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Report: #649654

Complaint Review: Navisis Financial - chicago Illinois

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  • Reported By: jimmy — wheaton Illinois United States of America
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  • Navisis Financial 200 e ohio st. chicago, Illinois United States of America

Navisis Financial Scam artists in the financial services industry chicago, Illinois

*UPDATE EX-employee responds: navisis financial is an outstanding firm

*UPDATE Employee: Response - Navisis Financial

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Navisis Financial is a bunch of scam artists. If you are considering either working for the company or doing business with them don't they are out to rip you off!! As a former employee I saw it all first hand what they do to as an employee is really bad. When I started they said nothing about an employment contract until it's time to get paid upon receipt of your first check which will be below minimum wage they make you sign a contract stating that unless you work there for at least 2 years when/if you quit you will have to pay them back all of your wages while you working as well as % of the money you would of made up until the 2 yr mark.

On top of that they make you do very deceptive things to get "leads" from the business you call. Another thing about this contract is that at any time they have the right to alter your pay up to and including not paying you at all which did happen. From the customer side they use technical analysis to churn the clients investments, immediately sell them out of all their positions (stocks, bonds, mf, annuities) and put them into what the system says they should be in and constantly move them in and out of products all the while earning 2-4% in and out of each trade. If you have come across this it is probably b/c you were scouted by them for employment or to manage you acct. But stay away at all costs you will loose!!!!!!

This report was posted on Ripoff Report on 10/11/2010 11:34 AM and is a permanent record located here: https://www.ripoffreport.com/reports/navisis-financial/chicago-illinois-/navisis-financial-scam-artists-in-the-financial-services-industry-chicago-illinois-649654. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
2Consumer
0Employee/Owner

#2 UPDATE EX-employee responds

navisis financial is an outstanding firm

AUTHOR: michael cockriel - ()

POSTED: Wednesday, March 12, 2014

My name is michael p cockriel and afteri read these false account about my former employer not only are the things said in this site false, they are just striaght angry lies. Navisis finacial is not only filled with brilliant broker like the ceo jack or kevin keane they also strive for succes. They are not scam artists they are brilliant market technicians.As far as there pay goes they follow the same guide lines and xontract standards as any other firm in the bussiness. They do not churn acount which by the way is illegal. They use a stredgy that is succesfull and they do not go around and sell everything in peoples ports. I can tell first hand there customer service is five star and they are there to help you plan for your future navisis finacial is a fantastic firm and  with no hesitation gladly return to navisis finacial to be apart of the best team in the bussiness.

Sincerly, michael p Cockriel

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#1 UPDATE Employee

Response - Navisis Financial

AUTHOR: NavisisFinancial - (United States of America)

POSTED: Wednesday, February 29, 2012




First, all individuals, whether employees or independent

contractors of Navisis, are required to sign agreements with Navisis that

contain strict confidentiality provisions. 

Obviously, these agreements are necessary not only to protect our

clients sensitive account information and personal asset information, but also

to comply with privacy, SEC and FINRA regulations.  Thus, although Jimmy does not like the

terms of his employment contract, these contracts are critical to protect

Navisis customers.



Second, it appears that Jimmy also disagrees with his pay

structure.  Navisis Financials pay

structure is also confidential.  However,

it can be said generally that pay is dependent on performance.  This type of pay structure is very standard

throughout the investment industry.  If

Jimmy was unhappy with his pay structure, then the fault lies with Jimmy, not

Navisis.  There are many employees of

Navisis governed by the same type of pay structure that have proven to be

extremely successful.



Finally, Navisis complies with all SEC and FINRA regulations

with respect to its communications with prospective and current customers.  It is unclear what Jimmy means by deceptive

things as Jimmy is not specific nor is he articulate on this issue.   Jimmys accusation of churning is not only

unsubstantiated but is also completely false. 

Navisis does not promote nor does it allow any of its associates to

churn a clients investment accounts. 

This is strictly monitored by National Securities Corporation, its

broker dealer, and by FINRA.  Thus, it

appears that Jimmy does not understand the industry standards, the regulations

governing brokers, or the checks and balances in place to protect customers and

their investment accounts.  This may have

been one of the reasons Jimmy was not successful at Navisis.



Respectfully,



Executive Management



Navisis Financial



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