Jump to content

Brokers


scorcher

Recommended Posts

last week I told my broker that I would be doing the majority of my trading using an online broker as it would save me a minimum $7k based on last 12 months with him, I said I would still trade thru him on any of the stocks he got me research on etc etc. So last week I called up on friday and placed an order only to be told that my acc had been deactivated by my broker and he had put down late payment as the reason??? I have also learnt that he has been talking to people we know in common about my trading and basically bagging me to all and sundry, OI guess my question is what would you do are there any avenues thru asx or others that I can follow this up thru or would you just let sleeeping dogs lie??
Link to comment
Share on other sites

  • Replies 230
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

In reply to: scorcher on Monday 02/07/07 12:09pm

Forget him ... not worth fighting over, & nothing to be gained ... maybe just send a nice letter slamming him, to make you feel better!

 

Then get a good online broker ... do your own research ... And you will do much better

 

cheers

Link to comment
Share on other sites

In reply to: scorcher on Monday 02/07/07 01:09pm

 

I'm with Tibbs, it's not worth the hassle and says more about his character than yours. What goes around comes around - maybe that explains him losing clients?

 

Most people do better without a broker. Keep educating yourself on the markets, do your own research, learn basic charting skills for timing, cut your losses short, review your mistakes and successes, and persist, persist, persist. I imagine you will do quite well over time (and save a packet with an online broker).

 

Spartz.

Link to comment
Share on other sites

Are you guys joking?? I'd write down your story in great detail, and then send it to the business editor of every major newspaper in Australia and ask them if they would like to use it in a story titled "Brokers - Do we really need them any more?"

 

cc your rat bag broker of course. That'll get his heart started.

 

But then I grew up in the US. We do this sort of thing for fun. The culture here is much more civilised. Maybe that is why the Aussie consumer gets stomped on.

Link to comment
Share on other sites

Assuming you are not at fault for late payments, I would be speakling directly with the Managing Director of the Brokerage House & explain why you are no longer deal with X at his firm. This leaves it up to the Managing Director to offer a written apology & possibly an alternative broker contact. If no satisfaction with telephone conversation explain you intend to go public & reveal the name of the brokerage house on SS plus other share chat sites to warn other investors. Give him 48 hours to come back with a satisfactory response to this threat then follow through if required.

Advisers don't like have to explain their actions/misconduct to the person who signs their pay cheque. The adviser will now also be aware your friends are quite prepared to pass on his remarks about you.

Online make soon purchases expenses c.f. a good advisor working an order throughout the day. Brokers Research normally not worth the paper it is written on but a good adviser is certainly worth his weigh in brokerage. There are few good advisers & the good ones have their own financial committment to a stock i.e walk the talk c.f. the churners.

Regards

Buffett

Link to comment
Share on other sites

In reply to: scorcher on Monday 02/07/07 12:39pm

QUOTE
I have also learnt that he has been talking to people we know in common about my trading and basically bagging me to all and sundry

 

breach of the federal privacy act (1998)....massive penalties. Ask him to give you a blank cheque!

 

Write to the firm, citing the incident and the breach of the act and advise you will take matters further....wait for the response.

Link to comment
Share on other sites

QUOTE (rumpig @ Monday 02/07/07 09:33pm)

not volunteering there are you rumpig? http://www.sharescene.com/html/emoticons/lmaosmiley.gif

 

seriously tho if he is

1. making a false claim that you have been deactivated due to late payment

and

2. defaming your character behind your back and you have evidence

 

take the prick to town

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...