Financial Advisors?

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Financial Advisors?


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Old 3rd September 2013, 06:12 PM
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Hi guys,
After months of phone calls I finally gave in and met with an advisor from prestige wealth solutions. I must point out, it was not this company that kept contacting me it was another that shall remain nameless. Needless to say, the pestering didn't work and I went somewhere else!

Has anyone heard of PWS? Are any of you current clients? What are your thoughts?
Having met the guy and talked for a good few hours what he says makes sense and nothing screams con to me, I'd just like to be sure before I throw a shed load of money his way and see nothing back!

Your thoughts and opinions would be greatly appreciated!

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Old 3rd September 2013, 07:45 PM
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Quote:
Originally Posted by mevans View Post
Hi guys,
After months of phone calls I finally gave in and met with an advisor from prestige wealth solutions. I must point out, it was not this company that kept contacting me it was another that shall remain nameless. Needless to say, the pestering didn't work and I went somewhere else!

Has anyone heard of PWS? Are any of you current clients? What are your thoughts?
Having met the guy and talked for a good few hours what he says makes sense and nothing screams con to me, I'd just like to be sure before I throw a shed load of money his way and see nothing back!

Your thoughts and opinions would be greatly appreciated!
Please don't do it. The only person to make money from such investments will be the guy selling it to you.

Do not buy anything that sounds like a pension package and do not commit regular payments of large amounts of money for a long time.

I have met only one guy here who is not like the rest. He has known one of my friends in Bahrain for over 20 years and my office manager for over 12. He works by referral and does no cold calling. I made a will through one of his colleagues and will invest when my divorce is finalized.

Do you think these companies do the cold calling for fun?!?
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Old 4th September 2013, 08:39 AM
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Please don't do it. The only person to make money from such investments will be the guy selling it to you.

Do not buy anything that sounds like a pension package and do not commit regular payments of large amounts of money for a long time.

I have met only one guy here who is not like the rest. He has known one of my friends in Bahrain for over 20 years and my office manager for over 12. He works by referral and does no cold calling. I made a will through one of his colleagues and will invest when my divorce is finalized.

Do you think these companies do the cold calling for fun?!?
This guy didn't cold call, I was referred by a friend. It was the devere group that kept cold calling me, needless to say they are getting nothing from me!!

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Old 4th September 2013, 09:23 AM
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These people pressure leads from people they've already conned or as a bargaining tool to leave people alone.

The bottom line is anyone can say *anything* to you about a policy or investment here because there is zero regulation. Even the nice guys that aren't promising you millions within five years can say anything they want with little come back.
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Old 4th September 2013, 10:22 AM
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Before you do any investing, please visit andrewhallam dot com and click on the warning button.
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Old 10th October 2013, 05:04 AM
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I have no idea about the company you mention, and know a few people who are honest, have integrity and try to do the best for the clients. The thing to watch out for, I am informed, is brokers who are truly independent and are therefore not focused on selling a particular product or pushing one of their funds.

Regarding a couple of companies who appear to top the list of cold callers, I was again told by someone who had the misfortune to work there that their employee model is commission only. They employ some poor sod to do the cold calling and that person is paid out of the broker's commission when they manage to sell the policy. As you can imagine this leads to persistence and pressure borne out of desperation. It is much kinder to cut them off in the first minute I always think. "Aye haf no monay" often works, followed, in extremis by "I haf no zob, can yew gif me one?"

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Old 10th October 2013, 06:30 AM
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their employee model is commission only.
Most have to pay for their own stationery, deskspace, phone calls etc.

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Old 10th October 2013, 07:26 AM
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before getting rude, i generally go with "i never sign up to any product or policy on which an agent or broker commission is available - now, what would you like to talk about?"

then i get rude

if i'm really bored, i like to keep them talking, put them on hold for a while, and generally take half an hour out of their day to stop them bothering others. It can be fun! First the disclosure that you are about to inherit ridiculous family wealth, followed by an admission that you have no clue about money, throw in some "how would i finance a helicopter?" etc..

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Old 12th October 2013, 08:37 AM
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if you are looking for a good honest financial advisor I highly recommend Matt Newman at lime financial , let me know if you want his contact details .

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Old 12th October 2013, 03:15 PM
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I have yet to meet a finacial adviser here who will work on the basis that I pay an agreed fee in cash for his/her services.

The idea of these people getting paid in (usually undisclosed) commission can obviously sway what they advise..

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