Beware If You Are Asked By Your Bank To Attend A Financial Review

Dan29

smudge2006 wrote:

Yeah I know loads that would do or say anything for a sale.

What sort of commission would people get for selling a product?

Is this an area where claims of misselling could cause problems for the 'advisors' later?

Mark7799

Geoffo_M wrote:

Tom - bit off topic I know but I've been trying to remember which show your sign-off comment came from. "That's me that is". I think it was Rob Newman, but I can't think who was with him - very funny comedy sketch show

Rob Newman and David Baddiel (when they worked together). Part of their sketch show consisted of dressing up as two Oxbridge dons discussing history and the sketch culminated in their throwing verbal abuse at each other. A gem.

Sponge

I had a review today and they could do nothing for me. In fact, I felt a little embarrassed for the guy. It was a last minute appointment, so he had very little time to investigate my account, so he seemed to be winging it. He checked the figures to see if it was worth paying a monthly fee to reduce the APR on my overdraft - but it wasn't. I already knew this, but thought I'd see how he handled it. He half-heartedly mentioned the benefits of their premium accounts, but none of them are any good for us - again, something I already knew. So we left no better, but no worse off, for the experience.

My last review didn't get them any new business either. In fact, to their credit, they actually advised I downgrade my account as it wasn't worth paying the fees. This is something the advisor that I saw today should have known if he'd looked at my account prior to our meeting.

I like my bank. They've always been helpful and never tried to con me. However, I mentioned I was thinking of closing my account and moving to the A&L as they have 0% on o/d for 12 months and 5.9% APR thereafter, in the hope he could offer me an incentive to stay. He was a little shocked at the A&L deal (he'd not heard of it), but made no attempt to talk me out of switching. I got the impression if the shoe was on the other foot, he'd switch himself!