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  #221  
Old 17.05.2018, 11:19
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Re: Dealing with financial services "cold callers"

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Even worse I just discovered there is a limit on the number of numbers I can block on my fixnet phone, I just hit the limit
The number blocking function is for blocking people like mothers in law who you can't be rude to without there being some dire consequences.

Feel free to be as rude as you want to cold callers. What are they going to do? Blacklist you and threaten to never call you again?
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  #222  
Old 17.05.2018, 16:35
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Re: Dealing with financial services "cold callers"

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The number blocking function is for blocking people like mothers in law who you can't be rude to without there being some dire consequences.

Feel free to be as rude as you want to cold callers. What are they going to do? Blacklist you and threaten to never call you again?
I don't want my phone ringing at all. The search.ch mobile phone app can suppress the ringing for numbers it suspects are call centres, which is neat.

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Even worse I just discovered there is a limit on the number of numbers I can block on my fixnet phone, I just hit the limit
I used to cycle through the blocked numbers, by putting a date in the description. Now I've found that I can make the box only put through numbers marked as important, in the address during a time period, which I've set to 24 hours.

For all other numbers, they go to the voicemail. If it's important, they'll leave a message. Or have my mobile number anyway.
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  #223  
Old 17.05.2018, 18:09
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Re: Dealing with financial services "cold callers"

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Im getting tons of scam calls from investment "companies"... any way to stop them? Honestly the only thing i can do is to block their numbers...

Its funny how they call from all over the world, from Rumania, Uk, Germany, Croatia, and even Canada.....

The REAL problem with these calls are that I always ignore them, but what if there was something important from, lets say, Germany?... I would have ended the call not even answering...
I wonder how you (or anyone else) even knows from which country they are or purport to be. This means you've done the work of looking up the number, or that you've actually spoken to some of them for long enough to ask them.

I don't bother. If I happen to identify a number as one I suspect, I just don't answer. If ever I do answer (because the number magically shows as local, or seems to me to resemble one I might really want to receive), I listen for only long enough to hear: "Hello, my name is …" or "Hello, I'm calling from the centre…" and then say: "No. This number does not accept advertising," and hang up immediately.

I find that I get a wave of calls, perhaps 3 or 10 within a week or so. I respond to all of them as above. Then I have about 6 months' peace, till the next wave.

As with anyone else who is bothering you, the more you enter into any part of what they are about, the more reason they have to go on with what they want to say.

And if anyone really, really needs to reach you, personally, they will most likely find a way through some other means.

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Plus, when you say you are not interested they get angry, saying things like "BUT WHAT? YOU ARE NOT EVEN LISTENING TO ME!..." "YOU DONT WANT TO MAKE MORE MONEY????..." and so on... xD
By using the above method, this can never happen.

The reason they get angry is because they usually have a low-paid, noisy job in a huge room of callers, and many are paid on commission only, or mainly through commission. They work there at all because they can't find a better job, and it is frustrating to do so for hours and not manage to make a single sale, and then have to go home with no earnings despite having invested effort and time.

I figure that while I am not friendly, at least I save them a few minutes of telling me - to no avail - about whatever it is they are trying to sell. Based on the fact that the "wave" as described above soon dies down, I suspect that they flag my number, as not worth their trouble.
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  #224  
Old 17.05.2018, 19:19
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Re: Dealing with financial services "cold callers"

There are some cold call systems that retry your number if it's not answered, so I nearly always pick up, but 95% of them don't immediately have a person on the other end, so I hang up straight away. The delay while an operator is selected and reads your name off the screen before connecting to you is easy enough to identify.

If there is a real person dialing, and certainly some of the calls I get in France are not fully automated, then they normally start by asking you to confirm your name. It annoys the hell out if them when you refuse to do so, and I nearly always ask them to say who's calling first, then if they continue I just say 'non, merci' and hang up as soon as they start their spiel.

