Has anyone used HSBC PIMS for managing their investments?

by , 23 Jun 2012

I'm just about to transfer all our ISAs to HSBC who will manage them. Anyone else doen this?

Answers

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Hello and welcome to the forum,

If you're looking for customer stories, you can try searching the internet - you may well find people who are willing to talk about their stories. If you'd like to compare it against other ISA providers, you can find a list here: http://www.money.co.uk/savings-accounts/isa-savings.htm

Hope this helps,

Tom

by TomCo, 10 Nov 2012

Hi boss64, have you considered receiving independent advice?

by benthom23, 6 Jan 2014
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We have done a similar transfer and are regretting it!
In 9 months we now have 98% of what we started with. The HSBC Financial Adviser is hopeless and does not seem to have the time, the inclination or the skills to answer basic questions on the quarterly reports we have received.
This seems to be a case of any income that is received is used to pay HSBC charges leaving nothing for the investor.
So if anyone else is considering such a move, DON'T!

by boss64, 14 Dec 2013

I am just about to write to HSBC and the regulatory authority about my concerns. Will keep you posted

by boss64, 14 Dec 2013

Our next quarterly report is due soon will keep you posted on results

by boss64, 14 Dec 2013

If you think it's complicated now wait til you try to cash in your investment. It takes forever. In the meantime your investment will probably go lower due to the exorbitant charges. HSBC charge top draw management charges but performance is bottom draw. Keep well away

by rog56, 17 Apr 2014
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Don't touch HSBC PIMS with a barge pole. They are incompetent. Charges high and performance low. Trying to cash in your investment takes weeks. I speak from experience.

by rog56, 30 Apr 2014

Absolutely right. We believed all the HSBC publicity about a global service with lower risks and better performance but in the first year we had 98% of what we started with. The HSBC adviser ignored requests and it took 3 months to get answers to basic questions on the quarterly report. We are now trying to get an alternative investment by them for our PIMS but the report for which we are supposed to pay £600 is hopeless and incompetent. Written requests for explanations are either ignored or replied to on non HSBC headed notepaper - presumably so they cannot be held responsible. So I think we will have to cash in our PIMS.

How are you getting on with getting your money out Rog56?

by finance2, 2 months ago
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