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Adviser left waiting for leads from generation firm


Velenski and Co director Ramon Lipton says he is still waiting for leads he paid for at the start of July from outsourcing firm CPM BPO.

Lipton says he arranged for CPM to provide four leads of people near Eastcote, where his firm is based, who were likely to require financial advice. He says he paid the firm £600 on 3 July for the leads, whchi he was told would take two weeks to deliver. 

Since then he has called and emailed the firm repeatedly but has received no response.  

He says: “Four leads was the minimum we could buy and it was supposed to be a test to see if they were any good. I have tried everything to get a response from the firm including telling them I am considering legal action but I just cannot get past reception.”

CPM describes itself as a “business process outsourcing” firm and its website claims its aim is “to become an extension of your company”.

CPM BPO refused to comment despite repeated requests from Money Marketing


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There are 7 comments at the moment, we would love to hear your opinion too.

  1. Whatever happened to networking and getting your own leads??

  2. A bit like Appointment Gen – run my Michael Browne. He did a runner with the money too..

  3. Dear PensionMan,

    do please tell us your ‘secrets of success’, I for one am buying.

    as to lead generation providers a large dose of cynicism is required IMHO. used them and found out a variance of success which at its best was 16.67% paying only for their service but not my time spent.

  4. Incompetent regulators 6th September 2013 at 2:03 pm

    Here is some free advice from an old hand. NEVER buy leads from a lead generating company. They NEVER deliver.

  5. But what has happened here is exactly in the spirit of RDR. One customer has approached a company and said can you do something for me, paid a fee upfornt and then has been told ‘actually no sorry we cant help’.

  6. Valenski and co sounds rather grand but hes just buying leads – financial advice has gone to the dogs.

  7. I’ve read a few reports from intermediaries who’ve had success with purchased leads but many more, in line with my own experiences, that they’re a waste of money.

    The only basis on which I’d consider using a leads generating firm would be if the first three or four were free so I could test the quality before parting with any money. Otherwise, you’ve no idea what you’re buying.

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