Bond Partners Network

Try this link

http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=172951

There was an earlier one but I can't find it but it wasn't a good reference.

Bond Partners Network

I signed up with Bond Partners Network in February 2007 with induction in March.

First lead received 2 months later in May. At the end of September (6 months) I had 6 prospect meetings and non were interested in changing accountant but 'as I was in the area' they didn't mind seeing me. Total quote value £4,000 in 6 months - £50k is not likely to be achieved. 12 other leads cancelled before the meetings.

I have agreed to continue with different post codes (as I've relocated) and as trying to cancel the monthly payment plan has proved difficult, in spite of the low volume of leads.

If I could wind the clock back I would not have signed up. I am, however, looking at the situation in more detail as I feel I have been mislead and would at most have gone ahead on the pay as you go scheme which would limit costs to the initial fee rather than 36 months at £600.

Bond Partners Network

Don't deal with this firm. All their promises of high fee income are hard to believe (they refuse to give you details of firms who actually make this amount of money) and they do not repay the fees paid if you don't make the £50k fee income target they "guarantee" according to several members i have spoken to.
The company will not return any calls or emails. Their conferences are usually cancelled at the last minute and they will threaten legal action to try to force you into paying for non existent services.

They will misrepresent what they are selling, what you are actually buying is a laptop computer for over £27000 with some software you will never use!!!

Just send out marketing letters to the businesses in your local yellow pages, it will cost a lot less than £27000. As this is all they will be doing for you.

Avoid this company at all costs

BPN

We are currently experiencing exactly the situation described by S below. The selling pitch is a 'no risk offer': they gurantee you £50k of recurring fees per annum or your money back. The only apparent option to pay the fee was through a rental option linked to a piece of computer equipment.

The marketing agreement provided actually states that by taking the finance option BPN will waive the fees (ie the fees they promised to refund if they do not meet their target). You are instead tied into a three year rental agreement with a third party finance company, and Bond have no obligation to meet their £50k guarantee. If they fail, you can terminate the marketing agreement but not the finance agreement, Bond will only novate the finance agreement if 'mutually agreed'.

All our attempts at contact are being ignored and we are now exploring other avenues. It is important that all firms who have experienced the same issues discussed on this thread post their experiences here, only that way will the scale of dissatisfied BPN members be known.

Bond get away with threats and silence because there is no concerted, united and public opposition to them. Only if we can unite dissatisfied firms will we be able to force a reaction.

Bond Partners Network

I agree that all dissatisfied Bond Partners Network accountants should post their problems on these forums. As and when my dispute is resolved I will be happy to let others know how to stop these people.

BPN

We have very similar issues to those described by S & Z below and would welcome direct contact with other BPN sufferers in this regard.

Absolute nightmare

Yes!!!! An enormous amount of time and money wasted since Day 1 trying to get Bond Partners Network to deliver anything even remotely close to their promises. We are taking legal advice and are interested to hear from any other firms who would consider some form of Group Action. Has anyone managed to get out of the contract before the 3 year term?

BPN

We are in the process of arranging legal advice and are keen to pool resources with other firm's. It would appear we are all in very similar positions.

I would invite M, S and Z to give me a call on 07793 608 360 to discuss.

No doubt we can cross check we are who we say we are on the phone.

BPN

Absolute nightmare - not interested in providing service, original contact there would never return calls. Most of the appointments they get cancel before the date of the appointment and others don't seem that interested in moving. They say they guarantee that you will get the fees and if you don't you can cancel and get your money back but when you try and do this they deny it

BPN

BD, if you would like to discuss please do feel free to call on the number below.

Bond Partners Network

I came across this thread by accident - I have a meeting arranged this afternoon at 1:30pm. It will be interesting to see what kind of presentation they will be doing and whether they are still offering the same guarantees.

If anybody has specific questions they would like me to ask then please respond to this note and I will put them forward.

Thank you all for the pre-warning, I shall certainly be treading very carefully this afternoon.

Gary

Hi Gary

How did it go?

BPN

I also have concerns:

W - is it too late to call to discuss?

M - Were you on the induction course on 26 Feb? I think we may have spoken.

To C

C - It is not too late. Please feel free to call.

