Citisolutions

djdarren

Sure but you need to pay £140 admin fee.

Surely If I would be earning that much money you can deduct it from the money I make or if your firm is earning that much money I am sure you can afford £140.

Yes as you can see they do make money !! but from families in debts!!

I went to a team meeting and have not joined but am considering...as I understand it the £140 goes to the FSA for sitting the exam. £140 is not charged to the families in debt. The advice which I have seen is free of charge and very thorough. The money is made by offering linked life cover often cheaper than existing cover in place.

dunstonh

The money is made by offering linked life cover often cheaper than existing cover in place.

So, they specialise in churning?

NuclearReactor

The money is made by offering linked life cover often cheaper than existing cover in place.

Do you really think that there is Big market for Life insurance, even so, do you think you can make good profits out of it and forget about all the competitors.


Well good luck!!!

Willman_Rodders

This thread is ageing but today I have been approached to work as a partner with Citisolutions. The costs are still the same, and the product range appears to be the same as mentioned in earlier threads.
As a will writer I receive most of my business from professional introducers (IFAs, Mortgage brokers, accountants). Citisolutions sales approach on this occassion is saying that for those clients of mine who come from say Yellow Pages I should approach them offering Citisolutions products; they recognise that those clients from the professional introducers are off limits to their products. Not sure if this is a new sales strategy by Citisolutions - but I have not been approached before. Also, not sure if this is a national or individual sales marketing campaign.

I do frequently spot financial sales opportunities when talking to my clients, but those are then referrals back to my introducers for them to deal with. They scratch my back; I scratch theirs - as it were.

Thank you to previous contributors. Your information was most helpful in confirming my initial thoughts on how I was to handle this recent approach.

elliebean_2

I'm part of a will writing partnership and we too have been recently approached by Citisolutions. I'd be interested to know whether anybody here has taken up this 'opportunity' with them before we rule it out?

dunstonh

If you dont mind seeing people who have been put through an intensive sales process with limited morals. Getting clients from referrals from them isnt a problem but if I was you I wouldnt return the favour.

Crusher

So far the announcement has only been made internally last week Friday 11/05, but they have decided to pay off (some of there) existing associates and pull out of the UK market completely. There website has been removed - only shows address for contact.

One of the reasons is that they got hurt badly by too many reps pushing their products on friends and family, who than cancelled, but too many associates disappeared so no clawback was impossible and the companies was losing money badly... roughly 30% of sold policies kept on the books, which is an appaling number! Basically they could control the quality of sales (not surprising considering practically everyone could sign up when they had paid their £140)

It is unsure what will happen with existing clients with life policies and investments with the company. Assuming, as they were placed with 3rd parties, they have nothing too worry about as such.

dunstonh

Excellent news. A bad apple bites the dust.

dunstonh

tomatt44 wrote: »

I work for AIG and we have a huge salesfirce around Staffordshire- join us instead! Give me a call if you would rather introduce to a reputable company.

Tom 07779 265247

Salesforces, the root of all financial service problems.

Well, at least the FSA proposals will put many of them in their place if they follow through with the RDR.

koexelek

Someone today told me about a company called Genistar Ltd. They have just joined, and were raving about it.
I was asked if I would be interested in attending a meeting.

I decided to do a bit of detective work, and it looks the same as this Citisolutions company. Appears that the CEO of Citisolutions is also involved in Genistar ( chap called Jerry Leztz, who appears to be a very successful businessman).

I'm a mortgage broker/ifa, so am qualified to give advice myself, so not something that I would be interested in, but does anyome else know anything about it ?