- Report: #708738
Complaint Review: Kevin DeMerritt and Marin Aleksov Merit Financial Services - Santa Monica California
Reported By:
A Life Destroyed -
San Francisco, California, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Kevin DeMerritt and Marin Aleksov Merit Financial Services
1300 Fourth St. #303 Santa Monica, 90401 California, United States of America
Phone:
310-401-1011
Web:
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Lear Financial CUSTOMER SATISFACTION COMMITMENT: Lear Financial is committed to customer satisfaction and constantly seeks ways to further improve its high-quality customer service. We are committed to helping our clients successfully diversify their portfolios, protect their savings and retirement income, and guard against risk through timely investments in gold, silver, platinum and other precious metals. Coast to coast. *UPDATE: Recognized by Rip-off Report Corporate Advocacy Program as a safe business service Lear Financial pledges to always resolve any issues. Feel safe, confident and secure when doing business with Lear Capital.
Rip-off Report REVIEW:
Editors UPDATE: Positive rating and recognition has been given to Lear Financial for its commitment to excellence in customer service.
Ripoff Reports discussions with Lear Financial have assured us that Lear Financial has made customer satisfaction a core principle and that Lear is constantly seeking ways to improve its already high standard of customer care. This means that Lear Financial will provide accurate, timely and courteous information to its clientele and that Lear staff will work quickly to satisfactorily resolve any client questions or concerns.
It also means that Lear is committed to learning from its customers through regular, voluntary follow-up calls and conversations. This feedback helps Lears customer care team to correct any mistakes and to ensure an even higher standard of customer service in the future.
Rip-Off Reports was pleased to learn that Lear Financials president, Kevin DeMeritt, deliberately focused on excellent customer service as a business hallmark in order to make Lear stand out from other gold and precious metals investing firms. Indeed, great customer service is what DeMeritt terms the Lear Advantage.
As an investment industry leader, Mr. DeMeritt understands that Lear clients investments are precious and that Lear has a responsibility to meet the highest standards of transparency, integrity and customer assurance. Lears goal is to establish a long-term relationship with its clients and understands that it can only do so by providing them with the best and most timely information and guidance.
A top executive at Lear Ripoff Report that Mr. DeMeritt is an innovator constantly looking for ways to provide added value to his customers. Kevin understands that the world is changing and that investors needs change just as fast. He strives to provide clients with real-time answers to real-time questions about precious metals investing. His goal is to provide the best and most responsive customer service in the industry, whether through knowledgeable and friendly customer care representatives, or through constantly-updated information on Lears full-service website. Kevins philosophy is: Never make a customer wait, never make a customer wonder.
Lear Financials customer care team notes that the expertise of Lears senior management gives Lear clients confidence. DeMeritt, predicted the market crash of 2001 on national radio and the ensuing strength of gold as an investment. He has steered Lear to a position as one of the most prominent precious metals investing companies in America, with frequent endorsements from a range of media leaders, including the Rush Limbaugh Show, Michael Medved, Dennis Prager, George Noory, Laura Ingraham, Mike Gallagher, Oliver North, Noah Hutchings, the late Marlin Maddoux and many others.
More importantly, DeMeritt and his team have helped thousands of investors protect their savings and retirement through the well-timed purchase of precious metals. As a result, Lear clients report high customer satisfaction.
Lear Financial recognizes that complaints posted on Rip-off Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation Lear Financial has instituted systematic changes to ensure that problems are resolved quickly and quality standards remain high.
In summary, after our investigation, which included discussions with Mr. DeMeritt and many of his past and current associates, Rip-off Report is convinced that Lear Financial is committed to delivering high quality services resulting in total client satisfaction.
Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.
Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
SPECIAL NOTE ABOUT MOST OF THE REPORTS FILED ABOUT LEAR CAPITAL:
As a matter of policy, when a business becomes a member of the Corporate Advocacy Business Remediation and Customer Satisfaction Program they agree to allow Ripoff Report to contact every person who filed a complaint so they can make things right with them. In order to confirm that each and every complaint was resolved, Ripoff Report emailed the author of all the reports about Lear Financial.. Fortunately, the posting of false reports is not the norm, .. ..Sadly in this case, most of the reports posted about Lear were filed by the same person., and the Reports that were not posted by the same person all looked suspicious.. Ripoff Report has the evidence. Ripoff Report waited more than 2 weeks to post this UPDATE. As of today, Ripoff Report has not heard back from one person regarding any Report about Lear Financial.
