Shelton Credit True Story
My name is being withheld because I am a new Shelton Credit broker and when I told Shelton Credit, Inc. Chairman Mark Shelton my story, he wanted me to log in and report it to all those listening.
About 4 years ago I was 27 years old and making about $600,000/year as a stock trader and part time real estate investor. Part of my job was to generate new stock sales business by marketing to prospects, just like I do now for the loan & credit business.
In 2004, I found a prospect that wanted to begin working with me and I had them sign the standard client/broker agreement which pledges security and privacy just like Shelton Credit paperwork. Within 6 months I was doing great things for this client. They invested $500,000 to start of which I received about 1% as the broker who opened the account. The rest was invested in the market.
At this 6 month mark the client’s $500K was almost $4,000,000. It was a Wednesday afternoon that my phone rang and the voice on the other end said, “I understand you’re working with Mr. X.” I replied yes. They then said, “He is a personal friend and referred me to you as I too have funds I’d like to invest.” I asked, how much? The caller said, “I have about $500,000 just like Mr. X started with.” I confirmed that’s how Mr. X started and was then asked, “Can you generate $1,000,000 in a short time for me like you did for Mr. X?” I bragged, $1,000,000? He’s made $4,000,000.
The caller hung up on me.
I wondered what that was all about. No caller ID record so I assumed he was disconnected and would call back. After about 7 months I of course forgot all about this call. That was until Mr. X called me.
Mr. X said he had been sued by the government for unpaid taxes and that I helped it to happen. I of course said I did no such thing. Then my boss walked in and played a tape for me with our firm’s lawyer.
Mr. X was sued for making these profits, didn’t pay taxes on some of this income as well as other income but guess who got in trouble? Not only was I fired after Mr. X sued our firm for $10,000,000 and WON, my firm sued me for the $10,000,000 plus fees and they WON. Why? I violated my own sales agreement to keep private client information private.
NEVER ask Shelton Credit, Inc. or their brokers to provide information or contacts for testimonials. If the word of mouth or literature a broker provides to you and a call or visit from a Shelton Credit corporate member is NOT enough for you to run a loan application or credit quote - YOU SHOULD GO SOMEWHERE ELSE.
We will NEVER (I know I won’t) betray a clients trust. The agreement is there to protect someone who is already working with us so why would anyone in our position take the chance to ruin a profitable relationship for a prospect who may never generate a profit?
Shelton Credit won’t and neither should you.
If you find a firm like ours that makes 100% of their income from word of mouth and referrals or through brokers that start as clients and then make it their living, I cannot think of a better referral than that.
I’ve done my part and you should do yours.
Tony B. (Las Vegas)
Tags: brokers, international loans, mark shelton, mark shelton credit, shelton credit
May 8, 2008 at 6:36 am
[...] Stock Market Investing News wrote an interesting post today onHere’s a quick excerpt My name is being withheld because I am a new Shelton Credit broker and when I told Shelton Credit, Inc. Chairman Mark Shelton my story, he wanted me to log in and report it to all those listening. About 4 years ago I was 27 years old and making about $600,000/year as a stock trader and part time real estate investor. Part of my job was to generate new stock sales business by marketing to prospects, just like I do now for the loan & credit business. In 2004, I found a prospect that wanted [...]