How much do Blackmore Bonds pay Surge Financial as Fees?
The last accounts for Blackmore Bond plc are only submitted to 31 December 2017 so we have no information yet about their latest financial year.
However the information for 2017 gives some insight into the company which made a loss of £7.6 million having sold bonds to investors worth some £25 million. It's clear from the accounts that Blackmore Bonds pay Surge Financial significant amounts for introducing investors
On bond sales of £25 million, Blackmore Bonds paid Surge Financial £5.1 million. This almost exactly matches the 20% alleged for LCF and is a substantial chunk of investors money going out before even being invested and means they need to grow their assets at an even higher rate to recoup the 20% Surge deductions before getting 8% interest.
If you are in any way unclear about this the accounts are very clear that Blackmore is entirely dependent on new investor money to continue in operation. This sounds very similar to LCF that went into administration in Jan 2019.
However the information for 2017 gives some insight into the company which made a loss of £7.6 million having sold bonds to investors worth some £25 million. It's clear from the accounts that Blackmore Bonds pay Surge Financial significant amounts for introducing investors
https://beta.companieshouse.gov.uk/company/10273135/filing-history
"The loss of £7.6million has primarily arisen from the charging of distribution fees by our partner Surge Financial"
On bond sales of £25 million, Blackmore Bonds paid Surge Financial £5.1 million. This almost exactly matches the 20% alleged for LCF and is a substantial chunk of investors money going out before even being invested and means they need to grow their assets at an even higher rate to recoup the 20% Surge deductions before getting 8% interest.
Anyone considering investing in Blackmore Bonds should already be aware that it is an investment where there is a risk of losing 100% of your money.
If you are in any way unclear about this the accounts are very clear that Blackmore is entirely dependent on new investor money to continue in operation. This sounds very similar to LCF that went into administration in Jan 2019.
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