It is the opinion of Ripoff Report, because the Precious Metals industry is so competitive, that it is more than likely unscrupulous cut-throat competitors posted the reports about Lear. Executives at Lear admit to Ripoff Report they are not perfect, as no company or individual ever is, but, the people at Lear have made a commitment to do their best to always do right and what is fair by their customers. If any of our readers feels a member of the Corporate Advocacy Program did not do right by them, to please contact us here at Ripoff Report. [email protected]
=====================
NOW TO THE ORIGINAL REPORT THAT WAS FILED
=====================
Kevin DeMerritt and Marin Aleksov former employees of Merit Financial Services Lear Financial, Corrupt thieves , Unethical business practices; scammers; Churn, Churn, Churn Santa Monica, California
MARIN ALEKSOV and KEVIN DeMERRITT former employees of Merit Financial Services, Santa Monica California
Since I am approaching retirement, I decided to research my coin investment in preparation of planning for my future. To my shock and horror; I discovered that I had been ripped off twice by employees of Merit Financial Services, 1300 4th St. #303, Santa Monica, CA 90401. The first scam that I was a victim of was by Kevin DeMerritt, now owner of Lear Financial; who I have just found out, here at RippoffReports.com that he has many complaints against him and that he is a very nasty person. He was sued by a Class Action suit a few years ago, for ripping people off and paid the settlement.
Not a nice guy. Please do not ever buy gold coins or do any other business with him or with Marin Aleksov who is now with Rosland Capital. Both these people lack any kind of integrity !
As I have since learned they both practice the art of "Churning" which is "highly unethical and any salesman that "recommends" turning coins over to better reposition them for a "supposed" higher earning power is only a way for them to make money off of you, and is certainly not in your best interest." I feel so violated and totally devastated by the thought that they have destroyed my life by misleading me through intentionally persuading me to trade in coins for others "at a much better return." In other words I was CHEATED! This is their scam.
The worse part is that I really believed them as I am a trusting person. I thought they were brokers and were telling me the truth. I did not know they are just salesmen, not certified; nor, are they suppose to give investment advice let alone persuade you into exchanging your coins at grave losses.
I asked Marin Aleksov what my 12 St. Gaudens were worth; when he got back to me he told me they were $880. each. Although I had paid $1700. each at a total cost of $19,250. seven years previously, from former employee Kevin DeMerritt. I wondered why the value had dropped so much. Unknown to me, when I paid $1700. they were valued around $700.00. A loss of $12,000. The cost of the Morgans I bought were $4110.
He went on to explain to me that RARE coins are more valuable and would be far more profitable in the long run. He persuaded me to trade my Saints and Morgans for these beautiful high value, 5 RARE coins", one costing $3,172 another $2,256. for a total of $10,383. A loss of $ 12,977..
During my research just last month, a Gold Dealer told me in an email, that these RARE coins would have been valued at $8,000. at that time. This resulted in a $2,400. loss. The Gold Dealer also told me that when I traded my Saints for $880. they were valued at $1800. Another $12,000. loss....Pretty high markups don't you think ?
You devoured my total investment in one buy/back trade. This is criminal.
How do you people sleep at night; Are you proud of what you do to innocent people? You have destroyed my future and that of my family. This was an inheritance when my father died. How do you feel about that? Believe me this will follow you.
Today in real time, my Saint Gaudens and Morgans would be valued at $64,950.
My "beautiful" RARE coins today,Gold @ $1400.+ Marin, are only worth $13,660.
Because of Marin Aleksov and Kevin DeMerritt's deceptive and unethical business practices, I have lost $51,290. + on a 13 year Gold investment when gold was $419. oz. My 53 Gold Eagles would be worth $74,200 if Kevin DeMerritt hadn't ripped me off on those! Churn, churn, lie, lie. He made $4,257. plus another $10,000. on my Saints.
As far as Merit Financial Services is concerned, do not do business with these people either. They are still actively involved in unethical business practices such as this and they do not stand behind fair practices.
It is my opinion fellas, that you have no right being in this business as you would rather swindle people than be honest and upstanding as you claim to be. I believe you have intentionally taken advantage by cheating me and therefore lack any integrity.
Marin also never gave me a buy back report; I called him for 6 months before he sent it to me. The prices he quoted were different, he forgot 5 of my coins and although told me he would auction my 1898 Barber Quarter; I never heard from him again.
I BET YOU DON'T REMEMBER ME, MARIN, DO YOU??? How about you KEVIN,
Remember me? I was your BFF, you called me once a week to see how I was doing?
I HOPE YOUR PAST COMES BACK TO HAUNT YOU.
****My notes show I contacted Jeannie Himenez Santa Monica DA Office with no regard from her.
Editors UPDATE: Positive rating and recognition has been given to Lear Financial for its commitment to excellence in customer service.
Ripoff Reports discussions with Lear Financial have assured us that Lear Financial has made customer satisfaction a core principle and that Lear is constantly seeking ways to improve its already high standard of customer care. This means that Lear Financial will provide accurate, timely and courteous information to its clientele and that Lear staff will work quickly to satisfactorily resolve any client questions or concerns.
