ton27
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Post by ton27 on Mar 6, 2023 17:31:24 GMT
Don't forget that Assetz Exchange is the very same gang as Assetz Capital. Same company. Same boss, Stuart "Big Shiny Bentley" Law. You may see his cheesy grin here on the Assetz website. Since the day he was born, Stuart Law was told by his parents that whatever he wanted would always become 'The Law'. Therefore, he sees no wrong in treating lenders terribly as and when he wishes, depending on which side of the bed he gets up from on a particular morning. Read the last several reviews from Assetz lenders/investors here. They ALL rate Assetz 1 out of 5 stars! For instance, here is the latest review: "Little more than a bunch of crooks with no thought or consideration for the loyal investors who have helped keep them going over the years! Would not recommend anybody has anything to do with this company." Don't say you weren't warned, when it all ends in tears! I can understand your anger and frustrations with AC but I do have to point out AE is not the same company. We are a stand alone company with a separate FCA registration. Yes, Stuart is AE’s Chairman but he is not employed by the company and is not involved with day to day operation/management. He certainly does not dictate what goes on. There is no other overlap whatsoever. Our recent Trustpilot reviews are all 5*. We are happy to engage with anyone who has a legitimate gripe with us. Ben, thanks for your response but can you advise the shareholding structure of Assetz Exchange and what voting rights does SL have? It is ok to say AE and AC are separate but not the same but if SL has a majority of the voting shares it does not matter if the entities are separate.I will not be investing any significant funds in AE until I understand the influence SL has on its operations - sorry but I do not trust him.
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Post by BenAssetzExchange on Mar 6, 2023 17:46:25 GMT
I can understand your anger and frustrations with AC but I do have to point out AE is not the same company. We are a stand alone company with a separate FCA registration. Yes, Stuart is AE’s Chairman but he is not employed by the company and is not involved with day to day operation/management. He certainly does not dictate what goes on. There is no other overlap whatsoever. Our recent Trustpilot reviews are all 5*. We are happy to engage with anyone who has a legitimate gripe with us. Ben, thanks for your response but can you advise the shareholding structure of Assetz Exchange and what voting rights does SL have? It is ok to say AE and AC are separate but not the same but if SL has a majority of the voting shares it does not matter if the entities are separate.I will not be investing any significant funds in AE until I understand the influence SL has on its operations - sorry but I do not trust him. No shareholder has a majority of the voting rights. Stuart has one vote on a board of 4 people (edited, apologies there are 4 directors, not 5) Happy to have this explained to you in more detail and to answer any questions you may have if you email your contact details to the Helpdesk.
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eeyore
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Post by eeyore on Mar 6, 2023 18:16:51 GMT
Ben, I'd like to add my voice to those thanking you for taking the time to respond - please keep it up!
I'm sure that you're well aware of the consternation caused by AC's recent activities and the distrust it raises for any associated company. However, I do recognise that a discussion of the roles and personalities of those involved is not something that is possible in a public forum. Maybe you, Peter and the rest of your colleagues can give some thought to how to rebuild confidence in AE?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 6, 2023 18:18:41 GMT
Shareholding structure is viewable on CH
1332775 in issue of various classes
Of the 4 directors
Stuart Law holds 402000 (30%)
Peter/Michael Read 400000 (30%) (there is a Martin as well with another 3000 odd so together they have more than Stuart)
Janice Bancroft 98000 (7.5%) - associate of Stuart I suspect
5th director unknown
Assetz Capital hold 100000 (7.5%) - non voting at AGM
One other large holder with over 5%, rest held by multiple individuals & a few corporate (voting)
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Mar 6, 2023 18:31:34 GMT
Ben, I'd like to add my voice to those thanking you for taking the time to respond - please keep it up! I'm sure that you're well aware of the consternation caused by AC's recent activities and the distrust it raises for any associated company. However, I do recognise that a discussion of the roles and personalities of those involved is not something that is possible in a public forum. Maybe you, Peter and the rest of your colleagues can give some thought to how to rebuild confidence in AE? Maybe another chat with financial thing on the tube would be a good idea ?? ps Ben, I'd like to add my voice to those thanking you for taking the time to respond - please keep it up!
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Post by overthehill on Mar 6, 2023 19:35:50 GMT
Ben, I'd like to add my voice to those thanking you for taking the time to respond - please keep it up! I'm sure that you're well aware of the consternation caused by AC's recent activities and the distrust it raises for any associated company. However, I do recognise that a discussion of the roles and personalities of those involved is not something that is possible in a public forum. Maybe you, Peter and the rest of your colleagues can give some thought to how to rebuild confidence in AE?
My 2 pieces of advice are avoid companies like Assetzcapital and avoid this type of P2P investment. Refer back to it in 3 years time.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 6, 2023 20:01:33 GMT
Ben, I'd like to add my voice to those thanking you for taking the time to respond - please keep it up! I'm sure that you're well aware of the consternation caused by AC's recent activities and the distrust it raises for any associated company. However, I do recognise that a discussion of the roles and personalities of those involved is not something that is possible in a public forum. Maybe you, Peter and the rest of your colleagues can give some thought to how to rebuild confidence in AE?
