If you wish to select a different choice:
Reviews for Towry
Average User Review Ratings for All products
Sort by:
Sort order:
Service:
Financial Advice (Independent) Product:
Wealth Management
Review by simpleinvestor
submitted on 02 March 2015
Likes: None
Dislikes: Hidden costs
I suggest you avoid this company. I invested with Edward Jones and then Towry took them over. I have a simple investment with them of a standard ISA product. They wrote to say they were introducing charges for management to the tune of £100 per annum but never made it clear that this applied to my account. They submitted no bills and on the yearly update never detailed any charges. Now they write insisting I am over £500 in debt to them for unpaid charges. Scandalous!
Avoid them. As others say they have very limited people, products and choices and they have no customer focus.
If this site let me score them zero I would.
Service:
Financial Advice (Independent) Product:
Wealth Management
Review by Savingsome
submitted on 20 November 2012
Likes: Initial advice in 2006 was reasonably helpful
Dislikes: Quality of advice declined sharply. Lack of transparency over charges. Poor service & information.
I understand that Towry were once a good firm, but since their takeover by a private equity company the service we received was truly dire.
Too many problems to list - but examples include frequent switches of adviser, increases in charges, swapping 'platforms', transaction errors and poor documentation. We were prevented from transferring some of our investments (at almost no notice) because of an IT change. The advice is supposedly independent but surprise surprise as far as I can see they just sell you the same standardised portfolios. Needless to say the investments have not performed well.
We got out. My advice is to avoid this lot - they seem to only see their clients as a source of income for their private equity bosses.
Service:
Financial Advice (Independent) Product:
Wealth Management
Review by robin4321
submitted on 28 May 2011
Likes: None
Dislikes: Unresponsive
We were formerly with Edward Jones.When they sold out to Towry we were offered the very restricted range of products you quote in your review. Thankfully we rejected the offer and asked for a pension portfolio and private investments totalling more than 700K to be transferred to another provider.
Towry hung on to these investments and finally completed the transfer after a delay of more than ONE YEAR.
During this time we asked the FSA and the Financial Ombudsman for help. We are still waiting for this help 9 months after we contacted them. Compensation? You must be joking!
The transfer was completed shortly after we contacted the Deputy Prime Minister (our MP). Thanks to him for that.
Towry hijacked our investments, prevented our access for management and presumably collected the trail commission for a year for doing nothing.Our treatment at their hands was disgraceful.
As well as illustrating the treatment of its clients by Towry, this is a telling indictment of the protection offered to investors who only want fair treatment. Not everyone has an influential MP!