If I were you I'd do A LOT of due diligence on whoever I was possibly thinking of doing business with and especially the company you mentioned.
Pay special attention to how fees are charged and how flexible or inflexible products their products are..........
Pay special attention to how fees are charged and how flexible or inflexible products their products are..........
Thanks for your input. The company seems kosher, a respected financial broker. So far its rep has been a model of transparency. But how does one best go about performing due diligence?
arabianights
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personally I like to take the advice of strangers on the internet
any practical advice for a greenhorn then?:|
arabianights
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I don't even know their name due to the censoring, not that I'd be of much use anyway!
Basically though, I'd stay away by default unless I knew otherwise
Basically though, I'd stay away by default unless I knew otherwise
And who's telling you they're 'respected'. Independent people or the company's own website?
And as for the rep- being a model of transparency, this may be the case but what is he trying to sell you and is that product 'transparent' or is it complex?
In the money management business it's never the headline features you want to be wary about, it's always what's hidden in the small print especially when it comes to flexibility.
Plus, do you know what sort of commissions are norm in the financial markets? if not then how can you know if anything is fairly priced or not. An extra 1% here or 2% there can wreak major havoc on investments although it never seems like much.
Also, who is speaking to you? Do they really have a good understanding of what they're selling or are they nothing but salesmen? How about testing them on economics or global markets, maybe even balance sheets and the like. If they struggle to give you proper answers then draw your own conclusions.
Yes, if you got through life never trusting anyone when it comes to money and investments you won't go far wrong.
Thanks for your thoughts. I'm prudently cautious, that's all. There are several thousand products on offer, so I should be able to find something I like, and I ALWAYS look before I leap. The company has branches worldwide, is mentioned on reliable financial forums and independent websites as a respectable player. Our contact was previously an investment banker and clearly knows his business.
