You are at a mall or exhibition when someone ask you to enter a lucky draw or contest to win some insignificant prize. To enter you need to fill up a form. Be careful if they ask too many personal details such a birthday, ID number, etc. besides your name and address. Size up the company? Is it a reputable company - do you want to trust your personal details to these companies. Remember when we call up the bank and they want to verify our identity? They ask for our full name, ID number, birthday, address and phone number to confirm our identity. Do we want some unknown company to get hold of these details?
To err on the side of caution, skip these contests/draws.
I was recommended to register at a website for a free marketing magazine subscription. The site asked for too many personal details. I backed out and did not register.
28 July 2009
How One Relationship Manager Sells
I brought my mum to sign up for a money market fund at the local bank. The young fresh out of school Relationship Manager (RM) welcomed us and started introducing the flavour of the month, a structured product. I told her that my mum is 80+ and I do not think her recommended product is suitable for her. She finally agreed to sign her up for the money market fund.
After filling up the forms, she got her supervisor to be the witness that we are fully aware of the risks, etc. of the structured product she initially pushed (this is to protect the bank). I first explained to my mum that this is the supervisor of the RM and it will be the first and last time my mum will see him. He was embarrassed. He then thanked her for investing in the structured product. I corrected him that she bought a market money market fund not the structured product they were trying to push!
The regulator talked about the bank’s proper selling process! But in the trenches its another process especially when their boss is pressing them on sales target of specific products. They roll their eyes when you want to place a fixed deposit cause the time spent could have been on a more rewarding client. They sell first then do profiling later as a formality!
After filling up the forms, she got her supervisor to be the witness that we are fully aware of the risks, etc. of the structured product she initially pushed (this is to protect the bank). I first explained to my mum that this is the supervisor of the RM and it will be the first and last time my mum will see him. He was embarrassed. He then thanked her for investing in the structured product. I corrected him that she bought a market money market fund not the structured product they were trying to push!
The regulator talked about the bank’s proper selling process! But in the trenches its another process especially when their boss is pressing them on sales target of specific products. They roll their eyes when you want to place a fixed deposit cause the time spent could have been on a more rewarding client. They sell first then do profiling later as a formality!
23 July 2009
Reserved Seats on Trains Make Passengers Sleepy
On one train journey, I remarked (with a serious face) to my travelling companion that those corner seats reserved for senior citizens and pregnant women, make people sleepy. He thought I was serious and looked around at all the four reserved seats and noted that all the young adults were indeed dozing away! He looked surprised and almost accepted my satirical observation. Of course my smile gave me away.
I am tempted to post all those sleepers on Flickr.
I am tempted to post all those sleepers on Flickr.
21 July 2009
They Checked My Temperature But Not My Guests
I brought two friends to my club. As part of the regulations I had to sign them in. After that the friendly security guard took my temperature as part of the measures to contain H1N1. He pointed his temperature probe at my forehead and pronounced me free from fever. I somehow sensed that he will not take my friends’ temperature.
As expected he did not take their temperature. I silently had a laugh over this. Measures were set in place but do the people understand what they were doing. So intend was he in taking my temperature that he left out my friends. So much for process set in place but not understanding the intention! Of course I will not name my club. Rather embarrassing and the guard will get reprimanded.
As expected he did not take their temperature. I silently had a laugh over this. Measures were set in place but do the people understand what they were doing. So intend was he in taking my temperature that he left out my friends. So much for process set in place but not understanding the intention! Of course I will not name my club. Rather embarrassing and the guard will get reprimanded.
20 July 2009
Sim Lim Tower
I went to Sim Lim Tower to look for a CATV signal amplifier to improve my TV reception. Approached a shop on the 2nd floor. The salesman asked me to wait while he went to get a one input-four output unit to show me. He obviously went to the distributor to get the unit. He showed it to me. I asked whether there was a one input-two output unit. He derisively said no such thing.
I looked at the unit he showed me and asked how much. He said $35. I said too much. I was looking at one for $12.
I then went to the first floor and approached another shop. They showed me the same unit for $24 without bargaining. I asked whether they have one with 2 output. They called up the distributor to check then offered me one for $12!
Be careful when shopping. You must know your price before approaching the sales staff.
There was another time when I was looking for a remote for my Toshiba TV. The guy asked for $30. I finally bought one at Rochor Centre for $10!
I looked at the unit he showed me and asked how much. He said $35. I said too much. I was looking at one for $12.
I then went to the first floor and approached another shop. They showed me the same unit for $24 without bargaining. I asked whether they have one with 2 output. They called up the distributor to check then offered me one for $12!
Be careful when shopping. You must know your price before approaching the sales staff.
There was another time when I was looking for a remote for my Toshiba TV. The guy asked for $30. I finally bought one at Rochor Centre for $10!
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