ED Magedson – Founder
senex wealth management/Brian tobias1183 finch ave toronto, Ontario Canada
senex wealth management/Brian tobias coloured diamonds are over priced and false investments toronto Ontario Canada
Senex Wealth Mangement. is a company that started in 2012, their method of operation is to call folks and promised them an investment in coloured diamonds. they spin a story that they get thier diamonds directly from the mines and directly to the client. this is complete nonesense , simply because they buy their diamonds from a wholesaler from New York , and even these folks at Novell diamonds are not the diamond cutters either.
They tell the clients that these diamonds have traditionally increased 20/25% a year and double in four!!!! unfortunately they do not tell the client that when they mark up the stones 3 to 5 times or more. So even if these diamonds would go up 25% a year how long would it be for the client to double thier money, folks this is not going to happen. Coloured diamonds that go up 25% a year, are of the most rarest stones not the ones you buy for 5k to50k , from these folks.
The reality is that Senex wealth is run by an ex stock promoter that has Ontario Securities Rulings against him (Alex Elin) , absolutley no expirience in the diamond field till December 2012.
If you buy a stone from Senex Wealth have it checked out by a diamond wholesaler in your area, they will examine the stone AND CONFIRM THAT NOT ONLY YOU OVER PAYED BUT IN FACT YOU PAID RETAIL FOR AN "INVESTMENT". THEY TELL you THAT THEY CHARGE A 5 OR 10 % COMMISSION WHEN YOU BUY OR SELL YOUR DIAMOND THRU THEM. NOT TRUE , They pay the salesmans a hefty 20% commission on your sale.!!! try and sell it back to them and see what kind of stories you'll hear.
1. not the right time,
2. Your diamond has not gone up as much as we had hoped, you would have to take a hit if you sold.
3. Sure we can sell it for you , we will put it up for auction , we do this all time you can actually see your diamond on the diamond exchange network.( folks who in the investment field or the jewellery world would buy a diamond that you paid retaill for and give you a profit.!!
4. We suggest that if you want to sell that infact you can trade your stone for a much better stone that provides you with a larger return ( here is were they will get you, they will give you a paper profit on your first stone but than you will pay much more for the new stone again at a five time mark up plus the price of your original stone.)
Brian Tobias, Nicholle Elin and Alex Elin, have no experience in diamond trading buying or in investments in this field.
This report was posted on Ripoff Report on 05/28/2013 01:06 PM and is a permanent record located here: http://www.ripoffreport.com/reports/senex-wealth-managementbrian-tobias/toronto-ontario/senex-wealth-managementbrian-tobias-coloured-diamonds-are-over-priced-and-false-investme-1054421. 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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