Browsing Category: "Financial Press Release"
Keeping Financial Woes Down Means Keeping that Guard up, says PMIdentity
Norwalk, Conn. () September 29, 2008 -- , a leading security and privacy membership program from ®, understands that potential financial problems are about par for the course these days. And beyond all the troubles on Wall Street, throughout the housing market, and across the entire business landscape, there are plenty of other ways to find money trouble.
Keeping Financial Woes Down Means Keeping that Guard up, says PMIdentity.com
As a case in point, take the world of financial advisors: Sure, there are plenty of legitimate, hard-working individuals out there who can help ease financial worry, but for every one of them, there may be many more tricksters, fourflushers, and con artists.
In fact, it's a sad reality that many people would rather make a living cheating others. That's why it pays to keep that financial guard up at all times. has put together a list of ways to keep those crooked financial types in check, so they don't make financial times any tougher than they already are.
-- Run a check on 'em. One of the biggest advantages modern technology affords us is overall access to information. With websites that can pinpoint everything from people's exact addresses to instant access to bank records and virtually everything in between, it's fairly easy to determine who's a legitimate financial advisor … and who's not. For example, to find the number of the securities administrator by state, consult a local telephone book -- or call the main office in Washington, DC, at (202) 737-0900.
-- Just say "no." Like most business-oriented opportunities, investment scenarios usually involve some risk. Just make sure those risks are worth the potential rewards. If an investor paints a picture that seems too good to be true, it probably is. When in doubt, say "no." (Financial advisors who promise the moon should automatically raise a red flag.)
-- Read, listen, and learn. Self-education on financial matters is key. If investment language reads a lot more like "Greek" than anything else, start brushing up on financial terms. After making an investment, go over the account statement(s) with a fine-tooth comb. And remember: A skilled financial cheat is always an opportunist. Don't fall asleep at the "financial wheel."
-- Make like Big Brother. Famous 20th-century author George Orwell made the term "Big Brother" a household name; Big Brother was sort of an "eye in the sky" of sorts in Orwell's foreboding masterpiece, 1984. Take the same approach when it comes to overall financial concerns and potential investment scenarios. Keep notes on all financial conversations and meetings, and keep detailed records on those doing the advising and calling the shots.
Take heed of these important watchwords: Financial advisors can come in all shapes and sizes, and not all of them paint clear financial pictures, reminds .
About PMIdentity.com
(SM) is a leading membership discount program offered by Adaptive Marketing LLC®. Headquartered in Norwalk, Conn., Adaptive Marketing is a category leader in membership programs, bringing value direct to consumers through an array of benefits in healthcare, discounts, security, personal property and personals. Members may access their benefits at . With broad online and offline distribution capabilities, Adaptive Marketing offers its corporate client partners effective tools to enhance market presence, strengthen customer affinity and generate additional value through programs such as Privacy Matters Identity.
"The stunning defeat of the Wall Street bailout package isn't just a financial crisis, it reveals an enormous credibility crisis in Washington D.C.," according to Victor Cheng, author of Bookmercial Marketing: Why Books Replaced Brochures in the Credibility Age
San Francisco, CA () September 30, 2008 -- "The stunning defeat of the Wall Street bailout package isn't just a financial crisis, it reveals an enormous in Washington D.C." according to Victor Cheng, author of
Victor Cheng, Inventor of the Bookmercial
Economists agree that doing nothing will lead to a serious recession. So everybody agrees, something must be done--but what?
The $700 billion rescue package was supported by top Democrats, top Republicans, the Treasury, the Fed, both Presidential candidates, and President Bush. In short, the entire political establishment was behind this one proposal. It seemed like a sure thing, but what did Americans voters say to that?
In a flood of phone calls, emails, and letters, in no uncertain terms, voters said to political leaders, "We Don't Trust You"
Bush has a 28% approval rating. Congress has a 18% approval rating.
The problem is this financial rescue package is complicated. Unfortunately, complicated problems often require similarly complicated solutions.
According to Cheng, if credibility and trust were high, the average American would be much more likely to say, "Okay, I don't understand this Wall Street thing entirely, nor do I understand this package, but you (Congress, the President) understand this stuff, we trust you, so if you say it's important, let's do it."
But, look what happens when credibility and trust doesn't exist.
Americans didn't just "take their word for it." They demanded an explanation, but didn't get a satisfactory one. One of the major communication challenges is the Wall Street problem and the corresponding solution, can't be explained effectively in a 15 second sound bite.
So what's the right approach?
According to Victor Cheng, the right approach to selling a complicated idea is to 1) provide a detailed explanation, and 2) use a credible and trusted spokesperson.
"The perception of the "bailout" is that it's a "bailout"-a way of taking the hard earned dollars of the average American to "bailout" a bunch of rich people on Wall Street.
The average American does not understand why the Wall Street chaos affects them on Main Street… and how the two are related. They don't understand because nobody has been able to clearly explain it to them," says Cheng.
Whose fault is it when the "customer" (in this case voters) don't buy? Well, it's always the marketers fault… in this case our political leaders.
