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  #1  
Old 10-19-2011, 07:17 PM
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Kev Hedges of Hedges Wealth Management

I think it is important for me to share the following information.
I have been taking care of cars for Kevin Hedges for about 5 years and for the most part has been a great experience and relationship.
In January of this year I worked on one of his cars and took care of some issues the vehicle had, incl. a complimentary oil and filter service to say thanks for referring another client some time earlier.
He picked his car up on Friday, Jan. 14th, late in the afternoon (he got dropped off and his ride had already left) paid a small portion of his bill and asked if he could take care of the (quite significant) balance on monday as he needed to shift some funds. Many emails with excuse after excuse followed over the next few months until I never heard from him again.
Today is October 19th and I am still waiting for that monday to arrive.
It is my understanding that his car was sold at auction and now belongs to someone very far away.
I just thought it would be important to know that if anyone was considering his services, they may want to reconsider as a lot of trust has to be put into an individual that "manages" your wealth and I would think before that individual can perform that task they need to manage their own first.

Karl Troy
Just don't want anybody else to get burnt.
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  #2  
Old 10-20-2011, 10:39 AM
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Sorry to hear about that, Karl. Do you have any legal recourse? As I'm sure you know, his (very "boilerplate") website shows an address in Mt. Pleasant.

I know that there are some shady people in the "wealth management" business. This guy would be one to steer clear of, for sure.
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  #3  
Old 10-20-2011, 01:44 PM
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Quote:
Originally Posted by Europeanroadandracing View Post
I think it is important for me to share the following information.
I have been taking care of cars for Kevin Hedges for about 5 years and for the most part has been a great experience and relationship.
In January of this year I worked on one of his cars and took care of some issues the vehicle had, incl. a complimentary oil and filter service to say thanks for referring another client some time earlier.
He picked his car up on Friday, Jan. 14th, late in the afternoon (he got dropped off and his ride had already left) paid a small portion of his bill and asked if he could take care of the (quite significant) balance on monday as he needed to shift some funds. Many emails with excuse after excuse followed over the next few months until I never heard from him again.
Today is October 19th and I am still waiting for that monday to arrive.
It is my understanding that his car was sold at auction and now belongs to someone very far away.
I just thought it would be important to know that if anyone was considering his services, they may want to reconsider as a lot of trust has to be put into an individual that "manages" your wealth and I would think before that individual can perform that task they need to manage their own first.

Karl Troy
Just don't want anybody else to get burnt.
Darn, Karl, I guess I should get a free belt service lol! Really though, I think we all refer folks to the person we trust most, and believe is the most honest, fair, and quite frankly good at what they do. Did he specifically ask for the free oil change? I've never done that for my referrals of friends. I just want them to get the best.

How long ago was it that this happened? Did anyone ever check out his car after you did the work? What was the major complaint? Really sorry to hear about this experience. I had RamJack just secure the foundation on my bay window, a home I am about to put on the market, and they did a crap job. I paid them all but $300, and I bet I will have to have someone come out and redo the grout, but I'll give them a chance to redo it if they offer.

We need a way to vet people we do business with, such as RamJack. Right now I could not recommend them to anyone. And it hurts those who refer bad services. I don't think I will give my listing to the agent who recommended them. Just the way it is.
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Old 10-20-2011, 03:15 PM
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I was just contacted by Mr. Hedges a short while ago, first time since March, in hopes to have this matter resolved soon and would be delighted to make this post a positive one.
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  #5  
Old 10-20-2011, 07:49 PM
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Originally Posted by Europeanroadandracing View Post
I was just contacted by Mr. Hedges a short while ago, first time since March, in hopes to have this matter resolved soon and would be delighted to make this post a positive one.
Good! Your power extends further than you think. <grin> Good luck.
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  #6  
Old 10-20-2011, 08:02 PM
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I have met him Kevin at one of the FCA events. He seemed like a nice enough guy. I discussed some financial planning with him at the time. He has recently been calling quite a bit leaving messages for me. I have pondered having him take care of some things regarding investments. Perhaps he has come into some financial woes. At least he should have called the OP and been up front with him. I will reconsider doing business with him.
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  #7  
Old 10-21-2011, 11:44 AM
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My Reply

Dear Karl,

It has come to our attention that you have posted a private matter, between us and your firm, European Road & Racing on Ferrari Chat.

