Mis-selling is not uncommon during the sale of financial products. Many of us buy investment products with a false impression of the product. While salespersons/advisors are the culprits, we, the investors must share the blame too. We rely too much on the illustrations and pamphlets shared and do not care to look beyond those fancy documents. Advisors/salespersons, on their … [Read more...] about SBI Life Smart Elite: How do you mis-sell the plan?
mis-selling by banks
Every profession requires you to have persuasive skills. You have to persuade your boss to grant you a leave. You have to persuade our team member to agree to your line of thinking. Your boss has to persuade you to work over the weekend. You may say your boss hasn’t really persuaded you to stay work over weekend. But he used his Authority to make you work. You could have been … [Read more...] about The Little Tricks Our Minds Play: How to Avoid being a Victim of Mis-selling?
If you read personal finance section of business newspapers or personal finance magazines, you will realize the mis-selling is rampant in Indian financial services sector. Product suitability is conveniently sacrificed to earn high commissions. Poorly structured upfront incentive structure is one of the foremost reasons behind mis-selling. Sales target or income pressure is … [Read more...] about How Written or E-mail communication with Banks and Financial Institutions can help?