I have been trying to get this investment management company to give me my money out since February. Has anyone else had bad experience with Abrdn or other similar investment management companies? Any good ideas on how to work around the unanswered emails and consistently broken promises when I finally manage to speak to some one on the phone?
Give then 10 working day to place your money into your account and then if they don’t, refer them to the FOS
I don’t know the laws there but most financial institutions don’t do financial transactions via email. It’s too insecure a medium. At best, they can send you blank forms via email but that’s it.
I don’t have any direct experience with the company you mention in the OP. I looked it up. Just a super quick glance at the headings doesn’t look great but I didn’t check the dates.
Thanks for both contributions.
It has taken me all morning to find an address at Abrdn to log a formal complaint. There are no links on their web site. It was only when I did a Google search “Abrdn Complaints” that I found a link to their complaints procedures with address / email to use. The Financial Ombudsman is very clear that a direct complaint to the problem company must be the first step.
It is interesting how different finance companies vary in their acceptance of emails and electronic communication. I’ve been sorting out various pensions and savings over the last few months. Some of these finance businesses have good security worked out and are very happy, even prefer, to use emails. The security is password protected documents - one had a simple guide to give the password without sharing the password in writing. Everything was shared, including personal finance documents and confirmation of who I was, on email and the pension set up in a few weeks.
Others are very much reliant on post, which I’m not convinced is as reliable or even that secure. These businesses have a fear of email security but no processes to improve that security. Dismal and backward looking - and definitely slow down the process.
Anyway, formal complaint has been sent so we will wait and see.