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Austen Morris Associates - running after high fees

  • by   Nov 25, 2013
  • 10 comments
  • Review #: 459746
Company Austen Morris Associates
Product / Service Brokerage Service
Category Brokerage and Brokers
Views 329
 

I trusted Austen Morris (Jordan Morley) with my retirement fund.They reduced the fund by 40 per cent through investing in funds that produce large fees.

He invested about 1/3 of my small fund in LM even though there was already evidence that they were bankrupt. Avoid this company at all costs, use a UK based company where you get proper protection. I am looking for compensation-let you know what happens.

The situation with my funds has been described as a car crash by a funds.manager in a reputable company and I.now look forward to poverty for the rest of my life.As Jordan said to him it's openly numbers! 2f20806

 
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Feb 26 
I used an equally useless firm called Holborn Assets based in Dubai. They also advised placing a large amount of money in LMM, through Friends Provident International. None of the fees were properly explained, I never received proper paperwork, no follow up, the number of mistakes and errors and mis-information received from unbelievable. Now left with nothing but massive charges that FPI reckon I owe them for "managing" a fund that has gone bust, was very close to a ponzi scheme and was already in trouble when they were flogging it.
Reply to Anonymous

Feb 19 
I am vastly entertained to see that Geeiliet posts the same response to all the complaints about Austen Morris, surely that advisor cannot be so prolific that he has slept with all the wife's of the complaints on this site. The other thing worth noting is that as soon as a new post arrives people start to pick up on it. In particular if you are in correspondence with AM about a complaint as soon as relevant post is made they refuse to deal with you anymore.. They must have google alerts for new posts as an individual named in a complaint mentioned a new post with hours of it being listed, then amazingly a flurry of unhelpful votes came in, the cynic in me might suggest that Austen Morris staff immediately vote on the site to try to discredit the post. How could I be so cynical. Ten real message is if they aren't regulated don't do business with them. If they have been banned from practicing in the UK it's for a very good reason. You've worked hard for this money make sure you invest with a UK regulated company that offers you protection against bad advice if you can't find them online on the FCA register in the UK don't let them through your door.
Reply to Anonymous

Jan 25 
A joke in the shanghai expat community is circulating now (it is how I heard Austen Morris name first time and now I see this post I finally understand.
The joke : John and Lucas are talking after hours in one of these famous bier bar for expat so famous in shanghai.
John - I'm fed up with my boss, I want him finish like these begs. Any idea Lucas?
Lucas - you see this box in Plexiglass full of biz card close to the barman? Take your boss' biz card and drop it in.
John - that's it?
Lucas - Yea, Austen Morris will cold call him tomorrow.
Reply to Joker

Dec 03, 2013 
Tired of hearing all this whining, you entered into this investment with the knowledge that the investment go down as well as up and there was no guarantee that you will make money. I think you must have signed a risk disclosure form. Unfortunately it did not work out for you this time. But now we have a great new fund platform I suggest you to give that a try, we will stick you in structured notes which I don’t quite understand myself but it makes us a lot of money and has a lot less chance of losing you money. Though it may lock up your capital for 5 years or so, you are a long-term investor anyway, so it shouldn’t really matter. This time we guarantee to do a better job, you can trust us!!
Reply to Greg

Dec 18, 2013  from Tokyo, Tokyo
"Tired of hearing all this whining"

"we will stick you in structured notes which I don’t quite understand myself but it makes us a lot of money"

"This time we guarantee to do a better job, you can trust us!!"

In those 3 lines you have the IFA industry in a nutshell: they don't care, they don't understand, but you can trust them.
Reply to Serenity now

Dec 02, 2013 
At least he didn't invest you in the Porten capital scam, rumor is he lost $1 million for one client in that black hole of an investment.
Reply to Decker

Nov 27, 2013  from Valencia, Comunidad Valenciana
I am lucky enough to have been in financial services for many years and have now retired from the industry. This now allows me to present my views without the fear of retribution against my old company. Ann_Phillipe, the author of all this nonsense is a very upset man because his wife was caught having sexual liaisons with a financial adviser. The actual adviser is a very close friend of mind and still works in China. I am fully aware of the name of the poster and will consider releasing his name unless the comments on this site are kept factual because most of what is on this blog is trash. Please see the below post made earlier this year,


Dave
Aug 17
Hamilton, it's obvious you know who this ann-phillipe is, it's time to name and shame and then all of us will know. A lot of his original post is factually rubbish as well, nice to see AMA in the spot light for a change, sorry guys :)
Reply

Bluegreen
Aug 17
Hamilton please don't release ann_Philippe's real name, this would be entirely unfair on his wife and will cause problems. Not good either if these other IFA companies get his name, you must know that.
Reply

HAMILTON
Aug 14
Here we go again, ann_Philippe bashing the whole financial industry whether it is Manila, China or elsewhere.

Take it out on the Adviser that slept with your wife, not the entire
... Show more
Reply to Geeiliet

Nov 27, 2013  from Shanghai, Shanghai
Sorry for your bad encounter... In my case, Austen Morris Associates had to select 12 shares among 190, guess what? my best share performed 88th. Incompetence? no. Random selection? no. Actually theses low life selects funds that get them sort of "backdoor commission".

But will you be surprised if I tell you that their new head *** man, William Coppin who was found guilty of securities fraud in the UK, having been banned for life from the industry, has found a home with the unregulated Austen Morris Associates? Your money is controlled by these type of people.

For further information Google "William Coppin", and all of the relevant information is there.
Reply to JF Logan

Nov 26, 2013 
Thanks for posting this I was about to have a meeting with Austen morris, I have done a bit of digging on the company and they are completely unregulated and you have no protection as an investor against their poor advice. Austen Morris appear to have a great frontage but get under the bonnet and they have employed advisers that have been struck off by the regulator in the UK. Always work through a UK regulator adviser then you have some protection. Just because the money is invested via a UK insurance company it doesn't mean you have any protection at all. I have trawled the Internet and the news isn't good, Austen Morris business code of conduct and other documents on their website claiming to be an example of their code of ethics say nothing they don't protect you the investor at all.
Reply to UK regulated individual

Dec 18, 2013  from Shanghai, Shanghai
yes... exactly... I met one of their advisor recently, and checked them a bit around, does not inspire trust at all.
Reply to new investor
 

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