Avoid

1.2
Very hard and dishonest sell by Bilal Mughal with inappropriate facts being given , on me being able to retransfer my funds to ISA if I returned to UK (so far I have not been able to do so and financial advice is totally wrong) .He has since moved on from PWS The commissions on these QROPS are massive Please be aware there is zero financial regulation in Dubai that is why these companies operate there. Also ignore their threats .They cannot sue you for defamation of character

User's recommendation: Avoid like the plague.

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#2243009 Review #2243009 is a subjective opinion of poster.
Location
Lanark, Scotland

Prestige Wealth Solutions is the worse place to work ever

• Never paid on time or money withheld from employees • 7 months no visa. Most people working still don’t have a visa despite asking daily • Forced to work until up to 10 pm at night by manager af abbas or he threatens your job with no notice in advanced and no reason also force to work the whole weekend • The tiny monthly income you do get paid goes on to a debt and any commission earn pays off that debt • No training or support • Constant lies • Worst place I have ever worked filled with racism and constant abusive comments towards all different members of staff • Teach people to *** and trick people into getting leads to contact and lie to people they do contact and try to scare them.
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5 comments
#1389434

A PWS adviser did take a guy in the UAE and transfer his pension to a good NZ QROP. The adviser took a 10% initial fee.

That (10%) is not a typo! When Malta announced it would adopt flexible drawdown the same adviser used that as an excuse to transfer the QROP to Malta, placing the asset in a full commission bond, while packing the portfolio with commission-paying funds and structured notes. Bond = 7% minimum, funds 4%+, notes 4% - 9% initial commission - all with exit penalties for the next few years. The original pension CETV was in excess of £1.2M.

The adviser would have been well aware of the fact that NZ was in the process of being authorised by HMRC to offer Flexible Drawdown. If the adviser was not aware then the PWS compliance dept (Lol) would have been.

Conservatively, the client has paid fees of £240k to these characters. This case will end in tears but the adviser will be long gone.

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0 0
#1314456

If you have a story to tell or information of a financial scam drop us an email contact@global-financial-news.com and we will gladly look into it for you and put these crooks straight. We are a straight talking website to help the public voice the truth!

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2 0
#1197583

Obviously the guy below is PWS managment.

Anyway there is training every week but that is to brainwash you to their thinking and ways, not going to lie though some of the stuff said makes sense.

I have never witnessed any racism

"The tiny monthly income you do get paid goes on to a debt and any commission earn pays off that debt" this is 100% true

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0 0
#1197521

I have worked for PWS for over 18 months and I can categorically tell you that all of the above is an absolute lie. I have had constant training every week.

There is no racism in the office what so ever.

This is obviously from someone who could not fulfill the role and was just upset at being let go due to lack of business or work ethic.

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0 3
#1196590

I agree with the above, as an ex employee of these guys this is true although we weren't made to work weekends (well I wasn't).

6000AED paid by PWS is a retainer to be paid back from any commission

3000AED paid by advisor is yours to keep

Both was always late

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#889421 Review #889421 is a subjective opinion of poster.
New Reviewer

Would not confirm which SCA licence

I received a call from them. When I asked who was the regulator, I was informed that they are fully licencsed by ESCRA, I think he meant SCA. I asked what licence he had, he said he does not know and it has nothing to do with him, that would be a compliance issue. I asked his name and he used the name "Joe". I said I have the SCA site open and I am unable to find his company. That is when he hung up. This was a very strange move for a company trying to get my business. The DED does not regulate Financial Services, SCA does.
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#622732 Review #622732 is a subjective opinion of poster.
Location
Dubai, Dubai
Prestige Wealth Solutions's reply to:

Review from Dubai, Dubai

As a company we do not have any client by the name of "Joey Hughes" or anything that resembles this name. Baseless accusations and complete lack/ information of fact are tell tale signs of this being a illegitimate posting.

With this in mind we can only assume this is a further attempt by a competitor to discredit our company with false postings.

It is unfortunate that some so-called professional companies take to sites like these to spread malicious rumors. Little do these highly unprofessional and commercially challenged individuals realise is that they damage the entire industry (including themselves), which on the whole is extremely professional.

