tag:blogger.com,1999:blog-11702093.post53826866200200129..comments2024-03-28T17:36:33.351+08:00Comments on Tan Kin Lian's Blog: Loss of $100,000 within a few daysTan Kin Lianhttp://www.blogger.com/profile/00617069056914635271noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-11702093.post-25182078815461583222011-09-16T15:15:43.710+08:002011-09-16T15:15:43.710+08:00But I thought these insurance agents have to take ...But I thought these insurance agents have to take a course on financial planning before they can become insurance agentsSureeshhttps://www.blogger.com/profile/17527793836484908461noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-66865228097519090202011-09-15T21:06:05.847+08:002011-09-15T21:06:05.847+08:00Avoid insurance agents too.They are salesmen and n...Avoid insurance agents too.They are salesmen and no financial consultants. They are NOT qualified to advise on financial matters, whether it is insurance planning, investment planning or retirement planning. They only peddle products purportedly to address your problem s in these areas.How could these salesmen with tikam tikam certs help you plan your future? It is a big joke.MAS should wake up too. Is MAS still taking the stance that the emperor is NOT NAKED? It is a sickening industry where consumers are being raped at the lift landing, the staircase, in the void deck and everywhere.It is scandalous.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-58079514618363020342011-09-15T17:57:06.015+08:002011-09-15T17:57:06.015+08:00Avoid bank RMs and dual currency A/Cs, when the fo...Avoid bank RMs and dual currency A/Cs, when the foreign currency depreciates against S$ within a few basis points, Bank will close your account without informing you, and you will lose part of your principal.<br />Betting on currency is highly dangerous - Euro was selling at 2.14 - 2.15 before collapse. Now against S$ at 1.70, it has depreciated by 20%. The bank is making use of your money to gamble, and RMs have a sales quota<br />to meet. So avoid them like the plague.yujuanhttps://www.blogger.com/profile/09726993183726863734noreply@blogger.comtag:blogger.com,1999:blog-11702093.post-29827455169586062292011-09-15T12:51:36.108+08:002011-09-15T12:51:36.108+08:00It is very sad to lose money this way. Even sadde...It is very sad to lose money this way. Even sadder if this is the bulk of their money.<br /><br />But maybe these people are a small minority of voters, say 5%.<br /><br />Because I believe majority are sensible people who are not easily fooled by RMs.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11702093.post-79834774371739434292011-09-15T11:41:48.256+08:002011-09-15T11:41:48.256+08:00This reminds me of another story I heard around 20...This reminds me of another story I heard around 2004.<br /><br />A very experienced insurance agent (broker actually) and friend told me this story.<br /><br />A certain local bank involved in selling insurance back then was sending out sms to its RMs to sell a certain number of policies by close of business day 3pm Friday!<br /><br />Looks to me like the operating model is no different from that of a factory or a time-share telemarketing approach!<br /><br />My old-time agent/friend was dumbfounded.<br /><br />If anybody out there thinks 0.2% interest on your savings account is bad; then try negative rates of return from inexperienced investment advisors.Anonymousnoreply@blogger.com