Mutual fun: Our Friday financial funnies

By Philip Porado | September 4, 2009 | Last updated on September 4, 2009
2 min read

You’re sending ’em, we’re running ’em. So keep the train rolling.

Here’s the best from this week’s crop of stories advisors across Canada shared with us about the funny side of the investments business.

Medical miracles

A Prairie advisor shares two tales. The first is from an insurance advisor who had a unique way of retaining policies.

Whenever a client applied for a large insurance policy, in the $1 million ballpark, the advisor would insist the client undergo a colonoscopy. His policyholders would seldom cancel their coverage because they didn’t want to repeat the test.

And, this one from his own client files. Two decades ago, his lawyer — and client — applied for a disability policy. She was in overall good health and weight but the insurance company used an odd phrase to make an exception in its underwriting for the client’s recent knee operation.

The clause in the contract literally read: “We will have to waive your knee.”

Paper training

An advisor who used to work for a mutual fund company got curious when the same older woman called every few weeks asking for 10 copies of the prospectus of a certain fund.

After the third call, he asked if she was a member of an investment club and why she had so much interest in this particular fund. The caller confessed she did not actually read the prospectuses but that they fit perfectly into the bottom of her bird cage.

“She added that she preferred our prospectuses to the other fund company that she had used in the past, since they started to print theirs on glossy paper,” the advisor quips.

It just proves what advisors have known all along: Client’s never actually read prospectuses.

Let’s hear from you

Have a funny anecdote? Send it in…the best ones will get published on Fridays.

Need more laughs?

Follow these links to previous week’s Mutual Fun columns:

August 28: Typographical Errors; Gender Bender; Clean Money; and Take Down

August 21: Diversity Dilemma; Suits You Fine; and Not Your Father’s Depression

August 14: Armed, Not Dangerous; and Disconnected


Philip Porado