Either Financial Service Companies are really worried about what some people like me think of them, or there has to be some other reason that I cannot understand.
Two companies met with me in the last fortnight, and both meetings really had me a little puzzled. Unlike most other blogs/ websites I do not do any product reviews. I am quite happy with that kind of situation, and will not change my stance.
I have also found a lot of ‘effort’ at financial education by people, and some of it has left me amused. Many of these advisers themselves need a lot of training, so to see them train is plain amusing. Uma Shashikant there seems to be a lot of scope for doing Train the Trainers programs. I think CIEL should start a training program for trainers so that the damage that they can do is restricted. And this I am talking of ALL READY qualified people
In one of the product reviews (which was sent to me by a reader) the basic defect of the product – high cost has not even come out. Not sure whether it is sales / ad pressure or is it just lack of knowledge I know not.
The need for product reviews is huge, but it should be done in a particular format and with some diligence. At least 2 of the reviews were more a PR draft rather than a product review. It will not help the reader for sure – but then it will not hurt the manufacturer either! I have no clue how much is the ‘upfront’ commission or the trail commission…I cannot even guess, it just does not interest me.
However, I guess it will be sold as a ‘service’. God bless people investing in this scheme.
I hope I have not said which product – whether a mutual fund, pms, life insurance, bank, brokerage service, etc.
My stand remains the same: One word that will make you rich is NO.
Hardly matters if I am called to an office and offered coffee or to a 5* hotel and offered Pizza.
I only like filter coffee and would like to stay off Pizza.
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