Alliance Capital Asset Management, Deal, scam ?

[jamie2009]

I completed an enquiry form on the now compare website re investments.

The company in the title have contacted me and are offering 3% interest on a 2 Year Fixed Savings deal and 

5% on a 5 Year deal, both Capitol protected no fees.

I

GUARANTEED MONTHLY INCOMEî

 

•             Product: Alliance 33+ Fixed Interest Monthly Savings Bond

•             Company: Alliance Group

•             Sector rating: ‘Best buy’ monthly income fixed interest

•             Premium: Min - £50,000 (or currency equivalent) no max (until tranche sells out)

•             Capital: 100% capital guaranteed – cash guarantee held by HSBC Bank

•             Rates: 5 years 5%, 10 years 8% and 15 years 10%*

•             Facilities: Rates guaranteed over term of 5,10,15 years, with income available monthly, quarterly, or annually.

•             Costs: No set up or annual costs

•             Caveats: No access to capital during term

 

FIXED INTEREST SAVINGS

 

• Product: Alliance 33+ Fixed Interest Savings Bond
• Company: Alliance Group

 

• Sector rating: ‘Best buy’ fixed interest
• Premium: Min - £10,000 (or currency equivalent) no max (until tranche sells out)
• Capital: 100% capital guaranteed
• Rates: 5 years – 6% (limited period only); 7 years – 6% ; 9 years – 10%*
• Term: Rates guaranteed over term of 5,7,9 years
• Costs: No set up or annual costs
• Caveats: No access to capital during term
• The 2 year bond  issued by Alliance remains at 3% per year compounded Interest.

Both deals are 'too good' too be true for me, has anyone had any dealings with Alliance Capital Asset Management ?

https://www.welcometoalliance.com/?gclid=CJjzgKaA8tICFUOhaAodnoECuw

Edited March 25, 2017 by jamie2009

[KittenKong]

24 minutes ago, jamie2009 said:

Capital: 100% capital guaranteed – cash guarantee held by HSBC Bank

Rates: 5 years 5%, 10 years 8% and 15 years 10%*

Facilities: Rates guaranteed over term of 5,10,15 years, with income available monthly, quarterly, or annually.

 

Wanna buy the Golden Gate bridge? I can do you a special price.

[CharlieH]

Wrong forum -Moved

[jamie2009]

13 hours ago, KittenKong said:

 

Wanna buy the Golden Gate bridge? I can do you a special price.

Didn't know it was for sale ?

[lemonjelly]

Office situated in a basement in Bangkok and staffed by "financial advisers" who have to sleep on coconut mats perchance?

[fletchsmile]

Not to be confused of course with Allianz , which are indeed a genuine worldwide insurance company. Anyone googling world's largest insurance company will find the name Allianz in the top 10 list but not Alliance

 

https://www.allianz.com/en/

 

Not surprising that nowcompare.com (another of those familiar sounding names slightly altered) recommends them as best deals given that nowcompare.com is part of this "group". Seems like you can put whatever fields into nowcompare and it recommends these same products. Highly unusual for THB rates to be the same as GBP or USD as well :)

 

Just looking at the website, the wording isn't what you'd expect from a global professional insurer. eg you don't "produce" international insurance, you "provide" it. Heavy investment in "computer systems", would more likely be investment in "IT infrastructure"  

 

Rather an unusually large focus on Thailand too for the world's largest insurer.

 

The list of regulators is also very thin, for a company claiming to be the "world's largest producer of insurance" with a few obscure ones in there. Although surprisingly they do seem to check out as registered with PIBA in HK. Then again 8 registered staff is a few thousand light of what you'd expect of the world's largest.

 

Wouldn't touch it myself, but that's just me LOL

Edited March 26, 2017 by fletchsmile

[jamie2009]

1 hour ago, fletchsmile said:

Not to be confused of course with Allianz , which are indeed a genuine worldwide insurance company. Anyone googling world's largest insurance company will find the name Allianz in the top 10 list but not Alliance

 

https://www.allianz.com/en/

 

Not surprising that nowcompare.com (another of those familiar sounding names slightly altered) recommends them as best deals given that nowcompare.com is part of this "group". Seems like you can put whatever fields into nowcompare and it recommends these same products. Highly unusual for THB rates to be the same as GBP or USD as well :)

 

Just looking at the website, the wording isn't what you'd expect from a global professional insurer. eg you don't "produce" international insurance, you "provide" it. Heavy investment in "computer systems", would more likely be investment in "IT infrastructure"  

 

Rather an unusually large focus on Thailand too for the world's largest insurer.

