Thursday, September 22, 2011

Be educated and savvy on financial matters

Why do people refuse to pay $20 to attend a 6 hour financial planning workshop organised by FISCA and yet pay $5,000 to attend a 3 day training course on forex trading or get a free talk by a financial adviser who sells them a financial product that takes away more than $5,000 in commission?

When the investor gets conned of their savings and they come to FISCA for assistance, it is too late. There is little that FISCA can do at that time.


Anonymous said...

Why? because these people are greedy and gullible.; because they think after attending those courses they can be financial EXPERTS.Whereas, your course doesn't make them big money.It is also too cheap to be of any good.It is sad there are many people.
Maybe you should design a course on how to beat the casino and make big win and charge $10K for a day course.I am not surprised these morons will be flock there.

yujuan said...

The first English proverb learnt during "God Save the Queen" anthem days is,
"Pennies wise, Pounds foolish".
However, the 6 hour workshop is bit too long, not the "expensive" $20 fee.

Anonymous said...

Dear Mr Tan
It has to do with marketing theory.

FISCA's $20 fee is in exchange for 6 hours of hard work.

The $5,000 forex trading course in 3 days is in exchange for a vision of becoming a forex tycoon.

It's like women's cosmetics. You are buying hope. Not a gooey liquid in a bottle.

I think FISCA needs to tweak its marketing message.
Sad but humans are stupid.
60% of us anyway :-)

Tan Kin Lian said...

Hi yujuan
People are spending 3 days and $5,000 to attend a 3 day course on forex trading. What is 6 hours?

Anonymous said...

People think three days are short as they think they can make million after that whereas 6 hours are too long when you learn not to be con as they think they are very smart so the course is useless to them.

Anonymous said...

People value by price, not by intrinsic value. By the same token, a $200 dollar placebo works better than a $2 one.

You should offer the exact same course with different marketing and charge $1000 for the day. You will then get that crowd. Keep the old course at the old price with a different name for those who value it at $20!

Maybe offer the $1000 course with "guaranteed to recover 90% of your investment by the end of the first day!!!" Then at the end of the class, give each person back $900!

Anonymous said...

I have seen some forex courses at OR

They offer a few hours FX showcase/preview at 20 dollars and it was 90 to 100 dollars originally. Guess what happens next, you will be kept asking to sign up a 4/5K 2 days course during the showcase.

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