We have a very clear complaints procedure which is documented at each stage, so any legitimate claim can be responded to and resolved in a satisfactory manner.
author's review
ID
#595459 Review #595459 is a subjective opinion of poster.
Reason of review
Problems with payment

PWS advised me to pay into a fund and switch into another after a year and a half. Subsequent meetings with other IFA's have alerted me to the fact that this advise was purely based on their desire to earn double commissions and hence my charge has doubled. Craig McConnon and Alex Herbert are best left well alone.

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Prestige Wealth Solutions's reply to:

Prestige Wealth Solutions Pay to Cover Up the truth about their scammed - read all the complaints

This slanderous article is a poor attempt to discredit a professional organization.

In response to these factually incorrect and ridiculous claims;

1. PWS are registered with Dubai Department of Economic Development under registration code 687697 eradicating any such claim that PWS are a company that doesn’t exist!! Not only does this highlight the lack of intellect or ability to establish facts of the blogger but more so the credibility of the claims. PWS upon request would be more than happy to produce the supporting documents to confirm this.

2. Craig McConnon, Alex Herbert nor PWS itself have ever been subject to any legal proceedings in the UAE or any other country. Furthermore, Dubai Regulatory Authorities have never issued a letter regarding complaints, miss-selling or unregulated activity with their names on.

3. Alex Herbert is not a Director of the mentioned company.

4. The style in which this article is written with the persistent use of the words “scam” and “conned”, which are repeatedly used out of context and after the names of the (wrongly) accused, is a clear attempt to forcefully produce a key word to maximize this article appearing as a result on search engines through SEO (Search Engine Optimization).

It is an unfortunate fact that some companies use this site and ones alike in attempt to discredit individuals (normally ex-employees) and rival companies.

Since PWS was established, Craig, Alex and the company have been victims of several anonymous attacks. It is also interesting to know the timing of these online attacks have coincided with the recruitment of staff from rival companies in the Middle East.

PWS are a professional and highly regarded company specializing in offering financial advice to expatriates around the globe. PWS are regulated and licensed in multiple jurisdictions and we take pride in providing market leading advice to our clients through our partnerships with some the most respected and highly regulated companies in the world.
author's review
ID
#538851 Review #538851 is a subjective opinion of poster.
Reason of review
Poor customer service

As an ex female employee of PWS - Prestige Wealth Solutions from January 2014 to April 2014 all I have to say to a prospective employee (or potential client) is DO NOT WORK FOR THEM EVER!! They are liars, cheats, bullies, sexist and vile *** bags.

I have had to return to the UK after spending all my savings and getting into massive debt after I (and others) stupidly fell for the dream they sold me. At the group interview held by PWS - Prestige Wealth Solutions in a hotel by Heathrow Airport hosted by Craig McConnon, Jamie Scott, Alex Herbert and Afzaal Abbas (aka Joe, Af or fondly known by the other guys in the office as Hitler) was promised a proper salary and rent contributions as well as flight home, visa and medical insurance and I was also told I would be earning approx £40K - £50K within my first year and that I would only need £2000 to start up there whilst everything was being processed. I had researched everything as I had heard the all the horror stories about DeVere and GlobalEye pay structures but they promised to be something different, oh how wrong I was.

Regardless of what the contract actually says (see this on the links above) this is worth nothing as at PWS - Prestige Wealth Solutions they do not follow this in fact PWS - Prestige Wealth Solutions don't pay you a salary they loan you 6K AED and when you finally get advisor they give you 3K AED from that you are in debt 6K every month till you earn something which is impossible if you are new to the country with no connections like I was.

I got no help when I was there even when I asked and when I had to move apartment several times no one helped from PWS - Prestige Wealth Solutions helped me to find a place like they said they would. PWS - Prestige Wealth Solutions always paid my wages late and to this date they still owe me money for the things they promised, they made you stay late sometimes till 9pm with no notice, they forced you to go to company events, as a female in that place I was always mocked for what I wore, my makeup and hair also I was ignored and left out of conversations and they always moved my desk for no reason.