Let me make this entirely clear for you, so that there is no misunderstanding at all, whatsoever.

1) The reason that we have not paid the balance is because the work you did on my car was unacceptable. You kept the car for over 1month for an oil change. I also let you use the car, as a convenience, when you asked me. When I picked up the car, the car was not fixed. The MPG had decreased considerably, and the total bill for the car was well in excess of my expectations, despite my repeated requests for the total price. Hence, one cannot pay for work that was completed, and subsequently created more car problems. It should have been fixed and checked before I picked up the car. I clearly remember you also saying that your firm was struggling somewhat, which is a shame. Naturally, I am unimpressed. I have sent previous correspondence letting you know, of which I have a copy.

2) You must remove the post on Ferrari Chat immediately. It is unprofessional, slanderous, and a private matter.

3) If you do not remove the post, and make a formal apology, I will be sure to take legal action for such comments on a private matter. I will also to tell everyone in the Ferrari Club, Porsche Club, British Car Club, et al, about the bad experience we have had with you and your firm and that you are deliberately trying to hurt our company, and our reputation which are certainly non-correlated. It is unjust. In general, your firm as been good, but this was not one of those times.

4) With regards to our firm, yes, there are awful ‘wealth management’ firms out there, but we are certainly not one of them. We have a dedicated core focus on low risk, transparency & fiduciary interest. Our credentials include Wharton Business School, currently studying the CFA exam, and being licensed by the SEC / FINRA. Confidential (client permitted) references available upon request.

In the essence of reaching an agreement so that you are not hung out to dry on the cost of whatever you spent on fixing my car this year Karl, and in the essence of gentlemanly conduct, I am prepared to give you a small amount of the balance that will cover parts, but not labor. I think this is more than fair given the factual information above.

May I wish you the best for the remainder of this year Karl. Good luck with getting your firm back in track.

Yours sincerely,

Kevin Hedges
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  #8  
Old 10-21-2011, 12:19 PM
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Originally Posted by kevinhedges View Post

I clearly remember you also saying that your firm was struggling somewhat, which is a shame.

Good luck with getting your firm back in track.
I have no knowledge of the issues between Karl and Kevin. As such, I will not comment on them...however, if Karl's "firm" is struggling, we should all struggle so much. The country would be much better if we all "struggled" like Karl's shop. I have never seen more vehicles in his shop as I do now when I drive by, or on occasion when I bring my 308 to him. I say on occasion since I drive my 308 about a mile 40 miles a year...that's to and from Karl's shop.

We can't please everyone...Karl knows that. But to suggest Karl's shop is struggling is simply ridiculous.

Karl has many devoted clients and friends who would be willing to speak up on his behalf, myself included. Again, I have no knowledge of the matter for which this thread was started...but I trust Karl completely. Kevin's claims are the kind I have NEVER heard about Karl. And they certainly will not keep me or other clients away.

Karl, sorry you are having these issues. Kevin, sorry you were not pleased with Karl's service. You are in a very small percentile...in fact, you may be the only percentile.

NOTE: I have not been paid by either party for my comments...yet
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Old 10-21-2011, 12:22 PM
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Wow! I talk to Karl often, and his business is better than ever. Take a look at the pictures on his Facebook page. He has more cars than most dealerships. I really can't see how his business could be doing so poorly, unless he has a lot of deadbeats that won't pay their bills! Oh well, the truth shall prevail. I just hope that reputations aren't destroyed.
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  #10  
Old 10-21-2011, 02:59 PM
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Originally Posted by Dincenzo View Post
Wow! I talk to Karl often, and his business is better than ever. Take a look at the pictures on his Facebook page. He has more cars than most dealerships. I really can't see how his business could be doing so poorly, unless he has a lot of deadbeats that won't pay their bills! Oh well, the truth shall prevail. I just hope that reputations aren't destroyed.
+1 ... I am confident that Karl's reputation will not be harmed.

Funny you mentioned that he has more cars than most dealerships. I think a customer recently chose Karl over the dealership for repairs due to price and quality of work. I think it was an Aston Martin, but I'm not sure...those non-Ferraris all look alike to me
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  #11  
Old 10-21-2011, 03:08 PM
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Originally Posted by kevinhedges View Post
Dear Karl,

It has come to our attention that you have posted a private matter, between us and your firm, European Road & Racing on Ferrari Chat.

