Ethics

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Published : June 06th, 2012
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Category : Market Analysis

 

 

 

 

Success in business – and life – depends on numerous factors. Social skills, intelligence, and ingenuity to name a few – particularly given today’s DISMAL global economy and DETERIORATING social fabric. At 41, I’m far from “old,” but I’ve certainly observed enough – after 20 years on Wall Street – to have a good idea what it takes. All the above are important, but above all, one such trait stands alone – ETHICS!


I have long written of my quest for the “good, smart people” – not just in business, but all aspects of life. Such people are few and far between, so when I find them, I cling for dear life. “Good, smart people” do what they say, and do so in a manner that NEVER injures anyone, with an overarching goal of HELPING all they come in contact with. In the latter stages of my career, I’ve been lucky enough to come across such souls at Torrey Hills Capital (http://www.babybulls.com/index.cfm/event/page.about) and Miles Franklin, where I have been the firm’s Marketing Director for the past seven months.


Many factors have contributed to building my following, but the most important – BY FAR – is ETHICS. I have NEVER lied about my intentions or beliefs – even when asked to do so – and certainly not now, when my career goal is as much about PROTECTING people as selling coins. When I became disenchanted with Salomon Smith Barney’s conflicts of interest, I left Wall Street, just as when I decided mining stocks were not an effective way of PROTECTING oneself, I left Torrey Hills. At Miles Franklin, my job is to educate of the dangers of financial markets and the merits of Precious Metals, which the principals at Miles Franklin – myself included – back up personally, by holding nearly their entire net worth in kind.


Buying bullion is easy, but can be very dangerous if not done properly. As an unregulated industry, there are hundreds of CRIMINALS looking to exploit you and steal your money – either outright or via the sale of low value-added products. I have observed many such schemes personally – including one of the largest eBay bullion sellers turning out to be a Ponzi Scheme – and anticipate many more as the public finally wakes up to the virtues of REAL MONEY. That is why I am so proud to be working with Miles Franklin – not only one of the largest bullion dealers in the States, but hands down the most ethical.


We are a family business – founded 22 years ago by David Schectman and his son Andy. Based in Minneapolis, Minnesota, the firm’s brokers average 18 years of PM selling experience, with each having a deep connection to the firm’s principals. Long-time colleagues of David, and childhood friends of Andy – all living in Minneapolis except for myself, here in Denver. This is a tight knit group, closely bound by the deep commitment to customer service of its founders. David Schectman is one of the most honorable people I have met, and Andy Schectman has inherited his father’s best traits. I consider the Miles Franklin team my family, which is how you, too, will feel after having dealt with us.


In the entire bullion industry, no firm has a larger commitment to customer education, reflecting one of the greatest mottos of all time – Syms’ iconic “an educated consumer is our best customer.” We don’t PUSH product or MISLEAD customers into believing inventory is immediately available if it is not, and are price competitive in nearly all aspects. I truly believe our International Precious Metals Storage Program in Montreal is the industry’s finest. In our opinion, without a doubt, it is the best value.


As the PHYSICAL PM bull market expands in the coming months and years – particularly after gold and silver break to new highs, prompting a demand EXPLOSION and supply SHORTAGES – the single most important factor in bullion buying will become the INTEGRITY of your dealer. The amount of PM scams will multiply as rapidly as gold and silver prices, so you must make sure you do your due diligence before entering the fray. Remember, the bullion business is unregulated, and thus ripe for criminal activity.


Miles Franklin has the Better Business Bureau’s top rating, A+, and has NEVER had a material customer complaint in 22 years. We achieved our reputation through decades of superior customer service – but ultimately, the ETHICS of its employees.


PROTECT YOURSELF, and do it NOW!



 

 



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Andrew Hoffman was a buy-side and sell-side analyst in the United States (including six years as an II-ranked oilfield service analyst at Salomon Smith Barney), but since 2002 his focus has been entirely in the metals markets, principally gold and silver. He recently worked as a consultant to junior mining companies, head of Corporate Development, and VP of Investor Relations for different mining ventures, and is now the Director of Marketing for Miles Franklin, a U.S.-based bullion dealer.
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