Requirement #1: A Clear, Yet Detailed, Message
When explains the Wall Street situation, here's what he says,
"The US economy consists of a bunch of dominoes. When the first domino is tipped over, the 2nd, 3rd dominoes fall too.
In good times, this is beneficial. A few years ago, when housing prices were rising, everyone benefited - personal wealth increased, more loans were issued, consumer spending was strong, and more jobs were created. In short, the economy grew.
The same domino effect works in reverse too. When the first domino falls, in this case the collapse of real estate prices, it knocks down the 2nd, 3rd and 4th dominoes.
When housing prices collapsed, it wiped out the collateral that supported mortgages. This wiped out many retail banks. Of course the retail banks themselves borrow money from 'wholesale' banks that you find on Wall Street… so they got wiped out too.
So you can see how these dominoes fall one after another - like clockwork. The next domino in line to fall is you - the average American on Main Street."
He continues by saying, "When the Wall Street banks are on the verge of being wiped out, it's impossible to lend money they do not have to the Main Street banks that you do business with every day. If your local bank does not lend money to you, to your employer, to your employer's customers, this is a serious problem.
Imagine a world with no mortgages, no credit cards, no student loans, no business loans, no inventory loans, no car loans. In this worst case scenario, what would happen to your employer? To your job?
When consumers and businesses do not have access to credit, they do not spend. If they don't spend money with your employer, your employer can't pay salaries. And without money for salaries, there are no jobs."
He emphasizes, "The domino effect is how the U.S. economy works. Keep in mind that, you are the next domino in line. This rescue package is about ensuring the availability of loans to you, you employer, and you employer's customers."
"The average American does not care about something as abstract as 'stabilizing the financial markets'. What the heck does that mean?" says Cheng.
That's a "theoretical" problem. Most Americans do not feel comfortable spending $700 billion "real" dollars to solve a "theoretical" problem.
A clear message must show relevance to the audience and must explain to them what this means to them in their situation.
While President Bush did get on national television and attempted to explain how the Wall Street crisis impacts the average American, Cheng says, "President Bush's credibility is shot"
Requirement #2: A Credible Spokesperson
"With a 28% approval rating and a "sky is falling" (e.g., non-existent Weapons of Mass Destruction will be used to harm Americans) reputation, very few people believe him. So it did not matter what Bush said, because without credibility nobody pays attention.
This is why to sell any complex idea -- rescue package, product, or service -- you must combined credibility and a detailed explanation," says Cheng.
Unfortunately for Washington D.C., they are sorely lacking both.
is the author of and inventor of the an innovative way to use ghostwritten books to promote companies, products, and services while establishing credibility for its author.
Victor Cheng is a marketing expert and that has appeared on the Fox Business TV network, ABC Radio, CBS Radio, ESPN Radio, and has been quoted in The Wall Street Journal, Smart Money, Inc.com, AOL.com, TheStreet.com, Selling Power Magazine and DM News.
Consumers should look to save money on their insurance cover in the same way as they are revising their high street spending, insists one major online protection insurance specialist.
Braintree, Essex () September 30, 2008 -- Consumers should look to save money on their insurance cover in the same way as they are revising their high street spending, insists one major specialist.
Sara-Ann Burgess, MD Burgesses
Increasingly consumers have been seeking to save cash by switching their utilities provider or by reining back on spending on items such as new household appliances as the worldwide credit crunch filters through into Britain's real economy.
But few people have taken the step of examining their outlay on insurance premiums as a way of making real savings.
Sara-Ann Burgess is managing director of Burgesses.com. She said: "If people would only take the trouble to dig out their insurance policies and discover how much they are paying and then research what alternative products and providers can offer, then I am sure they can make savings of hundreds of pounds.
"That is because very often the most popular insurances have been sold at the time of major purchases - when taking out a loan or mortgage for a house, for example. Expensive (PPI) was then pushed to unsuspecting borrowers as a means of boosting the bottom line of major financial corporations.
"In the old 'buy now pay later' age, single premium PPI, as sold by lenders, was simply another commodity bought and paid for over a fixed period of time. It was, and is, far too easy to conceal the true cost of the policy within the overall loan or mortgage. Today consumers cannot afford to be so complacent and should look to cancel this type of insurance and replace it with a much cheaper regular monthly premium policy."
It is not uncommon for mortgage lenders to take in excess of 80% of a client's premium in commission and over-rider payments, meaning that their cut commonly runs into hundreds, if not thousands, of pounds and contributes massively to shareholder profits. When added together it equates to over £5 billion per annum.
"People need to understand that they don't have to buy PPI tied to their product and that they could find it cheaper by shopping around. They would then better understand the range of protection options available; helping them make a more considered and informed buying decision," Burgess added.
"Products have also become much more sophisticated, as well as offering better value for money. For example, the introduction of age-banded MPPI policies can benefit younger borrowers especially to the tune of hundreds, if not thousands of pounds over the lifetime of the policy.
"And anyone that does not currently have this kind of insurance should think about taking it out very quickly. There are already more people out of work now than at any time in the last decade, according to the latest Labour Force Survey. This picture is not going to change any time soon and people should act now to guard against the scourge of unemployment and the ghastly prospect of possibly losing their home."