Monopolising referrals

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ArthurMcB

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It would be good to get your view please on some of the recent posts in this thread as it is a bone of contention, i assume not just for those who have posted recently, but I suspect for many. It feels a bit wrong and certainly not in the spirit of a forum offering free financial advice to people. Please can you review this and consider addressing it, when you have a chance.

A small number of posters are monopolising this thread and the opportunity to make money from offering referrals - to the extent that they may be earning significantly from it.

i propose a review of this with a view to establishing some ground rules and a fairer system for all users who may wish to offer referrals.

Thanks.
 
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I copied this in from another thread as I would like to highlight this issue with a seperate thread title. Thanks.
 
Are you suggesting that we should simply apply the ban on advertising and promotion to this to avoid these arguments?

Brendan
 
I don't pay any attention to this thread so it's not something I worry too much about.

I have referred it to the other moderators to see if they have been following it.

Brendan
 
No harm in opening a dialogue on this and to get different views. Its wrong, in my opinion, that 1 individual or maybe 2 are generating income from this in this manner i.e by somehow having an efficient system that allows them to hoover up all referrals before others even have a chance to.

I have no interest in playing the game and trying to be in there 1st but i dont like what i see and am calling it out and asking for it to be reviewed and opined on, in particular by you and the other Mods.
 
@ArthurMcB I'm not sure why you're saying here that you have no interest in playing the game and in the other thread that you're not trying to provide referrals as you have indeed done so in the past.

Is the problem here that youre feeling left out?

While I can't speak to the claim going on in the other thread that there are private messages being sent to warn people away, I don't see what the issue is that an authority has to be brought in to referee.

Why not give a referral and let the person know that you will be returning anything generated on your part to this forum?

Why not give a referral and let the person know you will split the proceeds with them?

Why not give a referral and privately donate to charity?

There's plenty of options that a creative mind can come up with here that doesn't involve trying to ban things.

And from the side of the people getting referrals, I'm sure they appreciate a prompt reply. This to them is indeed the reason they asked and to them I'm sure it is a useful thing being provided here?
 
Just reposting from the other thread.

In terms of contribution to this particular section of the forum @Lightning wins hands down in keeping us all up to date on rate changes. Maybe some of the sharks should be handing over their commission to him!

We all gain a bit of extra knowledge from reading AAM and should give a little back by sharing our own specific knowledge on topics otherwise the place will be far less than it is.

I too have gotten unsolicited DM's from one individual on here claiming he would get me a higher referral than anybody else. I politely declined his sharp advances as 3 others hand already sent me codes before him. Not happy to leave things at that he then offered me a referral for another provider completely unsolicited.

In terms of regulation of referrals maybe a list system is needed where once a referral is given that poster goes to the bottom of the list and cannot give a referral again until their turn comes around.

Just my two pence worth on things.
 
Harvard said:
Maybe some of the sharks should be handing over their commission to him
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Personally I dont think this woukd be correct either although it'd be better than current monopoly.

I dont have an issue with the fastest finger first concept and I do not have an issue with me getting none of the action. I do have an issue with the same 1 or 2 individuals swooping in each time leaving nothing for anyone else and from their monopolising of it. I am happy to preclude myself from getting referrals. As I said that doesnt bother me.

A simple limit on number of referrals one can seek is possibly the way to go.
 
Harvard said:
I too have gotten unsolicited DM's from one individual on here claiming he would get me a higher referral than anybody else. I politely declined his sharp advances as 3 others hand already sent me codes before him. Not happy to leave things at that he then offered me a referral for another provider completely unsolicited.
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I would like to see this kind of behaviour moderated. Surely it goes against the ethos of AAM.
 
ArthurMcB said:
by somehow having an efficient system
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Anyone can set up an alert for a specific thread with new posts notified by email. You can then set up a smartphone notification for the email and respond to the request via PM immediately.

It’s not how I would spend my life but I don’t see what the harm is if other people want to.
 
Dr Strangelove said:
Anyone can set up an alert for a specific thread with new posts notified by email. You can then set up a smartphone notification for the email and respond to the request via PM immediately.

It’s not how I would spend my life but I don’t see what the harm is if other people want to.
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Yes thats how I thought this was been done.

Not causing harm per se. Just doesnt seem right or fair to me that 1 or 2 dominates it.
 
Dr Strangelove said:
It’s not how I would spend my life but I don’t see what the harm is if other people want to.
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In principle I'd agree with you and it's great to have the referral thread as it keeps other threads clean and allows regular users the opportunity to make an occasional few bob. However on a forum where some very knowledgeable posters continuously and extensively give freely of their time and expertise, having someone join for the primary purpose of personal gain does rankle, especially when they appear to have little else to contribute. Almost 50% of their posts are in this thread (if you exclude the outburst of meaningless post count increasing banalities at 2am this morning). It's altogether different to see someone like @Lightning who spends so much time on the forum providing a valuable service getting some recompense.

Not sure what the solution is, perhaps a voluntary code setting a max on 1 referral per month and a strict instruction that all referrals must be noted in a public response on the thread. And if necessary, the mods should step in immediately in the case of unsolicited referrals or any similar unacceptable behaviour.
 
If there’s money being generated, then the all of the referrals should be going to Brendan, a designated Moderator, or a designated individual, and then all of the revenue should be used to support the website or a designated charity of Brendan’s/the Moderators’ choosing.
 
Gordon Gekko said:
If there’s money being generated, then the all of the referrals should be going to Brendan, a designated Moderator, or a designated individual, and then all of the revenue should be used to support the website or a designated charity of Brendan’s/the Moderators’ choosing.
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Any idea how much a referral would get ?
 
I’ve never received one, but the figures I’ve seen suggest €50 on average, through there has been mention of numbers as low as €10 and high as €200
 
Pinoy adventure said:
Same here.
Any other posters know how much of a referral fee is ?
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It will always vary. Trade republic are a tenner and you only get that if the person deposits a certain amount and makes a few trades in a specific time frame.

Raisin are 50 but you only get that after 6 months or something and the person has to deposit a certain amount.
Lightyear is a tenner as well. Can't remember if there are any hoops to jump through.
Bunq will plant a few trees for a referral which I thought we pretty funny.

I've given out some referrals here and to friends and family. They're nice to get and I like that trade republic gives them out as a fractional share because maybe that tenner will be worth something 20 years from now but the way people are going on you'd swear it was a money making machine. There have been a relatively high amount of trade republic referrals lately because they increased the rate to 4% but that will die down soon and it will go back to a trickle.

I do think it is a bit sneaky if people are promising higher referrals if you use their links and that should be stamped out if possible.
 
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