Let me make this entirely clear for you, so that there is no misunderstanding at all, whatsoever.

1) The reason that we have not paid the balance is because the work you did on my car was unacceptable. You kept the car for over 1month for an oil change. I also let you use the car, as a convenience, when you asked me. When I picked up the car, the car was not fixed. The MPG had decreased considerably, and the total bill for the car was well in excess of my expectations, despite my repeated requests for the total price. Hence, one cannot pay for work that was completed, and subsequently created more car problems. It should have been fixed and checked before I picked up the car. I clearly remember you also saying that your firm was struggling somewhat, which is a shame. Naturally, I am unimpressed. I have sent previous correspondence letting you know, of which I have a copy.

2) You must remove the post on Ferrari Chat immediately. It is unprofessional, slanderous, and a private matter.

3) If you do not remove the post, and make a formal apology, I will be sure to take legal action for such comments on a private matter. I will also to tell everyone in the Ferrari Club, Porsche Club, British Car Club, et al, about the bad experience we have had with you and your firm and that you are deliberately trying to hurt our company, and our reputation which are certainly non-correlated. It is unjust. In general, your firm as been good, but this was not one of those times.

4) With regards to our firm, yes, there are awful ‘wealth management’ firms out there, but we are certainly not one of them. We have a dedicated core focus on low risk, transparency & fiduciary interest. Our credentials include Wharton Business School, currently studying the CFA exam, and being licensed by the SEC / FINRA. Confidential (client permitted) references available upon request.

In the essence of reaching an agreement so that you are not hung out to dry on the cost of whatever you spent on fixing my car this year Karl, and in the essence of gentlemanly conduct, I am prepared to give you a small amount of the balance that will cover parts, but not labor. I think this is more than fair given the factual information above.

May I wish you the best for the remainder of this year Karl. Good luck with getting your firm back in track.

Yours sincerely,

Kevin Hedges
I'm no lawyer, but I think slander refers to the spoken word. I believe you meant libel, right? Anyway, how can you accuse Karl of slander/libel and than do the same thing? You claim his work was substandard and that his business is not doing well (I believe this to be a fabrication on your part, but I don't have the fact...that's why I said "believe").

Seems you are playing tit-for-tat. Had you just said Karl is wrong without taking shots at him, your post would have had more credibility. Don't get me wrong, if I felt I was being attacked, I might do the same thing.

Oh, who am I kidding...I don't think you have ANY credibility. You chose to talk about an individual who is well respected here on FChat and in the Ferrari community at large (all exotics actually).

NOTE: If it appears that I am taking sides, I want to make sure that everyone knows that, in fact, I AM!!! But it pains me...
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Old 10-21-2011, 03:36 PM
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Originally Posted by gil308 View Post
I'm no lawyer, but I think slander refers to the spoken word. I believe you meant libel, right? Anyway, how can you accuse Karl of slander/libel and than do the same thing? You claim his work was substandard and that his business is not doing well (I believe this to be a fabrication on your part, but I don't have the fact...that's why I said "believe").

Seems you are playing tit-for-tat. Had you just said Karl is wrong without taking shots at him, your post would have had more credibility. Don't get me wrong, if I felt I was being attacked, I might do the same thing.

Oh, who am I kidding...I don't think you have ANY credibility. You chose to talk about an individual who is well respected here on FChat and in the Ferrari community at large (all exotics actually).

NOTE: If it appears that I am taking sides, I want to make sure that everyone knows that, in fact, I AM!!! But it pains me...
I'm currently in pain from that cheeseburger I just had but I'm on Karl's side too!
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  #13  
Old 10-21-2011, 05:08 PM
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But was it worth it???
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  #14  
Old 10-21-2011, 05:56 PM
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Kevin

I am all for sticking to the facts and making things clear.
You left your Porsche 911 with me for a month or more because you were out of town and weren't in any rush.
-Your car received and oil and filter change.
-Your car blew smoke every time it was started cold due to a bad oil separator.
-Oil getting sucked into the intake also damaged the airmass meter.
-Had to replace the battery as I had to jump it every time I moved it in and out of the shop.
The "OEM oilseparator" portion, parts and labor was $444.80. Our local dealer charges $1500.- for the same job.

