This is a discussion on Help needed for dodgy Montague Pitman admin fee within the General Trading Chat forums, part of the Reception category; Help needed! Montague Pitman Stockbrokers’ salesman tricked into buying some of their recommended AIM stocks some years ago. He assured …
Montague Pitman Stockbrokers’ salesman tricked into buying some of their recommended AIM stocks some years ago. He assured me there was no other fee other than their much bloated commission. Now the value of the stocks is less than 1/10 of the original cost and suddenly they sent me a letter asking for yearly admin fee I owe them last year!
I have recorded some of the other stocks they tried to sell me and all of them are very bad recommendations! They lost most of my money and could not get anymore from my pocket and now try to force me!
My questions are:
1. Their salesman called me and asked me to buy some share. I agreed but actually was thinking they would send me the contract by email or post to sign. If I don’t sign it, I don’t need to buy it so I would have a chance to think about it carefully without the salesman’s high pressure. But they sent me the “shares bought on behalf of you” contract note straight away and I had to pay!
Since I had no such experience before, I wonder if any one could tell me whether this kind of call-and-done sale is legal and common with other stock brokers/advisers?