Why do financial advisers want to meet up?
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So recently, an ex-colleague of mine left the company to join an insurance company. He contacted me and my teammates to have a meetup with him.
I told him that I am already engaging my friend for FA services for awhile now.
However, he still insisted on meeting up. I am genuinely curious why!
Here are what netizens think
- Because it’s generally harder to reject face to face. If you’re not interested don’t waste time.
- Its a sales tactic, if he meets you in person:
1. Can make you paiseh which makes it harder for you to refuse eg. He considers you a good friend and hope you can support him blah blah.. Might bring in sob story of no deals or earnings for added effect.
2. Battle of wills – see who caves in 1st.
3. Even if he is buying the lunch or drinks, see point 1.
4. Even if you say you are not interested, he will try to ask you to tell him all your current/existing policies. He will say let him “analyse & assess” for you to make sure you are well covered. Indirectly hinting your existing FA might have conned you. – pls don’t do it.
5. May even ask you to sign something or login via singpass to give him access to your info on other policies or CPF contributions and balances etc.
6. Will probably say those policies he’s selling is better and more up to date than yours and that you should reconsider and update, best of course to buy from him la.
7. Will probably immediately push ILPs or fixed deposits with insurance instead of life policies as they earn more from these.
8. Strangely, whenever you ask for brochures or info sheets to bring back to read and consider, almost always won’t give with lots of excuses. You always end up with their handwritten scribblings.
If you really are not interested, just don’t meet him. Don’t waste your time or his time. Another way is to ask him to call you back 3 to 6 mths later and see if you are reconsidering then.