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State Of Families Now And Who Have Been Criminally Prosecuted

Ally6770Ally6770937 posts since
Jan 16, 2010
Rep Points: 2,727
1. Saturday, September 14, 2013 - 8:14 AM
The biggest joke of all is that most banks, mine especially, has a big photo on the wall as you enter the door of their latest "Financial Advisor".  You know, the person who is there to sell you all of these great financial instruments since CD rates are so low.  What a joke!  The last place I would want to get advice from is someone involved with my bank! 
3
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
2. Saturday, September 14, 2013 - 8:50 AM
I can tell you that when I worked in a bank many of those "Financial Advisors" were only salesmen on commissions. At that time they could make $7,000 and more selling an annuity. These people should not be allowed in bank and credit union offices.  I reported several of them not only where I worked but others that worked in the small town I lived that sold annuities or tried to sell annuities to people with their IRA money, and for other senior citizens who had no business being in an annuity. One even tried to sell one to a mentally challenged person. These were not immediate annuities. Many of the banks and credit unions actually paid the customer service people $25 to $50 if they referred a customer to these "financial advisors". 
3
Ally6770Ally6770937 posts since
Jan 16, 2010
Rep Points: 2,727
3. Saturday, September 14, 2013 - 9:13 AM
Do you know what else they do that I threw a fit about?  The banks actually let these financial advisors look at the accounts of their customers to see their finances so they will know which ones may have more money to invest.  That is how they found me but I threw such a fit and insisted that only a bank employee who "had" to access my finances be allowed to look at our accounts.  I refused access to our accounts by these so called "financial advisors".   By being allowed access to the customer's accounts, these "advisors" can even tell the age of the customer who  might be the better one to accept their products.  After all they are only there to help "us" make more money not to enrich theirselves.  Unless they are employed by the bank, legally I don't think they have a right to peruse the customer's accounts without the customer agreeing to this ahead of time.  The bank manager tried to make excuses for why they were allowed to look at our accounts but I made it clear they were to stay away from our accounts.  To date, I have not been approached again. 
4
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
4. Saturday, September 14, 2013 - 9:20 AM
You will want to "OPT OUT" of all the banks and credit unions with the papers they send you to make sure that other entities within the institution do not have access to your info. Some insurance companies also have investment companies within their parent company. 
4
Ally6770Ally6770937 posts since
Jan 16, 2010
Rep Points: 2,727
5. Saturday, September 14, 2013 - 10:06 AM
I thought I had "Opted Out" but the bank used the excuse that "all" bank employees who were working within the bank for any purpose had the right to access customer accounts.  I had them put a special tag on our accounts that only true bank employees who had to work on our specific accounts were allowed to access them.  The bank agreed to this since I made such a fuss over my privacy.  The Financial people also knew it was fruitless to access our accounts since I made it clear I wanted no part of them or their products. 
3
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
6. Saturday, September 14, 2013 - 2:53 PM
Opt outs are a little different now and you can also opt out of a bank or insurance companies subsidiaries. 
3
Ally6770Ally6770937 posts since
Jan 16, 2010
Rep Points: 2,727
7. Saturday, September 14, 2013 - 3:54 PM
Thanks Ally.  When I go back to the bank this week, I will check with them to see if I am opted out of everything.  If not, I will ask to do it.  Much appreciation.
2
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
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