Yet another FA story

[Chris7]

I do commissioned sales, but generally on an institutional level. However, when someone tells me no or to wait for their call I do. When someone is prospecting me, I want them to honor my no and not keep "hounding" me. Now, if they said they would call back and they hadn't for a period of 2 to 3 weeks, I would make a follow-up call. Usually, I can sense a brush-off and take a hint if nothing positive comes out of that call. :O)

Do please update this post if you do opt to meet with them.

 

[MRG]

No, please don't do that, most of us here appreciate your situation and want to see how it evolves.

+1

 

[Texas Proud]

I'm sure he is busy too. He is likely trying to schedule multiple appointments with clients and doesn't want to blow you off and instead trying to prioritize you given your seemingly sincere intent. He is calling to give you pick of his schedule. Not high pressure at all. Courteous. Yes.

Many times people claim to "call you back " and get busy and never do so.
That's lost business for him and probably happens half the time so he NEEDs to be persistent. It's the nature of the role and the job.

I'd bet he also gives up his weekends and off hours to meet with people cutting into HIS time to spend with his own kids and family. Just tell him no thanks and move on... Or call him back as promised and set a time a few weeks out. You can always reschedule.

Be kind. Rewind. I think your view is a bit arrogant, as if your family time is more valuable - he already gave you a free seminar. Be decent enough to return his call and maybe even give him the feedback. He would probably appreciate that too and would definitely wait 2 weeks to call you back. I'm sure he is not intending to upset you ..

Better to go it alone. Tell him kindly that you enjoyed his free seminar (if you did enjoy it).

I will disagree with you....

The seminar was on Thurs.... so probably did not get a call until Fri.... and was told he would get a call back from OP... but still called 3 more times in say a 24 to 36 hour time frame.... that is pushy.... also, he can leave a message if there is something important that he forgot to say... even a 'call me back as I had forgot to tell you something'....

He should be spending his time on the others who have shown more interest in his products.... and give them the best times... first come, first served...

I could care less if he is giving up his weekends and evenings... that is the nature of his job.... kinda like a real estate agent, you have to show the properties when the client wants to be shown.... not when it is convenient for you...

 

[MRG]

...snip..

I could care less if he is giving up his weekends and evenings... that is the nature of his job.... kinda like a real estate agent, you have to show the properties when the client wants to be shown.... not when it is convenient for you...

Yes to only give up weekends and evenings would be a breeze. That guy gets to sleep all night long. Nobody ever wined about getting a full nights rest. I didn't care for it, or being called 24x7x366 but it was part of the job.

 

[papadad111]

I will disagree with you....

The seminar was on Thurs.... so probably did not get a call until Fri.... and was told he would get a call back from OP... but still called 3 more times in say a 24 to 36 hour time frame.... that is pushy.... also, he can leave a message if there is something important that he forgot to say... even a 'call me back as I had forgot to tell you something'....

He should be spending his time on the others who have shown more interest in his products.... and give them the best times... first come, first served...

I could care less if he is giving up his weekends and evenings... that is the nature of his job.... kinda like a real estate agent, you have to show the properties when the client wants to be shown.... not when it is convenient for you...

Well...OP chose not to even answer the phone.

A simple "I'm sorry but I'm not interested" suffices.

You're also assuming OP had voicemail or a means to leave a message. Unclear if that was or was not the case. I presume not.

Many FAs don't leave messages due to confidentiality too..

But it's ok to disagree with me too.

(mod edit)

 

[MichaelB]

Let's keep it friendly, eh?

 

[target2019]

This is one of the reasons I ported landline to a tracfone. When someone asks for our number, I have the option of giving him/her the number we never answer. And never set up voice mail, so it acts as a filter for much of the annoying crap in this world.

 

[Teacher Terry]

I have been in a similar situation OP. Pretending to tell you about SS when all they really want to do is sell crap. The guy is pushy. One call fine-3 more and no way. WE never met with ours when we intended to originally because of this.

