A sad but true Story of mis-selling to a client of mine!
He got an inflow of 68 lakhs, Bank RM says sir FD beating returns in this debt fund, he says redeem in 3 months
Now this idiot who sold my client forgot to mention -
Its a equity fund
it has exit load
He got an inflow of 68 lakhs, Bank RM says sir FD beating returns in this debt fund, he says redeem in 3 months
Now this idiot who sold my client forgot to mention -
Its a equity fund
it has exit load
it is a fund of funds, meaning investing in mutual funds
saw track record of mutual funds, nothing great
saw underlying stocks, nothing great
some are rated 2 out of 5, going by recent developments that 2 is also fake!
That person has lost 7 lakhs on 34 lakhs as of Friday!
saw track record of mutual funds, nothing great
saw underlying stocks, nothing great
some are rated 2 out of 5, going by recent developments that 2 is also fake!
That person has lost 7 lakhs on 34 lakhs as of Friday!
What angers me the most is he is not literate in stock markets at all!
That RM will run away but my client's loss will be permanent na. This experience he will extrapolate to every intermediary in the financial field!
Mis-selling is a white collar crime! This has to stop!
That RM will run away but my client's loss will be permanent na. This experience he will extrapolate to every intermediary in the financial field!
Mis-selling is a white collar crime! This has to stop!
