ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on Jun 18, 2021 7:11:55 GMT
They’ve made errors. But no ones lost money with ac. Interest at 3 or 4* BS rates has rolled up nicely, thanks.
Unlike FC who’ve quit, Zopa, whose rates go up and down like a whores drawers, RS who’ve quit and as for LW(rofl) . Those four alone show the difficulty of navigating the Covid years. And when you add in the ones who are now in administration AC fall no where near the bottom of the p2p pile. In fact probably top half, if not top third for the BIGGER players in the game. Of course there’s tiddlers like LP and PL who are better, but among the big boys...
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on Jun 11, 2021 9:04:43 GMT
Well at the simplest level would you rather have £1m from one fund, or £1m from 100,000 retail punters who largely don’t know what they doing or getting into and therefore spend hours on the phone every week? Simples. You avoid the punter.
BUT. You could/can launch differentiated products. The funds can pick their loans, take the risks and get a projected 7%+. In addition you launch a fixed return product like AC and LP and cream off the extra for customer service and profit. So I think they may return to retail. But you NEVER pretend it’s easy, quick or certain access, but rather it’s a 5 year investment.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on Jun 10, 2021 18:32:37 GMT
Im stunned you still bother to read this forum and post. Or does it make you feel all smug and dandy now you’re not in it any longer. Move on to your new bed of roses, perhaps... It is comments like this that make it all worthwhile, hope you feel better now, it is so nice to be told what to do by someone so polite. Oh come on, you wouldn’t spend all this to me on a board in which you have nothing interest unless, what, gloating. Do tell. Why do you bother?
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on Jun 9, 2021 17:29:51 GMT
Leaving aside the schizophrenic appearance of AC's strategy, a fundamental problem for me is that I don't follow their thinking. Their emails are so muddied, so lacking clarity, so nervously talkative that to put it brutally, I don't understand what's going on. This week's email took the equivalent of two sides of A4 to make a simple announcement. (And of course, it prompted a second email with further detail.) At least this was only a fraction of the length of the one a few weeks ago introducing withdrawal fees, or the short novel the month before which said new lending was starting. One in January took nearly 1,000 words to mumble something about the lending fee, introduced in a series of voluminous emails months before, was being reduced; another impenetrable one last August (I think about untradeable loans, but life was too short); the series of indistinct essays introducing a marketplace the same month. It took a thousand words last June just to tell us rates were dropping. By contrast when I read a CrowdProperty update, I understand it. The language is simple and concise and the strategy is consistent. That makes it easier to understand. Same with Loanpad. Their monthly updates haven't always been upbeat, but they've been concise and straightforward. I'm not claiming clear communications is a guarantee of success. Plenty of examples, I'm sure, of the opposite. But I'm left with the impression that if AC can't explain things clearly to me, do they truly understand things themselves? If you think the emails are bad don't try looking at Stuart's Videos, goes on and on giving you all the information about covid and the state of the economy which we all have heard many times before with emotional statements about those affected, it is only at the last 5% that there is some useful information which needs further clarification, all accompanied by music to set the mood. They are a cross between a party political broadcast and a charity appeal except they go on longer.
One of the benefits of being out of AC is I do not have to face the prospect of listing to another one of these.
Im stunned you still bother to read this forum and post. Or does it make you feel all smug and dandy now you’re not in it any longer. Move on to your new bed of roses, perhaps...
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on Jun 5, 2021 14:05:22 GMT
Hmmmmm.
i only have about £14k left in Z and I only invest repayments yet I have over £850 “in the queue” waiting to be loaned out. Cash drag has become a pain. Now stopped reinvestment and withdrawing from holding account for loanpad.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 21, 2021 16:40:51 GMT
Jolly good news. I’ll see how things settle down and then bung ‘em a wedge...
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 21, 2021 8:33:43 GMT
It is logical that without new lending the AA will eventually contain only bad or impaired loans, but I just can’t see AC letting that happen. My spectacles have gone all rose tinted...
