Welbeck Group and How I Got My Money Back From Them

Welbeck Group and How I Got My Money Back From Them

The Welbeck Group, a London-based financial services and wealth management company, owed us some money.

If the Welbeck Group owe you money, here are steps you could take to get it back.
Bear in mind, this will take a rather long time and a good deal of patience.

1. Call the Welbeck Group offices almost daily for approx 6 month to ask for the money.
2. Enlist a third party to make calls for you when your calls are ignored.
3. Obtain the direct line of the office manager
4.  Call her and threaten to go public with the appalling behaviour of the Welbeck Group.
5. Go to the Welbeck offices and demand the money back.
6. On not receiving the full amount owed, start a blog (or you can buy this one)
7. Wait a year or so until Welbeck get in touch with you about removing the blog.
8. Refuse to remove the blog when Welbeck refuse to admit they owe the money.
9. Get a solicitor when Welbeck send nasty legal letters threatening to sue you for defamation.
10. Hang on to the solicitor until Welbeck start ignoring you again.
10.b Pay the solicitor, becoming further out of pocket thanks to the Welbeck Group
11. Get in touch with the Financial Ombudsman.
12. Find out that Welbeck scheme you’d invested in hadn’t been regulated by the FSA, rendering the FO useless.
13. Go online and get the forms to start Small Claims proceedings.
14. Send an email to the Welbeck Group troubleshooter asking if they would like to try to settle the matter one last time before going through the Small Claims Court.
15. Get ignored by Welbeck again.
16. Spend a good month or so to and fro-ing with the Small Claims Court.
17. Get your claim for the money sent off to Welbeck.
18. Wait one week.
19. Get a nice signed letter- ‘Yours sincerely, G Knight’
20. Cash the cheque.
21. Gloat.

‘Dear Ms *********,
Further to proceedings that we have now received, you are aware that our records do not show that you are entitled to the sum claimed or any other sum. However, entirely without prejudice and to conclude the matter we enclose cheque in the sum of £2307.25.’

Thanks Mr Knight, so terribly kind to give us money you don’t actually owe.

How very Welbeckian to the end.

Case closed.

Blog still open.

  1. chris

    Congratulations and well done for battling so long for what was rightfully yours.

  2. Mary Murray

    It’s about time Welbeck did the right thing. Its a shame you had to wait so long for them to right this wrong. I would certainly think twice before investing my money with them.

  3. Catherine

    Check out this blog about THIS blog


  4. Bob

    Congratulations. I have a meeting set up for tomorrow with these guys. I will certainly NOT be going now I have read all about them on your blog.

    Thanks very much for highlighting all the issues you have had and saving others from going through the same.

    • jasminewetcocker

      Hi Bob,

      Glad the blog was of help to you.
      These guys really were a pain in the a**e to us for the last few months and really difficult to deal with.

      I hope it stops a as many people as possible from having anything to do with Welbeck.

      All the best

  5. skippy

    I had an appt with them too- I wont be going either – thanks for saving me a load of agro

    • jasminewetcocker

      Hey Skippy, you’re welcome!

      • skippy

        I cancelled my appt, they just didnt get it talk about pressurising you into going the guy called my office a number of time and wouldnt leave a message, seems they are keen to talk to you on some occasions.

        I didnt realise they cold called, but the patter on this site from ex employees was the same script they fed to me, they told me that they worked with others in my office perhaps to lull me into a false sense of security but after a quick survey today they dont work with anyone on my floor.

      • jasminewetcocker

        I’m sure there will be more canceling their Welbeck appointments, too.

        I think my partner was cold called, and that’s how she got entangled with them.

        Obviously there are people how have had a good experience with Welbeck, but after what we had to put up with from them, I couldn’t recommend them to anyone.

        Plus, if the kind of person they have in their office is one who leaves stupid comments all over a blog and is too DUMB to understand their IP address can be traced, then I’d stay as far away as possible.
        Who wants to be tarred with the same brush?

  6. Johnathan

    So what the welbeck group have done is caused themselves 2 years of terrible pr, ruined their reputation as a trustworthy company, become malicious with their own employees commenting on this blog and to top it all off it’s going to have cost them so much more than if they had acted in the way that any company should have in the first place. Well done Welbeck!

    • jasminewetcocker

      Hi Jonathon,
      Thanks for your comment.
      They did behave appallingly and reaped the reward of some very bad PR.
      I hope the blog acts as a warning.

      Silly, really, all Welbeck had to do was apologise, admit they owed the money, and then pay it up.

      We are still out of pocket for the legal fees we paid, but in some way it’s been worth it to warn people about them and to gain this little victory over them.

