Columbia Threadneedle Investments Reviews 157

Horrendous service quality.
Over 6 months to withdraw funds and close account

Everytime requirements are complied with they change them. I am now starting legal action

Avoid like the plague

If I could give CTI a negative rating I would!
This company is an absolute disgrace. Their systems are illogical and archaic and their customer ‘service’ advisers are rude and supercilious. Plus their charges are sky high. Trying to withdraw/transfer my son’s matured Child Trust Fund from them has definitely had an air of the trials of Sisyphus about it. I feel too depressed to go in to the details, but would probably have had a much jollier time banging my head repeatedly against a brick wall. Needless to say my son still hasn’t received his money and I wouldn’t touch CTI again with a 20 foot barge pole. Arrrggghhh!!!!

Literally have the worst website known to man, completely unusable - little to no features on it at all. I strongly urge anyone to use another investment site, how these guys are in business is a puzzle to me.

My daughter (aged 18) has tried, over the past 6 months, to withdraw her Child Trust Fund balance.

Sadly, Columbia Threadneedle has made it as hard as possible for her to verify her identity.

Why?

Because as soon her identity is verified, like 99.999% of all Child Trust Fund customers, she's going to take her money out of Columbia Threadneedle.

When this happens, Columbia Threadneedle will no longer make a commission on her CTF investments.

Why (WHY?) did the government pick this backstreet, underhand company to manage and administer CTF accounts?

I gave these guys 1 star, as zero wasn't an option. Their charges on my daughter's Child Trust Fund were astronomical. The worst I have seen for any financial product I've seen in 20 years. I've finally got around to moving it to a junior ISA with Hargreaves lansdown. I should have done it much sooner, as the fees have essentially deprived her of several years growth. Even their literature about closing the account has been confusing and opaque. HL on the other hand have been incredibly clear and proactive throughout the transfer process. They also have fees that are a fraction of Columbia Threadneedle.

I am the executor for my uncle's estate and he had a small $2,500 account with Columbia Threadneedle. I have submitted a Redemption Request Form three different times and continue to get rejected. When a Medallion signature is required it is very time consuming. I have complied 100% with each rejection letter, only for them to find another item that they say is incorrect. They seem to be doing everything possible to not release this money to the estate. I am about to give up and file a complaint with the CFPB as my continued efforts are really not worth the effort. Do not use this company. My uncle's estate is worth several million and have had no problem redeeming his other accounts.

It’s hardly surprising there are so many child trust funds unclaimed !! We ve been trying to close my sons fund and have money transferred to his account absolute nightmare !! They make them jump through hoops he paid the post office to verify his ID and now still can’t gain access to it !!! Absolutely disgusting I would never EVER recommend Columbia Threadneedle !!! Disgusted !!! My son tried calling they kept him on hold for 20mins t until they closed at 5.30pm I will be taking this further !!

My sons Child trust finish with BMO which has been overall good but CTI who has required his ISA seems like a con. Over 4% cost, there is something really unprofessional going on here?

We had kids CTFs & JIAs with F&C, which seem to have bounced around a few companies and ended up owned by CT.
I checked the annual statement yesterday - fees were 4.6%!! No wonder the performance is woeful
I am starting the transfer process today but from the reviews above am not hopeful.

Holding on to my son’s money as we speak. ‘The cheque must have got lost in the post’ who sends a cheque in 2024??
He turned 18 in November 23, we started the withdrawal process in December. It’s now Feb 21st. She said if you haven’t received it by March 8th ring us back and when my son queried the delay she said ‘it’s Royal Mails fault’ Absolutely disgusting and bad customer service. I would not recommend this firm to anyone.

Just like everyone else i have the same problem with trying to withdraw money from this disgrace of a company...
They request proof of ID, proof of address, proof of bank account....
This is after paying them money for 18 years from the same address and bank account....
And then their system fails the checks and you start getting requests for paper documents that all have to be sent recorded to prove they have been sent....
So in summary....don't use this company, there are so many decent financial companies out there...
Columbia threadneedle is not one of them...

Zero stars if I could give it. Invested my son’s government grant of £250 in this scam. Took £85 quid off him. A disgrace, never touch this company, they’ll sell you out.

Avoid Columbia Threadneedle like the plague. Still trying to help my 97 year old father to access the funds invested with BMO, after months of truly obstructive requests for us to supply "proof" of his identity, which are then conveniently "lost" so we have to start again. It appears to be a game to this company, to see how long they can keep you from accessing your own money - I suspect they are counting on my father dying before they release the funds so they can start all over again. Truly disgusting approach to their customers- avoid, if you ever want to see your money again.

Wow, exactly the same issues trying to help my daughter cash in her investments as others have had. Given different information on every call. Wouldn’t accept her bank details on the website and eventually received a cheque after making a complaint. Received a letter which I think was supposed to be resolving all the issues, but just commented on one of the telephone calls. No apology for mis-information. Thankfully now have the cheque and will never return to this company.

After a lengthy painful experience in getting my money out I searched reviews to see what other say. Not surprising at all.
*AVOID AT ALL COST*.
Extremely expensive management fees, archaic system, no value and when you try to move your money elsewhere they use everything possible to make it impossible, including making you pay to prove who you are.

I had the same experience as everyone else - requests for more and more information, excuses for not paying…. I finally found the magic words. They are “I want to put down an official complaint”. The moment I said that, they promised to pay within three days, and in fact they paid the very next day. But I am putting down the complaint anyway and fully intend to take it to the Financial Ombudsman. These people need the regulator to look into what they’re doing.

This company is terrible, tried to transfer grandparents accounts (showing grand children as beneficiaries) into their own GIA accounts; the process is the most complicated, paper intensive, overly engineered and time consuming experience I have ever come across. The sheer number of letters and top up forms sent in the post is beyond belief. The staff are very helpful and friendly but trying to do business with these people is impossible. The website is also terrible as others have said. I tried to move money from the GIA to a LISA, has to be done by post (a 7 page form with no information pre populated, are they kidding!). Withdrawing money is done by cheque!!! Withdrawing all money and putting into AJB or HL or similar (whose account opening process was a joy).

Avoid at all costs
They are creating endless excuses to avoid releasing my son's child trust fund money, despite us having supplied all the required documents.
They keep claiming it is being 'investigated' but in fact nothing happens.
Currently considering legal action as the only way to for my son to get his money back from them

Masters at stonewalling and fabricating reasons and hurdles to hold onto investors’ money. Inept customer service. Your best gift to those who may need funds or must address trust and estate administration when you can’t for yourself will be to liquidate and reinvest with a responsible, capable and honest brokerage or fund/plan administrator. From medallion guarantee to excuse and hurdle after another, a year from date of death and almost no progress while they keep hundreds of thousands of beneficiaries’ funds. But, they charge their fees!

This company is awful. My parents invested money for their grandchildren, aiming to give it to them on their 18th birthdays. Each time a child has reached 18 (even though months of notice was given by my father) it was almost impossible to get the funds. When we did finally get some of the funds released (we are still waiting for others) they actually sent a cheque! Not secure, and difficult to pay in. Their level of incompetence (not calling back, repeating requests, continuing investments after the account had been closed, taking no action) was surpassed by them writing to me to ask me to certify my parents' identification, when my mother had died 18 months previously. Still battling to get hold of money, will be escalating our issues. Do not invest with Columbia Threadneedle. We were happy with Foreign & Colonial who were bought up by Columbia, but since then customer service and responsiveness has been minimal, if not totally lacking.