Risk Assesment by Wealth Manager in Singapore Bank

[bharat9]

I had invested with Wealth Manager Consulatation of leading Singapore Bank. When investment was made in 2009 Risk Assesment terms and Service Agreement of the Bank was sent to me along with A/C opening forms. After that till 2015 no more Risk Assesment forms sent and I understand this has to be done perodically by bank. Investment was made in 2009/10 and 11 and maturity of these bonds were in 2012 and 13 which has been defaulted. Looking for gereral opinion about Risk Assesment not done and is there any grounds I can take any legal action against Bank or Wealth Manager as a person. Just to add in 2011Wealth Manager had a meeting with me in London asking for more investment but I said I will only after maturity of present bonds for which reply was it will be directly credited to my account on maturity (this is verbal conversation only) however since default had various email asking him some were answered others unaswered and he has left bank now.

Looking for opinion advice if any. Many Thanks.

[NeverSure]

Those guys cover themselves legally and the risk is yours. They get paid even if you lose money. I hope you didn't put too many eggs in one basket.

Cheers

[lj cm]

I can not help you, but thank you for the information.

I've been thinking about moving my "small" fortune to Singapore, but if a "leading Bank" can not be trusted then ?

PS! Why not contact the Bank directly?

[bharat9]

Thanks. I have taken some advice which points to Risk Assesment accepted when A/C was open in 2009. However I have been told that all banks are supposed to risk assesment on regular basis as well provide service agreement to clients. Its not yet clear how often this "Regular" basis is and if not done can that be Legal Point of Claim.

[luckizuchinni]

This really had nothing to do with Thailand, so the thread is being closed.