The way PWS - Prestige Wealth Solutions get data is a joke as well, they call companies pretending to be from the Expo2020, Event companies or British Embassy to try and trick the receptionist into giving British names and numbers. PWS - Prestige Wealth Solutions used to promise the under paid staff at stores like DU, Etisalat and laundries jobs in exchange for data, pay recruiters, estate agents and gyms for data as well basically anywhere English ex pats would go they would hustle and bribe their way in. My advice would be not to give your mobile number to any of these places and if you do just by an alternative sim and then watch the calls come in.

PWS - Prestige Wealth Solutions is basically a boiler room, hit them hard and fast to get their money before they realise what's happened and it's all under the guise of 'helping people'.

PWS - Prestige Wealth Solutions have no license even though they claim too, they rent an office along with all the equipment, no one has a visa (some as long as 6+ months) with the only people having visas are those closest to Craig McConnon (MD). If it was to all go *** up they could easily cut and run leaving everyone high and dry.

When PWS - Prestige Wealth Solutions opened their new office at The Oberoi Centre (Office 901) in Business Bay there was no license so they were not legally allowed to trade but that did not stop them and when there was an inspection we all had to leave the office but instead of going home they made us stay in an office in the other building to get their monies worth, I bet now they are still doing it.

Also this mob are so paranoid they read ALL the staff’s E-Mail both in and out and do not allow you to change the passwords on your PC so that they can go through them when you are not in the office, they also read your personal E-Mail if logged in and also have keyloggers on the PC’s to read what you put.

The advisors there do not have licenses although some claim to have UK qualifications.

Also PWS - Prestige Wealth Solutions have now opened an office in Qatar (where they said I could go as well but lied about that too), Cape Town and Johannesburg again all with no licences or backdoor ways in.

All I can say is that I wouldn't meet or trust these cowboys with anything and I am glad I am back in the UK away from these *** bags!

I warn anyone that is offered a job with them DO NOT TAKE IT or anyone thinking about doing business with them DON'T!!

You may think I am being out of order, bitter, vindictive or just lying about this but I can tell you now I am not, the reason I did this is because they screwed with me personally and financially and although the rest of these blogs you read may (as they claim to people that have see them) have been written by other brokers this is a genuine blog that has been backed up with images and contracts that they will no doubt try and get removed so that nobody reads this or tell you that I was *** at my job or some other rubbish to focus you away from this. Trust me, trust your gut, ask your pension provider.

See more on my blog at ***

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Prestige Wealth Solutions's reply to:

Disgusting Tactics!!

This slanderous article is a poor attempt to discredit a professional organization.

In response to these factually incorrect and ridiculous claims;

1. PWS are registered with Dubai Department of Economic Development under registration code 687697 eradicating any such claim that PWS are a company that doesn’t exist!! Not only does this highlight the lack of intellect or ability to establish facts of the blogger but more so the credibility of the claims. PWS upon request would be more than happy to produce the supporting documents to confirm this.

2. Craig McConnon, Alex Herbert nor PWS itself have ever been subject to any legal proceedings in the UAE or any other country. Furthermore, Dubai Regulatory Authorities have never issued a letter regarding complaints, miss-selling or unregulated activity with their names on.

3. Alex Herbert is not a Director of the mentioned company.

4. The style in which this article is written with the persistent use of the words “scam” and “conned”, which are repeatedly used out of context and after the names of the (wrongly) accused, is a clear attempt to forcefully produce a key word to maximize this article appearing as a result on search engines through SEO (Search Engine Optimization).

It is an unfortunate fact that some companies use this site and ones alike in attempt to discredit individuals (normally ex-employees) and rival companies.

Since PWS was established, Craig, Alex and the company have been victims of several anonymous attacks. It is also interesting to know the timing of these online attacks have coincided with the recruitment of staff from rival companies in the Middle East.

PWS are a professional and highly regarded company specializing in offering financial advice to expatriates around the globe. PWS are regulated and licensed in multiple jurisdictions and we take pride in providing market leading advice to our clients through our partnerships with some the most respected and highly regulated companies in the world.
author's review
ID
#532681 Review #532681 is a subjective opinion of poster.
New Reviewer
Prestige Wealth Solutions - Disgusting Tactics!!

