elliotn
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Post by elliotn on Apr 13, 2020 0:37:42 GMT
jester Ace one reason britishpearl have decided to pull the rug from under us at the worst conceivable time may lay in their 2019 accounts.
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elliotn
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Post by elliotn on Apr 10, 2020 13:55:08 GMT
Is this a new thing or have I been blind all this time You can have a standard portfolio now AND a RoboWise one on a single account. I'm sure it used to ask you to convert your existing portfolio to RoboWise. Tried it out and it does add a new portfolio. Interestingly it seems you can create a bunch of different portfolios with different characteristics. Not tried this yet I think a skin refresh has made it more visible. When I run it you could only choose one portfolio. Also, this was NOT compatible with your self-select portfolio (unless this has been updated) ie your total portfolio would be re-balanced according to the Robowise settings. Benefits are no charges for buying/selling, automatic buying of bonds as they became available and customisable at individual loan level. I really liked it but moved to full manual control once my portfolio was built up, also new loans are automatically added so requires some intervention if you want to partially manage. Edit - I see you mentioned Robo can be set up in addition which is something I requested before, would require managing to avoid doubling up on existing bonds and deciding which portfolio you wanted to buy new loans in, might be a way to get diversification in bonds you didn’t want full holdings in. Edit 2 - FAQ still makes it sound like it will be a single, evenly weighted portfolio so worth checking with WA before activating: Depending on which portfolio you select (either balanced or adventurous) Robowise will calculate your ideal amount per investment based on an even spread of money per investment from the amount you deposit into your account. If you are an existing user who already has a portfolio, the algorithm will use the total value of your current portfolio and un-invested cash to determine the amounts per investment.
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elliotn
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Post by elliotn on Apr 10, 2020 13:42:53 GMT
thank God we won’t have to read about you getting your million back.
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elliotn
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Post by elliotn on Apr 9, 2020 8:50:06 GMT
If I may weigh in on gravity’s post, it is not possible for me to agree more. RS may deny their investors funds for two months and significantly further once the March 16th second wave of peak, panic releases hit. What happens to NHS staff denied access to their small investments by the panicking, queue-blocking rich during an unprecedented health crisis - for which normal market condition T&C evidently no longer apply - and we rely on them for the safety of our family’s lives? I’m one of the lucky ones. I have the majority of my funds out already (earning sh’t-loads in the markets). As a latecomer to the platform run I would like personally to thank alanh . I could not have done it without you.
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elliotn
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Post by elliotn on Apr 8, 2020 3:58:57 GMT
AC are doing the same for both lenders and borrowers and as I keep harping on about. A bit of interest is less important than possible capital. I genuinely pit your love of money and lack of empathy. But then like many wealthy thats what comes with wealth. I am also laughing at your powerlessness to get your money before those with less than you. Some people on here will have lost large sums of money that they can't afford to lose. Retired people who now have to sell their house to make ends meet. Others with years of savings wiped out. Money problems cause mental health issues and in the worse cases people take their own lives because they can no longer cope. With 38000 investors there will be a broad spectrum of all sorts of people. If you want to just sit and laugh at the destruction of other peoples lives its up to you, but you have just revealed exactly the type of person you are People with large sums of money should use the services of a financial adviser. Retired pensioners and those with years of savings should not be investing in a maturity mismatch (based on micro property developers of all things). Those that game promotions and assume they can successfully block the queue by being at the front of it should be the least complaining of all. Instead of waiting nearly a month - and growing, March 16th awaits- on RS, all those that need access to their funds are receiving it on an ongoing basis the same as everybody else. Do you think you would be entitled to take your hundreds of thousands out during a bank run or do you think withdrawals would be imited to ensure all the needy were served in a global pandemic? Those with far less savings would suffer the same mental health problems if the rich were blocking access to their funds during a national emergency.
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elliotn
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Post by elliotn on Apr 6, 2020 11:49:07 GMT
Having set up a withdrawal from my standard 90 day account to arrive on 5th April in my QAA. I was then intending today to withdraw to the cash account for transfer to the 2020/21 ISA in AC. I now find that £2.93 has been transferred to the QAA and I now have to que the withdrawal again to get it into the cash account for the Intended ISA transfer. From my perspective what Assetz have forced me todo is progress an ISA elsewhere so that I can get the years tax benefits (hopefully) and then trickle the Assetz withdrawals back into the savings used to fund the ISA. I.e. they are forcing me / us to withdraw funds from the investments in Assetz through the unfair and short sighted policy of discrimination against medium sized investors in preference of the smaller investor. It would have been simple for them to have provided an account transfer facility (providing it was not actually withdrawn), but none provision of this shows they do not want investors funds. Or even the same percentage withdrawal per investor would have shown fairness. They showed this contempt for current investors previously when they did not allow current investors to participate in the cash back promotion (the one before the latest one) which was a sign of the way they view current investors. Thankfully that resulted in my withdrawing 40k at the time to take advantage of another promotion elsewhere, in hindsight I am now greatfull that Assetz did exclude my participation in that promotion otherwise that £40k plus the promotion top up would now also be blocked at just £2.93 withdrawal every 2 days. I had a similar situation and consider myself very lucky. I run several accounts on AC and move money from one to another to take advantage of these promotions. Just as a chunk of money came out of AC and into my bank account they did the overnight change to the pool and bailout, essentially becoming uninvestable. If that had happened one day later I would have reinvested and now be looking at saying goodbye to a considerably larger chunk of cash than I already am. A close escape...sort of Are all the accounts you manage in your own name? If any are not, do you have the prerequisite power of attorney (for your great escape)? Are you admitting to gaming promotions aimed at bringing in new funds to help grow our platform? ( chris stuartassetzcapital) Do you still have 100s of thousands - or the accounts that you manage - in accounts with the clearest possible maturity mismatch with their underlying assets? After spending my Sunday reading this thread, were I to look in the Corona thread today, will it be full of posts critiquing the working poor for taking up to £2500/month when you are penalised for earning (or having earned) far more and yet you will be the one having to pay the taxes required for the now idle poor?
