You are a financial advisor with a client who purchased 100 shares of stock in a fund with a net asset value of $21.30 and an offer price of $21.45. Your client wants to make $20 per share on the stock when it is sold. The client calls you to find out why you have not sold the shares today, because they saw the stock listed with a net asset value of $41.30 and an offer price of $41.45. Explain to your client why you have not sold the shares.
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FINANCIAL ADVICE
We were set up in early 2016 to provide a trusted source of trustworthy expat financial advice by arranging referrals to professional, regulated and fully qualified International Financial Advisers to English speaking expatriates Worldwide. We did this after seeing evidence of more and more expats around the World being ripped off by unregulated or simply unscrupulous advisers.
We act as a vetting service to ensure that any adviser we pass on to a client is bona fide, and working under a proper licence in a tightly regulated jurisdiction. Such firms will have their own money locked in a kind of bond with their local regulator (via a mandatory capital adequacy requirement for the maintenance of the licence) and they therefore have something to protect and cannot run away if they receive many complaints. However this is only relevant if the jurisdiction they are licensed in takes complaints very seriously, so we take this into consideration as well.
To avoid being ripped-off by an unscrupulous overseas adviser – contact us HERE
Any firms we work with must also have valid Professional Indemnity cover in place which is another cost they need to keep under control, as their insurer with either withdraw their insurance cover completely or make substantial increases for the cost of such cover if lots of complaints are received and upheld. These two factors alone will not necessarily mean that a firm is not operating a policy of selling whatever pays the most commission, but it is a start. Where clients are being consistently overcharged and/or badly advised into investing into high commission paying and high risk investments, this will almost always end in this firms receiving complaints as well as negative feedback on the interne
We were set up in early 2016 to provide a trusted source of trustworthy expat financial advice by arranging referrals to professional, regulated and fully qualified International Financial Advisers to English speaking expatriates Worldwide. We did this after seeing evidence of more and more expats around the World being ripped off by unregulated or simply unscrupulous advisers.
We act as a vetting service to ensure that any adviser we pass on to a client is bona fide, and working under a proper licence in a tightly regulated jurisdiction. Such firms will have their own money locked in a kind of bond with their local regulator (via a mandatory capital adequacy requirement for the maintenance of the licence) and they therefore have something to protect and cannot run away if they receive many complaints. However this is only relevant if the jurisdiction they are licensed in takes complaints very seriously, so we take this into consideration as well.
To avoid being ripped-off by an unscrupulous overseas adviser – contact us HERE
Any firms we work with must also have valid Professional Indemnity cover in place which is another cost they need to keep under control, as their insurer with either withdraw their insurance cover completely or make substantial increases for the cost of such cover if lots of complaints are received and upheld. These two factors alone will not necessarily mean that a firm is not operating a policy of selling whatever pays the most commission, but it is a start. Where clients are being consistently overcharged and/or badly advised into investing into high commission paying and high risk investments, this will almost always end in this firms receiving complaints as well as negative feedback on the interne
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