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Report: #1225177

Complaint Review: AES Middle East Insurance Brokers LLC - Dubai Nationwide

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  • Reported By: Anonymous — Dubai UAE
  • Author Not Confirmed What's this?
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  • AES Middle East Insurance Brokers LLC Emaar Square 5th Floor Building 6 Nationwide United Arab Emirates

AES Middle East Insurance Brokers LLC Ripped off by Andrew Jarvis Dubai Nationwide

*Author of original report: Incorrect Assumption of Liability

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In August 2009, I opened a savings account with Mr. Andrew Jarvis, who was at that time working for Global Eye, a Financial Planning and Wealth Management company here in Dubai. At that time I had a lump sum that I wished to invest and wanted to make monthly contributions in order to build up the value of my account for future use. Mr. Jarvis advised me to open 2 separate accounts. One Managed Capital Account and one Managed Savings Account. I didn't understand why 2 accounts were necessary and when I asked Mr. Jarvis, he didn't provide a reasonable explanation. Since he was represented himself as a Financial Advisor, I took him at his word and did as he advised. These accounts were opened with Royal Skandia, which is now Old Mutual International.
 
Over this past 6 years, at no time have my accounts been profitable. Mr. Jarvis wouldn't even ever contact me to review my accounts and I only met with him when I initiated a meeting. 
 
Now that I want to close these loosing accounts and reallocate those funds into real estate, I'm told that I cannot have 100% of my money. This was never explained to me, even when at the beginning in 2009, I told Mr. Jarvis that I had specific goals mainly which were a) the preservation of my capital, b) maximum returns on my investments and c) access at anytime to my money. 
 
Mr. Jarvis is now employed by AES International, but still services my accounts with Old Mutual International. 
 
I’ve tried everything I can to resolve this issue amicably and have filed complaints with all the proper agencies, but I’m getting referred from one department to another without any resolution in sight. I’m even contacting an attorney and trying to prosecute Mr. Jarvis for fraud, and while this is in my opinion is something that I should do, it will not expedite a resolution to my dilemma.
 
Stay away from these schisters! Stay away from Mr. Jarvis. He scammed another friend of mine too.

This report was posted on Ripoff Report on 04/27/2015 12:45 PM and is a permanent record located here: https://www.ripoffreport.com/reports/aes-middle-east-insurance-brokers-llc/nationwide/aes-middle-east-insurance-brokers-llc-ripped-off-by-andrew-jarvis-dubai-nationwide-1225177. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
1Author
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#1 Author of original report

Incorrect Assumption of Liability

AUTHOR: - ()

POSTED: Thursday, April 30, 2015

This report is an update to the one filed previously regarding AES Middle East Insurance Brokers LLC. To set the record straight, AES Middle East Insurance Brokers LLC was not the selling agency which sold the bad investments. Mr. Jarvis, the Financial Advisor was employed by another company at the time he sold these investments. Mr. Jarvis left that company and went to work for AES Middle East Insurance Brokers LLC.

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