Weird Financial request

prasads · Post by **prasads** » Tue Nov 30, 2010 10:01 pm

During our thanksgiving get together, one of my colleagues had an interesting story to share with me. One of our common acquaintances (we used to take same flight every monday as we were all consultants doing monday to Thursday travel) has been pestering my colleague as well other acquaintances to reveal their financial stature. At first, he was the one who volunteered and showed my colleague all his assets (through vanguard where you can consolidate all your assets and liabilities) and explained that it was thorugh sheer conservative saving and investing he accumlated that amount. He is in early thirties as we all are and so far has accumulated around 900k without any real estate investements either in India or the US. My colleage was impressed by this guy and started asking him for some advice. From that point on, this guy would call my colleague as well as others to whom he showed his assets and ask them to input all their assets into a consolidated tool like vanguard, so he can see them. I told my colleague not to take such step unless he has financial advisor relationship with this guy. With the little interaction I have from this guy, he is very competitive and think he is asking people to show their finances so he can compare where he stands. Just wanted to get all yours thoughts related to his weird request

Desi · Post by **Desi** » Tue Nov 30, 2010 10:11 pm

Our thoughts and your guesses may be meaningless. Why not ask him directly as to why he wants your details? If you are not interested, tell him straight forward that you are not interested - period and no reason need be given.

If he is trying to harness clients, ask him for his Form ADV.

prasads · Post by **prasads** » Tue Nov 30, 2010 10:20 pm

Since he is not a qualified financial advisor, I suggested my friend not to disclose any information. He may have been successful in his own way but without establishing a financial advisor relationship, I dont think it is prudent to share the financial information. I dont get to see him much now a days as we dont travel on the same flights but my answer if he approached me would be "Sorry, I dont like to share my finances other than my family and my financial advisor"

Umang · Post by **Umang** » Sat Sep 23, 2017 12:24 am

prasads;350951During our thanksgiving get together, one of my colleagues had an interesting story to share with me. One of our common acquaintances (we used to take same flight every monday as we were all consultants doing monday to Thursday travel) has been pestering my colleague as well other acquaintances to reveal their financial stature. At first, he was the one who volunteered and showed my colleague all his assets (through vanguard where you can consolidate all your assets and liabilities) and explained that it was thorugh sheer conservative saving and investing he accumlated that amount. He is in early thirties as we all are and so far has accumulated around 900k without any real estate investements either in India or the US. My colleage was impressed by this guy and started asking him for some advice. From that point on, this guy would call my colleague as well as others to whom he showed his assets and ask them to input all their assets into a consolidated tool like vanguard, so he can see them. I told my colleague not to take such step unless he has financial advisor relationship with this guy. With the little interaction I have from this guy, he is very competitive and think he is asking people to show their finances so he can compare where he stands. Just wanted to get all yours thoughts related to his weird request

When shall Indians learn? You cannot behave like this.

desi4ever · Post by **desi4ever** » Sat Sep 23, 2017 4:28 am

Umang;663144When shall Indians learn? You cannot behave like this.

Learn what ? What's wrong if someone voluntarily shows of his financial assets ? If a white dude shows his financial assets to another white dude , is that okay ?You cannot scold them for this.

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Umang · Post by **Umang** » Sat Sep 23, 2017 4:42 am

desi4ever;663162Learn what ? What's wrong if someone voluntarily shows of his financial assets ? If a white dude shows his financial assets to another white dude , is that okay ?You cannot scold them for this.

Perhaps I was unclear. Disclosing personal financial information out of one's own free will is fine. Asking and pressuring others to disclose their financial information when they are clearly uncomfortable with this sort of thing is what I am protesting against.

When I said "You cannot behave like this", I was not admonishing the OP, but the the chap making the "weird financial request".

I hope this settles the matter and we can go on enjoying this beautiful forum.

desi4ever · Post by **desi4ever** » Sat Sep 23, 2017 4:43 am

Umang;663163Perhaps I was unclear. Disclosing personal financial information out of one's own free will is fine. Asking and pressuring others to disclose their financial information when they are clearly uncomfortable with this sort of thing is what I am protesting against.

When I said "You cannot behave like this", I was not admonishing the OP, but the the chap making the "weird financial request".

I hope this settles the matter and we can go on enjoying this beautiful forum.

All good now

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