I work for BAE and have encountered these guys and their 'selling techniques' and I have to say that they do not leave you alone!

I made the mistake of speaking to one of their guys on the phone and telling him that I had a 20yr pension but I did not want to do anything with it just yet as I wanted to speak to my wife.

They then constantly called my mobile, my office and also sent me emails to try and speak to me even though I told them I wanted to think about it.

A few days ago I was in my office and had the switchboard call me and informed me that one of their guys was in the office looking to speak to me as he was there seeing someone else so thought he would see me too!!!! Naturally I declined.

I have since spoken to a few of my friends that work here and they told me that they tried the same with them.

We will now be spreading the word around the company about PWS and telling the switchboard to block all calls.

Upon further researching I found this site and it has confirmed my fears about this company and that how the advisors and management are supposedly *** men and scam artists that operate an unregulated company that is basically a boiler room scam.

I also located this PDF that makes for a good read as well.

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Prestige Wealth Solutions's reply to:

Prestige Wealth Solutions Dubai aka Continental - Stole my pension

The suggestion that we are any of the above has been confirmed by our lawyers (AC&H http://www.ach-legal.com/index.html) as a criminal act under the UAE Penal Code. It refers to Defamation and the spreading of false information with the aim of damaging someone’s reputation and causing them material and financial loss. It is therefore no surprise that this blogger remains anonymous with the attempt at protecting themselves for spreading slanderous lies.
PWS, its investors and neither of the mentioned persons have ever had any involvement with or recommended carbon credits to clients or prospective clients.
PWS have direct terms of business with a number of the world’s leading financial institutions in order to provide regulated solutions and market leading advice their clients.
PWS are regulated in multiple jurisdictions employing qualified advisors who are trained to a high standard.
Since PWS was established, Craig, Alex and the company have been victims of several anonymous attacks. It is also interesting to know the timing of these online attacks have coincided with the recruitment of staff from rival companies in the Middle East.
PWS are a professional and highly regarded company specializing in offering financial advice to expatriates around the globe. PWS are regulated and licensed in multiple jurisdictions and we take pride in providing market leading advice to our clients through our partnerships with some the most respected and highly regulated companies in the world.
author's review
ID
#477830 Review #477830 is a subjective opinion of poster.
Loss
$18000
New Reviewer

Alex Herbert and Craig McConnon are linked to the below and their new venture has been funded by the below. Unregulated Thieves!

I will bring this company to justice! Pay me my money back. 18 months and I can have my money........ such lies!

http://rebeleconomy.com/dubai/the-middle-easts-latest-scam-carbon-credits/

They are unregulated, unqualified and using another company to put their business through as they cannot do it themselves.

How can a company operate in Dubai with such a bad reputation?

Is there anybody that can help as I do not know where to turn now!

YOU STOLE MY PENSION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I hope you can justify this to your own family!

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4 comments
#834945

Everything you hear is true, they do not have a licence anywhere they trade and they piggyback off other companies to get around this.

Scam stay away!!!

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5 0
#792531

This is easy. Go to a Dubai police station and file a complaint against the proprietor.

If this is mr mcconnon give his name and the details of the product they gave you (this must also be regulated.

If him and any advisor working for him doesn't have a license from the insurance authority the will be arrested and must give you all your money back as outlined in the 2011 Clyde and co article on this topic. This explains everything including the illegality of piggybacking on a license.

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3 0
#814270
@PissedConsumer792531

Thank you for your advice Clyde. I will let you know how I get on.

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3 0
#832719
@PissedConsumer814270

RL360, Skandia and standard life are not licensed in the UAE or Qatar. As non admitted insurers any contracts made with these companies can be voided. File a police report on them and this bunch of unlicensed crooks!

