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Moneycube Financial Services

  • 11-11-2018 6:22pm
    #1
    robbina123
    Registered Users Posts: 8 ✭


    Hi, anyone any experience / knowledge that they would be willing to share? Very little info online - no reviews so to speak of.

    moneycube.ie


Comments

  • #2
    daheff
    Registered Users Posts: 5,833 ✭✭✭daheff


    haven't heard or used them. Website is short of details on what exactly they do. But the have contact details & claim a number of links to various statutory bodies, so should be easy to validate if they are genuine or not.


  • #3
    RobinPearson
    Closed Accounts Posts: 12 ✭RobinPearson


    They are financial advisers and selling various investment funds. Basically affiliate business, just adding technology flavor to look modern :)

    "We have relationships with all six life assurance companies which offer investment funds in Ireland. (That’s Aviva, Friends First, Irish Life, New Ireland, Standard Life Aberdeen, and Zurich). We also work with Conexim, who provide access to more than 4,500 international funds."


  • #4
    robbina123
    Registered Users Posts: 8 ✭robbina123


    RobinPearson wrote: »
    They are financial advisers and selling various investment funds. Basically affiliate business, just adding technology flavor to look modern :)

    "We have relationships with all six life assurance companies which offer investment funds in Ireland. (That’s Aviva, Friends First, Irish Life, New Ireland, Standard Life Aberdeen, and Zurich). We also work with Conexim, who provide access to more than 4,500 international funds."

    Their fees are quite favourable compared to others ...just a little worried in case they are not around in a few years!


  • #5
    robbina123
    Registered Users Posts: 8 ✭robbina123


    daheff wrote: »
    haven't heard or used them. Website is short of details on what exactly they do. But the have contact details & claim a number of links to various statutory bodies, so should be easy to validate if they are genuine or not.

    Would you have any idea where one stands if a company like this (with who you have managed funds) goes under?
    Thanks


  • #6
    daheff
    Registered Users Posts: 5,833 ✭✭✭daheff


    robbina123 wrote: »
    Would you have any idea where one stands if a company like this (with who you have managed funds) goes under?
    Thanks

    I suppose it depends on how the investments are structured. If they are investing on your behalf in another investment vehicle (ie they are listed as owners of the investment on the investment vehicles books) then you might have issues retrieving all your funds.

    However, if you are listed as the owner, then if they go bust your investment is safe.

    As they are registered with central bank, I'd hazard a guess that they are investing the second way.


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  • #7
    The J Stands for Jay
    Registered Users Posts: 5,645 ✭✭✭The J Stands for Jay


    robbina123 wrote: »
    Would you have any idea where one stands if a company like this (with who you have managed funds) goes under?
    Thanks

    They seem just to be a traditional broker that are advertising that they use technology to keep you up to date with your investments. As such, their going under would have no effect of the policy you buy from whichever life office.


  • #8
    dazzday
    Registered Users Posts: 696 ✭✭✭dazzday


    Sorry to ump an old thread, but just wondering has anyone had any experinecs with Moneycube.

    https://moneycube.ie/

    As stated their fees seem reasonable (Between 1% and 1.5% a year all-in for financial advice, fund management, and platform/ trading costs)


  • #9
    Ixlandia
    Registered Users Posts: 68 ✭✭Ixlandia


    Hi Dazzday, I was looking into this over the last while, I too am wondering about whether to invest with them.

    Has anyone else any experience of using moneycube?

    Ix


  • #10
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,981 Mod ✭✭✭✭Jim2007


    Ixlandia wrote: »
    Hi Dazzday, I was looking into this over the last while, I too am wondering about whether to invest with them.

    Has anyone else any experience of using moneycube?

    Ix

    I have no actual experience of them, but the website gives me some cause for concern because it is very hard to tie down exactly what they are actually doing...

    I have a suspicions it's a fund of funds based on third party funds and if so it could prove to be a very expensive exercise.

    If it were me, I'd want to hear from them about who takes the fund of fund cost, you or them. Confirmation that they are not receiving any type of retro fee etc....

    And for what they seem to be offering it seems expensive.


  • #11
    FLOOPER
    Registered Users Posts: 795 ✭✭✭FLOOPER


    Jim2007 wrote: »
    I have no actual experience of them, but the website gives me some cause for concern because it is very hard to tie down exactly what they are actually doing...

    I have a suspicions it's a fund of funds based on third party funds and if so it could prove to be a very expensive exercise.

    If it were me, I'd want to hear from them about who takes the fund of fund cost, you or them. Confirmation that they are not receiving any type of retro fee etc....

    And for what they seem to be offering it seems expensive.

    Hi,

    Can you make any recommendations on where to get independent legit advice on fund investments.

    Thanks


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  • #12
    The J Stands for Jay
    Registered Users Posts: 5,645 ✭✭✭The J Stands for Jay


    Ixlandia wrote: »
    Hi Dazzday, I was looking into this over the last while, I too am wondering about whether to invest with them.

    Has anyone else any experience of using moneycube?

    Ix

    From looking at their website, they're just a run of the mill broker who sell life assurance company policies. Cost seem normal enough for the market.


  • #13
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,981 Mod ✭✭✭✭Jim2007


    FLOOPER wrote: »
    Hi,

    Can you make any recommendations on where to get independent legit advice on fund investments.

    Thanks

    Sorry, no. I don't have any experience of consulting such organisations.


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