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The Unofficial American Express and Ameriprise Financial Advisors Consumer Opinion Web Site Message Boards › The Unofficial Ameriprise Financial Advisors Consumer Opinion Message Board › Financial Message Board - Ameriprise and RiverSource › Help me. Coworker has won the fishbowl prize

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Help me. Coworker has won the fishbowl prize (Read 4722 times)

bullpup12564

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Help me. Coworker has won the fishbowl prize
Dec 13^th, 2005, 5:36pm

Please help I have not been on this board for a long time. A coworker of mine thinks he is a winner for a free group lunch at Applebees. Anyway he got about ten people going to lunch with an aefa guy this week since nobody has the heart to tell him everyone wins. I know the scam since I have previously got my plan fee back and reported my advisor to the AG, SEC and NASD. I think I might go just to ask hard questions to the advisor but lunch is Thursday. Any good questions I should ask in front of the group to expose this Ponzi scheme to everyone.

ps. We were asked not to spend more then 12 bucks a person and no alcoholic drinks allowed as part of this free lunch. Nice way to smooze people who make 100k/year.

macca Anti-Ameriprise Offline Friends don't let friends use Ameriprise! Posts: 4685 Summer-Rockies, Winter-beach	Re: Help me. Coworker has won the fishbowl prize Reply #1 - Dec 13^th, 2005, 8:11pm Easy. Simply print out copies of this morningstar article: http://news.morningstar.com/doc/article/0,1,150861,00.html?_QSBPA=Y Give it to everyone, including the salesman. Ask him to explain the article to everyone. Sit back and order dessert.
Back to top	BLUEBOX SAYS: "MACCA IS RIGHT ABOUT A LOT OF THINGS!!"&&

heyheyhey

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Re: Help me. Coworker has won the fishbowl prize
Reply #2 - Dec 13^th, 2005, 8:14pm

Ask directly about the fee. Ask what the advisor's average fee is. Better yet, tell them that you paid $xx.xx last year, and does the advisor charge more, less, or about the same. Talk about fees bring the L&L to a halt like turning out the lights on a classroom full of rowdy 1st graders. Most peole are there for free food, and then BAM! all of the sudden there's a conversation about hundreds of dollars in fees. In my experience, most people either refuse to give phone #'s after that, or give work #'s they are never at.

macca

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Re: Help me. Coworker has won the fishbowl prize
Reply #3 - Dec 13^th, 2005, 8:27pm

When talking about fees, make sure to ask him if you pay by check for all the fees and commissions. When you find out that it comes right out of your investment account, gasp! Ask how you will ever know about all the fees you paid and what they add up to. Ask about 12b-1 fees, loads, costs for fund turnover, ask what soft dollars are and how they impact clients.

Another good question, ask about fiduciary responsibility to act in your best interests. Tell him you understand that advisers who sell investments or insurance products DO NOT have a fiduciary responsibility to act in your best interests. Instead, they are free to act in THEIR best interests just as long as they tell you about it in advance (in tiny print).

BLUEBOX SAYS: "MACCA IS RIGHT ABOUT A LOT OF THINGS!!"&&

bullpup12564 Amexsux New User Offline Found this site by mistake, have read evey post Posts: 27 usa	Re: Help me. Coworker has won the fishbowl prize Reply #4 - Dec 13^th, 2005, 9:08pm I think I would also like to hand my coworkers a copy of the PMM before they go that way we can all read along with him. Does anyone have a link to it? I will post back after the lunch
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mhamerin Amexsux Full Member Offline Member of Amexsux.com Posts: 172	Re: Help me. Coworker has won the fishbowl prize Reply #5 - Dec 13^th, 2005, 11:47pm Don't forget to ask him about his commissions on Annuities and other Insurance products such as life and income protection insurance. Ask him how long he gets these commissions on annuities and other insurance products he may sell. How much EACH year for the rest of YOUR life.
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Webmaster Amexsux Webmaster Offline American Express and Ameriprise Consumer Opinion Posts: 626 YaBB Admin Land	Re: Help me. Coworker has won the fishbowl prize Reply #6 - Dec 14^th, 2005, 8:21am Someone upload a copy of the PMM script to the following web site. http://www.angelfire.com/nm2/amexcases/
Back to top	Find out why American Express and Ameriprise sucks! Visit http://www.amexsux.com for American Express. Visit http://www.ameriprisesuck.com for Ameriprise Financial Advisors.

lexus Anti-Ameriprise Offline Member of Amexsux.com Posts: 781	Re: Help me. Coworker has won the fishbowl prize Reply #7 - Dec 27^th, 2005, 10:15pm Print out the NH suit, the SEC suits, the NASD suits, the WSJ article and ask him/her what are all these suits about. This should warm them up nicely.
Back to top	Friends don't let friends use Ameriprise!&&&&AMP4Life read the prospectus before you meet with clients for their sake. Doubt you really care.

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