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 20, 2021 12:01:01 GMT
Yeah but when the blonde kicks ac in the nuts and walks off with a billionaire they’ll be back. Dream on.
You mean by "kicks ac in the nuts" investors withdraw their own money over a year after asking for it in an Quick Access Account while having the conditions constantly changed.
Of course AC could not pay back everything once the rush for the exit started but they did hold onto a large cash surplus for a long time, far longer than necessary. I for one will not forget this along with the flat rate payments, AC actions of hanging on to my cash meant I could not fully take up investments elsewhere which proved to be very lucrative.
Why would anyone come back, low rates, complicated rules that keep changing, diminishing loan pool with higher % of suspended loans as better ones repay.
The lack of activity on this board is a sign that a lot of people have no interest in AC.
Fool me once shame on you, fool me twice shame on me.
Horses for courses. No need to access money and consistently received my 4% interest (8 times Marcus rate). Very happy and look forward to bunging more in when "normality" is declared. Especially now you can exit at no cost.
I fully appreciate it must have been a nightmare for those who needed their money, or who possess a higher level of morality that thinks a pandemic shoud have no effect on a lender, and that they shouldnt't take all steps to survive and pay out to their investors...
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 20, 2021 8:22:20 GMT
Yeah but when the blonde kicks ac in the nuts and walks off with a billionaire they’ll be back. Meanwhile I do miss those, “loan 42316 paid £2.50” posts
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 20, 2021 8:18:22 GMT
If you want to witness ![>:D](//storage.proboards.com/forum/images/smiley/superangry.png) service in ISA transfers look no further than Hargreaves lansdown. Pathetic! Until there is financial sanction for transfers of cash of over a month the charlatans will continue to hold your money. I requested a simple transfer of £1000 of uninvested cash from my HL ISA to Vanguard. It's been around 6 weeks without hearing anything.
Today I started to receive contract notes from HL to the tune of about £50k. It seems that a communication error has resulted in my entire holding in HL being sold.
HL have blamed Vanguard, and Vanguard are looking into it.
Same here. Definitely HL telling porkies. Penalty of 1% on sum outstanding after 30 days would fix it. That would grease HL’s sclerotic wheels. It’s very clear what they do - put transfer requests to the bottom of the “to do list”. And keep them there cos there’s no penalty.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 17, 2021 17:13:23 GMT
If you want to witness ![>:D](//storage.proboards.com/forum/images/smiley/superangry.png) service in ISA transfers look no further than Hargreaves lansdown. Pathetic! Until there is financial sanction for transfers of cash of over a month the charlatans will continue to hold your money.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 17, 2021 8:22:30 GMT
Hargreaves Lansdown told me on Friday that they have began reaching out to AC to start the transfer process. Will reply back when it is complete! I believe it be quite a few weeks from some posts about HL & AC in the past round here. My experience of hL and ISA transfers is awful. I just wanted to transfer cash from my s&s hL ISA to a cash ISA. 3 months later, many excuses, always blaming the other company nothing happened. Incompetence of a massive scale.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 13, 2021 9:12:52 GMT
Why the hell is this thread still going. Exit available. 0%.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 5, 2021 13:38:00 GMT
Some of it is psychological. It’s 1999 and I’m 20 years old investing 5k a year for the next 22 years. Would I prefer an average 10%pa return with two or three Savage drawdown years of 30%+, or would I prefer a smooth, inflation busting 4% a year. Probably the former so I’d go to the stock market. The same year and I’m 65 years old I’d probably go for the latter option as the former would be bad for my heart, my marriage and my spend pattern. Probably go p2p.
|
|
ashtondav
Member of DD Central
Posts: 1,806
Likes: 1,087
|
Post by ashtondav on May 5, 2021 11:53:47 GMT
Yes indeed but it took several years. Whereas I clocked up a decent 6 or 7% a year with Zopa. And with FTSE100 if you’d spent your dividends your capital would just be breakeven after 22 years. Timing matters a lot in shares.
|
|