Author Topic: Free Dinner at "Wealth Management" Seminars?  (Read 8704 times)

libertarian4321

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Free Dinner at "Wealth Management" Seminars?
« on: May 07, 2016, 07:12:10 AM »
Have you ever received any of those mailings for a Free Dinner at some expensive restaurant if you attended a wealth management seminar?

We went to one the other day at an expensive steak house and had a dinner that would have cost at least $100.  The subject matter was interesting.  The food was great.  We met some nice "millionaire next door" types like ourselves.  Great free entertainment.

Of course, we didn't buy any of what they were selling.

The question:  Is it wrong to do this again (with another company) given that there is about a 0.001% chance we will buy what they are selling?  We will surely get another offer soon.

Rezdent

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #1 on: May 07, 2016, 07:56:59 AM »
I don't think it is wrong - they are offering "bait" to get you to listen to their sales pitch.  If their pitch didn't work, that's feedback they can use too.

I wouldn't want to do it even for a free 100$ dinner, because restaurants+sales pitch isn't appealing to me.

ender

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #2 on: May 07, 2016, 08:02:17 AM »
In a way you are indirectly encouraging them to take more money from other people less knowledgeable than you?

iris lily

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #3 on: May 07, 2016, 09:34:34 AM »
We get a invited to those things  with some regularity,  although I doubt  that the tab is $100.

And then there were the social events put on by our bank. We attended only two, but they were nice. One featured a dinner at the Fox Theater here with a backstage tour of the place. i loved that! I adorethe Fox Theater building Itself, , it is spectacular. I am less enthusiastic about the performances there (typical all American bland musicals, some big name artists, etc) So that particular event was right up my alley.

Retire-Canada

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #4 on: May 07, 2016, 01:27:44 PM »
The question:  Is it wrong to do this again (with another company) given that there is about a 0.001% chance we will buy what they are selling?  We will surely get another offer soon.

Unless they specifically ask you if you are really interested in their product/service and will consider spending money with them I can't see why it would be "wrong".

I hate being marketed to and I am not so hard up I need a free meal so personally I wouldn't go, but if it floats your boat I won't hold it against you. :)

Davids

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #5 on: May 07, 2016, 02:22:34 PM »
I have had free invites before. My basis is if the place is within a 20 minute drive and is nice then I will do it. Nothing wrong with a free meal. I remember as a kid back in the day my parents going to time share presentations (never buying of course) but getting free stuff. One time I remember it was a free DVD player back when they just came out (which they still have) and I thought that was awesome.

Jim2001

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #6 on: May 07, 2016, 02:53:50 PM »
I don't see any issues.  For the hosts, it is a marketing expense and there is an expected "breakage", i.e. they know not everyone will buy. If you find it interesting, go and have a nice meal.

Syonyk

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #7 on: May 07, 2016, 04:09:08 PM »
I've gone to presentations for reduced price tickets on things we wanted to do.

The most entertaining was a "Timeshare credits" - not really a timeshare, but credits for resort type places.

After sorting out that my wife & I greatly prefer camping in the middle of nowhere, and fancy resorts in crowded places are the last places we'd go, he finally asked, "So why are you here?"

And was perfectly fine with, "We were told if we showed up we'd get reduced price Clipper tickets, and they never bothered to mention what the sales pitch was for." :)

Then our sailing had to come back early because of weather, so we got another set of reduced price tickets out of that.

Paul der Krake

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #8 on: May 07, 2016, 04:16:35 PM »
Do you have some insight as to how they targeted for such an invitation in the first place?

JoJo

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #9 on: May 09, 2016, 10:15:08 AM »
I went to one of these when I was visiting my parents.  I had to convince them not to buy an indexed annuity because they were sold.

Vagabond76

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #10 on: May 09, 2016, 10:34:30 AM »
In a way you are indirectly encouraging them to take more money from other people less knowledgeable than you?

Fuck'em all...the wealth management types and "those less knowledgeable than you." Just eat the free dinner.

CmFtns

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #11 on: May 09, 2016, 10:35:42 AM »
How does one get these invitations? Do they come in the mail?

I have never gotten one and don't really enjoy sales pitches but for a nice diner like that I might do it.

boarder42

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #12 on: May 09, 2016, 10:40:36 AM »
invitations phone calls etc.

i go everytime. 

jwright

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #13 on: May 09, 2016, 11:19:55 AM »
I consider them networking events; as a CPA it helps to know these types of people as we will often have clients in common.  I attend often.

Le Dérisoire

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #14 on: May 09, 2016, 12:49:04 PM »
In a way you are indirectly encouraging them to take more money from other people less knowledgeable than you?

Fuck'em all...the wealth management types and "those less knowledgeable than you." Just eat the free dinner.

That makes me think of a Margin Call quote where “wealth management types” speak about “normal people” :

"Listen, if you really wanna do this with your life, you have to believe you're necessary, and you are. People wanna live like this in their cars and big fuckin' houses they can't even pay for, then you're necessary. The only reason that they all get to continue living like kings is 'cause we got our fingers on the scales in their favor. I take my hand off and then the whole world gets really fuckin' fair really fuckin' quickly, and nobody actually wants that. They say they do, but they don't. They want what we have to give them but they also wanna  play innocent and pretend they have no idea where it came from. Well, thats more hypocrisy than I'm willing to swallow, so fuck em. Fuck normal people."

Playing with Fire UK

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #15 on: May 10, 2016, 11:45:21 AM »
In a way you are indirectly encouraging them to take more money from other people less knowledgeable than you?

In a way you are taking a seat away from a less knowledgeable person so are valiantly protecting them from the terror of the evil marketing people.

SomedayStache

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #16 on: May 10, 2016, 03:58:44 PM »
We keep getting these invites, but in small print at the bottom it states the target audience is 50 years and up.   I would love a free fancy dinner, but that small print keeps my 33 year old self and husband from going.

Doubleh

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Re: Free Dinner at "Wealth Management" Seminars?
« Reply #17 on: May 10, 2016, 04:13:54 PM »
In a way you are indirectly encouraging them to take more money from other people less knowledgeable than you?

In a way you are taking a seat away from a less knowledgeable person so are valiantly protecting them from the terror of the evil marketing people.

Exactly, and by increasing the mangers marketing cost by eating their food but not buying anything you're making their advertising less cost effective. You also get an awesome opportunity to work out your  badassity by experiencing high pressure sale tricks and turning them down.

Depending on how brazen you're feeling you could spread the gospel - this could be as subtle as helping the sweet old lady avoid signing up for an overpriced product, or as far as slipping a vanguard flyer to everyone in the room!