Cold calling financial advisers

Please note that when I say I've already got suitable advice that is your cue to apologise for disturbing me and to hang up rather than launching into your sales pitch.

I remember the cold calls from claim farmers about the car accidents that never happened, which thankfully seem to have stopped.  I gave them a load of false details once and eventually got passed through to a firm of solicitors.

Anyway the firm was dodgy as fvck - based in some really shit part of LDN above a kebab shop or something.    

I asked to speak to the complaints partner who was never there and I kept getting through to someone who said they were a solicitor but I couldn't find them on the Roll and when I raised this with they could offer no explanation.

I reported the firm to the SRA and expected to hear no more.  About 18 months later I got a letter thanking me for reporting - they had investigated and shut the firm down.  

I don't believe the SRA did that off the back of one complaint.  So there must of been lots of others.

 

I try not to be a dick to cold callers (not suggesting that you are). We are all just trying to make a living; there but for the grace of god, etc.

If they don't take the hint I'm not interested then I just hang up.

I'm normally amazed that there's any solicitor in a big firm who doesn't already have financial advice and who's going to sign up to a big company that randomly calls.

Do that many lawyers actually have financial advisers, rather than muddling along paying bills and getting the odd ISA here and there?

Most people I know have some kind of advice on pensions and the like once they get to the point of getting married and having kids.

A few certainly do, although they're always at partner level with considerable assets and the need for a full planning service. 

If you need an ISA and a bit of a pointer on good habits and don't have a lot of cash to invest, many Chartered financial planning firms will politely send you on your way because you will not cover their costs. 

I get amusing LinkedIn messages from people who don't quite understand that an NQ doesn't need an "experienced wealth manager" to manage his "portfolio". 

“cold calling financial advisors”

I quite like doing this, though they tend to get quite annoyed quite quickly

get amusing LinkedIn messages from people who don't quite understand that an NQ doesn't need an "experienced wealth manager" to manage his "portfolio". 

You say that but our NQ is absolutely loaded (family money) and owns a race horse stable, various London properties and other shizz. Dad is a senior Tory...

I looked at St James Place once. I think it was a 5% initial investment charge to put your money in ISAs and unit trusts and an ongoing charge of 2%. Absolutely wild stuff. 

Plus, they're restricted advisors (but they like to tell porkies and mislead into thinking they're independent), so they only put you in their investment funds as well—more cash in their pocket. 

I get contacted by them on LinkedIn quite a lot. Filed away in case I ever have any money.

So how are you Threepwood?  That's great.  Anyway the reason for my call, Threepwood, is that I'm currently arranging meetings with a number of your colleagues at... * checks notes * Mediocre Sweatshop LLP who I already work with in terms of their mortgages, investments, tax arrangements, eck cetera and I thought it would be a good time to ask you if you'd heard of St James Place at all, Threepwood?  You have?  That's great.  Well, Threepwood, I'd love to have a quick chat with you Threepwood about your portfolio and really focussing in terms of getting that income tax liability eck cetera down for you Threepwood.  Oh, you're poor, are you?  Well f*ck you very much then.

heh. read that entirely in Bob Mortimer train guy voice and it works perfectly. 

I remember the days when I could fob them off by simply telling them I had no money left at the end of the month and no savings.

I read that script in the voice of Leonardo DiCaprio in Wolf of Wall Street. 

Occasionally you can be lucky enough to get three different SJP calls the same day! I think their consultants all work independently (maybe they are all self-employed) so they don't co-ordinate.

There should be a special stamp if you can complete the holy trinity of getting headhunter, tailor and financial adviser cold calls all on the same day that entitles you to a free Starbucks or something.

I used to tell my university alumni fundraising office (truthfully) that i was broke but I did rather enjoy hearing from current undergrads in my old faculty what what they were doing

 

 

I used to tell my university alumni fundraising office (truthfully) that i was broke but I did rather enjoy hearing from current undergrads in my old faculty what what they were doing

 

 

Had a different financial advice consultancy email and cold call me about getting a good mortgage deal.

He introduced himself as a mortgage broker.

As I was in the process of buying a house at the time, I agreed to have a quick chat at a later date about mortgage deals re what his firm would be able to offer me in terms of rates

Three days later, he gives me a call as scheduled, and it becomes clear that he is reading off a script, and start trying to sell me other types of financial advisory services. I bring him back a couple of times to the mortgage point, and after a couple of back and forths he admits he’s not actually a mortgage broker.

Member it's a franchise so yes lots of individual entities under one umbrella who don't coordinate.

Re the op, it sounds like you are doing the cold calling