Tuesday, November 4, 2014

The Great KYC Deception....a relationship not in your favour

Kenmar Associates                    Financial Literacy Month                                        November , 2014

Investment KYC Deception, investors deceived, "set-up" from the account opening..a relationship not in their favour

Here's our contribution for this year's Financial Literacy Month. How millions of investors, Canadian and American are deceived, and "set-up" from the very account opening into a relationship which might not be in their favour. Unlike industry participants and their lobbyists, we concentrate on Investor Protection via Streetproofing-making retail investors street savvy.

The KYC (Know You Client/Customer Application Form) is designed and completed in a manner to be used against your investment interests by salespeople and dealers, and used against you a second time if and when you complain against them.

It is one of your first acts when you visit investment sellers, and this video by seasoned investor advocate Larry Elford ,shows how the dealer is years and years ahead of your experience in the matter, and how they take advantage of this to set the stage…..for themselves. Not every broker/dealer does this of course, but the percentage is in the majority, so your odds of going through the process described in the video are quite high.Enjoy the Video.

Investment KYC Deception   Click here 

Keep in mind that even if you have the MOST TRUSTWORTHY man or woman on your side, the dealer who sponsors their sales license should be approached from a Caveat Emptor perspective.Until a Best interests regime is implemented , that's the safest approach.

Stay tuned for more Streetproofing educational materials.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.