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Real Estate Industry

October 16th 2007

FAKE FINANCIAL ADVISORS

It's a common con trick.


Regarding your article on The INSIGHT GROUP...

I invited this mob of shysters into my home thinking they were a financial advisors group.

I picked up that something was wrong when they said I would be driven to some properties. I thought, "Hey, that's what real estate agents do."

They wanted me to sign up for this $200 evaluation where you spend time at their office. [This is where they say they will go through finances and come up with a plan].

I looked briefly at their form and saw the spot for credit card details. I told them I would ring them and make an appointment.

They insisted I sign now even if I have to change my appointment. I refused. The discussion kept going around this point for a further 45 mins.

I started to get upset. They continued on and on laying guilt trips about my financial future.

I said firmly that I was not signing and if they kept pushing me, I may do nothing at all.

One of the them was a trainee. They seemed both so determined to walk out with my signature even after I asked them to leave several times.

They persisted for another 40 minutes or so. I had been told they would be coming for 45 mins to an hour and they stayed for over 2.5 hours.

I looked at the contract for booking the consultation. The back page stated something about being liable to a tribunal hearing if you cancelled the appointment even in the 10 day cooling off period.

What a shonky group of people. I wasted 2.5 hours of my valuable time. I feel a little cheated but I am glad I did not fall for their conniving tricks.

Thank you for your alerts about these shonks.
RESPONSE

Well done on telling them to get out of your home. And good on you for seeing through their pretend financial advisors ploy (a ploy used by plenty of rogues to sell over-priced property)

And don't feel cheated, feel delighted.

At about the same time as we received your message we heard from a couple who did not kick The Insight Group out of their home back in 2005.

As typically happens with those caught in the Insight scams, this couple ended up being stitched into an over-priced property.

The repayments are now so high and the value of the property is now so low (compared with the price they paid) that this couple is in real danger of losing their family home.

The moral of this story is simple:

If you kick The Insight Group out of your home early enough, you won't run the risk of losing your home later.

***************

If you wish to send a question or comment to Neil Jenman you are most welcome. Neil tries to read every e-mail and respond personally. We have posted some of the common questions together with those we feel may help you. Thank you for your interest.
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