which is where my money would have languished otherwise. It helps to be time-rich, so you can speed-read the credit reports and (hopefully) spot the potential duds. I have never been tempted to gof for the black-box accounts.
I read this and wondered what using the 30-day account and re-investing interest would have given over the same time period. I calculate that the 30-day compounded monthly at 4.1% over 68 months would turn £7000 into £8827. Of course a) the 30-day has been higher than 4.1% for some time now (currently 5.1% and b) you seem to have drip fed over 10 months (though you wouldn't necessarily have had to do this with the 30-day account). Your total seems to be (£10,000 - £1161 = £8839) But the point is the outcomes aren't too far apart, and using the 30-day account is a lot less time consuming, and you will usually have full access to all the cash.
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