One saturday I happened to be working on my car and it was in pieces. I needed to get a small item from a parts store a couple of miles away. I called you and asked if I may drive your vehicle to do so. You promptly agreed.
As you can see, something as simple as driving a client's car for anything other than fixing it, I treat with utmost respect.

I kept you updated on what I had to do to the car. You NEVER said, OK but how much? Just OK.
You agreed with what I needed to do. Many of my clients do that so I am used to it when they don't ask for a price. They know that I treat their money as if it was mine.
Yes, you sent me an email earlier on friday asking what the total was but I had not yet put the bill together. Being that friday is our busiest day and many cars have to go home, I am sorry if I couldn't get back to you as quickly as you had hoped. I don't have much time for email when I am working in the shop.
Very shortly before closing on friday Jan. 14 you were dropped off at the shop and your ride left. I gave you the bill and you were blown away by the amount of $1376.-
which included a
-New battery ( no labor charge)
-New oil separator
-New airmass meter
-Oil and filter (no labor charge)
I charged you a total of $425.- labor, the rest was parts and sales tax.
You told me you weren't expecting this, paid $400.- (as that was all you had) and needed to move some funds and asked to pay the balance on monday, Jan. 17th. I was not happy but agreed as you had no way home.
I had contacted you several times about payment and you said you were busy.
On Feb. 14th I received an email from you asking if 238 miles was good or bad mileage out of a tank of fuel. I told you it depended on many variables.
From then on you kept telling me the car wasn't fixed and you shouldn't have to pay for something that wasn't fixed. I told you several times in email form to bring the car by and if anything needed to be corrected I would gladly do so. Again, you said you would but were just too busy.
March 23rd was the last time I heard from you. You stated that as soon as you could free up some time you'd come see me.
THAT WAS 7 MONTHS AGO.

Anyway, here are all the facts and I have the emails to prove them.

As it stands right now, you paid less than half of what the parts were and I am sure as you are good at managing money you'd agree that this is not a profitable way of running a shop.
The fact that you no longer own the car does not mean your debts vanished with it.
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Old 10-21-2011, 06:35 PM
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This thread was getting exciting accusations potential litigation but wow $1376 not alot of money for all that work. I would pay that in a heart beat and be thankful it was not more. No tie to any party and I do not know eigther gentleman I just love reading these posts its is entertainment reality show material. I was really disapointed I thought the bill was going to be 20 to 30k but $1376 come on pay the bill and if you are not satisfied find another shop to take your car to. Repeat business and word of mouth is essential to a repair shop. There are always two sides to every story.
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Old 10-21-2011, 06:38 PM
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Quote:
Originally Posted by kevinhedges View Post
Dear Karl,

It has come to our attention that you have posted a private matter, between us and your firm, European Road & Racing on Ferrari Chat.

Let me make this entirely clear for you, so that there is no misunderstanding at all, whatsoever.

1) The reason that we have not paid the balance is because the work you did on my car was unacceptable. You kept the car for over 1month for an oil change. I also let you use the car, as a convenience, when you asked me. When I picked up the car, the car was not fixed. The MPG had decreased considerably, and the total bill for the car was well in excess of my expectations just because it was beyond your expectations doesn't mean it was unreasonable, nor does it excuse you for not paying the bill. If you believe you were ripped off by your mechanic you have legal recourse through our justice system. You choosing to not pay your bill is not how it works, despite my repeated requests for the total price. Hence, one cannot pay for work that was completed, and subsequently created more car problems. It should have been fixed and checked before I picked up the car. I clearly remember you also saying that your firm was struggling somewhat, which is a shame Karl's "firm" is packed and he is as busy as ever if not more. Naturally, I am unimpressed. I have sent previous correspondence letting you know, of which I have a copy.

