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Bulletin Board Offshore Boffin’s Bulletin Board is for subscribers to discuss issues of common interest with other members of the offshore investment community
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| | [Paul] Has anyone established an investment relationship with Royal Skandia in the Isle of Man, and what are your experiences and thoughts of their level of service? |
| 19/03/2003 00016:18:26 | > [Sigma] Royal Skandia |
| | > Having worked for 2 offshore life companies in the IOM one of which was Royal Skandia I would say that it very much depends what you mean by service!!
Out of the two RSK are better by far but as with all large companies they make mistakes from time to time. The choice of company should depend on other issues as well as service |
| 08/08/2003 00011:42:15 | > [anonymous] |
| | > royal skandia are have some great products but if management is what you want then go to an ifa i had a bad experience with a broker,now i use barclay spencer international who take very good care of my vehicle.the kind of service that they have provided is excellent i would recommend that you check out their websitewww.barclayspencer.com |
| 22/03/2004 00013:55:37 | > [anonymous] Royal Skandia - Awful Customer Service |
| | > I've been dealing with Royal Skandia for 3 years now and find their service to be lacking in many regards. First, they continue to nail customers/policyholders/investors with more an more charges such as the 1% charge they now add if you use a credit card to invest money with them. That's seems to be their way of saying "Thank You For Your Business".
Of course, now their policy is to try to convince everyone to use a credit card so that they can sit back and rake in the cash at their customers expense. They even started to claim that they cannot accept wire transfer lump sums any longer and suggest that credit cards are the only practical way to make payments. That would be very good for them, but downright awful for me.
Second, they simply will not give straight answers to questions. I've asked many many times about the link between Royal Skandia and Skandia Sweden (where there was a serious financial scandal recently) and they sent me a very lame explanation. That makes me very nervous indeed.
I've also asked why their Eastern Europe funds grossly underperformed Eastern European Indexes for calendar year 2003 and they continue to this day to sidestep my questions.
They have hurt themselves badly in my case (I was going to deposit a lot more money with them) and I will simply live up to the committments I've made and that'll be the end of it. Meanwhile, I would caution people to stay away from Royal Skandia so you aren't subjected to the frustrating ripoffs and pathetic customer service that I've suffered with. |
| 22/03/2004 00020:53:54 | > [anonymous] talk to an IFA |
| | > I am an IFA and due to the terms of the bulletin board I will not tell you who for, but in answer to your question and the replies I have read so far.....The service of Royal Skandia has in my experience (14 years offshore IFA) been excellent! The comments I have read about credit cards leave me dazed. It is expensive for a company - any company - to use a credit card to collect payments for goods and or Financial Services. A seperate sytem has to be put in place to collect the payments etc. It is a choice to pay by credit card and not a requirement. Anyone who tells you to pay by credit card only is incorrect. A financial adviser may be telling you to do so in an effort to get paid his commmission faster as payments by credit card are quicker, but this only counts for the intial - or first - payment. RS have received many awards from the public and IFA's all around the world. They are big, reliable and can be a little expensive. But I would prefer to invest my life savings or retirement fund with a company that invests in its administration and or ways to make my life easier. Speak to a local IFA to get another opinion but in my experience - they are good and I use them personally. |
| 21/12/2007 00013:06:38 | > [anonymous] Was not too impressed |
| | > I agree that it was hard to get the straight dope on any questions I asked. I also thought their attitude in communicating with me was a bit impatient. I had an EIB for a few years 1999 - 2001. I always chalked it up to the fact that I didn't have millions to invest. |
| 19/03/2003 00012:12:11 | > [Sigma] Brit living in France |
| 19/08/2003 00004:47:14 | > [anonymous] |
| 05/01/2004 00017:30:25 | > [anonymous] Hansard |
| 19/08/2003 00004:53:24 | > [anonymous] GAM |
| 12/01/2005 00008:28:11 | > [anonymous] Where's the best place to leave my money? |
| 06/05/2006 00007:35:32 | > [anonymous] Royal Skandia vs Canada Life |
| 24/01/2007 00017:19:49 | > [anonymous] |
| 21/12/2009 00020:21:39 | > [anonymous] |
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