 

The list of regulators is also very thin, for a company claiming to be the "world's largest producer of insurance" with a few obscure ones in there. Although surprisingly they do seem to check out as registered with PIBA in HK. Then again 8 registered staff is a few thousand light of what you'd expect of the world's largest.

 

Wouldn't touch it myself, but that's just me LOL

I called the now compare office in Bangkok, it's the Alliance office, I also checked the PIBA Website but couldn't find any record of them bearing in mind if registered it only covers Hong Kong not Thailand.

There website only has 3 testimonials not many for company claiming too be one of the largest in the world.

I asked their Rep to set a meeting up with me in Bangkok as I will be there for a couple of days although there is little or no chance I will be parting with any money.

[fletchsmile]

If you go to PIBA's website.

 

http://www.piba.org.hk/

 

Then select members you can do a search:

 

http://www2.piba.org.hk/~ima/pn01_2.php?srhtyp=M&regno=0445&mbrno=0445

 

and google the CEO's name to find a link such as:

 

http://hongkonginsurancebrokers.com/broker/PIBA/0445

[jamie2009]

46 minutes ago, fletchsmile said:

If you go to PIBA's website.

 

http://www.piba.org.hk/

 

Then select members you can do a search:

 

http://www2.piba.org.hk/~ima/pn01_2.php?srhtyp=M&regno=0445&mbrno=0445

 

and google the CEO's name to find a link such as:

 

http://hongkonginsurancebrokers.com/broker/PIBA/0445

Different company, Alliance Capital Access Management is the name of the company not Alliance Insurance.

[Ginkas]

 

I see that the address for Alliance Capital Access Management is

Eskaton, Dhaka, Bangladesh.

 

If you Google them you can also get a street view of where they are, supposedly, located.

[reenatinnakor]

At those rates... Less than 1 per cent a year, doesn't sound like a scam. Or it's a stupid one if it is. Just randomly betting win lose or draw on any random football match will get you more than 1 per cent a year lol.

Sent from my LG-H990 using Thaivisa Connect mobile app

[macahoom]

7 hours ago, reenatinnakor said:

At those rates... Less than 1 per cent a year, doesn't sound like a scam. Or it's a stupid one if it is. Just randomly betting win lose or draw on any random football match will get you more than 1 per cent a year lol.

Sent from my LG-H990 using Thaivisa Connect mobile app
 

Why do you think it's "Less than 1 per cent a year"?

 

I think you must be confused.

[NanLaew]

15 hours ago, jamie2009 said:

I asked their Rep to set a meeting up with me in Bangkok as I will be there for a couple of days although there is little or no chance I will be parting with any money.

Meeting set up in Bangkok....

 

"Hey boss! I think I've got one!!!"

 

The use of the term "little" in relation to "chance" indicates someone who doesn't pay much attention to the old adage, "If it sounds too good to be true, it probably is."

Edited March 27, 2017 by NanLaew

[jamie2009]

7 minutes ago, NanLaew said:

Meeting set up in Bangkok....

 

"Hey boss! I think I've got one!!!"

 

The use of the term "little" in relation to "chance" indicates someone who doesn't pay much attention to the old adage, "If it sounds too good to be true, it probably is."

No reply for a Meeting, no chance would I be signing up for this scheme anyway, I just wanted too hear the bull ****.

[Oxx]

It's interesting that though they claim to operate in the UK and USA, but they don't appear to be regulated in either country (at least according to their website).  They are, however, regulated in those centres of financial probity Mauritius, St. Kitts & Nevis, and Gibraltar.

 

Note that you have no access to the capital during the term of the investment.  Perhaps once they've garnered enough money they'll just shut up shop and disappear?

[AllianceGroupInternational]

[Writing on behalf of Alliance Group International]

 

Thank you all for your comments.

 

We welcome feedback from the international community.

