Sharing of client data by brokers / intermediatories

Biker

Active Member
#1
Since have started trading, I have started receiving innumerable marketing call from stock trading advisory firms. Also I am getting lot of spam emails.

I opened account with RKSV, demat with il&fs and registered on Nest terminal website. I dont know if any other intermediatories are involved.

Till now I never received any such calls and why now only I have started receiving such calls?! The obvious logic is that any one of these intermediatories is sharing client's data to such tele marketers. Also in spam email the name format is same as my name format in trading account.

God know what else they are sharing. Its good that atleast i have not given power of attorney so that broker doesnt know which stocks i have.

The professionalism in financial services firms has gone below than street prostitute..
 

Biker

Active Member
#3
Most of the times its not the firm who sells your data its some back office employee who sells the data from some quick money.
Looks like the client data leak is from IL&FS side (though not sure) because the telemarketers mention my demat account most of the time..

IL&FS is worse than a govt dept..
 

amitrandive

Well-Known Member
#4
Since have started trading, I have started receiving innumerable marketing call from stock trading advisory firms. Also I am getting lot of spam emails.

I opened account with RKSV, demat with il&fs and registered on Nest terminal website. I dont know if any other intermediatories are involved.

Till now I never received any such calls and why now only I have started receiving such calls?! The obvious logic is that any one of these intermediatories is sharing client's data to such tele marketers. Also in spam email the name format is same as my name format in trading account.

God know what else they are sharing. Its good that atleast i have not given power of attorney so that broker doesnt know which stocks i have.

The professionalism in financial services firms has gone below than street prostitute..
I once asked a telemarketeer , from where he got info that I was trading.
He told me that their company has a CD with traders/investors database.Such database CD's are available in the market for a very cheap price.
 

ajeetsingh

Well-Known Member
#5
I once asked a telemarketer , from where he got info that I was trading.
He told me that their company has a CD with traders/investors database.Such database CD's are available in the market for a very cheap price.
Brokers, too compromise data with these telemarketers for a handsome amount.
I have 3 trading accounts with different brokers.
Among them, 1 is on name of my wife's pre-marriage name but contact number is mine.
I receive around 4-5 calls from indore and banglore per week (from tips provider) on that contact number mentioning same name as in trading account.
No where else my wife's name is associated with my contact number and thats too of pre-marriage
(as account was opened just after marriage and she dont have proofs with new name and address at that time).
This clearly indicates that particular broker has compromised my details with 3rd party.
When I called them then they said that they have strict data secure rules, moreover broker has good reputation in delhi.
All evidence shows that brokers never loose a chance to earn every extra buck.


.
 

TraderRavi

MM is the holy grail
#6
I too get emails/ phone calls from stock advisory firms (ladies callers) from indore and other brokers , wonder why a broker will share client details with other broker , since last few months getting regular emails and phone calls from religare to get disturbed at market time , from where (?)they got my email and phone no :annoyed:
 

Raghuveer

Well-Known Member
#7
Brokers, too compromise data with these telemarketers for a handsome amount.
I have 3 trading accounts with different brokers.
Among them, 1 is on name of my wife's pre-marriage name but contact number is mine.
I receive around 4-5 calls from indore and banglore per week (from tips provider) on that contact number mentioning same name as in trading account.
No where else my wife's name is associated with my contact number and thats too of pre-marriage
(as account was opened just after marriage and she dont have proofs with new name and address at that time).
This clearly indicates that particular broker has compromised my details with 3rd party.
When I called them then they said that they have strict data secure rules, moreover broker has good reputation in delhi.
All evidence shows that brokers never loose a chance to earn every extra buck.


.
This kind of broker must me named so that all are aware of it. Please mention name of broker.
 

mastermind007

Well-Known Member
#8
I don't get too many calls from brokers but I do get a lot of calls offering me loans and I tell the lady (why is it always a woman doing sales?)

My reply usually is "Since you have more money than your need, You can always give me surplus want but only as long as you will not ask me to return it. I will not sign on any paper in which I agree to return it".

... Sweetest phone hangs ever ...

Telemarketers are trained to retain control of the conversation and have few canned script lines to follow. Throw them off-track and caller will hang.
 

pkgmtnl

Well-Known Member
#9
I also do entertain them in similar manner. If I have time, I eat up their head as if I am interested, then back off at the end of conversation.
Inspite of best training they may have, I am always able to irritate them.

At end if require to extend fun use lousy and abusive language. Since they have called u up, they can not do anything except scratching their head.
Please do not call them up.
 
#10
brokers often hire employees who have existing database. poor telecallers why to make them pay for the brokers act. they are simply doing the job they are hired for. they are paid very low. thats the reason they are always ladies
 

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