Bond Partners Network

I am afraid my meeting with the representative didn’t happen. At the first attempt his car broke down (apparently) and as he phoned to make an alternative appointment I introduced the concerns voiced on Accounting Web - he seemed confident that he could allay my fears and the meeting was re-booked. The second attempt at a meeting passed and so I rang to find out where he was and he informed me that the area had been allocated to another firm and the office should have called to cancel the meeting. A week or two later the Bond Partners Network office rang to see whether a new appointment had been made as they were still looking for firms in the area !!

My guess is that the bad press created by this forum is fully justified and that the salesman would have found it very difficult to prove otherwise. That’s one less customer for Bond Partners Network and thank you all for the information.

I hope all of you in a dispute with Bond Partners Network achieve a successful outcome.

Gary

I have just posted on another thread...

I got caught - and chose the finance option - much to my regret!!
I signed up this time last year and wrote to cancel in March this year in line with the agreement. Since then, apart from one phone call and one letter from them, no response to my calls, emails and letters. I also copied in the managing partner of Bond Partners LLP but no response from him either.
I have this week written to Investec to cancel the finance agreement and stop the dd's and have had a letter advising me to reinstate the payment schedule.
I have not taken formal legal advice yet although I have discussed the situation with my local friendly lawyer.

I do know that the practitioner I attended the 'induction day' with is in the same position as me.

Pozzer

Bond Partners Network

Just heard on the grapevine that there are over 20 firms taking legal action. Hopefully this will send them under.

Legal Action Group

Has anyone formed a CLASS Action Group against BOND Partners Network.

I joined last year in March 2008.

They must be stopped and it is amazing the ACCA who govern Bond Partners LLP the Accounting and Insolvency firm in Southgate have not taken action.

Small firms of accountants are PREYED upon and conned.

The "Finance Option" interposes a 3rd party lessor who are randomly picked by Bond Partner Network.

BOND Partner Network do nothing except generate some dubious appointments for six months to encourage you and prevent you from FRUSTRATING the the leasing company.

Does anyone wish to form an ACTION GROUP

If so please reply to my email in strict confidence.

Is there any further news?

Has anyone got any further with Bond Partners? I have still had no response even from Mr Morfakis the managing partner of Bond Partners LLP, who is also a director of Bond Partners Network, although I did receive a 'read receipt' to my email! Having cancelled my dd with Investec, I have received a letter from them stating that they will respond 'once further investigations have been carried out'. Email me if you wish pozzer6@btopenworld.com

Action Group

Since posting a comment a few months ago I have formed a Group of 13 members similarly affected and if anyone would like to join our group please leave some contact details and I will contact you. The number of group members is growing each week, so you are not alone.

Class Action against Bond Partners Network

Please can you let us know how to join the 'class action group' against Bond Partners Network. We joined them in 2008 and have not generated a single new client from appointments which are purported to be Bond Partners Network 'referrals'.

Standing order now cancelled, but how will the 'leasing company' react? After all the £35k worth of 'leased equipment' constitutes a couple of cheapie laptops - Thats it!

Thanks
J.

Contact Details

Anyone interested in joining the group please call W on 07793 608 360.

Contact Details

Hi W

I've sent you a message and tried calling the number given by you & M. Have you received anything? I was worried I may be using the wrong number.

Many thanks

Regards

C

CCJ on bond partners network

I guess everybody here already knows this but I have just seen that there is a CCJ on Bond partners network of £6,346.

I am therefore, assuming a member successfully took them to court.

However, I guess that unless wrongful / unlawful trading can be proven, it is going to be difficult getting any money out of the company as the net assets are minimal (well based on the 31 March 2008 accounts).

Still it would be nice if the directors could be held to account on this.

Regards

Anon

Update

I would be interested to hear if anyone has successfully terminated their agreement and finance lease payments without consequence.

Bond Partners Network

Hi W

We have also got caught by the Bond Partner Network finance option and they have also shown a total lack of response in terms of appointments. Telephoned the number quoted regarding joining the Group for considering / taking legal action but have had no response from you. Are you still pursuing this line or have you abandoned the idea? If it is still a viable option could anyone within the Group please contact me.

Derby

Action Group

We too have been caught under the finance option and were due to have a meeting with Bond Partners Network this morning until (predictably) they cancelled for a second time

We would be very interested in hearing more about joining any action group and also whether many firms have cancelled their monthly 'lease' payments

Please feel free to get in touch by email flora28@accamail.com

Flo

Bond Partners Network

....and we are yet another one! PLease can you respond with how to contact you to potentially join an action group.

thanks

Geoffrey

Bond Partners Network

We would like to join any Action Group against this Practice. I am a Partner with Adams Lee Clark based in Henley on Thames. My office no is 01491 578177 and mobile 07810003030.