 

Alliance Group International is an investment holding company registered in both Hong Kong and the United Kingdom whose interests include operating subsidiaries focused throughout the complete supply chain of insurance, financial services, employee benefits and HR consulting.

 

Each subsidiary of Alliance Group act independently from each other and provide a range of products and services; an example mentioned in an earlier comment is Alliance Insurance Services, which is headquartered in Hong Kong and regulated by the Professional Insurance Brokers Association.

 

Another entity mentioned was NowCompare, a company centrally registered in Mauritius under Global Business License 11 for international operations with a network of support centres helping expats around the World.

 

Alliance Group companies hold licenses to carry out a range of insurance and financial business, details of which can be found at:  https://www.welcometoalliance.com/regulations/

 

Our ultimate aim is and always will be to provide transparent services to our customers and our partners and although it is difficult to express this within the forum setting, we welcome anybody to visit any of our offices around the world, meet the team and judge for yourself the professionalism of our organisation.

 

Thank you once again for your comments and interest.

 

 

 

 

[stevenl]

[Writing on behalf of Alliance Group International]
 
Thank you all for your comments.
 
We welcome feedback from the international community.
 
Alliance Group International is an investment holding company registered in both Hong Kong and the United Kingdom whose interests include operating subsidiaries focused throughout the complete supply chain of insurance, financial services, employee benefits and HR consulting.
 
Each subsidiary of Alliance Group act independently from each other and provide a range of products and services; an example mentioned in an earlier comment is Alliance Insurance Services, which is headquartered in Hong Kong and regulated by the Professional Insurance Brokers Association.
 
Another entity mentioned was NowCompare, a company centrally registered in Mauritius under Global Business License 11 for international operations with a network of support centres helping expats around the World.
 
Alliance Group companies hold licenses to carry out a range of insurance and financial business, details of which can be found at:  https://www.welcometoalliance.com/regulations/
 
Our ultimate aim is and always will be to provide transparent services to our customers and our partners and although it is difficult to express this within the forum setting, we welcome anybody to visit any of our offices around the world, meet the team and judge for yourself the professionalism of our organisation.
 
Thank you once again for your comments and interest.
 
 
 
 

Not addressing any of the issues mentioned.

sent using Tapatalk

[fletchsmile]

12 hours ago, AllianceGroupInternational said:

[Writing on behalf of Alliance Group International]

 

Thank you all for your comments.

 

We welcome feedback from the international community.

 

Alliance Group International is an investment holding company registered in both Hong Kong and the United Kingdom whose interests include operating subsidiaries focused throughout the complete supply chain of insurance, financial services, employee benefits and HR consulting.

 

Each subsidiary of Alliance Group act independently from each other and provide a range of products and services; an example mentioned in an earlier comment is Alliance Insurance Services, which is headquartered in Hong Kong and regulated by the Professional Insurance Brokers Association.

 

Another entity mentioned was NowCompare, a company centrally registered in Mauritius under Global Business License 11 for international operations with a network of support centres helping expats around the World.

 

Alliance Group companies hold licenses to carry out a range of insurance and financial business, details of which can be found at:  https://www.welcometoalliance.com/regulations/

 

Our ultimate aim is and always will be to provide transparent services to our customers and our partners and although it is difficult to express this within the forum setting, we welcome anybody to visit any of our offices around the world, meet the team and judge for yourself the professionalism of our organisation.

 

Thank you once again for your comments and interest.

 

 

 

 

Do you have a link to any external / 3rd party source that supports your website claim, as quoted below. Respect could be somewhat of a matter of opinion, but clearly being the largest is a matter of fact which should be easy for you to substantiate if true.

 

Quote

Welcome to the Alliance Group, the world’s largest producer of international insurance and one of the most respected brands within global financial services ..

Edited March 28, 2017 by fletchsmile

[fletchsmile]

On 3/26/2017 at 5:04 PM, jamie2009 said:

Different company, Alliance Capital Access Management is the name of the company not Alliance Insurance.

They're all part of the same "group" if you hover over the tab [group companies] on the link you provided in your OP

[Oxx]

There's a Wikipedia page for "Alliance Group".