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Based on the fact that the "wave" as described above soon dies down, I suspect that they flag my number, as not worth their trouble
I doubt it. I see no noticeable difference whether I'm at home and deal with the call as stated or away for a few weeks. (I always see how many missed calls there have been on the phone display).
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  #225  
Old 18.09.2018, 10:22
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Re: Dealing with financial services "cold callers"

I just had a call from another "financial adviser" that I hadn't come across before: Alpha Global Wealth based in Geneva.

Here is their website: www.alphaglobalwealth.com

According to Moneyhouse the firm is controlled by James Barnes, who used to work at.... wait for it.... deVere Group according to his LinkedIn profile! Would you believe it!

The guy calling to set up a meeting with his boss couldn't (unsurprisingly) tell me who they were regulated by but was keen to set up a meeting to discuss my personal finances. I gave him some of my own "financial advice" - to get a new job...
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  #226  
Old 23.10.2018, 17:37
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Re: Dealing with financial services "cold callers"

CSSF warns public about unauthorised firms

Lux Investment Pty Ltd, presenting itself as Luxembourg Offshore Banking, has not received authorization


https://luxtimes.lu/luxembourg/35346...thorised-firms
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  #227  
Old 23.10.2018, 20:08
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Re: Dealing with financial services "cold callers"

Got an email today from Client Relationship Manager at W1 Investment Group in Italy who do not seem to have any licence to operate in Switzerland

It came via Linkedin!
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  #228  
Old 30.10.2018, 12:11
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Re: Dealing with financial services "cold callers"

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I just had a call from another "financial adviser" that I hadn't come across before: Alpha Global Wealth based in Geneva.

Here is their website: www.alphaglobalwealth.com

According to Moneyhouse the firm is controlled by James Barnes, who used to work at.... wait for it.... deVere Group according to his LinkedIn profile! Would you believe it!

The guy calling to set up a meeting with his boss couldn't (unsurprisingly) tell me who they were regulated by but was keen to set up a meeting to discuss my personal finances. I gave him some of my own "financial advice" - to get a new job...
Hi GenevaSculler,

I was the one who made the call to you that day. I apologise I wasn't able to answer your question; due to the fact I was part way though my training - as you could probably tell I was new to this job. I was extremely polite and professional in the midst of your apparent frustration and rudeness. Clearly, I caught you at a bad time.

As you did your extra research on James and the company, I'm sure you were able to find out that Alpha Global Wealth is regulated by ARIF with oversight from FINMA, our regulation number in Switzerland is 3086.
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  #229  
Old 30.10.2018, 12:24
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Re: Dealing with financial services "cold callers"

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I was extremely polite and professional in the midst of your apparent frustration and rudeness.
I'm not groaning or red blobbieing because you are, right now, being very polite and actually responding, which I respect - however, please note that cold calling is invasive and rude.

From my POV, you cold call my personal number with a personal business proposition, you open yourself up to whatever and however I want to respond. After all, you're showing up uninvited on my metaphorical porch, trying to hustle me. It's not welcomed, ever. My number is unlisted, and if you have it, you got it improperly.

Strangely enough, since I listed a DNC about financial services on my LI profile, I've never had a call, so I assume the normal procedure is LI fishing, as is the "call for my boss" to avoid actually trying to sell something on a cold call.
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  #230  
Old 30.10.2018, 12:29
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Re: Dealing with financial services "cold callers"

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Hi GenevaSculler,

I was the one who made the call to you that day. I apologise I wasn't able to answer your question; due to the fact I was part way though my training - as you could probably tell I was new to this job. I was extremely polite and professional in the midst of your apparent frustration and rudeness. Clearly, I caught you at a bad time.

As you did your extra research on James and the company, I'm sure you were able to find out that Alpha Global Wealth is regulated by ARIF with oversight from FINMA, our regulation number in Switzerland is 3086.
Good to know you belong to such an organisation.
ARIF is a private non-profit association of public utility, whose purpose is to assist in the prevention of and the fight against money laundering .

