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jay santos · 08-01-2007, 06:48 PM

I see an old buddy that works for WMA or whatever it's called now, selling variable life or whatever their shitty product is. Retirement investments sold through a multi-level channel. Yeah, that sounds like a winner!

Anyway, 10 years ago when he first started selling this crap, he was young and stupid and when he gave me his pitch, I wrote him off as innocent and gullible but never questioned his morals or ethics.

Now he's rich off it--wealthy. I see him every now and then and last time I saw him, he gave me the same pitch. I thought he knew me better than that. "We've got a new product that just became available to regular investors. It beats S&P by 20% with a fraction of the risk." I almost laughed out loud. My next emotion was wanting to punch him in the gut.

So question...is my friend going to hell? He's no longer innocent; he knows exactly what he's doing--or is it possible he doesn't? Is there a reasonable explanation for what he does that doesn't paint him as a despicable predator?

08-01-2007, 06:48 PM	#1
jay santos Senior Member Join Date: Jan 2006 Posts: 6,177	Financial Industry Sales -- Ethics question I see an old buddy that works for WMA or whatever it's called now, selling variable life or whatever their shitty product is. Retirement investments sold through a multi-level channel. Yeah, that sounds like a winner! Anyway, 10 years ago when he first started selling this crap, he was young and stupid and when he gave me his pitch, I wrote him off as innocent and gullible but never questioned his morals or ethics. Now he's rich off it--wealthy. I see him every now and then and last time I saw him, he gave me the same pitch. I thought he knew me better than that. "We've got a new product that just became available to regular investors. It beats S&P by 20% with a fraction of the risk." I almost laughed out loud. My next emotion was wanting to punch him in the gut. So question...is my friend going to hell? He's no longer innocent; he knows exactly what he's doing--or is it possible he doesn't? Is there a reasonable explanation for what he does that doesn't paint him as a despicable predator?