Sales Of Investment Products

[jw5]

This may not be the requirement of the financial institutions or the regulatory bodies, but I suggest that you insist that the person trying to sell you investment products answers the following questions:

1. How much commission do you get?
2. How much commission does your financial institution get?
3. Do you personally have this investment product currently? If not, please provide the reasons.


Do you agree?

 

[Leongsam]

Do you agree?

Why ruin a good product with unnecessary details?

 

[silverfox@]

This may not be the requirement of the financial institutions or the regulatory bodies, but I suggest that you insist that the person trying to sell you investment products answers the following questions:

1. How much commission do you get?
2. How much commission does your financial institution get?
3. Do you personally have this investment product currently? If not, please provide the reasons.


Do you agree?

I think it is unnecessary and don't agree.
In fact everyone knows they earn commission out of it. Regardless of how much they get, eventually they still have to sell the product and people have to make the choice of buying it.

And if I am a BMW salesman, doesn't necessary means I have to own 1 before I can sell it if I can't afford it. There are a lot of insurance investment products. Numerous. But the agent doesn't mean have bought every single one as every single product is catered to different people's needs.

However, the only thing I can say is read all the fine print. Especially those that seems harmless.

 

[lolabunny]

Why ruin a good product with unnecessary details?

How do I synchronize the time displayed on the forum to the time at the moment. Mine's displayed in GMT. :(

 

[tonychat]

This may not be the requirement of the financial institutions or the regulatory bodies, but I suggest that you insist that the person trying to sell you investment products answers the following questions:

1. How much commission do you get?
2. How much commission does your financial institution get?
3. Do you personally have this investment product currently? If not, please provide the reasons.


Do you agree?

Why?? another sinkie effort trying to find out how much the other pple earns so you can compared and cehck who is superior. Please refrain from such sinkie effort, not healthy.

 

[masgnoeL]

Item 1 is already a requirement under the FAA and FAR.
Item 2 is too broad. For example, the investor can look at all the costs, like management fee, which is 3% or lower, but more important is the annual report
and balance sheet of the FI and the investment principals, which an untrained eye would not understand.
Item 3 is not necessary and is an invasion of personal privacy. Should not even suggest it. It is communist.

The general consensus now is to have private activist groups that represent the retail investors. Of which, the recent activities of TKL should lead to the eventual
setting up of such a group, if there is enough motivation and public interest.

 

[kakowi]

There is a newspaper article (i cannot recall the source) where a bank's financial adviser was interviewed. She said that she will tell the customer the cons but will slant the sales talk to the pros. After all, she said, this is a business.

Thus, so long as we are knowledgeable and do our own homework, that will be our best defense.

 

[Leongsam]

How do I synchronize the time displayed on the forum to the time at the moment. Mine's displayed in GMT. :(

Go to your user CP and select your own time zone.

 

[singveld]

This may not be the requirement of the financial institutions or the regulatory bodies, but I suggest that you insist that the person trying to sell you investment products answers the following questions:

1. How much commission do you get?
2. How much commission does your financial institution get?
3. Do you personally have this investment product currently? If not, please provide the reasons.


Do you agree?

if you are trying to sell something.

you tell them the good points and hide the bad points

bank just want your money

they are not there to help you grow money

if you understand that, you are ok.