Complaint Review: Generali - Hong Kong, International Select State/Province
- Generali Hong Kong, International, Select State/Province United States of America
- Phone:
- Web: http://www.generali-gi.com/
- Category: Investment Brokers
Generali Generali pay ALL commission to IFAs upfront: BEWARE Hong Kong, China
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
I had a very unpleasant and costly experience with De Vere
Group Financial Planners which was made possible and all the worse by the
Generali Bond that they missold to me.
What was NOT made clear to me by Generali or De Veres is
that ALL commission on the bond is payable upfront to the advisor selling you
the product which means that I am now locked into a very expensive and
unsuitable product.
This goes a long way to explaining why I never heard from
the De Vere group again after signing despite promises of regular updates and
meetings.
For an unscrupulous company like De Vere this type of
product is a God send.
This means that if you wish to transfer the management of
the product to any other financial advisor as I did when De Vere left me high
and dry they will have to charge you for managing it. It also means that if you
wish to exit early the fees are astronomical as ALL commission that was paid
upfront to your IFA is included in the exit fee..ironic really!!!!
Generali products are expensive anyway. Their fees are way
in excess of other comparable products available through other companies and
when asked why they do this and how it served me, the client, I recieved no reply.
I can only assume that they, like De Veres just want your money without
providing service and this is a great incentive and temptation to unscrupulous
IFA like De Veres and it can only serve to encourage bad practice within the
field of IFA. When I told Generali about the misspelling of their product to me
and the lies told to me by De Vere regarding the fee structure they did nothing
and still do business with the De Vere Groupspeaks volumes!!!!
Incidentally, I know this story makes me sound very naive however I did ask
pertinent questions regarding the fee structure when considering the product as
in the literature it seemed excessive and expensive however I believed what De
Veres told me about how that worked which turned out to be a pack of lies. This
experience has cost me dearly and I would like to think that this will save
others from that experience where De Veres or Generali are concerned.
This report was posted on Ripoff Report on 06/18/2011 01:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/generali/hong-kong-international-select-stateprovince-/generali-generali-pay-all-commission-to-ifas-upfront-beware-hong-kong-china-742464. 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
If you would like to see more Rip-off Reports on this company/individual, search here:
Advertisers above have met our
strict standards for business conduct.