 

[mystang52]

I was curious about the SS analysis too. It was a big disappointment since there was no analysis. I ended up with a printout that showed how much better off I'd be after turning over our stash.
- wait til 70 for SS.
- we'll put you in many marvelous stocks that will pay you fantastic dividends.
- we have access to the best products around (annuities, preferreds)

UPDATE: More out of curiosity, and I knew I had to be home anyway, I scheduled to meet with him today. Never did get that promised personalized Social Security analysis. But he did give me another personalized analysis that - drum roll please - demonstrated how I will run out of money by age 85 or so. That is, unless I buy his guaranteed annuity.
So, very similar to Mr. Target 2019's experience. Interestingly, he pooh-poohed MY analysis that I would never run out of money, dismissed all of my comments challenging his assumptions, etc etc. I was polite for almost a half-hour, then politely told him this wasn't going anywhere so he may as well leave.

 

[Mulligan]

UPDATE: More out of curiosity, and I knew I had to be home anyway, I scheduled to meet with him today. Never did get that promised personalized Social Security analysis. But he did give me another personalized analysis that - drum roll please - demonstrated how I will run out of money by age 85 or so. That is, unless I buy his guaranteed annuity.
So, very similar to Mr. Target 2019's experience. Interestingly, he pooh-poohed MY analysis that I would never run out of money, dismissed all of my comments challenging his assumptions, etc etc. I was polite for almost a half-hour, then politely told him this wasn't going anywhere so he may as well leave.

Any chance you misheard him Mystang? Maybe he said HE would run out of money by 85 if you didnt purchase the annuity.


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[rodi]

any chance you misheard him mystang? Maybe he said he would run out of money by 85 if you didnt purchase the annuity.


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lol +1

 

[ScottS]

Any chance you misheard him Mystang? Maybe he said HE would run out of money by 85 if you didnt purchase the annuity.


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+2 ! :-D

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[Danmar]

A quote from Investor's Manifesto by William Bernstein that comes to mind " If you act on the assumption that every broker, insurance salesman, mutual fund salesperson and financial advisor you encounter is a hardened criminal, you will do just fine."

This has always been my approach. I have never had any contact with a FA. I avoid any possibility of such. Have never bought any financial product that was being "sold" to me. I am always surprised when people accept the invitations for a "free" dinner/lunch/whatever. Not worth it.

 

[Ready]

I find it a bit laughable to refer to these people as financial advisers. Most of them don't have a clue about how to give financial advice. They just know how to peddle high commission products to unsuspecting individuals.

 

[mystang52]

OP here. I am getting my deserved punishment for even meeting with the guy. DW has been giving me unrelenting grief about this.

 

[kcowan]

I was polite for almost a half-hour, then politely told him this wasn't going anywhere so he may as well leave.

 

[Coolius]

After reading this thread, decided to cancel a "free" lunch with a FA from Fisher Investments next week.

I rescheduled a root canal for that time slot instead.

 

[CaliforniaMan]

Yes, he sounds desperate, pushy, needs a client.

I've been to about a dozen dinners. At least we were full after the pitch.

One FA gave the "optimise your SS" decisions pitch. I took spouse for the followup discussion, as I wanted her to be more knowledgeable about the sales pitch, and how persuasive it could be. The discussion was entirely one sided. There was a serious tilt to the assumptions. How could we turn them down?

If you're strong willed, take it to the next level, but if you're short on time, don't waste any of it.

This sound like a really good idea, and as painful as it will be, I think I will do that too at some point. Will be a good way for my wife to realize what she will be up against if and when I am no longer able to manage our finances. Maybe attending this kind of event should be required study.

 

[imoldernu]

The Legal Aspect

This isn't my bag, but there are some proposals that may change the whole FA playing field.
If the link doesn't work, try to google the title.

how-fiduciary-rule-may-censor-financial-broadcasters-like-dave-ramsey

Forbes Welcome

What's public, and what's private and how could it affect the investor?.