I look forward to hearing from you

Regards

Kevin Halliwell

Group action

We have a group of 3 firms who are considering the best way forward. It will probably be in the format of appointing a legal representative to give some "first stage" advice, which would be to consider the papers and our options. Ideally we would like at least a couple more firms to join to minimise the costs to individual firms. From the discussions so far, the experiences of each firm are almost identical. I would expect the initial outlay for an opinion to be £400-£800/firm depending on the number that we get. If you are interested, please email me at bondgroupaction@gmail.com

thanks

Geoffrey

Bond Partners Network Action Group

If anyone can give me details of the person who posted in June that they had a group of 13 firms taking action, I should be pleased to join forces/speak to them.

many thanks

Geoffrey

bondgroupaction@gmail.com

BPN

Guys all I like to contribute is that I have experienced the same by Bond Partners Network and after nearly a year's Littigation battle between my Laywers they have agreed to settle out of court at the end.

If you are thinking of taking legal actions get a very good lawyer not a high street one. After spending several thosands you may have a chance of getting something back.

BPN

Any chance you could recommend the lawyer who successfully got the settlement? If you don't want to put it on the site, you can email bondgroupaction@gmail.com. Thanks

Bond Partners Network Action

Thank you for your response and contact details.

For legal reasons I do not want to be identified hence I have passed on your email details to the Lawyer who managed to win the case for me.

I wish I had this action group when I was taking action but at the end I did get my money back including legal costs and interests.

Anyway best of luck.

Action Group

Would anyone like to contact me with details of the Action Group?

Please telephone my mobile number - 07956 447736.

Thanks
John

BPN

Toni,

BPN already had the best deal. The computer they supplied looked as though it came from Computer World!

ACCA

I believe you will find that ACCA will be responsive to complaint about Bond Partners Network.

John

I very much regret to say that I am yet another accountant caught up in Bond Partners Network. I joined in July last year and signed up for the "finance option" After some prompting, Bond Partners Network arranged about 12 interviews with local businesses during but, with one exceprtion, none were remotely interested. By May this year is was very obvious that I was not going to obtain £50,000 worth of new business, so emailed on 20 May, then emailed the network manager on 10 June and wrote on 24 June expressing my concerns and disgust at the lack of any reply. I advised that I would be terminating on 24 Julyand requested the refund of my money. To date I have received no reply or acknowledgement of any kind. I have also cancelled my direct debit with the finance company and have already received threatening letters from them.

After havingj ust discovered this site, it is obvious that there are quite a lot of us in the same position. I note that a couple of contributors have formed action groups, and I would be very keen to join one of them. Would you please conact me at jwchamberlain@blueyonder.co.uk

Many thanks

John

Bond Partners Network

I too have been caught out by this mob and would be keen to join any group looking to take action. I had a quick talk with a solicitor this morning and they thought there was a case on the lease payment plan under the consumer credit act. I initially wrote a couple of months back to express my dissatisfaction and since then have not heard from them at all. I hope if nothing else this thread will stop other people signing up with them.
I can be contacted on 07976377195.

Please lets connect. Bond Partners Network disappointment group!

thanks.

--
Colin Davison
Cranleys Chartered Accountants
01256 830000
colin.davison@cranleys.co.uk

Bond Partners Network

We are in the same boat as everyone else whose comments I have read about Bond Partners Network. I am very interested to join in your action group and bring these guys to justice.

Please don't hesitate to call me on 07780 674331.

Regards

Harry.

Bond Partners LLP

I have read many of the comments. Is this the same firm which is run by Mr Papanicola and employs Purnima Patel?

I am a bit confused by references to Bond Partners LLP and Bond Partners Network.

If it is one and the same can anyone assist with the details of Bond Partners professional indemnity insurers and if anyone has experience of dishonesty by the firm, whom a colleague has sued, then I would very much like to act as a conduit for information.

If it is one and the same then I see it is registered at Companies House as an overseas company and that a lot of people resigned at the start of October.

