Allen Baker (Allenbaker.com) is selling itself as a fully independent investment management practice. AllenBaker claims to prudent and well-researched investment advice and counsel. Their main clients are families, individuals, and institutions who want to accumulate and preserve wealth. The selling point includes not receiving or requesting any incentives from clients. And this is how they have managed to rope in a few investors with their charm. A review was conducted and the results are damaging at best. What is wrong with Allen Baker?
Management and investment is a huge deal-breaker when it comes to generating and preserving wealth. The broker claims to offer the best services with no incentives coming from the clients. They claim to be independent which is not the case after a few complaints reached our help desk. The platform claims to reject third party compensation and claims to hide any conflicts. With such an alluring service provider, everyone would want to sign up. Why hasn’t the platform been a darling to leading financial institutions? Allen Baker is a fraud and is not open to their terms and conditions.
Managing an investment portfolio requires commitment and diligence. It is where brokers come in and a wise investor knows the best option is having a qualified broker. Allen Baker is selling an elusive dream to investors. Once an investor gives them a chance to manage wealth, they end up ruing signing up. The platform has seen a number of complaints been lodged by members. They have been accused of misleading members and taking advantage of the resources offered. And this is why no sane investor wants to open a shop with the platform.
Allen Baker is offering asset and wealth management services. They claim to have long term relationships with their client which is a lie. The website has no clear information on the location of the company. Opening an account with these people is exposing your wealth to strangers. With no track record, Allen Baker is one of the biggest frauds when it comes to asset management. Claims of being highly trained professionals should not be the case as this is a ridiculous affirmation.
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It would be helpful if we all knew who Allen Baker is. The fact that they hide this vital information from users makes it a hard nut to crack. In essence, investors are giving away their wealth to an unknown entity. No background check on Allen Baker has yielded any positive results. Investors and wealth managers from different continents have no recollection of such an investor. And this is where the problem with this platform starts. An anonymous online investment platform is a no go zone for all investors.
The website has been in operation since 2005 and no one knows who the owner is. According to credible sources, the website allenbaker.com was created on 13th December 2005. How the platform has managed to engage investors for long without credible information is worrying. Thanks to the domain register whois.domaintools.com, we can learn the truth. The website has been in operation for over 10 years and has not been dealing fairly. Numerous complaints from members recently popped up and investigations are underway.
According to their career’s page, Allen Baker is an international stock brokerage firm based in Hong Kong. They claim to have assets worth $8 billion dollars under their wing. These are false claims meant to drive investors towards signing up with the platform. Scam brokers will do or say anything including bloating numbers to increase stardom. The $ 8 billion number is a false statement as they don’t have a balance sheet to prove it. Their Hong Kong office is nonexistent as no investor from the region has heard of them.
Allen Baker is not licensed or registered by any regulatory body anywhere in the world. A closer look at various regulatory bodies reveals no such company exists. And this is proof we are dealing with a rogue online investment platform. These scam brokers are operating without a valid license which poses a huge risk. None of the members can get any of their funds back in case of bankruptcy or insolvency. The platform does not participate in an insurance scheme as dictated by investment laws.
A huge problem with an unregulated institution is funds are not safe. The platform does not disclose which regulator has issued them with a license. It means they don’t comply with asset and wealth management rules. The entire website has no information regarding their license and registration. A genuine investment platform will give users copies of their license documents for all to see. It is why we have an issue with the broker as they do not comply with industry regulations.
Allen Baker is not clear on the account plans offered by their institution. Do they offer individual accounts or institutional accounts? What is the minimum threshold for depositing funds with the platform? These are the issues that need to be addressed within the website. After searching for such information, it is clear we are dealing with a rogue platform. Investors have been depositing funds to an unknown person for a while. Without proper account plans, the broker is asking for any price they deem necessary. They are not under any regulation which is bad news for members.
The platform claims of having a dedicated team that is highly trained. What remains a huge issue is none of the team members is known. They fail to give investors the names of the people tasked with handling their wealth. As an investor, it is prudent you know the actual names of people who handle your funds. And this is a huge problem with this platform as they hide the identities of staff members. And this is another reason why investors should stay away from this ridiculous trading platform.
A huge problem with the platform is the lack of information on how funds are transferred. Details remain sketchy on how a member deposits funds with the platform. According to a member, they are sent an email with an account number. The account number on all emails is the same which means they are using one account. It is risky for different members to share the same account number when depositing funds. The broker might confuse the deposits or refuse to admit any deposit has taken place.
When it comes to conducting analysis and research, the broker is unclear on the strategies used. They simply claim to be at the heart of the financial market and know every single detail. And this is why we must dislodge the platform for being a liar. They openly refuse to give their members details on how they arrive to certain analyses. And this is a problem as members blindly comply with the results from unknown ‘professionals’. It is best to stay away from this ridiculous trading platform.
The security of funds is not guaranteed by a broker who is not after your funds. The broker is clearly hiding relevant information to members. Gaining access to the funds is a problem as the broker does not allow any partial withdrawals. They claim members must wait for a certain duration to get access to their funds. Most of the members have been having issues when contacting the broker for withdrawal purposes.
Evidence on our hands clearly indicates Allen Baker is a scam. Watch out for such asset and wealth investment managers who fail to have a valid license. Their background and history are sketchy even though they have been in the game for over 10 years. Stay away from any unregulated online investment opportunity or service provider. They end up losing your funds than helping you create wealth.
Avoid this wealth investment platform and invest in credible trading tools. Smart investors are using recommended trading tools to help make extra income. Stay away from blacklisted wealth management service providers with no valid license.
We wish investors all the best in their investment opportunities.
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