I signed up with 401k exchange about 2 years ago. I paid $8000 for their appointment setting program where I would be introduced to the decision makers of a company. My objective was to get the appointment, discuss their 401k plan issues and provide a remedy via my services. I received many appointments initially but most, if not all, were bogus appointments where the responder set the appointment to get them to quit calling. I would go to the appointment and be told things that were contrary to the survey taken.in other words, the survey said that company ABC was dissatisfied with their 401k due to fees and service, then the company would tell me at the appointment that everything was fine and they have no idea why the appointment was set. 401k Exchange initially gave credits and reassigned callers for my area. But the quality of appointments stayed the same. Out of 20 scheduled appointments, maybe 8 did not cancel in advance. And of those 8, maybe 1 was a legitimate opportunity. I still had to pay at least $1000 per appointment for the others. When I brought this up to management, they kept blaming me even though I have documented conversations with plan sponsors that the appointment setter sounded desperate and misled them on the phone.
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