  7. graeme

    surely anyone with and true client care would have left this firm to work for someone with a much more credible reputation. I wont be dealing with anyone from here and dont know why anyone else would

    • Jasmine

      Thanks for your comment Graeme.

      Welbeck Wealth didn’t show any client care at all in relation to us.
      I wonder if this blog will in anyway change them.
      I doubt it seeing that right to the end of this drawn-out saga they couldn’t admit that they had done anything wrong by withholding the money.

  8. graeme

    I have been doing a bit more research and it would seem the whole company has been built from a worrying background. Greg Knight has worked for City Financial and although in one article is quoted as saying he didnt like the “management style” of the firm, it would seem as though he has just simply repplicated this by (in his words) taking on “young and ambitious.” employees. Although I do agree with these qualities to a certain extent, based on what I have read here, not only from yourself blogger, but also countless people who have been cold-called. Any quality past these two afroementioned dont seem to exist. Surely a dedicatio to customer care and due diligence should also be important?

  9. Daniel

    I think you are right in keeping this blog open and I cant believe it was ever taken down…consumers should be allowed to konw potential risks associated with specific companies. Well done blogger!

  10. Catherine

    Yes indeed the saga continues with WordPress taking the original blog down. However we have been allowed to continue having the blog under a different name and hope that eventually it rises again to the top of the Google rankings.

    Whilst the Welbeck Group eventually coughed up the money they owe us, we have still incurred solicitors fees due to the Welbeck Groups’ defamation and malicious falsehood claims against us which they subsequently dropped. In addition we feel that, as there appear to be very few web sites of reviews of the Welbeck Group, this blog still serves a purpose for those people who are cold called by the Welbeck Group and then want to undertake due diligence before deciding whether to do business with them or not.

    It is of course entirely up to the reader whether what they read here deters them from doing business with the Welbeck Group -whatever floats your boat as the saying goes – but at least by maintaining this blog the reader will know what happened to us and make an informed decision. If there is anyone out there who has had a great experience with the Welbeck Group, then of course you are perfectly entitled to add your comments. We believe in free speech and fair comment and it is precisely because we do that we have persevered and kept this blog going, despite the hurdles. At least WordPress have not censured us completely and are allowing us to continue, albeit under a different name.

    In addition other people, not connected with the Welbeck Group but who have had similar treatment by other companies have found us, posted comments and gained useful information from what they read hear. This is another excellent reason for maintaining the blog and, you never know, it may develop over time and become a very important general consumer complaints resource.

    Thanks for everyones support and please keep it up! We need you to post comments and read this blog to keep it alive.

  11. Catherine

    The current Wikileaks revelations and particularly the US Governments attempts to close the site down is highlighting the issue of freedom of speech and the internet. Does the public have a right to know about these documents and is it right for the US Government to try and censor this information by getting the Wikileaks site removed?

    Although on a different scale, we have faced similar problems with this blog. The Welbeck Group have attempted to get rid of this blog by firstly offering to pay us to take it down, then threatening to sue us for defamation and malicious falsehood and thirdly by getting Word Press to remove the original blog. Do they have the right to censor the information on this blog just because they don’t like to be criticised? Indeed does any company have the right to censor what is written about them on the internet?

    In new media circles, this is a hot topic. We have been interviewed by a journalist on this very subject regarding this blog. Legally it seems that bloggers can make defamatory statements in blogs as long as they are true and fair comment. But should controversial web sites or blogs be removed by the hosts? Our original blog was deactivated but we were allowed to re-activate it under a different name. Not a disaster as the blog is still alive but we now have to work at getting it back up the listings so that people who want to review the Welbeck Group can find this blog easily. We are not attacking the Welbeck Group, we are just providing information on our experience so that anyone looking for reviews of Welbeck Group can get a balanced view on them.

    The public have a right to honest information both good and bad so that they can make an informed decision.

  12. Scott

    I have a Pension and an ISA set up through Welbeck – the money will be with the pension and isa provider not welbeck themselves – do I have anything to worry about?

    I’m hoping not after seeing this site.

    PS I was cold called by a trainee but then thats fine as I had a need and the timing was right (I work in sales and there is nothing wrong with a bit of cold calling) and it was a Senior guy I met when I went for a meeting – I needed a pension and isa so until now I thought I have been provided with a good service?

    • Hi Scott,
      Thanks for commenting.
      In regards to whether you have something to worry about with the Welbeck Group, if they are treating you okay, maybe not.

