Anybody transferred from Advance by Embark to Scottish Widow

[gareth h]

My investments were sitting in a platform operated by Embark and all was running tickety boo, then they sold to Scottish Widows, what a nightmare, I was told by the FA, who had been told by SW it would be seamless, well, ffs, no historic info available, so very difficult to track performance, and a large predicted CGT bill because they are claiming no purchase cost to one fund, it was transferred internally due to a name change on my account!
A complete Joke!

[Soft Top]

SW have been a nightmare for the last 2 or so years.

Their online platform was never good, (limited info and well behind the times), and the move to a new internal system was disastrous. The website is better looking BUT gives the same limited information so as far as I can tell has the same back end.

Moving to a new IFA we moved to a new provider and SW were just so useless that they couldn’t provide final values for the transfer for weeks. We got a reasonably decent payment for our complaint but just a few weeks ago we queried the payments made for this financial year ready for an end of year top up and 2 weeks later we are still waiting. We are pretty sure we know the answer but have effectively had to take a punt and hope we are not over the annual allowance! I feel another complaint coming on!

[Piginapoke]

Worth noting that Embark was impacted by the Rowanmoor issue, at least SW is financially secure.

[gareth h]

Piginapoke said:

Worth noting that Embark was impacted by the Rowanmoor issue, at least SW is financially secure.

I hadn’t heard of Rowanmoor, had some money with Woodford though!