Apologies for the overly long post but I thought it was about time that I posted on this blog. I am the partner to whom Jasmine Wet Cocker (known from now on as JWC) refers to in this blog and I’m the person who made the original investment with the Welbeck Group.

As you will already have read I invested money to buy property through them but only bought one property because their property division closed down soon after. As a result money was owed to me by the Welbeck Group as laid out under the terms and agreements of the contract I signed with them. This contract was very clear as to the fee schedule for the property that I had purchased. There then began a rather protracted battle to get the unallocated funds returned to me. According to the fee schedule they owed me approximately £8200 but, as you’ve read on this blog, they were very reluctant to return this to me, providing all sorts of excuses but never explaining why.

During the next 6 months there were almost daily phone calls to the Welbeck Group by a third party employed to retrieve monies for all the investors left in the lurch by the closure of Welbeck property division. Eventually when this third party had exhausted all avenues to retrieve the money and my phone calls to Welbeck were not returned , JWC took over and had a couple of calls with Cathy Booth that were less than fruitful! Eventually after JWC told Cathy Booth that that she was going to come to their offices to pick up the cheque or stand outside with a banner they at last provided a cheque of a little over £6000 when she turned up. They did not provide an explanation as to why they were not paying the full amount due to me, nor did they provide a reconciliation statement or any other documentation. They simply gave her a cheque (after a lot of kerfuffle searching for it), in an envelope.

I was then faced with the prospect of taking them to the small claims court to retrieve the rest. To be honest, at this point I’d lost the will to live after six months of stress and hassle trying to get them to return even some of my money, I couldn’t at this stage face going through the courts–hence why JWC suggested starting this blog instead.

All went quiet for several months and then around April of this year people started to comment about their cold calling tactics. This brought the attention of this blog to Welbeck and it seems they weren’t very happy about it! A representative from the Welbeck Group (who called himself their troubleshooter) called JWC to arrange a meeting. At this meeting (which I was not present as I was abroad working) JWC was offered some money to take the blog down and there was an implication by him that there would also be compensation for the stressed caused. He also admitted to JWC that Welbeck had not handled the situation very well. This meeting was fairly amicable but it was clear that the Welbeck representative was angling for a quick solution. He suggested that if we did not accept his offer they would take us to court and that we would lose if this action was taken.

Initially JWC agreed to password protect the blog, but then changed her mind as she wanted a legal friend to have access to it to advise her. In addition I wanted to wait for the agreement to be put in writing before agreeing to anything and smelled a rat when the troubleshooter texted me asking for my bank details before the agreement had actually arrived. Why was he in such a hurry I asked myself? When the agreement arrived in the post it was clear why. It was obvious that they were not prepared to accept any responsibility for what had happened as there was no reference to the monies owed nor any acknowledgement that that they had handled the situation badly. To cap it all by signing it we would be agreeing to not defame them further, the implication being that we had already defamed them! Although I cant be certain, I think they asked for my bank details so that they could pay me before seeing the agreement thereby forcing us to accept its terms. Of course we were not prepared to sign and I wrote to Welbeck Wealth asking them to return the approx. £2200 owed, and once this had occurred, we could start negotiations regarding the blog.

After this they got fairly aggressive and we received several phone calls and a letter from their solicitors threatening legal action for defamation for comments made about them on this blog. As things were getting a little hairy we had no choice but to instruct a solicitor to act on our behalf. We instructed someone who is a specialist in media defamation law and were advised that most of what is written on the blog could not be considered defamatory at all and that the rest was either justified or fair comment–both of which are legitimate defence against such claims.

Their solicitor then sent us a letter of claim outlining what specifically they were unhappy about – you can see some of this in this blog. Again our solicitor advised us that the majority of the claims were not even defamatory and the rest were justified and/fair comment. Our solicitor offered to settle this amicably but then, after making us an another unacceptable offer to remove the blog they abruptly stopped all negotiations. They are now given us the “silent treatment” again. At this stage we are not clear as to why they’ve taken this course of action–I can only imagine that they either are not bothered about this blog anymore or they are not prepared to settle on our terms.

This whole process has raised a number of interesting issues. Firstly it’s fairly clear to me that Welbeck has handled this whole situation in an unprofessional manner. If after their property division closed they had called a meeting to discuss the monies owed to me I’m sure we could have sorted this out. Instead they ignored my phone calls and gave very limited information to the third party. In addition my letters sent to the managing director Greg Knight were ignored, and on the rare occasions I did manage to get through to them by phone, they were either abrupt or rude or put the phone down on JWC. They did not provide me with a reconciliation statement and never have they provided any documentation regarding the monies they think they owe me. On this basis alone by any reasonable standards of customer care this would not be acceptable. We must remember that is a financial services company–they do not sell coffee or socks–they invest other people’s money. As such, one would expect that they would at the very least, keep comprehensive documentation and detailed financial statements for their investors. This certainly did not happen in my case and I am fairly certain that had I and the third party, not battled with them for so long and had JWC not threatened to stand outside their offices with a banner, I wouldn’t have got even the £6000 back.

Furthermore, in their initial approach to us about removing the blog, their representative met JWC over beer in a cafe in London. They sent along a representative who called himself a troubleshooter. Does Welbeck have rather a lot of trouble to shoot if they have to employ somebody specifically for this purpose? Would it not have been more professional to conduct the meeting when we were both present and at their offices rather than in a rather casual atmosphere of a cafe? Is this the type of meeting one expects from a financial services company? During this meeting, pressure was applied to JWC by the Welbeck representative in threatening legal action if we did not accept the offer and furthermore the representative misinformed her by implying that we would lose any legal battle.

