"If you have a choice go elsewhere as a client"

Abbey Wealth have never been more than average but have managed to do what I’ve required despite the high turnover of financial advisors (probably not unusual for the industry) and with some heavy lifting by myself. However since the start of 2024 they have completely imploded with mass resignations of advisors and a back office seemingly overwhelmed and largely incompetent. What has really appalled me is their inability to take responsibility for lapses in normal service and the arrogance in their responses to any questions about these lapses. I have another new advisor for the last few months but the back office is the same. This time I won’t wait to see if things will improve and I will terminate my relationship with them.

"Personal Experience Reflects That of Other Reviewers"

I remain a client of Abbey Wealth, despite having raised a pending complaint against them with the Irish Ombudsman for their services. My ‘faith’ in them arises from past good experience. Since the first quarter of this year, I have not had good experience. My past and recent/current experiences seem to be reflected by other reviews here; generally good or excellent before early 2024, almost entirely poor more recently.
Despite keeping a close watch on Trustpilot, I have held back from writing this review until now because I have hoped for a return to pre-2024 performance. However, my most recent experiences have prompted me to write this.
In February of this year, I received an email from the ‘Head Office of CEO’ of Abbey Wealth, telling me of planned changes and that my Wealth Manager (Advisor) had left the organisation, but that a new Relationship Manager would be assigned soon. The same email advised me that the Advisor’s Fee which I pay to Abbey was to be reduced, with effect from June 2024. Having confirmed that the reduced Fee was not to be associated with any reduced service or any other changes (I was actually assured that the planned changes would “add value”), I waited to hear of or from my new Relationship Manager (Advisor) and for the Fee reduction to be implemented.
After a few months, when I had heard nothing on either matter, I followed up. To cut a long story short, my Fee reduction was eventually implemented in October and my second new Adviser has recently begun to restore services to their pre-2024 levels; although there is still some way to go. Meantime, I have taken a greater interest in my pension portfolio than I had previously, to compensate for the lack of oversight and advice that I was receiving. That interest revealed some performance concerns.
It appears to me that the ‘planned changes’ about which I was advised in April, caused a disruption in Abbey Wealth’s organisational competence and capacity from which they are struggling to recover. My tangible evidence of that is the overdue implementation of their promised Fee reduction, despite repeated assurances of action, and the time taken to assign a replacement Advisor. Abbey’s proposed resolution of the Fee matter is what prompted my escalation to the Ombudsman.
Ordinarily, I may have let matters run their course with my complaint before sharing my experiences in this review. However, today, Abbey have accused me of making derogatory comments towards them or about them to others. They have also suggested that I have shared with ‘third parties’ information that I am not “allowed” to. I have done neither of these things and can only assume that they are attempting to discredit me in my complaint against them - a highly unprofessional tactic.

"Incompetent & very poor service"

Abbey Wealth does not even deserve one star. My simple request to withdraw some cash from my Abbey Wealth account has dragged on for months. This is due to their disorganisation, bureaucracy, inefficiency, and perhaps because they stand to gain by delaying my legitimate cash withdrawal request. I am currently arranging a legal claim for compensation. Stay away from Abbey Wealth and their partners (iPensions & Utmost) if you value your savings.

"Financial adviser just vanished"

Financial adviser just vanished. Then a new one. For the last three months, I keep asking to invest my money. I know what I want. Nothing is happening, but they’re happy to charge the yearly managment fee… for doing nothing. Just losing money with them so far. Not even considering inflation. I do not recommend this company at all.

"one star because I can't give less"

one star because I can't give less. Absolutely useless. Don't go there....

"Utterly appalling"

Utterly appalling. Something went wrong late last year and the whole thing has gone into chaos. My advisor quit without notice and I wasn't informed until, after many emails, I called to talk to him. Since then I have had eight different advisors none of whom has ever replied to an email and then just disappeared. The latest from August has also disappeared into, what you are told when you call, is a meeting that appears to have gone on since late August, Now when you call the UK office you get a weak sounding person "I'm called George" who knows nothing and "is a trainee advisor". MY ADVICE AFTER 4.5 YEARS WITH THEM IS CHOOSE ANOTHER INVESTMENT ADVISOR. I AM NOW DEALING WITH MY INVESTMENT COMPANY DIRECTLY.

"Find another provider"

I can only reccomend this company if you really want to see any gains in capital greedily taken in charges, you like to spend hours on the phone, trying to speak to someone, have the blame for any wrongdoings promptly shifted to STM, and have your emails totally ignored.
Like many other people here, my financial advisor left. He/she (I want to protect their identity) called to say that Abbey Wealth was seriously understaffed, putting constant pressure on advisors who had no choice but to resign. Their clients were suffering because no-one was looking after them, and the clients' fees were of the greatest importance, not a tailored portfolio to suit the client.
Trying to get your hands on your own money is near impossible!
I belive that AW is in serious trouble.

"Communication & Clarity of date Change "

I have been advised directly by Abbey Wealth that they changed their quarterly review to annual review in August 2023, however this notification was only confirmed after I asked why my quarterly review hadn’t taken place for sometime,

This information was never advised to me personally, however various individuals have advised to me that this was not actually the case & in fact the review change was declared in December 2023.

Can any individual advise me when Abbey Wealth advised them of the change from quarterly review to annual review?

I’ve now waited over a year for my review & have had no direct contact by any financial advisor working directly for Abbey Wealth’s Spanish office.

I will leave it to others discretion on using their services but communication which many appear to suffer should be paramount when choosing to invest one’s money needs to seriously considered along with any major changes to the service that is provided.

"Hi Abbey Wealth"

Hi Abbey Wealth. We have been trying to contact you. No response to our email. Rang your telephone number all day. No answer. No no 'out off office' reply to our email... are you still open for business?

UPDATE. Have been contacted. They are open for business and have veen very helpful.

"I am very satisfied with the work and…"

I am very satisfied with the work and communications I have had with Abbey over the years and looking at the reviews from some people I would say that this is NOT a good representation of Abbey as a whole.
Catherine Ross and her team are doing an exceptional job over coming the additional requirements and requests from the third parties the delays they are experiencing, although frustrating, the team do a great job and the advice I have been given over the years has been invaluable, I am extremely happy.
Keep up the good work you have my support.