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Old 15.03.2011, 13:59
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Papa Goose Papa Goose is offline
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Re: Financial Mis-selling to expats

As a ex-financial services manager I can tell KMGSuisse:

If you think cold calling is anything more than an unprofessional way of damaging your firm's image and reputation to the very people you claim to represent, 'hoss on matey. For every person you take on, you will repel dozens more, and this has long been understood. It is cheap however, especially when done from the UK. Any firm who has a director who is unable to grasp that, should really refrain from highlighting the fact.... oh you didn't say which firm did you.

Here is my experience (maybe your firm who knows):
Someone in my wife's firm was paid (and subsequently given a disciplinary) to hand over names of employees (oh dear), but when the woman cold called (from the UK where tele-sales jobs are way cheaper than here) I accepted a meeting with one of these advisors out of curiosity. I can say that my labrador has more financial nouse than the chap that pitched up to see me. The 'fact find' was no more than a cursory few notes revolving basically around the ages, income, and how much cash we had to invest, and after 20 minutes this genius had our case analysed (double oh dear) and for our "holistic" (how the hell would he know from what he noted down) situation (I nearly choked on my ginger nut) what he was able to recommend was a chunky front end loaded bond, which is available from any reputable UK companies, that people are likely to have heard of, with an off shore arm... with considerably less load. After 30 minutes my time and patience were up, and to stop my ginger nut joining them.... he was asked to leave.

Packaged products for people who can't manage direct investment is a reasonable way to proceed, as long as the cost are explained. BUT.... do us a favour, and leave off the sad practise of cold calling FS, it's just a poor way to do business.

EDIT: The company may or may not be one with a great relationship with it's lawyers, so I won't name them but PM me and I'll tell you... or for the puzzle junkies, the name has the same capital letters as a very reputable UK motoring organisation, and give or tale a letter, the same name as a Highland sporting estate were the fishing is not great (alledgedly) but the stalking and Speyside malt is 1st class
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Last edited by Papa Goose; 15.03.2011 at 14:20.
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