Savings Explained - Is it an Investment Scam?

By J Drew -
Update - as of March 2020 the Savings Explained website is now offline. Hopefully they didn't attract too many people with their misleading adverts.


A new website called Savings Explained has been marketing on Facebook and printed media recently. Despite the name it doesn't seem to be doing much to explain savings and if anything is making the situation more confusing with their adverts

They claim "Savings Explained was founded with one basic aim – to make savings less complicated"

 If that's the case why are they advertising high risk, unregulated investments from what appears to be a linked company alongside regulated FSCS protected investments. It doesn't suggest that Astute Capital and Savings Explained are a scam but they certainly aren't being very transparent or explaining the risks of investing when they are promoting themselves as SAVINGS explained but plugging investments where your capital is at risk.


Savings Explained reviews
Savings Explained reviews
 The advert above running on Facebook even compares the interest on bank savings with an investment (Stocks & Shares) ISA when the FCA have specifically said that this should not be done.


Anyone wondering about the risks of investing in unregulated bonds that claim asset backing would do well to investigate the situation with London Capital & Finance where the company took £236 million of bond investments only to go bust with investors waiting to find it if they will get any money back.


Comments

  1. Savings Explained18 March 2019 at 08:10

    We have taken your article earnestly and have removed the ad which you mentioned amongst other changes to the site in light of this. We would really like to speak to you further about Savings Explained. Please would you be able to send some contact info to info@savingsexplained.co.uk? Looking forward to hearing from you.

    ReplyDelete

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