Does your financial salesman's elevator pitch make you want to take the stairs instead?

Does your financial salesman’s elevator pitch make you want to take the stairs instead?

Oh, we totally comprehend! Your “trusted advisor” probably seemed more like a smooth-talking angel when he convinced you to jump on board with an offshore portfolio bond or long-term savings plan from some fancy life insurer in places like the Isle of Man, Guernsey, or Mauritius. But hey, let’s be real, you wouldn’t have touched that investment with a ten-foot pole if you knew better! So your “trusted advisor” dazzled you with a mesmerising sales pitch? But let’s be real. Here’s what he should have said when he lured you into this ridiculously expensive offshore investment plan: 

If you invest $2,000 per month in the scheme I’m offering, I’ll receive an up-front commission of approximately $27,000.” Some of it will be given to my employer. But most of it will go to me. You may not realise it, but to maximise my commission, I must maximise the term. That is why I prefer investing you for 25 years. I am paid the whole commission as soon as you begin investing. You will not be able to sell all your investment before a certain date without incurring a significant penalty. That penalty might be as much as 80% or more of the value of your portfolio. To sell everything without penalty, you must maintain the money invested for a period of up to 25 years. Even if you keep the money invested indefinitely, you may not generate a profit. There will be nosebleed costs. Over a 10-year or longer timeframe, you have a limited chance of outperforming inflation. I’m also not well educated, so I don’t know much about diversification. That implies you could lose a lot of money over the next 25 years.

That doesn’t sound enticing, but expats still fall into these traps daily! Financial sales people almost never (if ever) provide the whole truth. We are not sure if you dealt with any financial salesman, but you were most likely contacted by someone from a huge international consultancy business trying to lure you into this ridiculously expensive offshore investment plan. So, regardless of what your “trusted advisor” told you, he had not much financial training beyond a week-long sales course. That sales training includes learning how to “psychologically manipulate expat clients into handing over their money.” It explains everything.

Bottom line: contact us for a free no-obligation conversation and we’ll take it from there.