It also means that Lear is committed to learning from its customers through regular, voluntary follow-up calls and conversations. This feedback helps Lears customer care team to correct any mistakes and to ensure an even higher standard of customer service in the future.
Rip-Off Reports was pleased to learn that Lear Financials president, Kevin DeMeritt, deliberately focused on excellent customer service as a business hallmark in order to make Lear stand out from other gold and precious metals investing firms. Indeed, great customer service is what DeMeritt terms the Lear Advantage.
As an investment industry leader, Mr. DeMeritt understands that Lear clients investments are precious and that Lear has a responsibility to meet the highest standards of transparency, integrity and customer assurance. Lears goal is to establish a long-term relationship with its clients and understands that it can only do so by providing them with the best and most timely information and guidance.
A top executive at Lear Ripoff Report that Mr. DeMeritt is an innovator constantly looking for ways to provide added value to his customers. Kevin understands that the world is changing and that investors needs change just as fast. He strives to provide clients with real-time answers to real-time questions about precious metals investing. His goal is to provide the best and most responsive customer service in the industry, whether through knowledgeable and friendly customer care representatives, or through constantly-updated information on Lears full-service website. Kevins philosophy is: Never make a customer wait, never make a customer wonder.
Lear Financials customer care team notes that the expertise of Lears senior management gives Lear clients confidence. DeMeritt, predicted the market crash of 2001 on national radio and the ensuing strength of gold as an investment. He has steered Lear to a position as one of the most prominent precious metals investing companies in America, with frequent endorsements from a range of media leaders, including the Rush Limbaugh Show, Michael Medved, Dennis Prager, George Noory, Laura Ingraham, Mike Gallagher, Oliver North, Noah Hutchings, the late Marlin Maddoux and many others.
More importantly, DeMeritt and his team have helped thousands of investors protect their savings and retirement through the well-timed purchase of precious metals. As a result, Lear clients report high customer satisfaction.
Lear Financial recognizes that complaints posted on Rip-off Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation Lear Financial has instituted systematic changes to ensure that problems are resolved quickly and quality standards remain high.
In summary, after our investigation, which included discussions with Mr. DeMeritt and many of his past and current associates, Rip-off Report is convinced that Lear Financial is committed to delivering high quality services resulting in total client satisfaction.
Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.
Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
SPECIAL NOTE ABOUT MOST OF THE REPORTS FILED ABOUT LEAR CAPITAL:
As a matter of policy, when a business becomes a member of the Corporate Advocacy Business Remediation and Customer Satisfaction Program they agree to allow Ripoff Report to contact every person who filed a complaint so they can make things right with them. In order to confirm that each and every complaint was resolved, Ripoff Report emailed the author of all the reports about Lear Financial.. Fortunately, the posting of false reports is not the norm, .. ..Sadly in this case, most of the reports posted about Lear were filed by the same person., and the Reports that were not posted by the same person all looked suspicious.. Ripoff Report has the evidence. Ripoff Report waited more than 2 weeks to post this UPDATE. As of today, Ripoff Report has not heard back from one person regarding any Report about Lear Financial.
It is the opinion of Ripoff Report, because the Precious Metals industry is so competitive, that it is more than likely unscrupulous cut-throat competitors posted the reports about Lear. Executives at Lear admit to Ripoff Report they are not perfect, as no company or individual ever is, but, the people at Lear have made a commitment to do their best to always do right and what is fair by their customers. If any of our readers feels a member of the Corporate Advocacy Program did not do right by them, to please contact us here at Ripoff Report. [email protected]
=====================
NOW TO THE ORIGINAL REPORT THAT WAS FILED
=====================
Kevin DeMerritt and Marin Aleksov former employees of Merit Financial Services Lear Financial, Corrupt thieves , Unethical business practices; scammers; Churn, Churn, Churn Santa Monica, California
MARIN ALEKSOV and KEVIN DeMERRITT former employees of Merit Financial Services, Santa Monica California
Since I am approaching retirement, I decided to research my coin investment in preparation of planning for my future. To my shock and horror; I discovered that I had been ripped off twice by employees of Merit Financial Services, 1300 4th St. #303, Santa Monica, CA 90401. The first scam that I was a victim of was by Kevin DeMerritt, now owner of Lear Financial; who I have just found out, here at RippoffReports.com that he has many complaints against him and that he is a very nasty person. He was sued by a Class Action suit a few years ago, for ripping people off and paid the settlement.
Not a nice guy. Please do not ever buy gold coins or do any other business with him or with Marin Aleksov who is now with Rosland Capital. Both these people lack any kind of integrity !
As I have since learned they both practice the art of "Churning" which is "highly unethical and any salesman that "recommends" turning coins over to better reposition them for a "supposed" higher earning power is only a way for them to make money off of you, and is certainly not in your best interest." I feel so violated and totally devastated by the thought that they have destroyed my life by misleading me through intentionally persuading me to trade in coins for others "at a much better return." In other words I was CHEATED! This is their scam.
