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Beware Financial Advisors on the prowl!
Hello, I am sending this message as a responsible Basel citizen, so please bear with me.
I work for one of the large pharma companies here in Basel and I have been cold called on quite a few occasions by two companies who I will not name, but names include words like …….. & partners, and …………. wealth management, F….Capital, and they describe themselves as Independent financial advisors in the offshore market who help ex-patriots with their long term financial stability, I have been pestered by these guys and have looked into them more closely, they are in fact just salesmen targeting the professional employees of the pharmaceutical industry here in Basel.
Because a lot of professional employees in Basel are considered ex-patriots (people working in a different country than where they were born) they are targeted by these financial salesmen because they qualify for investments in the offshore investment houses. This is all fine but you should be aware that the charges these investments are with are very high and these salesmen and women are not qualified to give advice in Switzerland and many not qualified in finance at all. They also give high pressure timeshare like presentations and are really persistent. If you sign up with these companies, in five years will they still want to know you, they have your commission and will have probably moved on.
As I say I am a financial professional with a large pharma company and it annoys me when I see people being sucked into these long term, (sometimes 25 year arrangements) with very high and hidden charges to salesmen with no qualifications.
So this is just a warning that if you are cold called in your office or at home then be aware of the above and make your choice as an informed consumer.
Please pass this message on to your colleagues so that people are not misled into investment arrangements that may not be suitable to them, as I only have a few email addresses from colleagues for professionals outside of my particular company.
Thanks for your time, feel free to reply if you have had any experience of this