Edwardsville business under scrutiny
Better Business Bureau received several complaints
Prestige Management, located at 2 Club Center Court, provides lead lists to financial companies and individuals.
According to a statement by the Eastern Missouri and Southern Illinois Division of the BBB, there have been several complaints about the company. The BBB also stated that the firm had failed to respond to most of the complaints.According to its Website, Prestige Management obtains information through telemarketing, mass mailings, and other sources, then sells "lead lists" to individuals who work in the financial field.
The BBB alleged said that when list purchasers telephoned potential leads, many times they were met with hostility by people claiming they never filled out a survey or wanted financial assistance.
Prestige owner and Chief Executive Officer Matt Aylward said he was unaware of the complaints and expressed frustration toward the BBB for not informing him of the consumers' dissatisfaction prior to a press release being issued.
"On (last) Tuesday we just got the nine they said we haven't responded to, and we're responding to them right now. Out of 16,000 (clients) we had 22 complaints," he said.
"It's just kind of ridiculous they didn't pick up the phone and call me. It shocked me because we put out a very good product and we work hard to take care of each and every one of our customers," Aylward said.
Scott Thomas from the Better Business Bureau disputes claims that Aylward never received documentation regarding the complaints.
"We send at least three letters for each complaint, if not more. They knew in October that they had 12 complaints, 10 of which were received in the last eight months," Thomas said.
He added that for each complaint, the Better Business Bureau sends a first letter stating a grievance has been made, and asks the company to respond. If the firm does not respond, a second letter is sent stating their failure to address the first correspondence.
Two phone calls are also made in an attempt to reach the business, and finally, a third letter is sent indicating the company will be placed in the BBB's newsletter as a company that has not complied with the bureau's requests.
Thomas said this is standard procedure for the first no-response activity. After that, the BBB simply sends out three letters.
The BBB press release stated, "During the last 36 months, there were 24 complaints and reports against the firm, with 19 of them received in the last year."
Thomas said, according to a survey he believes was conducted by the Federal Trade Commission, only six percent of unsatisfied consumers will actually report it to the BBB.
"Obviously it (the percentage) would vary in any company, but the likelihood that there are many more dissatisfied customers out there is great," he said.
The BBB's written statement included examples of problems allegedly experienced with the company.
"A Janesville, Wis., man said he paid $225 for leads for people who had filled out a survey and indicated they had retired or changed jobs in the last 90 days, and would like to be contacted by a financial advisor'" according to the statement.
"However, once he began calling people on the list, he said he, 'received very negative feedback and that most indicated they never filled out a survey requesting this service.'
"The man said he requested a copy of the survey from Prestige, but one was not provided and that subsequent calls and e-mails have not been returned."
One businessman who had bought a list from the company said something "just didn't seem right."
"There wasn't any sort of data to suggest at the time their list wasn't what it claimed, and there was no way to know. We bought it from a firm that was really, you know, not doing what they said it was doing," said the businessman, who asked to remain anonymous.
The man said he purchased the list on a fluke.
"I think that in my particular case it cost $300. It wasn't the money -- I actually got refunded and my credit card reimbursed me. When I called a bunch of people and they were saying 'I never asked to be called,'" it raised suspicion.
"I wouldn't have known if I'd sent letters. I probably would've gotten the standard one percent response rate. All they're running is a telemarketing shop that's cold calling financials advisors all over the country.
"You'll never know unless you talk to people and that's what they're banking on," the man said.
Aylward contends that although the allegations are unfair, the company is working to remedy the situation.
"It's a misunderstanding, but we're working to take of it. We're replying back to every response, every question that was asked -- we've got good notes on everything.
"Out of the 16,000 we've sold, we've had 22 or 23 that weren't happy. It's not the easiest number, but we'll take care of it," he said.
Aylward said he started the company six years ago with just countertops and rented phones. He said it has grown to 45 employees and thousands of satisfied, repeat clients.
Thomas stated he handed Prestige Management file over to the Illinois Attorney General's office.
The BBB suggests that businesspeople interested in purchasing such lists should make sure they know the company's refund policy, where the firm obtains its leads, and that they speak to another person who has used, or does use, the business's services.
