Utmost Worldwide Reviews

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New Reviewer

Cheated

Extremely unhappy with them, my investment of almost 80K is now worth a little over 50K due to fund bad performance with no support from financial advisor and on top of this they tell me that the surrender value will be little over 34K after deducting their extremely high fees! Don´t invest with them there is no way you can benefit in any way even if the funds perform well because of their non transparent fees.

User's recommendation: Keep away.

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ID
#2829916 Review #2829916 is a subjective opinion of poster.
Location
Málaga, Andalusia
Loss
$50000
Preferred solution
Full refund
New Reviewer

They stole my US$30,000 and I don't understand how.

They don't explain to you all their charges. I got no interest at all. I had a deposit of US$60,000, I took half and expected to get the rest when the period expired then I was told my account is on zero as they have been taking their fees etc. The least I expected was to get my minimum deposited back. I feel so cheated. US$30,000 is not money you just pick by signing shady forms.

User's recommendation: Please do not ever put your hard earned savings in such.

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ID
#2812401 Review #2812401 is a subjective opinion of poster.
Location
Nairobi, Nairobi Province
Loss
$30
Preferred solution
Full refund

Corporate Theft

Utmost took $26,000 USD in management fees over 10 years from an account that initially held $28,000. They are returning $2000 to my wife next month. Utmost isn't an investment company, they are simply thieves.

User's recommendation: don't walk, but rather run from these grifters.

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1 comment
#2053481

I got zero back from US$30,000. These are simply thieves!

ID
#2436188 Review #2436188 is a subjective opinion of poster.
Location
Tel Aviv-Yafo, Tel Aviv District
Loss
$26
Preferred solution
Full refund

Customer experience

Utmost, and it's predecessor, Generali, charge undisclosed or poorly disclosed fees, which in any case are high for the "service" provided.

User's recommendation: There are far better options available to you.

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ID
#2432859 Review #2432859 is a subjective opinion of poster.
Cons
  • Lack of transparency
  • Relatively high fees

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

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New Reviewer

Poor service

I have been trying to reclaim funds from this dreadful company for many months and am forever being fobbed off.

User's recommendation: Don't touch them.

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ID
#2402333 Review #2402333 is a subjective opinion of poster.
Cons
  • Absolute rubbish
Preferred solution
Full refund
New Reviewer

Warning to others

Update by user Feb 26, 2021

Utmost made contact and explained the exact process they had used to work out how much they could fleeced me for and blamed it all on the financial advisor. Clearly the product is designed to give a large upfront payment the financial advisor, effectively paying them off for offering a seriously flawed product.

Like a car company flogging an unsafe car and then blaming the dealer. They still offer this terrible product to the unwary, so why would you trust anything else they have on offer.Steer well clear and drop any financial advisor that recommends any of their products like a stone.

Original review posted by user Jan 26, 2021
Don't touch them or any financial Advisor who recommends them. Terrible investment vehicle. The Vision policy is inflexible with monstrous charges. I converted to a paid up policy due to a change in circumstances, and they are now taking 10% of my investment in charges every year. Cashing in means having to pay the total charges to the end of the policy term on the payment that I would have made had I continued to invest in "administration" charges. Even if I had continued to pay in the charges would have amounted to 3.5 % per year, which is massive.

User's recommendation: Don't touch them or any Financial Advisor who recommends them.

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ID
#2396006 Review #2396006 is a subjective opinion of poster.
Cons
  • Usurious charges
  • Dreadful investment plans
  • Scam for expats
Loss
$60000
Preferred solution
Let the company propose a solution

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
New Reviewer

STAY AWAY- SCAM

Horrible idea to invest with them, Use to be Generali Worldwide, now Utmost, but they sell the same scam: VISION PLAN Very unethical people, charges are awful, if you want to lose all your investment, chose them :) Tried to contact their ombudsman in Guernsey I would pretty much bet on the fact that they are paid by these guys. I don't understand why financial regulations haven't acted yet to prevent people to be screwed!

User's recommendation: STAY AWAY.

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ID
#2120481 Review #2120481 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Cons
  • Avoid at all costs
  • Scam for expats
Loss
$10000
Preferred solution
Full refund
New Reviewer

Avoid Utmost Worldwide (was Generali) like the plague!

I invested $30,000 in a Generali Vision Plan in 2001 whilst living at the time in Dubai. Now some 18 years later and having just closed the plan, I received just less than $36,000. This represents a compound interest of less than 1.0% p.a.! I would have been far better off investing in a very simple and hassle free bank savings scheme with a guaranteed interest, The reason for such a poor performance can be summarised as: 1) The high initial charges including the high commission received right at the start by the 'so called' IFA. Hence the IFA had no interest in providing, as committed to, further investment advice throughout the term of the plan. 2) Ongoing charges throughout the term of the plan and then further charges, just to add insult to injury, when cashing in the policy. 3) These charges were never clearly laid out to me by the IFA at the time, as required now by law, and neither did he inform me that he had committed me to a 10 year plan. I was never independently informed by Generali, in any sort of document, that I had signed up to this 10 year Plan. I was not informed that I was required to make regular payments throughout the term of the Plan, on top of my initial $30K. The absence by me of these regular payments resulted in additional charges. Could be Generali are hoping to avoid the dreadful reputation they have acquired by changing the name to Utmost Wealth Solutions (Utmost Worldwide Ltd).
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2 comments
#1981331

The plan and the agent selling the plans lack full disclosure.

#1875639

Very true.. it's big bunch of crooks

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ID
#1675498 Review #1675498 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Pros
  • Sleek marketing
Cons
  • Dreadful investment plans
Reason of review
Dreadful investment plan
Loss
$10
Preferred solution
Compensation

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