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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Blood Sucking Advisors

Blood Sucking Advisors

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1Blood Sucking Advisors Empty Blood Sucking Advisors Sun Jul 07, 2013 7:11 am

dudi


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
by reading some comments made by the members of this forum one thing I as a new comer realised is that the so called advisors hired by the broker firms are real blood suckers.they are not concerned about your money.they bully you and take you for a ride merely for their personal gains.at the end of the day you loose your hard earned money.is this moral?what can you do about it legal wise? senior members pls explain

2Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 7:33 am

illuminati


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
There are many in this forum who could be legally held accountable for market manipulation. Many lost their money never to return to the market. This includes some present guys who are in sheeps clothing. Legal aspects should be explored to prevent such promotions in a public forum.

3Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 7:53 am

K.Haputantri

K.Haputantri
Co-Admin
The law requires that the investment advisors appointed by brokers should be qualified persons. Hence, we can check their qualifications before we deal with them in the first place.

In addition, the law requires that they appoint a Compliance Officer who should over see the work of their investment advisors. Hence, we can forward any complaints to him & seek redress. I have done this many times & it was effective.

If the Compliance Officer does not resolve your problem you can forward your complaint to the CSE and also to SEC. This can be done electronically using the facilities in their web sites.

4Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 8:06 am

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@illuminati wrote:There are many in this forum who could be legally held accountable for market manipulation. Many lost their money never to return to the market. This includes some present guys who are in sheeps clothing. Legal aspects should be explored to prevent such promotions in a public forum.

Could you please tell us who are the members still existing in this forum - legally held accountable for market manipulation? As a human being we moderators might miss his / her /their action in the past. As a respected member for the last 20 months may be you can help us.

If you can't disclose in public you can send the names by PM to Admin or Moderators. Hope betterment of the public forum you will help us to eradicate those so called members from our forum.

5Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 8:59 pm

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Stock market doesn't forgive anybody. There is no sympathy or mercy. You cannot blame others for loosing or making money. If you do not know how to deal in stock market it is better to stay away from it.

Investment advisers make money whether you sell or buy. Good or bad stocks they make their money. It is upto you to decide whether to accept their advice. I for once never give them the option to deal with my money.

Educate your self with regard to stock market. It is the key. After all it is your money. I am not a veteran rather a rookie and this kind of advice has been provided right throughout this forum in the past.


6Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 9:21 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@dudi wrote:by reading some comments made by the members of this forum one thing I as a new comer realised is that the so called advisors hired by the broker firms are real blood suckers.they are not concerned about your money.they bully you and take you for a ride merely for their personal gains.at the end of the day you loose your hard earned money.is this moral?what can you do about it legal wise? senior members pls explain  

As Hapu mentioned, one needs to check the advisers track record before he or she gets advises from that person.. May be u have ppl who takes advises from the same adviser, so it may not be difficult..

7Blood Sucking Advisors Empty Re: Blood Sucking Advisors Sun Jul 07, 2013 9:23 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@illuminati wrote:There are many in this forum who could be legally held accountable for market manipulation. Many lost their money never to return to the market. This includes some present guys who are in sheeps clothing. Legal aspects should be explored to prevent such promotions in a public forum.

You can start doing us a favour by naming the ppl in this forum who try manipulating the market.. Keep in mind that this is a small crowd of investors, so the magnitude a market manipulation could be enforced is negligible in % wise. But if could provide us examples, it wuld really be helpful us to understand the severity and mitigate such risks.. If ur not comfortable enuf in disclosing such in public, pm Admins or mods.

On the other hand, if you cannot bring up the evidence to prove the aforesaid and its just came in to your mind, pls refrain from openly accusing ppl..

Many a ppl now-a-days come to this forum just to point fingers at others. Just decorating one's words with stylish words is not enuf, one should have evidence when accusing. If not everyone who tries will have to be taken as grown ups with kindergarten brains.

Thanks.

8Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 1:31 am

jonny

jonny
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
In USA and UK you need to have license to advice on investment or Finance. It's illegal to advice people for investments without a proper qualification and years of experience as investment or Financial adviser .If an investment adviser gives false advice and the investor lose the investor lose his money he can sue the adviser and the adviser will lose his licences and he will be black listed.So how come in SRI LANKA allow small brats to give investment advice to investors.That means they do not care our hard earned money..??

9Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 1:34 am

jonny

jonny
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Must bring a penalty code in to action if broker gives false advice and investor lose to charge back 50% of the lose from the broker....!!

10Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 10:14 am

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@jonny wrote:In USA and UK you need to have license to advice on investment or Finance. It's illegal to advice people for investments without a proper qualification and years of experience  as investment or Financial adviser .If an investment adviser gives false advice and the investor lose the investor lose his money he can sue the adviser and the adviser will lose his licences and he will be black listed.So how come in SRI LANKA allow small brats to give investment advice to investors.That means they do not care our hard earned money..??  

In USA and UK a public/private body is answerable to the people. This includes the President and the prime minister and the entire parliament and governing body. That is why they consider themselves civilized. That is why they bring human rights violation against countries like us, which are considered not civilized.

But, in Sri lanka it doesn't happen. I was reading a paper article regarding the toilet door incident, the parents have threatened the Royal College principal for taking disciplinary action against their son when he was schooling on several incidents. One related to breaking into the record room and destroying this own records.

This is a very sad state specially for a developing country like us. oh...by the way we are a developing country from 1948.....Evil or Very Mad 
The main reason is that we do not have a strong opposition party so the ruling party does what they please.

You cannot take action against brokers if you loose money. These advisers are school leavers with low salaries and they get their commission. One of the leading stock broker firm has first year university students as financial advisers, and their names are in contact list and they handle clients. I was one of those clients.

11Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 10:58 am

K.Haputantri

K.Haputantri
Co-Admin
Illuminati, we are yet to hear from you of the market manupulators in our forum. If you do not come out with such members openly we have no option but treat your comment as gossip. I appreciate if you do us a favour by naming such offenders openly or by PM. Thanks.

12Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 11:27 am

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
@hawklk wrote:. You cannot blame others for loosing or making money. If you do not know how to deal in stock market it is better to stay away from it.


Educate your self with regard to stock market. It is the key.



Can't agree more. If u lose money due to bad advice there is only one person u can blame and that is u. Brokers are glorified bookies. They don't care if u make money as long as u trade. that is why I question those that give discretionary powers to their broker to trade for them. There is conflict of interest between the needs of the brokers and needs of the clients. So naturally to make money for himself the broker will trade, and trade and trade. While you make no money, he make money on every trade he does.

The CSBA made some noise about introducing a code of conduct for brokers, what happened to that????? Evil or Very Mad Even if they implemented it what would have been the consequences for violating it?????

Ps. before anyone says anything. Not all brokers are like this

13Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 9:22 pm

sandunj


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Dont trust brokers or advisors. Best advisor for you, is yourself and it will be count with your experience. Be sensitive about SL and global economic condition. However even a expert can go wrong in some time.

14Blood Sucking Advisors Empty Re: Blood Sucking Advisors Mon Jul 08, 2013 10:07 pm

taniya1111


Manager - Equity Analytics
Manager - Equity Analytics
If you want to deal in the stock market you have to be in the system for sometimes. It is very difficult to learn without involving the stock market, so you have to invest affordable amount in the market and learn. You may loose money but that's bitter truth in the share market. Following advisers with out knowing what is happening there is useless rather than learning share market by investing affordable amount.

15Blood Sucking Advisors Empty Re: Blood Sucking Advisors Tue Jul 09, 2013 9:11 am

janakatk

janakatk
Senior Equity Analytic
Senior Equity Analytic
Ya, one of my friend is going to file a case against one broker for their agreement condition with is not fair......

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