- Report: #5822
Report - Rebuttal - Arbitrate
Complaint Review: Primerica
Primerica, Nationwide ,GA, Canada U.S.A.
Primerica, Company VP not experienced in investments *REBUTTAL *EDitor's Comments
*0: Look to the left and see the obvious scam here....they want you to send them money to keep this site going!!! I have sites myself and it doesn't cost but $25 a year!!!! *EDitors Comments .. sure thing, $25 a month!
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Being a registered stock broker in a banking environment for 12 years, I knew something was wrong with this request. I spoke longer with the customer, his girl friend, the Primerica rep himself. He didn't know that stocks take 3 days to turn in to cash. This is investing 101.
He was advising the customer to sell stock that had no cost basis and may mean a significant tax inplication and yet didn't advise the customer to check with his tax-advisor.
I couldn't understand why he was advising the customer to sell the stock and get a check. In our industry, we transfer entire accounts, sell the stock, if needed and we get the commission. This guy was allowing me to take the stock commission. We finally decided he didn't have the more advance license that would allow him to advise or sell individual stocks.
I advised the customer that this person had not been in the financial services industry for long and probably didn't have the experience needed to advise him on investment his life savings.
I'll keep an eye on Primerica, my customers deserve better.
This report was posted on Ripoff Report on 07/20/2001 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica/Nationwide-GA-Canada/Primerica-Company-VP-not-experienced-in-investments-REBUTTAL-EDitors-Comments-5822. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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