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Prestige Wealth Solutions's reply to:

Alex Herbert, Craig McConnon fraudsters of Prestige Wealth Solutions Dubai commit fraud and scams

This slanderous article is a poor attempt to discredit a professional organization.
In response to these factually incorrect and ridiculous claims;
1. PWS are registered with Dubai Department of Economic Development under registration code 687697 eradicating any such claim that PWS are a company that doesn’t exist!! Not only does this highlight the lack of intellect or ability to establish facts of the blogger but more so the credibility of the claims. PWS upon request would be more than happy to produce the supporting documents to confirm this.
2. Craig McConnon, Alex Herbert nor PWS itself have ever been subject to any legal proceedings in the UAE or any other country. Furthermore, Dubai Regulatory Authorities have never issued a letter regarding complaints, miss-selling or unregulated activity with their names on.
3. Alex Herbert is not a Director of the mentioned company.
4. The style in which this article is written with the persistent use of the words “scam” and “conned”, which are repeatedly used out of context and after the names of the (wrongly) accused, is a clear attempt to forcefully produce a key word to maximize this article appearing as a result on search engines through SEO (Search Engine Optimization).
It is an unfortunate fact that some companies use this site and ones alike in attempt to discredit individuals (normally ex-employees) and rival companies.
Since PWS was established, Craig, Alex and the company have been victims of several anonymous attacks. It is also interesting to know the timing of these online attacks have coincided with the recruitment of staff from rival companies in the Middle East.
PWS are a professional and highly regarded company specializing in offering financial advice to expatriates around the globe. PWS are regulated and licensed in multiple jurisdictions and we take pride in providing market leading advice to our clients through our partnerships with some the most respected and highly regulated companies in the world.
author's review
ID
#476714 Review #476714 is a subjective opinion of poster.
Loss
$46000
New Reviewer

Alex Herbert Prestige Wealth Solutions Scam and Craig McConnon Prestige Wealth Solutions Scam are continuing to commit fraud and continue to scam innocent people out of their hard earned cash.

The Alex Herbert Scam is the same as Craig McConnon Scam in that they operate under a company name that actually doesn’t exist and have been reported to the authorities by over 40 people who have already been ripped off.

They are charmers but they have lied through their teeth to me since I invested my virtually my whole life savings and have scammed me, conned me, cheated me - just choose one that you feel is appropriate.

I only found out about them when I read an article issued by the Dubai regulatory authorities informing people they have no licence to operate in the UAE and that legal proceedings have commenced against them. I am such a fool but these people must not be allowed to get away with it.

Alex Herbert and Craig McConnon are Directors of Prestige Wealth Solutions Dubai UAE and must be avoided at all costs unless you are ready to lose your money and be scammed by these fraudsters. Please don’t get taken in by them.

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6 comments
#814268

I have also encountered these *** men. I was advised to invest my pension into a property fund which has now subsequently gone bust.

I am currently perusing legal advice as the loss could be over GBP 100k.

If you have any brains, you will stay well clear of these people. I only wish I had done my home work.

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5 0
#808834

These are *** men - they lie about everything. The aren't advisers and lie, cheat and steal from anyone they can find. Prestige wealth solutions are a classic boiler room scam...

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2 0
#790205

Animal!

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2 0
#790203

How can this man sleep!

Reply
2 0
#790143

They have been doing this for years and using another company to put their business through. Sorry to say this, but you should have done your research and used a licensed company. These people wont be around for long!

Reply
2 0
#787607

I told you at our last meeting Alex I want my money back. You haven't even the courtesy to respond to my solicitor.

I won't rest till I do.

Karen x

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Prestige Wealth Solutions's reply to:

