Report: #1054421

Complaint Review: senex wealth management/Brian tobias

  • Submitted: Tue, May 28, 2013
  • Updated: Sat, July 19, 2014
  • Reported By: wasfriend — toronto Ontario
  • senex wealth management/Brian tobias
    1183 finch ave
    toronto, Ontario

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

 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.



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Updates & Rebuttals


#1 UPDATE Employee

Senex Wealth accepts apology from author of this post

AUTHOR: Jessie Lee - ()

On behalf of Senex Wealth Management, its staff & management, we accpet Mr. Michael Schaumer's apology.  Such apology is registered with the Ontario Superior Court of Justice, in the city of Toronto, court file # CV-13-487137.

Mr. Schaumer has indicated to Senex Wealth Management that he is willing to retract any damaging statements in this Ripoff Report.  We wish him all the best in his future endeavor.

Ripoff Report is an anonymous online platform which adheres to Canadian Defamation Law and any violation of such, is not acceptable.  We appreciate the opportunity to clear Senex Wealth Management's as well as it's staff & officers' names.

Senex Wealth Management is a reputable company and is based on the highest principles of integrity.  The company is a dealer for the highest quality of Investment Grade Diamonds, Gold and Silver Bullion and in US Real Estate.

For enquiry, please contact Jessie L, at

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#2 Consumer Comment

My wonderful experience with Senex Wealth Management

AUTHOR: I buy - ()

Pal, my Dad was in Toronto on a business trip and he hooked up with these guys at Senex Wealth Management.  They're supposed to be well connected with diamonds. Sure enough, he got me a pink Argyle diamond at wholesale price and it's 1000% certified, with 2 certs, Argyle and GIA.  We brought this to the gemologist and he said it's an amazing stone worth at least twice as much.  Now I need to contemplate what to do with it.  Check them out.

Highly recommended.

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#3 REBUTTAL Individual responds

Fake Report

AUTHOR: Jessie Lee - ()

The poster is a former employee who has admitted wrongful behaviour.  Senex Wealth Management had A rating on BBB and many other review sites, all independent, not paid for.  Poster, please refrain from destroying others' lives.

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