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Old 22-07-2009, 10:41 AM
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Husky Husky is offline
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Originally Posted by Investor Citi View Post
Well said!
Most so called "financial advisers" go for commission based products so normally they will intro u financial product that will pay them more commission ,they dun really care how much your money will grow/loss, so is better to invest in bonds and stocks, even in fixed deposit that can earn guarantee earning(though lower)but more safer and better than those products that "promise" to give better earning than fixed deposit.

How knowledgeable a adviser is depend on how much financial knowledge u have.
Since we are on this topic, may I just share a personal story. I recently celebrated my 30th birthday and was reminded again by a good friend of mine to "go get an insurance policy for God's sake!"

No offence to anyone here working as FAs or FCs (or whatever terms your company uses). I never had a good impression of them for the same reason listed above. I told my girlfriend about my concerns, and she arranged for me to meet her friend whom she thinks is quite "honest".

So we arranged to meet at a coffee joint for a "chat". While our friend the FA went to get drinks for us, he passed me some "reading materials".

1) Some article on dollar cost averaging
2) Some prospectus on a structured product his company was selling and

the best part of all? 3) an email purportedly from a department head stating that the product in 2 is going to be withdrawn in a few days time.

Needless to say, I didn't get anything from him at all. I mean that was really a cheap stunt he tried to pull off. I thought he was really really unprofessional. I may not be a banker but I dare say I have a pretty good knowledge about the various investment vehicles available in the market. The last thing I am going to do is to sign up for some structured product that "did well last well" and "very likely" will do well this year.

Futhermore, I wasn't exactly pleased that he didn't even bother to find out my actual needs at all, starting straightaway with his sales pitch. I think that's it. I am not ever going to buy a policy from an agent.

Anyone here knows about any policies that I can DIY? At this point, I just need a health and surgical insurance to cover for unexpected illness.
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