Monday, December 31, 2012

Mutual Fund Salesman Fights Back

This is a funny one I got from Ken Kivenko who is a tireless advocate for the small investor up against the giant mutual fund industry. You can read his monthly newsletters at Canadian Fund Watch. Ken says he received the following message signed as the branch manager of a member firm of the Mutual Fund Dealers Association:

“Mr. Kivenko, please stop sending your Newsletter to my clients Mr. ----- and Ms. -----. Since they have been receiving your rag they constantly pester us about fund fees, returns and how our Seniors Specialists are paid. The more they read the more anxious they become. They are elderly and your stories are scaring them. It is now virtually impossible to even approach them about our new line of proprietary funds because of your rantings. The next thing I know they'll be asking about alternative investment choices. Our sales team is worried this will spread. STOP sending this material NOW! Have a good day.”

This is too funny for words, which makes me think that it didn’t really come from the branch manager of an MFDA firm, but who knows? Keep up the great work, Ken.

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