Many banks are employing young people to be "Relationship Manager" or "Wealth Manager" to advice elderly people, with plenty of cash, in their investments. These RMs are not experienced in the world of investments and are giving bad advice to the elderly people, causing them to suffer large losses. The RMs main focus is to meet the sales targets. They are recommending questionable investments created overseas and are not suitable to be sold to unwary retail investors.
Read this sad story about the experience of "Nancy"
http://tankinlian.com/admin/file.aspx?id=720&IID=726
Nancy said, "Why are people in Singapore so dishonest nowadays?"
Read this sad story about the experience of "Nancy"
http://tankinlian.com/admin/file.aspx?id=720&IID=726
Nancy said, "Why are people in Singapore so dishonest nowadays?"
5 comments:
They are not qualified in finance , investment advisory. They are only salesmen...investment product peddlers.
Beware of them like you avoid the insurance salesmen. They both will screw up your financial future.
How could certs in ILPs or those tikam tikam certs issued by Singapore College of Insurance can ever turn them into investment experts/advisers? Do you beleive your pets can also pass these exams? Then can your pets be good investment advisers? They might make BETTER advisers because your pets don't have biases and greed.
To avoid being conned and have your future screwed up never engage these wolves to take charge of your chicken coop.
Fully agreed !
On second thought, consumers deserve to be conned and robbed.
This isn't the first time Mr. Tan has warned about buying insurance or investment products from insurance agents or RMs,. THEY ARE ALL SALESMEN WHOSE INTEREST IS TO MAKE A COMMISSION OUT OF YOU.They are not interested about your financial future.They want only to make money out of you quickly. You are the cash cows.They are not selling you cash cows. They are NOT qualified at all as financial advsiers, financial planners or financial consultants. They don't advise you. They peddle you products that benefit themselves most and the company and NOT YOU.
Mr Tan
Are the banks still selling strutured investment products created overseas that might contain toxic assets. After all the hoo har after the minibonds and pinnacle notes failure. Why is the practice still going on.
Mr Tan
Are the banks still selling strutured investment products created overseas that might contain toxic assets. After all the hoo har after the minibonds and pinnacle notes failure. Why is the practice still going on.
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