I did not find anything in the ARIF web site that they provide any of the sort of investor protection that people might expect from "oversight from FINMA".
Nor did I find anything that states ARIF licences their members to offer financial services.

Of course I may have missed this vital information so please feel free to correct me.
Thanks in anticipation.
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  #231  
Old 30.10.2018, 12:58
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Re: Dealing with financial services "cold callers"

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Good to know you belong to such an organisation.
ARIF is a private non-profit association of public utility, whose purpose is to assist in the prevention of and the fight against money laundering .

I did not find anything in the ARIF web site that they provide any of the sort of investor protection that people might expect from "oversight from FINMA".
Nor did I find anything that states ARIF licences their members to offer financial services.

Of course I may have missed this vital information so please feel free to correct me.
Thanks in anticipation.
You are 100% nothing to do with selling of financial services
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  #232  
Old 30.10.2018, 13:59
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Re: Dealing with financial services "cold callers"

@GenevaSculler

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According to Moneyhouse the firm is controlled by James Barnes, who used to work at.... wait for it.... deVere Group according to his LinkedIn profile! Would you believe it!
It might not surprise you to know that James Barnes' LI profile no longer mentions DeVere Group. Strange that

However if you dig a bit, DeVere is still in his "following - Companies" list - guess the clean-up missed that, will probably be gone shortly after Canners reads this

BTW I looked at the recommendations he has from others and I rather suspect many of them were written by the same person - might be wrong, but I doubt it.
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  #233  
Old 30.10.2018, 14:10
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Re: Dealing with financial services "cold callers"

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Hi GenevaSculler,

I was the one who made the call to you that day. I apologise I wasn't able to answer your question; due to the fact I was part way though my training - as you could probably tell I was new to this job. I was extremely polite and professional in the midst of your apparent frustration and rudeness. Clearly, I caught you at a bad time.

As you did your extra research on James and the company, I'm sure you were able to find out that Alpha Global Wealth is regulated by ARIF with oversight from FINMA, our regulation number in Switzerland is 3086.
How do you know that? Do you guys have a one person call centre? Or do you have the magic button that reveals the true identity of Geneva Sculler to you?


P.S> While I have the odd feeling that you might not be an actual person do I give this piece of advise to anyone who works for one of these companies reading this: This forum isn't full of people who are bitter because they were cheated by you... there might be a few, but we have way more user who work in the financial industry with many years of experience.


Since you work in business development for a dodgy service company are the chances high that you are in your early 20s, finished university with some non-MINT degree and jumped at the chance to start your career in a shop that looks good and promised you loads of training as well as a great income... and on top of that the chance to make some work experience abroad. Chances are that you were trained to do cold calls and sell some stuff according to some script. That does not make you a financial advisor.


Listen carefully: Run away while you still can. Any decent bank and their HR do know what kind of company you work for. You are burning your CV within a few months there. Better stop now and pretend you made a world trip or similar...
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  #234  
Old 30.10.2018, 14:42
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Re: Dealing with financial services "cold callers"

Hi Canners,

Just to follow-up, I do not ever want to be cold called. As previously discussed, that is what I consider rude.

After the usual introductory waffle about wanting to set up a meeting with your boss, I suggested to you that maybe you should find another job as I have actually had some interesting discussions with other young guys who have also cold called me from DeVere and other associated companies who all seemed to have a similar profile to yours. To summarise: young, no financial advisory experience or indeed any relevant qualifications, interested to get into the world of finance, and rapidly learning that what they signed up for when moving to Switzerland to join company XYZ wasn't much like the reality of cold-calling for a firm that could at best be described as ethically dubious.

