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Trade Programs: If deals aren’t acted on quickly enough, they disappear
Many have never seen real paperwork between prospective clients and trade groups because they get caught up in “The Broker World.”
We are direct to Platform Managers, Compliance Officers, Trade Principals, and Traders. All we need is a bank statement not more than three business days old.
Our prospective client sent this today:
With respect to the last deal you had presented, when you I and Vlad had the call with Sean all was good and you were inviting him for lunch. After I sent Greg the application and contact info on Sean most of the conversation was that he is a broker and possibly not real when in fact I know he is. On that call your partner brought up partnering with Sean and how it’s a blessing for other deals. Then you send me a contract that is vague at best. The deal you had said, if it takes till Monday to get things finalized is ok, then Greg calls me and says the deal is gone, with all due respect Richard I can’t help but ponder there is something else possibly going on here, I would hope not. I wonder what the outcome would have been if the first call with Sean did not take place. I appreciate the other offer, but there is no need to go any further on it. Good Luck, A
Remember this is Sunday August 29, 2010:
You have relayed numerous different stories to us through Gregory Botolino over the last 2-3 weeks… You were going to partner with someone and provide a POF account. Obviously that hasn’t happened. You were going to move forward with an SBLC; then you weren’t; then you mentioned moving forward with 2 – then none. I’m not intentionally pointing a “finger of blame” here, but it has been very difficult to put things together for you when you change your mind almost every other day as to how you’re going to move forward – if at all.
We engaged with a US seller and “busted his chops” to make things as easy as possible for you to move forward with a POF account. Your guy, Joe (I think), bailed on you. We sat on that contract for well over a week while waiting on you to figure out how you would move forward. An Australian investor showed up with cash in hand and took the allocation late Thursday… If deals aren’t acted on quickly enough, they disappear. We can absolutely secure another transaction (at this point) with the same seller under the same parameters, but you’re going to have to act quickly in order to make that happen. (And we’d most likely be looking at the first payout within 2-3 weeks, not 7-10 days; but if you lease the account for 30 days, that won’t really matter.)
Now, Sean: on the call you, Vlad, and I had with him Wednesday of this week, he blatantly referred to himself as the “provider.” “We have…” “I can…” “I’ve delivered…” Vlad took the conversation in a direction I would have avoided; but in hindsight, I think he (Vlad) made a smart move throwing some crazy stuff out there to monitor Sean’s reaction. When the truth came to light on Thursday that Sean is an intermediary to the provider, alarms started going off for all of us. As an intermediary to a seperate transaction, he is not entitled to any information regarding what we’re doing. He’s just not. So when someone who has already misprepresented himself to us all but demands we give him our entire “play book,” – I am going to recoil and simultaneously refuse. I’ve told you numerous times now that I don’t care for brokers. Greg is our platform manager,and because we know we can trust him. And that is extremely difficult to find in this industry…
Vlad and I ran an idea by Gregory yesterday afternoon… We know you don’t care for “Scott and John” and are extremely hesitant to move forward with an SBLC from a hedge fund rather than a depository bank. We know you’re petrified of making a bad decision and “throwing money” you can’t afford down the drain. So we decided to present you with an opportunity we feel comfortable sharing any and all information on. The opportunity is simply this: we’ll introduce you to a “Sean” we know and trust. His name is James, and we live 15 minutes from each other. His provider can issue HSBC, RBS, Credit Suisse, and other top tier paper (and we have verified and validated this on numerous occasions now.) You move forward with top tier paper – we share our Sales Purchase Agreement (SPA) with you and even introduce you to the seller of the gold. (I’ve never had a stockbroker or other financial advisor/professional volunteer to introduce me to his network, buyers & sellers, etc, and show me how he really makes money!)
Gregory and I have spent a lot of time over these last few weeks speaking with you. Vlad and I have spent a lot of time putting viable deals together for you. We know the “tight spot” you are in. Gregory knows better than I do how impossible it is for you to find the liquidity you need to stay afloat in the public sector. We’d like to help you out and do more than just buy you some additional time until you have to face the inevitable – because, quite frankly, we benefit as a result.
That being said, I believe you need to weigh your options carefully. Worst possible case scenario for you with the SBLC is this: our seller screws us – so we make no money. You, however, have a live instrument from a top 10 institution you can use in your own bank account to stave off the wolves for another 6 months or more, thereby spending $250K for $2,000,000 of actual value you get to enjoy.
We have several programs ranging from $5,000 to $100m+. When you’re ready call or write.