Bond resignation and witness statements required

LLP288c 02/10/2009 MEMBER'S PARTICULARS THEOPHANOS ODYSSEA   LLP288b 02/10/2009 MEMBER RESIGNED GEORGE IOANNIDES   LLP288b 02/10/2009 MEMBER RESIGNED MICHAEL MICHAELIOIS   LLP288b 02/10/2009 MEMBER RESIGNED SAROJ SAPKOTA   LLP288b 02/10/2009 MEMBER RESIGNED JOHN DAGLISH   LLP288b 02/10/2009 MEMBER RESIGNED STAVROS HADJIYIANGOU   LLP288b 02/10/2009 MEMBER RESIGNED MICHAEL MARCUS

Someone said the ACCA might be interested in Bond - perhaps not?

Pat Papanicola (the firms compliance officer and head) is the former President of the ACCA North London Members Panel.

007 Bond and Partners engaged in termination, what else would one expect from Mr Bond

Bond (not 007) normally file documents at Companies House which refer to officers "resigning".  What is the difference between resignation and termination?

AP03 30/10/2009 SECRETARY APPOINTED MR THEODOULOS PAPANICOLA
TM02 26/10/2009 APPOINTMENT TERMINATED, SECRETARY COSTAS MORFAKIS
288b 09/09/2009 APPOINTMENT TERMINATED DIRECTOR COSTAS MORFAKIS

Did Costas leave or was he pushed?  The honest and charming man of integrity able to deny involvement save for lack of supervision steps in?

Interesting re. Termination

http://www.companieshouse.gov.uk/forms/generalForms/RP02a_application_fo...

Bond Prtners

 itoo have been caught up in the Bond Partners scenario.

After12 months of trying to cancel the agreement for non performance, I stopped paying in June of this year  and am now being threatened with legal action

Bond Partner Network

Regardless of what they say, you would be making the biggest mistake of your professional life, if you go ahead with them.

007, the swarthy bubble, dishonestly claiming FSA allegiance

It seems that the Dodgy Bubble and his mates have been slaped by the FSA.   Was anyone induced to contract with this shower because of their claimed FSA authorisation?  The FSA have reiterated that "As confirmed in our previous correspondence to you, Bond Partners LLP is not authorised and regulated by the FSA. Moreover, Bond Financial Network is not authorised and regulated by the FSA."

Looking at 007's web page today there have been big changes.  The FSA dishonest statement is not available and the business has been reshaped.   Can you believe what their web site says I do not know but for the record it now states.

"Prior to 1 October 2009 Bond Partner LLP was an all multiple disciplined Firm providing all aspects of Insolvency and Audit and Taxation services. The Members decided that it would be best for the various services to be split and a reorganization and reconstruction took place on 30 September 2009 whereby the Non-Insolvency services have been transferred to Bond Group LLP thereby Bond Partners LLP has become a bespoke Insolvency Practice.

The Partners of Bond Partners LLP have combined Insolvency experience of over 100 years. The Insolvency Partners are licensed by the Association of Chartered Certified Accountants to provide all aspects of Insolvency.  We offer the full spectrum of rescue and turnaround assignments on behalf of directors of companies and individuals who find the viability of their business in question."

If you were induced to contract on the basis of fraudulent misrepresentation as to FSA authorisation please let anyone and everyone know. Clever corporate structures won't enable the swarthy bubble to duck and dive with the animosity of those in this group actively pursuing him.

Don't do it

Do NOT proceed.  There are in excess of 50 parties taking legal action against Bond Partners Network.

Bond Partner Network

Yes i have heard of them and it has not been a good experience

If youwould like to discuss this, please contact me, but be vary wary of BPN.

My firm will be complaining to the Institute about them

Lucky escape!

We joined the Network back in 2005,  when it was very new. The standard of leads, and the support we received, was very poor, and the promises we were made were not met.

We resigned from the network in September 2005, and had heard very little of them until I came across this thread.

Looks like we had a lucky escape from what everyone is saying....

Papanicola - the man claiming FSA authorisation falsely etc.

Pat Papanicola - will be telling his fellow professionals about his skills (not the ones involving misleading the public or deceiving the FSA)

Speaker: Pat Papanicola, Bond Partners LLP

   Date:23 Mar 2010Duration:Registration 7pm. Presentation 7.30pm - 9.15pm.  Venue:The Royal Chace Hotel, 162 The Ridgeway

 Enfield, Middlesex EN2 8ARWhy not go and spend an evening with Pat and discuss his honesty and integrity and leasing plans?  He can be found on 23rd March 2010 at The Royal Chace Hotel, 162 The Ridgeway, Enfield, Middlesex, EN2 8AR.  From 19.00 to 21.15.

Go along and ask Pat some questions.    He deserves your inquiring minds.