[Resolved]  Indiabulls Securities Ltd. — horrible investment advice

Address:

Pune, Maharashtra

this post is related to my experience with the Relationship Manager (Sangram Behera, [protected]@yahoo.com), Branch Manager (Mukesh Kumar), and Regional Manager (Dipak Singh, [protected]@yahoo.com) at Indiabulls Securities Ltd., Satara Road Branch, Pune.

this trio has been the worst financial advisors i've ever met.

i understand that ultimately the decision to follow advice given by my advisor lies in my hands, but obviously if a broker tells you that their recommendations have been doing great and you must follow it, you tend to fall for it. and i made the same mistake.

these guys repeatedly offered the wrong investment choices to me and whenever i asked them to trigger a stop-loss they discouraged me and said that i should wait for some time and the losses will be recovered. i think these people think that if i sell off my loss making positions and liquidate them, i will withdraw all my money from the account. and in fear of that they keep discouraging investors from letting off positions even if they are loss making.

it was not the first time i met some wrong decision makers at Indiabulls, i had come across Priyadarshi Sinha and Santosh Singh (RM and Branch Manager, both from Law college road branch, Pune) and they've been as hopeless and untrustworthy.

i don't understand that how such people become branch managers and relationship managers even when they don't understand investment basics such as capital protection and stop-losses.

i hope others don't fall in for Indiabulls and hence trying to reach out to as many as i can through this forum.