Mattioli Woods Reviews 110

Absolutely shocking customer service. They have a portal where you can access your funds and invest etc. I have been trying to contact them every single day for 2 weeks as their system won't let me in. The registration for the portal is not working. At this point I feel like they are deliberately blocking access to my funds. Outside of this the experience has been terrible, full of red tape and beaurcracy a department for everything and no real answers or advice. One of the worst decisions I have ever made and my fund will be taken out as soon as they give me access.

What a shower of shit. My pension should be paid on the 29th of every month. December 29th? Nothing. ‘Oh, Xmas holidays were the problem’. Really? Automatic payments don’t go out at Xmas? I paid for my beer at a pub on Xmas day and it showed in my account instantaneously, but at MW the system shuts down over Xmas? So when did I get my pension? The 30th or 31st? No. 1st January? No! That’s a public holiday and the bank shuts down- except when recording my beer transactions, again. 2nd, 3rd, 4th, 5th, 6th, 7th, 8th? No. Why? Oh, ‘a combination of public holidays and staff annual leave’. I finally received my pension on the 9th January, 11 days late. No apology, just pathetic excuses. MW are a pathetic shower of shit

Worth while checking out Feefo and VouchedFor reviews.

MW must be amongst the worst pension trustees out there, their service is appalling. Aside from them charging eye watering fees which are 1. not transparent, 2. are more expensive than others and 3. go up well above the rate of inflation every single year without any advance notification, their customer service and antiquated methods of business are more in keeping with the Dark Ages, rather than a financial institution operating in the 21st century. When I transferred in a large pot some years ago, MW faffed about so much with their unnecessary delays that my time out of the market cost me a 5 figure loss to my pot. A complaint is ongoing for this issue, now with the financial ombudsman. Now, in trying to transfer my pot out to go elsewhere [in pursuit of decent service and fair and transparent charges], these fools are trying to insist that we sell down all our units, wait for them to send us a cheque, send that cheque to new provider, await cheque to clear so we can buy EXACTLY the same products again. Unlike most DECENT AND REPUTABLE providers out there, MW seem completely unwilling/unable, in keeping with their appalling levels of service, to effect an "in specie" transfer, to simply move the products across to our new provider, without the need to sell down, then re-purchase days or weeks later. If you are reading this review as a consideration before using or engaging with MW, then PLEASE, find another provider who will value your business and give you a level of service you deserve rather than using these rip off merchants.

Mattioli Woods SIPP is proving a nightmare!

I've just counted that since 5 April 2022 I have written 30 emails to this firm and probably made as many phone calls. As at today, I still have no clarity on the precise amount of money held by Mattioli Woods in my name. Apart from a small amount (of less than £1 500), over the past four months I have not been able to withdraw funds which I know to be available and which are kept by Mattioli Woods on my behalf in a so-called "flexi-drawdown" on a current account. Initially communication with the firm was fine. However, my contact, who was a helpful and knowledgeable client service agent, left the firm in Autumn 2022. Since then it has been almost impossible to reach anyone on the phone, other than the general reception. My calls and emails frequently go unanswered. The responses which I have received have promised action "by the end of this week" or "by the end of next week" but no action is taken. The firm has asked me to resubmit forms, which I already submitted a few months previously. In current times Mattioli Woods should offer all its account holders online access to allow real-time account monitoring. For some reason they are unable to offer me such service (or my brother, who is in a similar position). Our father originally engaged this firm to hold a SIPP for him. However, he died on 1 March 2022, leaving 1/3 rd share in his fund to his three children, myself, my brother and my sister. We obtained probate a year ago. It does not need a year to make a simple pay-out of funds held on a current account. It does not need 17 months to inform beneficiaries of the amounts held in our name.

I recently wrote to Mattioli Woods' Managing Director, Michael Wright, explaining my experiences. The firm has now promised to conduct an unbiased investigation of my complaint within a statutory period of eight weeks. I hope this will lead to clarity and allow me to finally access my money. Pending the results, I am poised, together with my brother, are ready to submit formal complaints to the Financial Pensions Ombudsman and the Money and Pensions Service. We see no other way forward. I want to give Mattioli Woods a last chance to get their service together.

The past months have been challenging, and have required large amounts of time to grapple with this faceless and unresponsive bureaucracy. Within the family we trust that we are not part of an organised pension scam, but with customer service being almost non-existent and sometimes downright misleading one does begin to wonder.

Absolutely appalling. As a long-standing client of some 20 years, I decided to change financial advisors due to poor quality of service from this company. They not only lost my documents, but made the transfer as difficult as possible and made all sorts of pathetic excuses. In the end, I had to get the Financial Services Authority involved to resolve the matter.

Outrageously expensive (£250/hour for a secretary) and still rubbish unless you drive them really hard and threaten to take your money away. This came to light when I discussed consolidating two other pensions into the one I hold with Mattioli Woods and my financial adviser refused to do it because their outrageous fees meant it would not be in my best interest.