“I have to agree with others. Financial Adviser Michael Fleming from FSN set up a QROPS scheme. Momentum did nothing to stop a clearly horrendous rip-off scheme that cost me 22.3% in fees and charges. I lost many thousands.”
“Zero stars ...
I managed to get out (3 months of chasing, calls, emails ) after I discovered what a useless job they did and the high charges that were eating away at the capital invested.
Charges were over the 5 years 2017 - 2022) in excess of 15 thousand pounds. The investment grew on average with 2% per year after deductions for Momentums services AND the charges from the bank where the investment was placed ( by momentum). £3000/year charges, what can I say .... run away from AES, and Momentum you'll save yourself an uncomfortable ulcer....”
“In July 2020 the Maltese Arbiter ruled that Momentum Pensions had failed in their duties by accepting fake dealing instructions from unlicensed and unregulated advisers which lost me the majority of my pension. After they appealed in the Maltese courts, they then went onto lose their appeal on not just mine but over 50 similar cases. All of us are still waiting for our awarded compensation to be paid.”
“I think it about time that all of those that have been scammed, lost a fortune with this bunch of amateurs, that we all get together and expose this Company not only all over Google but I am of the opinion that Radio and the Martin Lewis Show " Money matters " on ITV, be involved to expose the fraudsters that claim to be Financial Advisors, make sure that they cannot sleep at night knowing just how much damage they have done not only to individuals but also Families that have fallen victim to Momentum Pensions.
DO NOT UNDER ANY CIRCUMSTANCES USE THIS COMPANY OR EVEN IPENSIONS AS THEY CLAIM TO BE THE UK SUBSIDERY OF MOMENTUM PENSIONS BASED IN SALE CHESHIRE.”
“I lost over 20K from my pension pot in 7 years with these people. no explanation why they were performing so badly, kept taking the 500+ pounds anual charge. Get a good advisor if you want to extract yourself - not made easy.”
“all the comments here are relevant the only time they contacted me as trustees was when they realised I was leaving then 5hey secretly contacted me to give me a fa who would make me a fortune. Stewart is the most untrustworthy and makes threats . He is a bully and should be disbarred as a trustee. Also hmrc shouldn't imply they condone these crooks.”
“Momentum owe me £10k for miss management of my pension funds. They are dodgy and were happy to accept investment instructions from lying thieves. Check out CWM pension scam on Google. No doubt I will receive legal threats for this but it is true. Momentum can go f**k themselves!”
“Waiting 16 days for PCLS they say funds sent, my bank has no knowledge. Transferwise can do a transfer in about 6 seconds!
£62,000 loss in 5 years, I am competely devastated.
39 years of saving and this happens.”
“I am a pensioner and have been trying to get my payment from them for 4 months and have not received anything. They have blamed the COVID crisis, their bank and everyone other than themselves, but I still don't have my money. How am I supposed to pay my bills? They are a SCAM, watch out.”
“If I could give zero stars, I would! My pension was invested with Momentum by Abbey Wealth who claim to be regulated and registered in Switzerland as well as Spain and Ireland. They are shysters and should be avoided at all costs! Momentum obviously have some sort of deal going with Abbey Wealth Management, because they took my money - made themselves trustees, and reinvested it with Old Mutual, who refused to take instructions from me, because "I was not a trustee". They paid Abbey a fortune in commission and regular fees, took another small fortune for themselves which left me with less money than I started with 3 years previously. When I realised there was something smelling highly of scam or fraud, I contacted a different financial adviser who helped me to get most of my money back under my control - but that took something over 6 months and a lot of hard work, legal consultations and basic arguing with both Abbey and Momentum, not to mention fun and games with Old Mutual. Take my advice, don't deal with any of these companies. They will rob you blind!”
“Failed me as Trustees allowing two separate unlicensed advisors destroy my pension fund with high risk investments even though my request was low / medium. No respect or support for clients, just taking fees for nothing. AVOID !!”