Columbia Threadneedle Investments Omdömen 

Columbia Threadneedle are the most unhelpful company I have any savings with. They don't seem willing, or is it able to support customers. Other companies are proactive and helpful. It makes me feel that all they want to do is hang on to my money and make withdrawals as difficult as possible. I regret the day I started to invest with them.

They litterally steal money from babies. What else could you possibly need to know?

Having read the news today, I am amazed a company can turn £300 per child saving into £13 in 11 years. Wow! That’s some investment model unless…. Hope the regulator gets their teeth into this.

[This is an updated review] We recently contacted Columbia Threadneedle to 'cash in' our shares in a JIA we had started for our son 18 years ago. Initial experience was poor and as everyone else here, I imagine, we 'googled' for reviews about CTI and saw the string of one-star reviews. In actual fact there are two sides to this, and our case was resolved superbly! Hence I want to call out to anyone reading this, do not be phased by the Customer Service person answering your call. Instead insist that you want them to refer to the Resolutions and Specialist teams and add that you will raise a formal complaint. That gets their attention and gets your case looked into by a team who are experienced and experts in dealing with complexity and detail. We received a call from the resolutions team and they were extremely polite and very clear about how our case would be resolved. Our case was resolved promptly (with no added hassle to us) and to our satisfaction, thank you Jessica. Some feedback to CTI, you need to better train some of your front desk staff to not use language that is intimidating and worrying (e.g.: one of the associated names on the account has failed identity verification, and they will need to pass ID verification by sending notary or post office certified copy as proof of identity and address... BOOM!), this kind of language causes customers unnecessary stress. Given that CTI's own resolutions team explained that there was a perfectly legitimate reason to address the issue in this particular case. Also please update your forms, Banks do not issue cheque books any longer!

AVOID AT ALL COSTS

An absolute joke of a finance company.
DO NOT trust them at all.
It's taking weeks to get our daughters CTF monies back from them on maturity with more excuses than ever to prevent them transferring what is rightfully hers!

There are so many issues with withdrawing. I complained till i found an avenue to report. Check my display picture. Get your issues resolved my reporting.

No way to contact them
Sent recorded letters to both addresses

Was told to Send a letter with photo ID from account 212042172
P O BOX 11114
Chelmsford
CM99 2DG
Letter with driver license posted 02/09
LETTER was delivered on 4/9/24 signed by SATHEESH

PO Box 10033
Chelmsford
Essex
CM99 2AL

I have been with this company for several years, including when it was BMO and before. I recently received a letter, dated 11 Sep, informing me that they were changing to paperless correspondence and that if I wanted to continue to receive paper then I needed to change the correspondence preference on their website. I tried to do this but there was no such option. I sent them a secure message and received the response that that option would not be implemented until the end of September 2024. Why did they not specify that date in their letter? Wasted my time and that of anybody else who tried to make a similar change. This is not good customer relationship.

Our investment was for long term, and receiving statements. But since we didn’t access their website for our account in a 2 year window they submitted the balance to Maryland Unclaimed Property. The last communication with MD stating potentially another 12 weeks. This started 10/19/2022

This is having a significant impact on lost income potential! We believe this unethical!

As with all other reviews below, it is excessively difficult to withdraw money. I live overseas and had to verify my address and bank account three times, each time by snail mail to the UK. The first time it was returned to me, and after some time of nothing happening, had to call them in the middle of the night, to find that they have two addresses, and the return address wasn’t the right one. After that, they didn’t properly verify it, so I had to send it a third time.
Then they wouldn’t accept my bank account, then wouldn’t send a cheque overseas, then wouldn’t accept a different address to send it to, and only finally sent it after threatening to make a complaint. I then had to physically send the cheque back to the UK to cash it in, and by the time I finally managed to get the money out of the country, had lost over £4,500 due to the exchange rate changing.
It took me over six weeks to get the money, and I was forced to take out a loan to meet financial obligations as they had refused to release the money. In addition, after finally agreeing to release the money, they didn’t send the cheque for 7 working days after closing the account (apparently their policy), which is illegally using money that isn’t theirs to boost their bottom line.
In summary, their policies are dodgy to say the least, their procedures and website are a joke, and their customer service is terrible
Avoid this company at all costs if you can. If I could give 0 stars, I would.