My 2 pieces of advice are avoid companies like Assetzcapital and avoid this type of P2P investment. Refer back to it in 3 years time.
Sorry youll have to define a) what a company like AC is? b) what type of P2P investment we are avoiding?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 7, 2023 22:30:01 GMT
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eeyore
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Post by eeyore on Mar 9, 2023 10:06:00 GMT
OK, in this and the associated detailed review* I couldn't spot anything that, in my limited experience, was incorrect, BUT it comes across as a sales promotion - far too gushing for my tastes and the bit about " we know how to spot a wrong 'un, and these are OK geezers, honest!" just set my teeth on edge. * Many of the comments are hearsay based on private communications.
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Post by BenAssetzExchange on Mar 17, 2023 16:24:35 GMT
For anyone that is interested in learning more about supported living, we are hosting a free online panel discussion with two members of the Learning Disability and Autism Housing Network. We will be joined by the network’s Chair, John Verge (CEO of Golden Lane Housing) and fellow network member Les Warren (Managing Director of Reside with Progress) and there will be an opportunity for investors to submit questions online. Registration for the webinar is free and attendee cameras and microphones will be switched off throughout. More information and registration is available here. |
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tjtl
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Post by tjtl on Mar 27, 2023 12:05:27 GMT
I come to this discussion as anything other than impartial. I have a high five figure sum on the AE platform (shortly to scrape into six figures) and have been an investor for some-time. I was fortunate to be an early investor who benefitted from the relatively easy capital gains on the first investments.
The platform has now changed. It is no longer a platform where you could invest at launch, get paid an underwriting fee, sell half your holding at the launch price (and pocketing the u/w fee), and then sell a further chunk at a premium as non-underwriters piled in pocketing a capital gain.
Following the change in the interest rate environment the price you can sell your investments at have now fallen- on my pretty broad range of investments (I am an investor in 51 properties) the sell price quoted is probably circa 3-5% below the price I paid, and that price is on a very small quantity- the actual discount I would incur would in all likelihood be somewhat more.
This discount is no problem if, like me, I intend to hold for some time- and probably through to maturity of the loans. The yields are strong- averaging across my 51 properties 5.99%, and AE do an excellent job in collecting and distributing rental payments.
For me the real strengths of AE are
1. The clarity and ease of the website- a lot of information, and very user friendly
2. The social nature of the investments
3. The competence of the team in getting the rents collected- and dealing with the issues when they arise
4. The approachability of the management- and the fact that they engage on this site (keep it up)
5. The nature of the leases- inflation adjusted rental receipts
The concerns are
1. We have probably all been burnt by platforms that have failed- so the more the team can do in providing hard numbers that shows the financial health of AE the better
2. The ability to realise investments on sale of properties- that will only come in time
3. The drying up of liquidity as referred to above- it would be good if there was a stats section on the site showing amounts of money on the platform, how it is growing. With some big loans coming on-stream I am concerned that these may struggle to be funded (addressed by generous underwriting and yield I guess) or more likely if you participate at the start you will be locked in for several years- and then exposed to the risk that , on sale, you don’t get your capital back (especially given the “on costs” incurred of stamp duty, AE fee, contingency, expenditure to adapt properties for the occupants).
I think AE is an excellent company- their aims are terrific, the help they are giving to those that need accommodation is tremendous. As a committed funder I would just like to see even more information given on the strength of the platform, and bluntly some more money coming on to the platform.
Apologies for the lengthy post.
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firedog
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Post by firedog on Mar 27, 2023 14:49:37 GMT
I'd absolutely welcome more transparency.
One other, tiny, thing I'd love to see them do is introduce some sort of auto-reinvest. My returns on individual properties don't amount to much and I tend to manually re-invest every month. Would be handy if this could be automated, like dividend reinvestment on sharedealing platforms.
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angrysaveruk
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Post by angrysaveruk on Mar 27, 2023 19:48:09 GMT
Investing in buy to let when we are looking at the most overpriced and unaffordable house prices in history - what could go wrong. Oh and Stuart Law is behind it - count me in.
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Post by bracknellboy on Mar 27, 2023 20:10:50 GMT
Investing in buy to let when we we are looking at the most overpriced and unaffordable house prices in history - what could go wrong. Oh and Stuart Law is behind it - count me in. So if house prices are at their "most unaffordable in history", presumably that means less people able to afford to buy and therefore needing to rent instead, right ? * *I'm not suggesting this is the right time to get in to 'buy to let', simply pointing out the potential contradiction in the reasoning.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 27, 2023 20:18:47 GMT
Investing in buy to let when we we are looking at the most overpriced and unaffordable house prices in history - what could go wrong. Oh and Stuart Law is behind it - count me in. Well they say dont invest in something you dont understand, so on the basis of your largely inaccurate comment, Id say your position is very sensible (allowing for sarcasm) 
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