Holborn Assets has been trying to calculate how much victim Glynis Broadfoot is due in compensation for loss to her pension fund invested by them for the past five years. But it is an uphill struggle and I am not entirely sure that poor old Bob Parker hasn’t either lost his marbles altogether, or never actually did maths in the first place. Either way I’ve decided to buy him a new calculator.
Let’s look at the maths – they are quite straightforward. When Holborn Assets first approached Mrs. Broadfoot, they promised her a “free” pension transfer from her final salary scheme with her local authority employer into a QROPS with Gower Pensions. They assured her this was in her best interests.
Five years and thousands of sleepless nights later, Mrs. Broadfoot has watched the value of her pension fund sink relentlessly while Holborn Assets has showed not a drop of concern and even refused to talk to her about it. They have said “the case is closed”.
To give them their due, Holborn Assets has now at last started coming to the table and have been making offers of compensation for Mrs. Braodfoot’s losses. They started at thruppence and have now upped their offer to £35,000. But let’s have a look at the maths:
Original cash equivalent transfer = £195,105
Actual transfer = £146,379
Big chunk of money inexplicably got lost = £48,726
At a cautious low-risk growth of 4% per year, pension should now be worth £178,000
But Mrs. Broadfoot has £106,730 left of her pension thanks to Holborn Assets
So, even forgetting the £48k that Holborn “lost”, Mrs. Broadfoot needs £71,270 to put her back to where she should be. And then there is compensation for the damage this has done to her health for five years.
So come on Bob, do the maths! We all know Paul Reynolds is making you a fortune so you can afford to pay proper compensation to your victim.
And another thing, Holborn Assets is using cold-calling scammers in Manchester to sign up more victims. Here in Spain, the leads generated by this scam are followed up by Holborn Assets salesman Jason Ryder who purports to have an office in Barcelona and another one in Marbella.
Now, come on Uncle Bob, you know Holborn Assets has no license to operate in Spain or provide financial, pension or investment advice here. That is how Mrs. Broadfoot got scammed in the first place and lost such a huge chunk of her pension. So cold calling, scamming, destroying pensions, offering derisory compensation, ignoring a victim’s pleas for help…..not very nice. Get your chequebook out mate!
Finally, how is Paul Reynolds doing? I met him at your office in 2015 you know. He is quite handsome. I hear he is your best salesmen which is why you won’t get rid of him – he is making you so much money.
And what about your 40+ other “consultants”? Don’t any of them care about your firm’s professional reputation?