The worse part is that I really believed them as I am a trusting person. I thought they were brokers and were telling me the truth. I did not know they are just salesmen, not certified; nor, are they suppose to give investment advice let alone persuade you into exchanging your coins at grave losses.
I asked Marin Aleksov what my 12 St. Gaudens were worth; when he got back to me he told me they were $880. each. Although I had paid $1700. each at a total cost of $19,250. seven years previously, from former employee Kevin DeMerritt. I wondered why the value had dropped so much. Unknown to me, when I paid $1700. they were valued around $700.00. A loss of $12,000. The cost of the Morgans I bought were $4110.
He went on to explain to me that RARE coins are more valuable and would be far more profitable in the long run. He persuaded me to trade my Saints and Morgans for these beautiful high value, 5 RARE coins", one costing $3,172 another $2,256. for a total of $10,383. A loss of $ 12,977..
During my research just last month, a Gold Dealer told me in an email, that these RARE coins would have been valued at $8,000. at that time. This resulted in a $2,400. loss. The Gold Dealer also told me that when I traded my Saints for $880. they were valued at $1800. Another $12,000. loss....Pretty high markups don't you think ?
You devoured my total investment in one buy/back trade. This is criminal.
How do you people sleep at night; Are you proud of what you do to innocent people? You have destroyed my future and that of my family. This was an inheritance when my father died. How do you feel about that? Believe me this will follow you.
Today in real time, my Saint Gaudens and Morgans would be valued at $64,950.
My "beautiful" RARE coins today,Gold @ $1400.+ Marin, are only worth $13,660.
Because of Marin Aleksov and Kevin DeMerritt's deceptive and unethical business practices, I have lost $51,290. + on a 13 year Gold investment when gold was $419. oz. My 53 Gold Eagles would be worth $74,200 if Kevin DeMerritt hadn't ripped me off on those! Churn, churn, lie, lie. He made $4,257. plus another $10,000. on my Saints.
As far as Merit Financial Services is concerned, do not do business with these people either. They are still actively involved in unethical business practices such as this and they do not stand behind fair practices.
It is my opinion fellas, that you have no right being in this business as you would rather swindle people than be honest and upstanding as you claim to be. I believe you have intentionally taken advantage by cheating me and therefore lack any integrity.
Marin also never gave me a buy back report; I called him for 6 months before he sent it to me. The prices he quoted were different, he forgot 5 of my coins and although told me he would auction my 1898 Barber Quarter; I never heard from him again.
I BET YOU DON'T REMEMBER ME, MARIN, DO YOU??? How about you KEVIN,
Remember me? I was your BFF, you called me once a week to see how I was doing?
I HOPE YOUR PAST COMES BACK TO HAUNT YOU.
****My notes show I contacted Jeannie Himenez Santa Monica DA Office with no regard from her.
1 Updates & Rebuttals
Anonymous
Long Beach,California,
United States of America
There is hope
#2Consumer Suggestion
Thu, May 12, 2011
Hi. I was really moved by your report. I was moved because I, too, was scammed by not one, but TWO gold companies. They pulled the same thing on me, taking my OK coins and trading them in with high commission numismatic coins that did very poorly years later...costing me tens of thousands of dollars.
It was a horrible shock and one of the worst things to happen to me ever. So I understand.
I am not writing to share sorrow...but help. I AM getting some redress. Not all but a significant amount. I am using Ed's Rip Off Revenge book on doing it. You can, too. It takes focus, preserverance, some courage and a plan but you can do it. Often the only thing you can do to get fairness is to tell your story to the world. Not just here but everywhere. Read the book and take the steps.
I know. I know how this feels. I was in a place of darkness for half a year unable to move. I make a modest income, what I lost was huge. But I am telling you, doing something for yourself about it, making your BEST effort, following the steps in Rip Off Revenge will not only may get a significant amount of your money back, but help you heal. But you must be sincere and convince them you are courageous, energized, focused and will follow thru. It is THEN they will listen. You must be the answer to your own prayers.
I would also add social media marketing. Not only using your Rip Off Report, but you can create a blog, then market it it on all the articles/blogs you see on gold coin investing, Lear, and other gold companies. The object is to tell, tell, tell the story. It's not hard, really, once you get the hang of it. Do you think they want this story of their terrible service to you to get out? NO! Because it makes them look bad. So buy the Rip off Revenge and make a plan. What have you got to lose? We must stand up for ourselves. We must try in this era of deceitfulness and lies. I promise you, you will feel better. Once you start you'll feel better and better. Expressing yourself and DOING something does wonders. Ed is right, even picketing is fun when you are redressing injustice. Seriously!
You can reach me at my blog "mygoldlinedisaster" if you want to talk further.
