Would you be offended?

not at all.

you can prolly do it over the phone...

Not if I knew the reasons why in advance and I found the uninvited solicitations welcome. Just remember two phrases:

1) The Efficient Market Theory

2) Index funds

If they did not fully understand these two items, I would not let them clean my toilet let alone give me advice or sell me a financial product.

It depends. If they were interested in selling me something, I would not be offended, but I might not "bite".

I don't know of the relationship that you have with this bank. Do you have a mortgage that is being paid back late? Have you bounced more than a few checks? Maybe they are trying to be helpful.

The point is, I have no idea as to the motivation of this bank in setting you up with a financial advisor.

before i would agree on a meeting , i would ask them what it is that they want to discuss .
they may just be angling for some of your dollars - like investing in their mutual funds :wink: .
the investment advisor may be looking for a new client - needs to drum up business !
i certainly would NOT go unless i knew precisely what they want to talk about AND if it was to MY ADVANTAGE- after all they want YOUR time , right ?
hbg

Well, I'm starting a business (they knew nothing about until they called wanting to set a date with me and adviser) and I've done lots of spending the past few months (credit line) on items needed to start my business.
I'm on unemployment at the moment (they're aware of this) and gave me the credit line (when I was unemployed).
I'm entering a government program for people who are on unemployment and want to start a business. I'm working with the government on this now.

I took offense to the call because it makes me think my bank doesn't have faith in me getting my depts with them paid.

My bills are paid every month, on time, and if my unemployment runs out before I get the approval and funding from the government, then I just go back to work and continue to pay my bills until everything is ready for me to get started.

The agent I bought my car from even called me last week and asked if I was back to work yet and I just wanted to tell him that as long as my payments are made, on time, every month, it's none of your @#$%in business.

I don't know, it just bugs me!

Maybe the bank could be of help to you?
It's all in how you look at it.

now that would bug the crap outta me...

Montana- Of course it bugs you. But you need to understand the times. Because of the mortgage situation, bankers are understandably anxious, and you are receiving the fallout from this.

I know that it is not easy, but try not to personalize. The bank just wants to be assured that their money is safe. Don't sweat it!

Phoenix, I have a credit line with them and a credit card, owing on both, but are paid faithfull every month. I even pay early and never am late.

My credit standing is excellent and I plan on keeping it that way.

Hamburger, one of the first thing they asked was if I was still working at Fantch. They know I was laid off earlier in the year.
She asked me if anything was new in my life, so I told her about my business plans, in which she lit up (almost like a Christmas tree).
Suddenly she was interested in that, so we set up an appointment for Dec 27th.

I needed to touch base with my bank anyway, but in my time, in my way.

I just can't help the way I feel about these calls. My bills are paid, so @#$% off (is what I feel like saying)

eoe, you're right! I know you're right. My mother sees it that way as well. I just can't help but take offense. <sigh>

Region, and it certainly bugged the crap out of me!

Phoenix, I could understand if I had a mortgage, but my house is paid and I only owe them a mere $12,000 in credit, which is paid and always has been paid faithful, every month, on time (usually early even).

I'm trying hard not to take it personally, but I absolutely hate it when people breath down my back for no reason at all.

I could see if my bills where being paid late or not paid at all, but that's far from the case.

Uh... given your credit history etc, yes, I'd be offended.

That being said, however, I'd milk the free financial advice for all it's worth. I have to pay for mine, and I love freebies

And if you're starting up a business, goodwill from the bank goes a long way.

Milk it, baby!

Given the way you pay your bills, the bank probably wants to increase your line of credit, and the car dealer wants to sell you another car.

They want more of your business (money).

It's end of year - they've got quotas to meet for their appraisals.

You're right! Financial advisers cost a bundle, but I was planning on going to see them anyway and this kinda burst my bubble.

I'll put my tail between my legs and go see what they have in mind. Hey, the last time they wanted me to talk to a financial adviser, they gave me my credit line (pre-approved), so maybe they do want to increase my credit line, but seeing that I'm still unemployed, I would wonder why.

Would be nice though, because I have a nice and cozy low interest rate on that baby and I would prefer that over going through the whole red tape with a sererate government loan.

Ok, I feel better now and if the bank has any conserns, I'll at least ease that for them and assure them that my bills will be paid, as they always have.

Thanks Mame :-D

<still bugs me, though>

Sharks! They're all sharks, I tell ya

Thanks Beth. I took it as them worrying about me paying my depts, but she did mention that I was an outstanding customer since 2001 :-D

P.S. "depts" is short for "departments", you big Atlantic goof. You mean "debts"... now how's that going to look at the bank if you start saying "depts"???

You know, you guys are really AWESOME! I was really ticked off before I posted about it here and you all came along and wiped away my anger!

Just like that!

You guys rock! :-D

Good thing spelling isn't all that important in my business venture, eh

Thanks Mame

Good thing spelling isn't all that important in my business venture, eh

Thanks Mame

remember, youve gotta retire your line of credit for about 30 days each year (at least here in the states), We work offf our LOC for payroll shortfalls or big equipment purchases, because its a favorable rate. But we are religious about the "rest period" .Aybe they want to exchange your LOC into a term loan. Its not so bad especially if you see that your business may take a bit longer to get up and running. Itll just jack your payments up a bit, and Can is a bit different about its deductabilities. (I did some work in NEwfie land and was amazed at the "kick backs" (as I called em) that the HST's and VAT's wrought.
I dont see how Canadians make it, even though med is payed for. Down here we count on many fair deductions which you guys dont have.