Sep 27, 2012 05:57 AM
9512 Views
First of all, they are a scam. This is a perfect example of how a corporate with no expertise whatsoever in financial domain makes money off unsuspecting and gullible clientele, this is actually their trade secret. Milk the holy unaware cows off until not a drop of blood is left. So called investment management experts call you, (I suspect HDFC shares people's account balances with them), try to impress on you importance of investment/'portfolio management, convince you for an appointment.
On the day of appointment when you expect a preliminary brief, the guys come prepared to make a killing for the potential bakra. They come with all the documents and after half an hour of hi-flying promises, ask you the question "so, sir we suggest that you go for Aviva life insurance, HDFC retirement plan, Birla children's funds blah blah". Now choose your words carefully, or you will eventually end up a "apologetic/life time" bakra fallen to their whims. Here is a classic example of their double standards. The life time charge for their portfolio/investment management services is 10K is what you are told. They offer to produce a report of your current financial status by taking a snapshot of you investments/liabilities blah blah all which sounds to be at no charge. Later if you do not subscribe to them, then they charge you 10k for the report alone.
No matter what, these guys are out there just to rip you off your money and that too with an audacity to say on your face, "You lame duck, we are gonna screw you for life, just wait and watch!"
Stay away!