2) You must remove the post on Ferrari Chat immediately. It is unprofessional, slanderous, and a private matter. Well, Karl does not have to remove this post, see 1st amendment. Also, this is not slanderous because it is written, so that makes this libel. Also, you must prove what he is saying is untrue, and you not paying your bill is what he is saying you didn't do. Good luck proving you paid it in full

3) If you do not remove the post, and make a formal apology, I will be sure to take legal action for such comments on a private matter. I will also to tell everyone in the Ferrari Club, Porsche Club, British Car Club, et al, about the bad experience we have had with you and your firm and that you are deliberately trying to hurt our company, and our reputation which are certainly non-correlated. It is unjust. In general, your firm as been good, but this was not one of those times. Good, go find a civil attorney who is going to take your case on contingency and let him waste his time. Also, I think Karl's 20+ years as an upstanding citizen, friend, and professional in Charleston is up to the challenge of your weak claims to "ruin" his reputation among car circles. Quite childish if you ask me

4) With regards to our firm, yes, there are awful ‘wealth management’ firms out there, but we are certainly not one of them. We have a dedicated core focus on low risk, transparency & fiduciary interest. Our credentials include Wharton Business School, currently studying the CFA exam, and being licensed by the SEC / FINRA. Confidential (client permitted) references available upon request. I guess Wharton didn't teach you to pay bills on time. Maybe they didn't teach you to read either when it clearly says in Karl's shop that all bills are to be paid in full upon the customer picking up his car. Personally, I don't think I would trust a money manager who can't afford to pay a car repair bill in full because he has to "move money around."

In the essence of reaching an agreement so that you are not hung out to dry on the cost of whatever you spent on fixing my car this year Karl, and in the essence of gentlemanly conduct, I am prepared to give you a small amount of the balance that will cover parts, but not labor. I think this is more than fair given the factual information above. I'm not seeing alot of "facts" which you allude to, more like your personal opinion

May I wish you the best for the remainder of this year Karl. Good luck with getting your firm back in track. His "firm" never left the track

Yours sincerely,

Kevin Hedges
boom.

Last edited by Toxiclemonade; 10-21-2011 at 06:42 PM.
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Old 10-21-2011, 06:45 PM
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Wait...he doesn't own the car anymore? I wonder if that's the real reason he didn't pay...not a valid reason though.

I don't have a wife anymore but I still have to pay her...and much more than $1300. Maybe I shoulda brought her in for repairs

Last edited by gil308; 10-21-2011 at 06:49 PM.
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  #18  
Old 10-21-2011, 07:37 PM
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Originally Posted by gil308 View Post
Wait...he doesn't own the car anymore? I wonder if that's the real reason he didn't pay...not a valid reason though.

I don't have a wife anymore but I still have to pay her...and much more than $1300. Maybe I shoulda brought her in for repairs
Sometimes things aren't worth repairing...
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  #19  
Old 10-21-2011, 09:06 PM
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Kevin, that reminds me of a time last year when you called me in a panic when a tire store in Mt. Pleasant had your car and said one of your tires was irreparable. You car was going to be stuck there for a week until the new one arrived. I offered you a loaner tire that I dismounted from a wheel, stuffed in the back of my Porsche, delivered to the tire store and let you use. I asked for nothing in return.
Once the new tire arrived you got it mounted by them and I was left to pick up my own loaner tire and bring it back.
Someone of class would have thankfully brought it back themselves instead of inconveniencing the helping person a second time.
I guess I'm a slow learner or may be I can't give up trying to see the good in people.
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Old 10-21-2011, 09:38 PM
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Kevin, I have never had the pleasure of your company but I wish you well in your endeavors.

Karl, your reputation precedes you and your shop is one to which I proudly refer to today. In fact, there are two people who I trust to drive my Ferrari and Porsches.. my wife and Karl. If Karl needed to drive 1 mile, 10 miles or 100 miles in my Ferrari 360 the answer is unequivocal: drive safely and let me know when you'll be back. I know my baby is in good hands. :-) Karl is also one of the few mechanics I have met who are honest with me.

I think all the other responses on this forum by Ferrari owners who know Karl, are indicative and supportive of his character.

Karl, don't give up on seeing the good in people. :-) What you reap you sow. Sure you may find customers that take advantage of you in any circumstance or field.. hard times can bring out the worst in people. Will try to stop by in a few.. have a couple things on the 360 and the Boxster that might need a professionals touch.

Last edited by vrsurgeon; 10-21-2011 at 09:40 PM.
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