In addition, the agreement they sent us was clearly not going to be acceptable to us (I mean who in their right mind would sign a document implying that they had defamed Welbeck?). Rather than agree to return my money and then re-negotiate the removal of the blog, they followed up my response to it with further “pressure” phone calls and more threats of legal action and not correctly following pre-action protocols. For example their solicitors only gave us 24 hours to respond to a 4 page letter of claim, when the pre-action protocol on defamation states we are to be given up to 14 days. Presumably they had instructed their solicitors to take this aggressive stance in the hope that we would be bullied into taking the blog down. Unfortunately for them we are not the kind of people to cave into such threats.

As a final “Hoorah” someone from Welbeck stupidly made posts on this and other blogs of JWC’s pretending that they were an innocent party when in fact the posts were coming from the Welbeck IP address. -not a particularly clever or professional thing to do in my view. I note that one of their posts asked us whether we hate men. I wonder what this person means to imply by this? JWC and I are a gay couple but you may be surprised to learn that not all lesbians hate men! Anyone who has read the blog will see in what context JWC made the comments about an all male photograph in the reception area of the Welbeck offices and any reasonable person would conclude that there is no implication that JWC hates men.

The second thing that we have drawn from all of this is that companies such as Welbeck have to be very careful how they treat customers in the future. Gone are the days when a customer who is treated badly can simply be ignored. Blogging and the use of social networking sites like Twitter and Facebook are the new democracy. – and furthermore it seems that as long as blogs contain information that is based on truth or what the blogger thinks is the truth then it cannot be considered malicious or defamatory. I note that several other posts on here relate to their cold calling tactics. I am not in a position to comment about these but taken as a whole with my experience of them – readers you can make your own judgements as to whether you want to hand over any of your hard earned to them!

This blog acquires approximately 1000 new hits every week and about a quarter of these are from people who directly Google Welbeck Wealth or Welbeck Wealth Reviews – so one can only assume that this is having an impact on them financially. Interestingly at the café meeting, the Welbeck troubleshooter told JWC that he could not guarantee that other customers would not be treated as badly as I was in the future. Apart from being a rather astounding thing to own up to, it justifies the continued presence of this blog as it serves as a warning to potential customers who have been cold called by them and naturally Google them as a result. Whilst no company can guarantee that they will always treat their customers well, they should at least strive to and to try and settle disputes amicably. Welbeck have consistently and spectacularly failed on all fronts

And the lesson one hopes Welbeck has learned is- “Treat your customers badly and its likely to hit you where it hurts you most – in your wallet” .

And here’s a link where Greg Knight talks about how much Welbeck rake in.
Why is it soooooo hard for Mr Knight to hand over the coupla’ grand then?
Hey, Mr Knight?

  1. lorkil

    Welbeck financial sound totally unprofessional and not a group i would choose to deal with now or in the future.

    I feel sorry for Jay – it must be extremely embarrassing working for a service orientated company like Welbeck and knowing that their brief is not as they advertise but something far more underhand. I’m sure he/she will clue in to this fact soon.

  2. NI Girl

    Having read your comments about Welbeck I can only add my opinion of them. What a shower of wankers.

  3. Anon

    They cold called me and were so pushy for an appointment. I agreed thinking no harm could be done. I researched and fortunately found this blog. I cancelled the appointment immediately! But still, they insisted on meeting, I declined.

  4. Catherine

    Thank you ” anon” for taking the trouble to comment. It is gratifying to know that this blog is being found and is serving it’s purpose by warning people about Welbeck. If you come across this blog and you find the information here interesting or relevant please leave a comment. Thanks!

  5. Quinton

    Welbeck Wealth sounds like an out and out con operation. It’s genuinely shocking that a company like this can operate in such unscrupulous and dishonest ways. Good luck…

  6. Paresh Thakrar

    Hi, Lloyd Walker was mentioned on this site previously….cant find it now…is there any connection?

  7. Sean

    Just had a cold call from these guys were were very pushy and were booking me an appointment for next week even though I kept saying I wasn’t interested. They went away eventually and I thought I’d look them up and then found this site. Looks like they’re a company to avoid like the plague.

  8. Anon

    I just had a cold call from these guys at work! I became suspicious when the sales pitch sounded too good to be true. They kept pushing to make an appointment next week, despite declining they still pushed to pencil something in, it all sounded desperate. I told them I would call them if I was interested. I then decided to google the Company and came across this blog. What you are doing is honourable, keep it up, unethical Companies should be exposed.

  9. Chris Westcott

    I have been receiving very very aggressive marketing phone calls from Welbeck Group, initially wanting me to try and reclaim tax money using them (last week) and have just received another.

    When I declined the tax-back offer, the tact changed with the caller suggesting that the Government would be able to pay off my mortgage and then demanding to know several times if I had paid off my mortgage !

    I have no idea how they obtained my details, however (I cannot stress this enough) STATE THE CONVERSATION IS OVER, CLEARLY ANNOUNCE NEVER CALL ME AGAIN AND PUT THE PHONE DOWN !

    If this is the technique they use to attract business, I’m asking myself what they’d be like if they get hold of any of my money !!!????

    A rule of thumb that has always served me well…. never buy from a cold caller !

  10. Anon

    Are you still maintaining this blog? I’ve had issues with Welbeck – it’d be great to discuss if you had time – please email if so.

  1. 1 Welbeck Group threaten to sue me « Welbeck Group, I want my money back!

    […] The Welbeck Group-Why I wish I’d never given them a penny […]

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