Strategies For Wealth - Financial Advice Not In My Best Interest.

1 of 1 Strategies For Wealth reviews

An employee and financial coach (the employees brother) at "Strategies For Wealth", in White Plains, NY, advised my wife and I that we should set up a whole life plan (for me and my 2 year old son) and term life (for my wife and I) and to use the whole life as a savings vehicle instead of contributing to an IRA/401K.My wife and I were finding the payments were tough to make and we even told these guys we weren't sure if we could do it.

But they pushed and pushed and we finally just agreed thinking they had our best interest in mind. After doing some research and realizing this wasn't in my families best interest (the sales rep, and his brother, who set it up make a LOT of commission off of whole life plans so of course they would steer me away from an IRA/401k where they would get squat). So I emailed to ask them if they could change it (as they are suppose to since they set it up) as I wanted to lose the whole life plans but keep the term (reduced to what we can afford). They called me up and told me they no longer want to deal with me as they were "severing the relationship" since I was choosing not to take their advice and to call the insurance company (Guardian) myself to make the changes (which isn't easy).

So basically what happened was, without my whole life policies I was of no use to them. So as a result I am dropping all of my insurance with Guardian and going elsewhere. Sorry Guardian, I would have stayed with you had the guys at Strategies for Wealth not been so unprofessional and just made the changes I requested. So because of them, you are losing multiple customers.

To anyone reading this I would stay away from "Strategies For Wealth" the only strategy for wealth I can see here is to make them (the company/staff) more wealthy on the clients inexperience/lack of knowledge.

When I called Guardian Life Insurance to make the changes, they said "you know, your agent should really be doing this" so I explained to them "my agent broke up with me and doesn't want to do it" and they were in shock at how unprofessional that was.

This review is a subjective opinion of a user.
Report Comment

More Review Details

Monetary loss:
$5500
Product or service
Financial Advice And Investment
Review category
Financial Services
review #481647
Had an experience with Strategies For Wealth? Submit review ›
Helpful? 7 Yes 7 0 No 0
Had the same issue 3 Yes 3
1 of 1 Strategies For Wealth reviews
Comment as anonymous As anonymous or Log in
OR Is it your business? Respond to your
customers as verified company representative.
Apply for a Free Plan
Aubrey

Apr 16, 2015 #972886 Larchmont, New York, United States

I don't trust this company at all. I too had a bad experience with them. Peter Lichtenberg is like a car salesman. Very unscrupulous. He wanted us to stop putting money in our 401k and 403b and place everything in a whole life policy that we frany couldn't afford as newly weds with two kids. After telling him that we want to take another direction he emailed and told me that I wasted four hours of his time and that my wife and I are unethical!! Very unprofessional company. I would steer far away from them

0 0 Reply
Jen

Apr 07, 2014 #802819

wow, totally unprofessional. Never heard of such a thing, they should be ashamed of themselves.

0 0 Reply
The Duke

Apr 05, 2014 #802343 White Plains, New York, United States

Thank you for sharing your experience, sounds like you guys fell victim to a very common "strategy" used by "financial advisors".

0 0 Reply
Great comment! Would you like to convert it into review?

You will be able to edit the text before publishing.

 
×
You were reading a complaint about Strategies For Wealth.
Filing a new complaint about
×