My daughter received her Child Trust Fund cheque in early April 2024 (we have been living in Canada since she was 3 years old). They refused to wire the money, insisted on sending a Sterling cheque. She banked the cheque in Canada in April and CT claim that they released the funds to her Canadian bank in early June 2024. Here we are, almost early September and she hasn't received the funds (and needs to pay her university fees in 6 weeks time). We need urgent clarification from CT that they indeed wired the money to the correct account, and help with tracing the wire.

I needed to help my father, who I have PoA for, to transfer some of his CT investments to another provider. I spoke with Brandon a few times (there was a problem with the PoA on our end) and he was really helpful and friendly, and explained everything for me. Although the CT platform is dated in comparison to others once the PoA issue was sorted then the transfer instigated via another platform was then sorted within 24 hours.
Customer service was quick and efficient and each time I rang the call was picked up almost immediately which I really appreciated given that with most companies today you’re held in a queue.

Columbia operations include investment trusts and schemes, inherited from F&C. These can provide good value investment such as their Junior Investment Account. Unfortunately some of the administration is cumbersome and has not transferred smoothly to the digital age, which, understandably can be frustrating, particularly if you need to meet compliance requirements. Never the less, I found it easy to contact them by phone and received prompt and helpful assistance when required.

Horrendous service quality.
Over 6 months to withdraw funds and close account

Everytime requirements are complied with they change them. I am now starting legal action

Avoid like the plague

If I could give CTI a negative rating I would!
This company is an absolute disgrace. Their systems are illogical and archaic and their customer ‘service’ advisers are rude and supercilious. Plus their charges are sky high. Trying to withdraw/transfer my son’s matured Child Trust Fund from them has definitely had an air of the trials of Sisyphus about it. I feel too depressed to go in to the details, but would probably have had a much jollier time banging my head repeatedly against a brick wall. Needless to say my son still hasn’t received his money and I wouldn’t touch CTI again with a 20 foot barge pole. Arrrggghhh!!!!

Literally have the worst website known to man, completely unusable - little to no features on it at all. I strongly urge anyone to use another investment site, how these guys are in business is a puzzle to me.

My daughter (aged 18) has tried, over the past 6 months, to withdraw her Child Trust Fund balance.

Sadly, Columbia Threadneedle has made it as hard as possible for her to verify her identity.

Why?

Because as soon her identity is verified, like 99.999% of all Child Trust Fund customers, she's going to take her money out of Columbia Threadneedle.

When this happens, Columbia Threadneedle will no longer make a commission on her CTF investments.

Why (WHY?) did the government pick this backstreet, underhand company to manage and administer CTF accounts?

I gave these guys 1 star, as zero wasn't an option. Their charges on my daughter's Child Trust Fund were astronomical. The worst I have seen for any financial product I've seen in 20 years. I've finally got around to moving it to a junior ISA with Hargreaves lansdown. I should have done it much sooner, as the fees have essentially deprived her of several years growth. Even their literature about closing the account has been confusing and opaque. HL on the other hand have been incredibly clear and proactive throughout the transfer process. They also have fees that are a fraction of Columbia Threadneedle.

I am the executor for my uncle's estate and he had a small $2,500 account with Columbia Threadneedle. I have submitted a Redemption Request Form three different times and continue to get rejected. When a Medallion signature is required it is very time consuming. I have complied 100% with each rejection letter, only for them to find another item that they say is incorrect. They seem to be doing everything possible to not release this money to the estate. I am about to give up and file a complaint with the CFPB as my continued efforts are really not worth the effort. Do not use this company. My uncle's estate is worth several million and have had no problem redeeming his other accounts.

It’s hardly surprising there are so many child trust funds unclaimed !! We ve been trying to close my sons fund and have money transferred to his account absolute nightmare !! They make them jump through hoops he paid the post office to verify his ID and now still can’t gain access to it !!! Absolutely disgusting I would never EVER recommend Columbia Threadneedle !!! Disgusted !!! My son tried calling they kept him on hold for 20mins t until they closed at 5.30pm I will be taking this further !!