It takes a lot of courage and pain to apart from a profitable business, or orgination, specially when there are having hundred of clients and earning is in few Lakhs. We still have friendly relationship with Alice and often we do discuss few things with its Director Mr Sidhu. That's the reason we have never disrupted earlier clients. We have verbally a parted and since March 2014 neither we have received our commission nor we have asked for it.
REPLY: Your support for previous clients registered with Alice Blue became dysfunctional after you jumped to F6Finserve
Everything was intimated to clients well in advance and to provide uninterrupted services to them there was a cell formed and all clients were asked to use Alice’s webmail for further communication. One such mail I am attaching here:-
Quote:
INFO <info@wisdomxxxxxx>
to askus, rms, crd, SUPPORT
Dear sir/Mam,
xxxxxxxxxxx
To serve you better we have introduced a webmail exclusively for online clients i.e. NewDelhi@alicexxxx. We would like to request you to use this mail exclusively for support instead of support@wisdomxxxxx.
Backoffice could be logged in through :
http://bo.xxxxxxxxxxxxxxx_Login.asp
Online trading could be loggin in through :
https://xxxxxxxxxxxxcom/
Mobile No could be used as xxxxxxxxx
This is for your information please.
Support Team
Wisdom Capital Advisors Pvt Ltd
REPLY TO ABOVE: No such mail was received by the account holder. If you've sent this mail to account holder why have you conveniently blanked the date. And where have you mentioned about your alliance with F6finserve
Also we have never insisted a single person to migrate F6 compulsorily. As the charges were on lower side with F6, when few clients asked for lower charges we have told them they could migrate not before that. I am reproducing your mail in this regard.
REPLY TO SECOND MAIL: This mail was sent to wc by the account holder to draw your attention to differing Brokerage charges of Rs 1111/- you were charging and Rs.999/- mentioned on your website. If you feel a traders should not mail you a protest letter if you are ripping them. So be it....
Your reply to the same mail, show how stable wc is as a business establishment, within six months wisdom capital jumped from one Main Broker to another, which resulted in undue harassment for the trader registered to previous broker- AB, as you were ignoring them, secondly submitting new KYC forms every time wc decide to change Brokers, is not favorable for clients as the status quo of their account changes. This further adds to issues at the time of filing tax returns..
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REPLY TO BELOW ALLEGATION: Yes mails have been sent to you again and again by account holder, as you rightly mentioned below, it was for change of plans, it’s because even after four months from Feb'14 first mail, to May'14 you did not do it and every time it was enquired, on chat about change of plans, Mr. Manoj your admin personnel would say to send forms for change of plans and this happened thrice, isn’t that harassment and lack of professionalism on your part, asking a client to resend the same form thrice..
And you are talking about our moral? Where is your moral, when it comes to paying your brokerage to a service provider? For few bucks you have sent mails again and again, and now when your fixed brokerage could not be debited due to whatsoever reason for couple of months why didn’t you requested broker so that your charges could be debited from your account??
REPLY REGARDING BROKERAGE : You say the account holder owes you brokerage for a couple of months. Are you saying, you let clients trade without charging brokerage, I don't think any Broker anywhere (including Alice Blue here) would allow anyone to trade without debiting their account, for brokerage and other charges.... Monumental lies.
If your claim for brokerage is legitimate please send a mail to this client from Wisdom capital claiming brokerage charges, period of brokerage pending, as well as other details to substantiate those claims as the Regulator/Exchange is not entertaining complains made in forums...
.
You may not know a lot of forum members are enjoying discounted plans upto 100% free (including your friend where we haven't charged brokerage couple of month, also he used to enjoy 50% discounted plans for his trading alongwith his father.
REPLY: Below is an attempt at subterfuge..
Now you may ask why did we a parted?
(a) We were getting overwhelming response from trader communities, and despite all efforts and increasing supporting staffs account opening was taking a lot of time specially Demat activation was a nightmare for us. There was a gap of communication, as most of Alice’s staffs don’t understand English or Hindi. To overcome this problem we have appointed a Tamil speaking local chap to fill the gap, who eventually tried to copy the business ......
(b) We wanted to explore ‘State of the Art’ kind of technologies for that Alice were not comfortable nor they were comfortable in reducing charges further or offering free Demat, even though we had offered option of subsidy for the same.
Finally we have partnered (Not Subbroker) F6 which we are co-located in walking distance, to offer world class services to Indian Traders community.
You may not know that we have 60 Lakh budget per annum for ads in CNBC.You could watch the ads anytime in CNBC.
You may not know, we are working with world leaders in financial sector like Reuters to introduce unique Trading platforms....
You may not know we are the only organisation offering free Demat for life time unconditional.
We are the only company offers more than three type of Trading software free of cost. We have our own software for Mobile Trading alongwith NOW.
We are the only company provide/Offers Fully automated trading for institution and retail clients directly through Financial Technologies and Omnisys’s own Strategies at a lowest prices.
I had gone through all your recent posts against us and which gives me immense pain to reply you spoiling my holiday.
REPLY: How did you approve branch shifting request if charges are pending?.
I have approved your branch shifting request, and you may trade wherever u want.
Best Regards
