If you have been following Pension Life´s blogs, you will know that we have been conducting a series of investigations into qualified and registered financial advisers in various firms. Today, I am investigating Seagate Wealth Management Spain – qualified and registered?
IFAs and their clients are invited to add to, correct and improve this blog. Here’s a link to the three registers if you want to double check:
http://www.cii.co.uk/web/app/membersearch/MemberSearch.aspx
https://www.cisi.org/cisiweb2/cisi-website/join-us/cisi-member-directory
https://www.libf.ac.uk/members-and-alumni/sps-and-cpd-register – Claim to a DipFA
Please note that this data is correct as at 17/07/2018
What Seagate Wealth Management Spain say on their website:
‘Seagate Wealth Management provides Independent Financial Advice working with a number of regulated companies offering a comprehensive range of services. However, we are very different to your typical Financial Adviser. The Seagate team has a wealth of experience in providing advice on all aspects of investments, savings and pensions options. We believe that providing various solutions for our clients is the key.’
Seagate Wealth Management Spain – qualified and registered? Meet the team:
Mark Harrison – Managing Partner – ‘..with over 20 years of experience in Financial Services’. However, no Mark Harrison appears on any register for Spain or Seagate Wealth Management. He states in his profile:
‘He is passionate about helping ex-pats reach their financial goals and believes the only way to achieve this is through regulated and transparent financial advice.’
However, it appears that Mark Harrison has no financial qualifications and is therefore unqualified to give advice to anyone about their financial goals.
Chris Shaw – Partner – ‘…career in financial services stretches back over the last 15 years’. However, there is no mention of any financial qualifications and he doesn’t appear on any of the three registers. He states in his profile:
‘Chris takes his UK ethics and expertise and advises ex-pats all around the Costa Blanca on making important financial decisions.’
Ethics? Being unqualified to advise on financial matters but openly advertising and working in the industry doesn’t seem very ethical to me.
Steve Higgins – Partner – ‘…has worked in the financial sector for all of his working life and that is a long time!’ No mention of any financial qualifications, he does not appear on any register. His profile states:
‘Steve is very passionate and sincere about ensuring ex-pats obtain their desired solutions to their investment and income criteria.’
Not sure how being an unqualified financial adviser can be sincere and during his long working life, you would have thought he would have studied for some exams.
Karen Palmer – Client Account Manager – ´…is fully qualified, holding the Financial Planning Certificate, CeMap Mortgage qualifications and the Advanced Financial Planning Certificate in Taxation and Trusts´. However, she does not appear on any register.
Robert Pearl – Relationship Manager – No claims to any financial qualifications and does not appear on any registers.
Arguably, if Mr Pearl is not giving financial advice, he doesn´t necessarily need qualifications. However, we are told he does give financial advice. Therefore, he is giving advice without being qualified to do so.
Seagate Wealth Management Spain – qualified and registered? 0/5 – 0%
Seagate Wealth Management Spain state on their website:
We deliver UK best practice in Spain
We always put our clients´ needs and priorities first
We only offer regulated financial advice using compliant products
We are completely transparent on our services, charges and terms
We have extensive experience in providing advice on investments and pension transfers
However, Seagate Wealth Management Spain do not have a single member of staff registered with any financial qualification.
On their website, Seagate Wealth Management Spain state:
We work in conjunction with fully regulated and authorised companies.
They ought to state who these allegedly regulated companies are – and explain how Seagate are regulated.
