Momentum Pensions Reviews

1.2 Rating 80 Reviews
5 %
of reviewers recommend Momentum Pensions
1.2
Based on 80 reviews
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Anonymous
Anonymous  // 01/01/2019
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.
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Posted 3 years ago
Managed to extract tons of fees and my shares went backwards.
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Posted 4 years ago
Just terrible
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Posted 4 years ago
Just terrible
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Posted 4 years ago
Momentum failed their duty of care. https://www.dailymail.co.uk/news/article-7841653/Pension-scammers-moving-operations-abroad-dodge-tighter-UK-regulations.html Enough said. Please avoid!
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Posted 4 years ago
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.
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Posted 4 years ago
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!
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Posted 4 years ago
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 !!
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Posted 4 years ago
Despite charging me ridiculous fees for supposedly taking care of my pension, they won't give it back to me. They got my money from a fraudulent "Financial adviser" too. Please do not deposit anything with these thieves, you will not get it back
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Posted 4 years ago
This is becoming outrageous. No chance of following their actions. At least they could ask beforehand if we agree to such and such option. Maybe there are out some special ''lucky'' ones, that not get ripped off? Don't know where is the safest option now and even worst I fear it is the political elite being lobbied by financiers. The little clerks in the industry are not the cause but merely earn their decent wages from ''losses'' and ''inflation'' from our pension funds and investments. That's the system. Never enough. No responsibility and always someone else is wrong, not them. Why can't be straight? Being straight nowadays does not pay off? We can call it a scam though its apparently not in the legal meaning. Some pretend to be more clever than others. Even if this would be brought before the judge, they would find a clerk to be the culprit.
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Posted 5 years ago
Momentum Pensions allowed my IFA to sign dealing sheets on my behalf that went unchecked, allowing them to invest in funds that I would not have approved of. Only after 6 months of fighting with them did I managed to built a full picture. They do not provide you with documents requested and are very difficult to deal with. They certainly do not have the interests of the customer in mind when allowing deals to take place.
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Posted 5 years ago
The vast majority of reviews for Momentum, here, relate not to Momentum themselves, of whom I feel provide an exemplary service to their clients, but to the poor quality, commission laden 'advice' provided by unscrupulous financial 'advisers'. Do your research and choose to work with a properly regulated, fee based (no commissions) Chartered Financial Planner and you shouldn't experience any of the painful issues that the majority of these reviewers detail.
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Posted 5 years ago
Hi Stewart, I write to thank you and your team at Momentum Pensions for the hard, painstaking and lengthy challenges experienced by you in securing the release of our pension funds from the Trustees in Hong Kong. I also would like to thank you for the regular communications that Momentum send to us. This was a rare commodity in the past. My wife and I are grateful for all your input and guidance. Please pass on our thanks to all of your team. Wishing you all the very best ... Ian and Lynne Patterson (Malaga)... Xx
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Posted 5 years ago
How to be conned in one easy lesson and that is invest almost £69k in this Company and loose almost £40k of it in just 2 years. I think this Company preys on the elderly and need a severe lesson in how to handle hard earned Contributions from Salary from 1977 to 2010. Disgusting performance and one Star is not even deserved. Now they say that it is not them but another Company . As far as I am concerned my Agreement was with Momentum and nobody else. So wriggle out of that one. You aught to be ashamed of yourselves and shall suffer in Hell as far as I am concerned. I hope that you all can sleep well at night knowing what you are doing
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Posted 5 years ago
Reading all of these negative comments below have one other common feature - CWM or Continental Wealth Management. It seems like CWM was the Financial Adviser which all of you hired - no one else. It must have been awful being forced to hire CWM as your adviser. You were all conned by CWM not Momentum, and now you are all going around as an angry mob and discrediting a company which did not force you to hire CWM as your adviser. For the record, I have been with Momentum since they started, and I did my own homework when I hired my Financial Adviser, and I am more than happy with the service and growth I have seen on my pension.
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Posted 5 years ago
I also wish there was a 'no stars' option. This company have destroyed over a third of my pension fund - through exorbitantly high fees, investing in schemes which are not suitable for a pension and the really worst thing of all is that they couldn't give a sh*t that they have ruined mine, & many others like me lives. Shame on you!!
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Posted 5 years ago
Lost everything! Was told my pension would be invested in a LOW RISK fund. They lied, it was not I lost £45,000. My pension and financial stability gone. Do not trust them
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Posted 5 years ago
Momentum have knowingly taken referrals from unqualified agents Continental Wealth Management accepting forged dealing instructions and placed clients money into high risk policies decimating their pensions. Momentum lack of due diligence and quality checks is appalling. They do not safeguard pensions and certainly cannot be trusted to act as a 'Trustee'
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Posted 5 years ago
They have wrongly invested my private pension so I have lost nearly all of it.. my husband has died and I am only 60 so nowhere near pensionable age.. my life is hell.. thanks for nothing!!!
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Posted 5 years ago
Absolute disgrace of a company. They’ve completely destroyed the lives of myself, my husband and entire family due to their fraudulent dealings and lack of interest in ourplight. They have no conscience whatsoever and to this day are stealing money from people. Shame on you. Merry bloody Christmas you shisters
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Posted 5 years ago
Momentum Pensions is rated 1.2 based on 80 reviews