 

https://en.wikipedia.org/wiki/Alliance_Group

[Oxx]

14 minutes ago, fletchsmile said:

the Alliance Group, the world’s largest producer of international insurance

 

Not sure what "producer" means in this context.  Assuming it means "provider" I would expect to see its name on this list:

 

http://www.investopedia.com/articles/personal-finance/010715/worlds-top-10-insurance-companies.asp

 

AXA, nope.  Zurich, nope.  Prudential, nope.  Munich Re, nope.  Assicurazioni Generali, nope.  Allianz, close, but nope.  (The others in the top 10 may not operate internationally, which is why I haven't mentioned them.)

 

Anyway, the claim of "world's largest" appears to be a lie.

 

As for "one of the most respected brands within global financial services", well this is a list of the top 100 financial service companies:

 

http://bankinnovation.net/2009/04/the-top-100-financial-services-brands-in-the-world/

 

Nope, Alliance is not there.  Not in the top 100.

 

Again, this claim appears to be another lie.

 

So, (user) AllianceGroupInternational, do you have anything independent to back you your company's lies boastful claims?

 

 

[stevenl]

2 hours ago, Oxx said:

There's a Wikipedia page for "Alliance Group".

 

https://en.wikipedia.org/wiki/Alliance_Group

Very helpful: " The Alliance Group, originally called Alliance Freezing Company (Southland) Limited and often referred to simply as Alliance, is a company based in New Zealand that is one of the world's largest processors of sheep meat ".

[Oxx]

8 minutes ago, stevenl said:

Very helpful: " The Alliance Group, originally called Alliance Freezing Company (Southland) Limited and often referred to simply as Alliance, is a company based in New Zealand that is one of the world's largest processors of sheep meat ".

 

Not really.  Simply a coincidence of name.  I posted the link tongue-in-cheek.

[Thai Ron]

Really poor English in use on the website.  'Regulations' should be 'regulators'. 

 

100% boiler room scam. They're quoting realistic interest rates because if they were too high, everyone would suspect it was a scam. 

 

The worlds largest insurance provider would be overseen by more than a handful of dodgy regulators.  Steer clear.  They can't even get decent content done and their website developers are based in boiler room central,  Marbella. 

 

Steer clear or your money will end up funding a gaggle of freelancers, a huge bottle of Belvedere and a kilo nosebag of coke at Sugar Club on sukhumvit. 

[KittenKong]

The UK branch of this company appears to have been set up a couple of years ago and is listed as dormant. It has a registered capital of GBP100. The only two registered shareholders share the same family name as the CEO of the group. One of those two people (who is well past state retirement age) has been associated with dozens of companies over the last few decades, many involved with insurance or investment, and most of them have been wound up.

 

All information available for free on the UK companies registry.

 

I am pleased to see from their website that they are "the world’s most visited international insurance intermediary” though I'm not sure what that actually means.

[reenatinnakor]

Meet them and just ask them straight out if they are a boiling room or scam operation. If they are you can still make money. I've made money from ponzis before and there's no shame in it, just try and make sure other people lose money and not yourself! And then get out once in profit.

Sent from my LG-H990 using Thailand Forum - Thaivisa mobile app

[jamie2009]

Just now, reenatinnakor said:

Meet them and just ask them straight out if they are a boiling room or scam operation. If they are you can still make money. I've made money from ponzis before and there's no shame in it, just try and make sure other people lose money and not yourself! And then get out once in profit.

Sent from my LG-H990 using Thailand Forum - Thaivisa mobile app
 

They never called me back re a meeting, it's noticeable if you 'google' Best Savings Accounts Now Compare part of the Alliance  Group is at the top of the page.

[dutchkev]

Hi,

any more news on Alliance ? did anyone actually invest ?

[jamie2009]

7 minutes ago, dutchkev said:

Hi,

any more news on Alliance ? did anyone actually invest ?

No, if they were genuine it was a high risk product, lending money too people/companies who couldn't get the loan from a bank, charging them a higher interest rate,.

They said this enabled them to pay the interest too me.

[cyberfarang]

 

After having endured frequent in your face online advertising of this group, decided to check this out. Not impress and for me personally, would not risk it.

 

One main concern, what happens if the company closes or is taken over, do my investments go with it?

Edited August 6, 2018 by cyberfarang