I was called today by Target Research Marketing from 08 7922 7894 trying to recommend 3 stocks. They claimed they were from Darwin which sophisticated investors know is not in the top 50 financial centres of Australia*.

They claimed they got my number from a B2B directory. What? Anyway I was working and too busy to waste their time gathering information about them to post here. Interestingly, all he wanted to start was my email address to send me their recommendations.

I cut to the chase and asked for their website which was TargetResearchMarketing [dot] com and also GlobalResearchMarketing [dot] com. Both sites are functionally identical. Here’s a screenshot for Global Research Marketing to compare.

I requested their Australian Financial Services Licence, they originally stated they didn’t need one as the Senior Advisor held the licence, and they would provide it when they gave the advice.

Correcting him that his firm needed to be licensed to cold call me about Financial Services, he tried to deflect that he was just the marketing arm and they didn’t need it.

Huh? No, that is not the case in Australia, which they’d know if they had an office in Darwin. While explaining that I wanted his AFS licence he hung up, which was the final proof of the scam. Real financial services marketers don’t just hang up, they are trained to exit gracefully and leave a good impression.

It looks like another bucket shop, but may have actually been a trading education scam. I’ll update if an when they call back.

*Top 50 Financial Centres in Australia? That’s a joke folks, as OzTAM, our TV ratings system only tracks 5 metro markets. Sydney, Melbourne, Brisbane/Gold Coast, Adelaide and Perth. That’s doesn’t even cover the nation’s capital (Canberra) or the capitals of Tasmania (Hobart) and Northern Territory (Darwin). Despite Australia’s size, out population is nearly 26 million to 30 June 2021