Hi does anyone have an experience with skybound wealth management? My partner signed up with them some years ago and the investments have never made a profit due to high fees and poor performance. Is there a way to cancel the product on those grounds? Or any advice on how to optimise a portfolio with them? Thanks in advance.
Why can’t you cancel it straight away and move on?
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There are penalties to pay
How high?
Usually it’s better to just cut stuff like this off and live with the penalty instead of hoping to recoup.
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How much was the opportunity cost so far (fees, etc.) compared to the penalties?
How high is the invested sum compared to overall wealth?
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Never heard of your “friend”, but with any newbie recommending and linking an investment manager their very first post on an online forum - I would be super suspicious.
(..as well as having a website that lists neither company name, person’s name, physical address nor registration with financial regulators)
The website has been around since 2021. So at least it’s not 100% fishy. But yea, it looks also a bit fishy to me.
https://web.archive.org/web/*/https://www.skyboundwealth.com/
https://www.skyboundwealth.com/offices
IMHO, the most important point hasn’t been mentioned yet: Read the terms and conditions and contract documents first. Questions like this are usually addressed there. Also fees etc.
@markus654 To clarify: I was replying to someone else’s post/link a post that got flagged and deleted in the meantime (not about skybound).
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