      Basically, when they got money from my my partner, they were fine, it was when they had to give some back that they got nasty.
      And I mean really nasty.
      My dealings with them were amongst the most unpleasant of my life, I kid you not.
      I think the fact that they ignored my partner for months on end, threatened to sue us when they had no case, refused to give back money they owed until they were threatened with court, shows what they are capable of.
      The most telling thing about them was that they left idiotically childish and personal comments all over my original blog not realising that I could trace where they came from.
      I’ve also had former employees contacting me about what kind of people they are.
      Personally, I think they should come with a warning label.
      However, they don’t, so this blog acts as one.

      I really hope your association doesn’t end up as badly.

      All the best

  13. Mark

    If you have ISAs and pensions set up through this welbeck group. You can seek another adviser and ask for him to continue advising on your policies. I wouldnt be surprised if you could find going to someone else who is indenpendent not multi tied you will get a lot more options at a lower charging structure to you. It’s worth keeping your options open.

  14. Thanks for the information Mark.
    I hope some readers might find that useful,

    all the best

  15. David

    I was also cold called by a trainee and came in on the back of the call just to see what it was all about. They seemed very professional (from my experience) and did not pressurise me to act on any of there advice. I actually went back to them to set up a pension amongst some other things and have been pretty happy throughout. Reading this blog did worry me at first but too be honest all companies make mistakes along the way, think of Goldmans for goodness sakes. I can’t imagine the Welbeck Group would be able to afford their top spec offices if they conduct their business in the way described in this blog.

    • Hi David,
      Thanks for your comment.
      I’m pleased for you that your experience with Welbeck was more productive and less stressful than mine.
      I’m sure Welbeck have a lot of satisfied clients.
      This blog is about my experience with them.
      I’m sure you’ll understand from Welbeck’s idle threat to sue for defamation that there is nothing in this blog that is not 100% true.
      Otherwise I’m sure, to protect their name, they would have carried out their threat and I would have had to give them lots of money if they’d won.
      In fact, what happened was that they sent US some money, the money they’d originally denied owing.

      Maybe they have top spec offices, but they certainly didn’t have top spec customer service nor top spec bookkeeping when dealing with me.

      All the best.

  16. Thomas

    It is all very well people having a good experience with the Welbeck Group but it also has to be remebered that when things turn bad that they seem to have come out on the offensive. They work in an industry where a client-adviser relationship is the only thing which keeps a business like them going. The issue to really consider is what happens when the next client of the Welbeck Groups has a complaint? Will it be the same agression and bullying tactics? In my personal opinion why chose or stay with a firm where there exists this element of risk?

  17. Anon

    It would appear that some of the members of the company have either broken away and formed their own practice or else that the company has rebranded itself as The Penny Group just up the road.

    I have no idea if the service would have been any good or not but several pages worth of negative comments on this blog warned me and I canceled my appointment, having felt highly pressurised into having one in the first place via a lot of cold calling at work via LinkedIn.

    thanks you so much for the heads up!

  18. Sceptic

    mmm interresting stuff.. Ive been cold called by Wellbeck and made and appointment.. not so sure i want to keep it anymore.. But then again it could have just been a bad experience for a few people. .Do we know of people that had a good outcome dealing with Wellback?

    • Hello Sceptic,
      I’m sure there are people who have had very good experiences with the Welbeck Group.
      My only advice would be that there are probably a lot of other companies that offer the same kind of services as Welbeck do, but they don’t have a blog written about them like this one.

      If you do go with them, good luck.

  19. Hi howigotmymoneyback

    I would like to share my experiences with this firm as I feel anyone thinking of dealing with them should know. Is there anyway to get in touch with you directly before making the information public?

  20. bognorboy

    Wow. Almost 2 years to the day you finally got your cheque back, I come across your blog.

    “Dear Welbeck, I am afraid I am unable to make my appointment next week. I won’t be rescheduling. Yours sincerely.”

    Seriously, if they can let one person go through this and frustrate you to the point that the only option is to write a blog, I really don’t want to risk being the next to go through this. One-offs become two-offs…etc.

    You saved my bacon! Kudos.

    PS. Great blog.

  21. hmb

    Thanks so much for this blog – just got a very slick cold call from them where they claimed they worked as individual advisors for some of my work colleagues, that they could look for ways to help save on my mortgage etc etc.

    Will be calling back to tell them I am not keeping my appointment due to the horror stories I have read on the web about them.

    • HMB, thanks for your comment.
      I think of this blog as a wee bit of public service.
      But it was set up out of pure frustration at being ignored by Welbeck.
      Perhaps they have changed their ways, but I would hate anyone take to have to put up with what we had to get money back from them.
      The Lloyd Walker referred to in this blog also worked for Welbeck.
      2 reasons to not get involved with them.
      I’m glad you came across the blog and good luck.
      All the best.

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