Mis-Selling of Financial Products is getting rampant and Investors are being cheated of money and financial securities. Mis-Selling is the Gift of Globalization, Entry of Financial Players and their heavy expansion plans AND whooping growth of Sensex.
Financial products are pretty complex to understand and today distributors are taking benefit of that. You won’t believe but 1 out of 4 financial products being sold in this country is MIS SOLD. 80% of the Insurance policies sold in past two years have been UNIT LINKED INSURANCE PLANS. Up to 40% (and in some cases up to 60%) of First Year Premium goes into the pocket of Insurance Agents and you have been shown front end charges of only 5-6%. One of the prime factor for Mis-Selling is also intentional unethical ways followed by few investors to avoid tax trap and convert unaudited money into legitimate money. This gives green signal to distributors to suggest higher commission products.
Nationwide poll conducted by Bombay Times – TNS amongst 20-30 age groups revealed that 27% are ready to take unethical shortcuts to achieve their dreams. If you have given your hard earned money to a relationship manager who is at the age of 25-27 years, without taking second opinion or without doing enough research, you may be the next victim of MIS-SELLING.
Do you want to compromise your family’s future financial wellbeing just so that the agent can make a few bucks?
Please click below link to know more about MIS-SELLING – the EMERGING EVIL OF FINANCIAL SERVICES.
http://www.slideshare.net/mandalia.kaushal/misselling-the-rising-evil-in-financial-services-presentation
This is my humble approach to spread awareness.
Please feel free to write your comments / suggestions / queries on Kaushal@thefinancialplanners.in. also feel free to write us in case of any guidence / help required.
Warm Regards
Kaushal
Financial products are pretty complex to understand and today distributors are taking benefit of that. You won’t believe but 1 out of 4 financial products being sold in this country is MIS SOLD. 80% of the Insurance policies sold in past two years have been UNIT LINKED INSURANCE PLANS. Up to 40% (and in some cases up to 60%) of First Year Premium goes into the pocket of Insurance Agents and you have been shown front end charges of only 5-6%. One of the prime factor for Mis-Selling is also intentional unethical ways followed by few investors to avoid tax trap and convert unaudited money into legitimate money. This gives green signal to distributors to suggest higher commission products.
Nationwide poll conducted by Bombay Times – TNS amongst 20-30 age groups revealed that 27% are ready to take unethical shortcuts to achieve their dreams. If you have given your hard earned money to a relationship manager who is at the age of 25-27 years, without taking second opinion or without doing enough research, you may be the next victim of MIS-SELLING.
Do you want to compromise your family’s future financial wellbeing just so that the agent can make a few bucks?
Please click below link to know more about MIS-SELLING – the EMERGING EVIL OF FINANCIAL SERVICES.
http://www.slideshare.net/mandalia.kaushal/misselling-the-rising-evil-in-financial-services-presentation
This is my humble approach to spread awareness.
Please feel free to write your comments / suggestions / queries on Kaushal@thefinancialplanners.in. also feel free to write us in case of any guidence / help required.
Warm Regards
Kaushal
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