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elliotn
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Post by elliotn on Apr 5, 2020 10:17:04 GMT
No, it sounds like there's a bug. The team are investigatingYes, it's called Covid-19 apparently. Everybody. I know we’re all poring over our investment minutiae (and contacting firms trying to manage our investments from home). But how did this not get a single like?
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elliotn
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Post by elliotn on Dec 15, 2018 15:52:48 GMT
Thanks for the update Monetus . Verifiable data sets of CC members are a tangible improvement on the recent 6m update. More reg updates on the website very welcome. In general, what was the first indication as to latest valuation levels of the chattels compared to the original loans (presumably now the borrowers have exited their pawn agreements that does not compromise NDA). Also, a fundamental, general point which I haven't been able to clarify. Is data retrieval at a loan/ tranche/lender level irrelevant (and costly) if all borrower and lender client monies are not fully traceable first? If these can't be 100% traced, is a general distribution the only outcome? (This is a general clarification only re distribution of client monies in a recovery, not asking where we are at on this for CUK under NDA ie any undrawn borrower funds not being on the client account as cash, for example.) Everything to do with the specifics of the loan book (including valuation of assets) is covered by the NDA for the protection of investors' interests. In regards to your second point, a similar question touched upon this topic briefly and it was my understanding that no - the administrators don't necessarily need to be able to balance every single penny in order to make a "trust asset" distribution so the recovery of data is indeed valuable. Thanks, that’s v useful on trust distribution (even if the jewels being handed back has made me a bit less keen on my conservative bling/cash/undrawn book!).
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elliotn
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Post by elliotn on Dec 15, 2018 15:21:54 GMT
FPS, used to be once a day, once they’d had their morning coffee. They must have missed the coffee yesterday as I made a withdrawal request just after 10am, expecting it within 2 hours, did not arrive. No worries should come by the end of the day, did not arrive. OK, maybe it will come on Saturday morning, nope hasn't arrived. Slightly concerned, but will wait until Monday morning before going into full panic mode. Definitely do before 9am, I’ve seen quite a bit earlier too, only once a day. Edit - x’d with stardust, earlier the better as they say (y)
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elliotn
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Post by elliotn on Dec 14, 2018 15:59:39 GMT
How long do Lendy take for withdrawals to hit your bank account? Do they use faster payments or 3 working days? FPS, used to be once a day, once they’d had their morning coffee.
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elliotn
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Post by elliotn on Dec 14, 2018 15:46:32 GMT
I was selling the now suspended PBL199.
Will the interest now accrue again or how does this work?
Thanks.
If the loan is in term you will only receive interest for loan parts that are de-listed and not on sale.
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elliotn
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Post by elliotn on Dec 14, 2018 15:12:20 GMT
Proposals? How about an update on the events on 67&68? Email just in. ABL are now joint administrators with B***n*** of S***m***. Good news (I think). Can I check what joint administrators means? (thought that was only insolvency practitioners)
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elliotn
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Post by elliotn on Dec 13, 2018 14:25:35 GMT
If it wasn't such a small amount, I'd be pulling it out at this point and moving it into Ratesetter. Even 5.8% vs 6.5% only requires cash drag of around a month before the gains in the interest rate are wiped out. The ways things are going at the moment it could easily be a month before my money gets matched. I deposited 0.5% p2p today. 2M in front of me, c20 days. Straight back out again.
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elliotn
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Post by elliotn on Dec 13, 2018 5:19:25 GMT
Thanks for the update Monetus . Verifiable data sets of CC members are a tangible improvement on the recent 6m update. More reg updates on the website very welcome. In general, what was the first indication as to latest valuation levels of the chattels compared to the original loans (presumably now the borrowers have exited their pawn agreements that does not compromise NDA). Also, a fundamental, general point which I haven't been able to clarify. Is data retrieval at a loan/ tranche/lender level irrelevant (and costly) if all borrower and lender client monies are not fully traceable first? If these can't be 100% traced, is a general distribution the only outcome? (This is a general clarification only re distribution of client monies in a recovery, not asking where we are at on this for CUK under NDA ie any undrawn borrower funds not being on the client account as cash, for example.)
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elliotn
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Post by elliotn on Dec 12, 2018 15:53:06 GMT
I am contemplating the same - some questions if anyone is willing to comment or PM me 1. I assume that the primary focus of your complaints derives from the register issue, which presumably you relied upon as one of your primary tests for deciding whether to invest? 2. Has anyone mentioned the seeking of financial redress from the FCA, if subsequent losses occur once the administration has finished or is this not appropriate as part of this complaint? I merely ask, in that we can all write our own compositions, but clearly consistency of content would be useful. Will await anyone's opinions/thoughts/comments - Cheers P 1. Yes. The FSA were / are negligent by allowing companies to edit their own entries on the register, without supervision, and that all amendments should be submitted to the FSA for verification; if found to be acceptable, the revised entries would be added to the register by the FSA, not the company. 2. Yes. The FSA have been negligent by allowing this situation to develop, so they should be liable for any shortfall suffered by investors - I specifically detailed the Collateral situation. Small typo - FSA doesn’t exist anymore. 1 - only way for fca to take ownership (has significant resourcing implications ie tax payers’ money) 2 - too right (also tax payers’ money). As a non-tax payer, I can’t get enough of the above!
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