• Report: #54862
Complaint Review:

RBC Dain Rauscher

  • Submitted: Mon, April 28, 2003
  • Updated: Mon, April 28, 2003

  • Reported By:St. Paul Minnesota
RBC Dain Rauscher
60 South Sixth Street Minneapolis, Minnesota U.S.A.

RBC Dain Rauscher ripoff, bad investment advice, lose money, slime-ball, money grubbing brokers Minneapolis Minnesota

REBUTTAL BOX™ | Respond to this Report! | Consumer Comment

What's this?
Corporate Advocacy Program

Show customers why they should trust your business over your competitors...

What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

Set the record straight:
Arbitration Program

SEO Reputation Management at its best!

RBC Dain Rauscher is the home of bad investment advice. They have done nothing but LOSE MONEY for their clients while extracting high fees for themselves. I would know, I used to work there.

Working there, all you ever heard was, "how much money will I make if I sell this to my client?" It is all about selling investments to gullible people to make a huge commission. Most people don't realize just how much money a broker and the firm makes when an investment is sold to an unsuspecting client. Depending on how a transaction is done, a $100,000 investment in a mutual fund can result in a $4000 commission to the rep and the firm! This amount of money is a powerful incentive to act against a client's best interests. And trust me, it happens every day.

There are many ways a broker can increase his income by selling you certain investments. Remember, in the end, it is the client that pays all the high fees. A 4.25% front-end load on a mutual fund means a 4% commission for the firm. I've seen a lot of people lose a lot of money due to this company's bad investment advice. I've seen many clients lose close to half their life savings! And I've also seen this company engage in behavior solely to generate high commissions. Working there, I heard a number of rumors as well about the company having to talk clients out of surrendering their investments because it would have led to huge commission chargebacks from outside investment managers.


St. Paul, Minnesota

This report was posted on Ripoff Report on 04/28/2003 07:41 PM and is a permanent record located here: http://www.ripoffreport.com/reports/rbc-dain-rauscher/minneapolis-minnesota/rbc-dain-rauscher-ripoff-bad-investment-advice-lose-money-slime-ball-money-grubbing-br-54862. 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

Click Here to read other Ripoff Reports on RBC Dain Rauscher

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?