Why are you blocking transfers to WealthKernel?
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Why have you been carrying out delaying tactics and now completely blocking transfers to WealthKernel?
Other providers have had no issues transferring funds, but you are actively blocking them.
I had no intention of transfering my holdings away from here, but this sort of nonsense will give me good reason to, how can I trust a company that's doing this without a very good reason.
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Ronski
There has already been a lot of speculation and accusation in other channels around this.
Cobens have not and indeed could not delay or reject transfers to another provider. This falls to Quai/IM.
As an FCA authorised and regulated firm they would only do so with good reason and that would ultimately have to be justified to the regulator if required.
Any decision will have been communicated to Weathkernal and I understand that Quai/IM have been in contact with them over the last couple of weeks.
Ultimately if either party disagrees with the action of the other it would be taken to the regulator
The two parties that are fully aware of the detail of this are Quai/IM and Weathkernal. Comment from anybody else, is speculation or opinion and Cobens have no desire to add this. -
Quai have confirmed that the transfers have raised several areas of concern which are now under investigation.
The FCA and Wealthkernal have been informed.
The transfers will remain on hold until the investigations are complete.