With regards your specific point about ARIF (which I know a decent amount about as my firm is registered with both ARIF and FINMA), Alpha Global Wealth SA is a member of ARIF only in relation to money laudering, and is not even signed up to the Code of Deontology which "sets forth the rules of good professional pratice for independent asset managers". To use your partial ARIF registration as some sort of justification that your firm is registered to provide financial advice to me in Switzerland is laughable and, one assumes, a deliberate ploy.

Last edited by GenevaSculler; 30.10.2018 at 14:56.
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  #235  
Old 30.10.2018, 16:30
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Re: Dealing with financial services "cold callers"

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With regards your specific point about ARIF (which I know a decent amount about as my firm is registered with both ARIF and FINMA), Alpha Global Wealth SA is a member of ARIF only in relation to money laudering, and is not even signed up to the Code of Deontology which "sets forth the rules of good professional pratice for independent asset managers". To use your partial ARIF registration as some sort of justification that your firm is registered to provide financial advice to me in Switzerland is laughable and, one assumes, a deliberate ploy.
If I read the offering of Alpha Global Wealth SA it looks like could be subject to signing up to a FINMA recognized Code of Conduct/Code of Deontology.

But even if they are not subject to one by law, why not join the ARIF Code of Deontology https://www.arif.ch/IMG/pdf/directive_14_e.pdf voluntarely ???
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  #236  
Old 30.10.2018, 19:57
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Re: Dealing with financial services "cold callers"

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Alpha Global Wealth is regulated by ARIF with oversight from FINMA, our regulation number in Switzerland is 3086.
On englishforum, we don't mind that your employer thinks we're stupid. It's when they send you along to try and prove it, that we get annoyed.

ARIF is a self-regulating organisation with objectives focussed on money laundering and terrorist financing.

FINMA's recognition of ARIF is for their activities in the context of combating money laundering and the financing of terrorism.

Regrettably, Alpha Global Wealth, domiciled in chemin du Pavillon 5, 1218 Le Grand-Saconnex has no license or authorisation from FINMA.

You are breaking Swiss law with every phone call and meeting.

FINMA issues clear warnings about organisations just like your employer.

Buyer beware, I suppose.
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  #237  
Old 31.10.2018, 16:43
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Re: Dealing with financial services "cold callers"

I add Belgravia Wealth Management, located on rue de la Servette 1, 1201 Genève.

Company set up on the commercial register less than 2 years ago with the lowest possible capital. (still much older than Alpha Global Wealth).

High pressure cold call sales tactics. Refusal to take no for an answer.

On the phone today, he told me that they are authorised and regulated by FINMA. He couldn't find the FINMA number, when I asked. This is because it doesn't have one. He then told me that the ARIF number is their FINMA authorisation and registration.

Mark Saunders. If you are reading this, neither you, nor Belgravia Wealth Management are complying with Swiss law when you cold call and attempt to sell unlawful, unregulated pension financial advice.

Indeed FINMA gives clear warnings about organisations that behave just like yours.
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  #238  
Old 31.10.2018, 17:29
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Re: Dealing with financial services "cold callers"

Be careful HIAO, an asset manager does not need an independent authorization by FINAM. Being a member of an SRO might be enough.

Depending on the coverage of the SRO membership, MLA only or also subject Code of Conduct/Code of Deontology the asset manager is limited what they can offer to its customer.

If they do not submit themselves to an FINMA approved code of conduct they cannot offer collective investments products to non-qualified investors (a.k.a the general public). But if they submit themselves to a FINMA approved Code of Conduct they can offer collective investments products also to the general public.
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  #239  
Old 31.10.2018, 17:36
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Re: Dealing with financial services "cold callers"

heres how

https://www.swisscom.ch/en/about/med...ter-works.html
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  #240  
Old 31.10.2018, 17:42
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Re: Dealing with financial services "cold callers"

I must be slipping. Just had my first ever call today, apparently from Liverpool. Told them to pi$$ of and blocked the number.

Would still like to know how they got hold of the number and attached it to a half Brit though however as it's a mobile and not listed anywhere. Including not in Linked In.
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