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post #1 of 15 (permalink) Old 06-05-2009, 10:56 AM Thread Starter
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Financial Advisor Question

So I met with an aquaintence of mine, who recently became a financial advisor, with a major firm. He wanted to do one of those introductory "interviews," where he presents his company, their products, etc., to try and get me to invest money and/or buy their insurance products. I'm already set, but agreed to meet so he could at least practice interviewing folks.

The interview was typical up until the end, when he started talking about referrals. Along with asking me to think of people who I might be able to refer to him, he went on to say that his company also does "homework" on prospective clients like myself, and he then produced a printed list of "known associates," that they had dug up on the internet. In this case, it was a list of 6 dozen of my coworkers.

This rather shocked and appalled me, and I let him know that. It creeped me out that a corp was digging around like this, just to try and gain further referrals. We discussed the tactic of why they did it, and it is apparently something that they teach their financial advisors to do. I guess the idea is, is to put a list of names in front of a person, and that person should say "oh yeah, X and Y... yeah... Z, no... blah, blah, blah." I know several other financial advisors and NONE of them have ever done anything like this.

What are your thoughts? Creepy and crossing the line? Acceptable business practice? Revolutionary?
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post #2 of 15 (permalink) Old 06-05-2009, 11:09 AM
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I've gotten used to this over the years. I found it creepy at first as well. In my line of work brokers from all the major firms profile me. The keep logs of everything they hear about me. I've literally had someone I didn't know from a firm call me up and ask me how my dog was doing and knew its name!!! It must have gotten in his profile log through the grapevine somewhere. They are just doing a job. They need to network and have it easy now a days with the internetz.

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post #3 of 15 (permalink) Old 06-05-2009, 11:12 AM
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Scary stuff. In this day and age of internet buisness, that seems to be the norm. I wish we could go back to looking someone in the eye when you are doing buisiness.

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post #4 of 15 (permalink) Old 06-05-2009, 11:25 AM
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Everybody knows everything about everyone. It's the digital age.

However, I doubt the FA is going to hunt you down or peer through your window while you undress with that info, so not too certain why it's entirely that creepy, but I get your vibe somewhat.

Another side effect: People are way to weary of other people in the digital age. It creates a false sense of insecurity for a lot of people because you obtain this feeling of "Shit could go down at any time". Very few people can see the good anymore and are almost always looking inherently for the bad.

As your attorney, I advise to you take this acid
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post #5 of 15 (permalink) Old 06-05-2009, 11:26 AM
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We are a not for profit and our foundation solicits funds from many. I was shocked when I was reviewing/auditing their database and saw all the information they had on their prospects. I guess the good and the bad is that I am not worth enough for them to have my info in there. LOL

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post #6 of 15 (permalink) Old 06-05-2009, 11:35 AM Thread Starter
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I wasn't too surprised by the list that my friend pulled up. It's all public information, if you do a little bit of homework. What really put me off is how I was just presented with such a list, as such a sales/networking tactic was new to me. Rationally, I know it's public information, but irrationally, it still struck me as creepy.

I guess I really wanted to know whether I was the only one who felt that way. If he wasn't an aquaintance, I would have told him to go fuck himself.
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post #7 of 15 (permalink) Old 06-05-2009, 11:38 AM
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Quote:
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If he wasn't an aquaintance, I would have told him to go fuck himself.
They would have written that down in your file then you wouldn't be able to get a loan anywhere.

They'll blacklist you somethin' fierce, like that Seinfeld episode with Elaine and the doctor file.

You'll have to send in Dr Van Nostrin

As your attorney, I advise to you take this acid
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post #8 of 15 (permalink) Old 06-05-2009, 11:39 AM
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Quote:
Originally Posted by Bek View Post
I wasn't too surprised by the list that my friend pulled up. It's all public information, if you do a little bit of homework. What really put me off is how I was just presented with such a list, as such a sales/networking tactic was new to me. Rationally, I know it's public information, but irrationally, it still struck me as creepy.

I guess I really wanted to know whether I was the only one who felt that way. If he wasn't an aquaintance, I would have told him to go fuck himself.

Personally, I don't think he would have shown you the list if he wasn't an acquantance

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post #9 of 15 (permalink) Old 06-05-2009, 12:24 PM Thread Starter
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Quote:
Originally Posted by Meulen View Post
Personally, I don't think he would have shown you the list if he wasn't an acquantance
I asked him about it, and they're taught to present that list to all new potential clients, regardless of whether they're friend, family, acquaintance or stranger.
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post #10 of 15 (permalink) Old 06-05-2009, 12:32 PM
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I asked him about it, and they're taught to present that list to all new potential clients, regardless of whether they're friend, family, acquaintance or stranger.

wow....yeah that's weird. The only reason I know about the profiling in my business is because of friends who told me. Otherwise, sales traders were just instructed to use the profile to stike up conversation and gain trust. That seems like a very aggressive tactic that is a definite turn-off for most people. If someone presented that list to me I'd probably throw them out of my house if I didn't know them

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post #11 of 15 (permalink) Old 06-05-2009, 12:48 PM
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this is why I purposely publish bad information.
Just hoping for the day when one of those people has to try and ask me with a straight face if any of my co-workers.. Miss Ginger Lynn, Ronald Jeremy, Pete Steele, Samantha Foxx, or Houston would be interested in their services.

But seriously if they looked you up on the internet.. It would almost bne more interesting if they started asking you about your friends by their goofy ass internet handles
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post #12 of 15 (permalink) Old 06-05-2009, 12:52 PM
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this is why I purposely publish bad information.
Just hoping for the day when one of those people has to try and ask me with a straight face if any of my co-workers.. Miss Ginger Lynn, Ronald Jeremy, Pete Steele, Samantha Foxx, or Houston would be interested in their services.

But seriously if they looked you up on the internet.. It would almost bne more interesting if they started asking you about your friends by their goofy ass internet handles
Bingo... just muddy the water and make the data less reliable

That's really all you can do.

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post #13 of 15 (permalink) Old 06-05-2009, 12:59 PM
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Bingo... just muddy the water and make the data less reliable

That's really all you can do.

So you an d IamnotGregg are going to hack into your companies website and list Barrack Obama and Al Gore as co-workers?

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post #14 of 15 (permalink) Old 06-05-2009, 01:02 PM
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This is how I got so good an interwebz stalking. Creepy, yes. Necessary, yes. There is a more graceful way of presenting you with that info but it takes longer and doesn't always yield the best results.

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post #15 of 15 (permalink) Old 06-05-2009, 01:09 PM
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Quote:
Originally Posted by Meulen View Post
So you an d IamnotGregg are going to hack into your companies website and list Barrack Obama and Al Gore as co-workers?
15 years of filling out customer info lists with cross pollinated misinformation goes a long way.

Everyone Exaggerates

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