- Report: #649654
Complaint Review: Navisis Financial - chicago Illinois
Reported By:
jimmy -
wheaton, Illinois, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Navisis Financial
200 e ohio st. chicago, Illinois, United States of America
Phone:
Web:
www.navisisfinancial.com
Categories:
Business Rating:
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Navisis Financial Scam artists in the financial services industry chicago, Illinois
Navisis Financial is a bunch of scam artists. If you are considering either working for the company or doing business with them don't they are out to rip you off!! As a former employee I saw it all first hand what they do to as an employee is really bad. When I started they said nothing about an employment contract until it's time to get paid upon receipt of your first check which will be below minimum wage they make you sign a contract stating that unless you work there for at least 2 years when/if you quit you will have to pay them back all of your wages while you working as well as % of the money you would of made up until the 2 yr mark.
On top of that they make you do very deceptive things to get "leads" from the business you call. Another thing about this contract is that at any time they have the right to alter your pay up to and including not paying you at all which did happen. From the customer side they use technical analysis to churn the clients investments, immediately sell them out of all their positions (stocks, bonds, mf, annuities) and put them into what the system says they should be in and constantly move them in and out of products all the while earning 2-4% in and out of each trade. If you have come across this it is probably b/c you were scouted by them for employment or to manage you acct. But stay away at all costs you will loose!!!!!!
On top of that they make you do very deceptive things to get "leads" from the business you call. Another thing about this contract is that at any time they have the right to alter your pay up to and including not paying you at all which did happen. From the customer side they use technical analysis to churn the clients investments, immediately sell them out of all their positions (stocks, bonds, mf, annuities) and put them into what the system says they should be in and constantly move them in and out of products all the while earning 2-4% in and out of each trade. If you have come across this it is probably b/c you were scouted by them for employment or to manage you acct. But stay away at all costs you will loose!!!!!!
2 Updates & Rebuttals
michael cockriel
chicago,Illinois,
navisis financial is an outstanding firm
#2UPDATE EX-employee responds
Wed, March 12, 2014
My name is michael p cockriel and afteri read these false account about my former employer not only are the things said in this site false, they are just striaght angry lies. Navisis finacial is not only filled with brilliant broker like the ceo jack or kevin keane they also strive for succes. They are not scam artists they are brilliant market technicians.As far as there pay goes they follow the same guide lines and xontract standards as any other firm in the bussiness. They do not churn acount which by the way is illegal. They use a stredgy that is succesfull and they do not go around and sell everything in peoples ports. I can tell first hand there customer service is five star and they are there to help you plan for your future navisis finacial is a fantastic firm and with no hesitation gladly return to navisis finacial to be apart of the best team in the bussiness.
Sincerly, michael p Cockriel
NavisisFinancial
wheaton,Illinois,
United States of America
Response - Navisis Financial
#3UPDATE Employee
Wed, February 29, 2012
First, all individuals, whether employees or independent
contractors of Navisis, are required to sign agreements with Navisis that
contain strict confidentiality provisions.
Obviously, these agreements are necessary not only to protect our
clients sensitive account information and personal asset information, but also
to comply with privacy, SEC and FINRA regulations. Thus, although Jimmy does not like the
terms of his employment contract, these contracts are critical to protect
Navisis customers.
Second, it appears that Jimmy also disagrees with his pay
structure. Navisis Financials pay
structure is also confidential. However,
it can be said generally that pay is dependent on performance. This type of pay structure is very standard
throughout the investment industry. If
Jimmy was unhappy with his pay structure, then the fault lies with Jimmy, not
Navisis. There are many employees of
Navisis governed by the same type of pay structure that have proven to be
extremely successful.
Finally, Navisis complies with all SEC and FINRA regulations
with respect to its communications with prospective and current customers. It is unclear what Jimmy means by deceptive
things as Jimmy is not specific nor is he articulate on this issue. Jimmys accusation of churning is not only
unsubstantiated but is also completely false.
Navisis does not promote nor does it allow any of its associates to
churn a clients investment accounts.
This is strictly monitored by National Securities Corporation, its
broker dealer, and by FINRA. Thus, it
appears that Jimmy does not understand the industry standards, the regulations
governing brokers, or the checks and balances in place to protect customers and
their investment accounts. This may have
been one of the reasons Jimmy was not successful at Navisis.
Respectfully,
Executive Management
Navisis Financial
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