Menu
Expat.com

Dodgy Financial Advisors

Last activity 26 March 2014 by bkmulder

Post new topic

James Kelly

Has anyone been provided with poor financial device in Shanghai, has you advisor told you that you were signing up for one thing and then later you have found out that what was stated and what was written were two different things. I have just lost 75% of the $100,000 I invested with a certain company in Shanghai over 5 years, but I do not belive that this is the only company doing this. Ever heard of front loading where they charggeSellers of these funds are unqualified, they will sign you up to maximize their benefit not your best interests. I would like to make representation to the Chinese government to have this type of practice stopped. These companies prey on time short, trusting people that believe that these IFA's are working for their best interests. If you write to this forum please do not use names. I would like to form a group that can take this to the next level. These companies are very wealthy due to people like us. If we use their names they will shut us down before we can group together to challenge them. Across the world there are sites shut down that have discussed this topic. As a ripped off expat I feel it is my duty to stop this happening to others, let me know your story, remember no company names to be used.

bkmulder

In a unregulated financial markets like China your experience is more common. Only thing is not all firms are dodgy, most important thing is to check the firm has other offices in regulated financial markets. I know few good firms in Shanghai but yes indeed lot only focus on short term deals. I am sorry you had this experience. Success.

Articles to help you in your expat project in Shanghai

  • Banking in China
    Banking in China

    If you've moved to China with the intention to stay for long, there is no way to get around opening a bank ...

  • Bank Account in China
    Bank Account in China

    Because we had this question already somewhere and this topic is importend to all new China Expats who will have ...

  • Buying property in Shanghai
    Buying property in Shanghai

    Shanghai has continually appeared close to the top of the list of cities with the most expensive real estate in ...

  • Finding work in Shanghai
    Finding work in Shanghai

    Shanghai frequently tops the list of the most desirable destinations for expats in China — in no small part ...

  • Accommodation in Shanghai
    Accommodation in Shanghai

    Shanghai is a modern international metropolis that offers plenty of accommodation options for expats, both ...

  • Study in Shanghai
    Study in Shanghai

    China's largest city is also the country's commercial hub and one of the trendiest cities in Asia. The ...

  • Student life in Shanghai
    Student life in Shanghai

    Studying abroad can be an exciting and eye-opening experience in a variety of ways. Especially if you have chosen ...

  • Adjusting to the local culture and lifestyle in Shanghai
    Adjusting to the local culture and lifestyle in Shanghai

    Shanghai is one of China's most modern, diverse and cosmopolitan cities. It's also a city with rich cultural and ...

All of Shanghai's guide articles