PWS - Scammed by Alex Herbert in Dubai

This slanderous article is a poor attempt to discredit a professional organization.
In response to these factually incorrect and ridiculous claims;
1. PWS are registered with Dubai Department of Economic Development under registration code 687697 eradicating any such claim that PWS are a company that doesn’t exist!! Not only does this highlight the lack of intellect or ability to establish facts of the blogger but more so the credibility of the claims. PWS upon request would be more than happy to produce the supporting documents to confirm this.
2. Craig McConnon, Alex Herbert nor PWS itself have ever been subject to any legal proceedings in the UAE or any other country. Furthermore, Dubai Regulatory Authorities have never issued a letter regarding complaints, miss-selling or unregulated activity with their names on.
3. Alex Herbert is not a Director of the mentioned company.
4. The style in which this article is written with the persistent use of the words “scam” and “conned”, which are repeatedly used out of context and after the names of the (wrongly) accused, is a clear attempt to forcefully produce a key word to maximize this article appearing as a result on search engines through SEO (Search Engine Optimization).
It is an unfortunate fact that some companies use this site and ones alike in attempt to discredit individuals (normally ex-employees) and rival companies.
Since PWS was established, Craig, Alex and the company have been victims of several anonymous attacks. It is also interesting to know the timing of these online attacks have coincided with the recruitment of staff from rival companies in the Middle East.
PWS are a professional and highly regarded company specializing in offering financial advice to expatriates around the globe. PWS are regulated and licensed in multiple jurisdictions and we take pride in providing market leading advice to our clients through our partnerships with some the most respected and highly regulated companies in the world.
author's review
ID
#459791 Review #459791 is a subjective opinion of poster.
New Reviewer

Alex Herbert approached me via a charming lady called J in Dubai and within a week I had met a Alex. Then basically scared me into starting a 25 year savings plan! I told him that I felt uncomfortable in doing this as I only had a 3 year contract but he said that I would be able to get my money out of the the 25 year plan whenever I returned to the Uk???? Upon 3 years being up, I asked Alex where my money was and he said he would sort it out. I then contacted the company where I was paying my money and they said it had been all lost!

Since the above I have found out that Alex went to Spain and was thrown out of there for giving wrong advice and now he is back in Dubai giving advice unregulated through PWS in the other MENA countries.

Please be careful when meeting him as he is not allowed to do business as he is banned! Just like the company he is working for, PWS has no licence anywhere. Just ask for it and see what is produced. I bet it is a forged document!

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20 comments
#852706

I laugh at the misfortune of idiots who give their money to complete strangers to manage, unless they come highly recommended from friends/relatives you know, stay away

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1 0
#852702

Alex Herbert snorts sherbet, and shagged my hamster

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3 0
#839133

Now each of you seems to be talking about the licensing issue, what I want to know is, have the company stolen anybodies money?

I know these companies are usually intermediaries so no cash is supposed to pass through hands of advisers, did they take cash?

Are we talking about bad investment advise from these advisers or a monetary scam?

Are we saying we would be happy to do business with them if the company was licensed?

Which is which?

Reply
1 5
#786220

These cowboys arent licensed ANYWHERE! Get real poeple.....if they were they would show it on their website!

This is a classic boiler room;smash the phones; promise the world; sell unregulated insurance products from firms that dont exist in the countries the operate in and walk away with sack loads of commission.

I heard one joker took 28% of somones pension via a RL 360 QROP.

The rest was suspended in a rotton fund.

The best way to deal with these criminals in the middle East is to get down the police station and put in a report that includes the name of the salesman, the insurance companies involved and the documents they provided.

This way they get caught at customs and will get their day in court!!!

Reply
2 0
#790147
@PissedConsumer786220

Totally agree! It is companies like this that bring down the reputation of the industry!

Reply
3 1
#772264

seriously all, you need to get your facts right because yes they are regulated, i am a client and i can tell you after living here for a long time and having met so many so called advisers, at last i met somebody from PWS with 20 years experience who gave me the best qualified advice and i am a very happy client.

Reply
0 2
#748067

I work for Nokia in Dubai and yes I was lied to by this man. It cost me 45K usd!!!!!!!!!!!!!!!!! Thanks Mr herbert, that was the inheritance from my mother.

Reply
2 0
#747775

Interesting reading. I work in the industry and I know that they are conducting illegal business in Dubai, Qatar, Kuwait and Saudi.

It looks like it will be matter of time before they get caught! If you are thinking of working for them, please rethink your decision before you are put in jail!

Reply
2 0
#747563

I used to work for one of the product providers and that is why he had to leave Dubai! People like him give the industry a really bad name.

Do your home work!

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2 0
#747558

do they not have any regulations to stop people like this?

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1 0
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