INVESTools

If I had the ability to clone myself, I would start a new blog that focuses on one thing: reviewing trading tools, software, and stock screen websites for others. Unfortunately, I've yet to discover a website that takes a "consumer reports" approach to evaluating the offerings available to traders/investors and, if I had more time, I would do it myself.

The truth is that I don't usually try new tools very often. First, I have a nice set of tools at my fingertips already and, second, I don't believe that any tool will make you a more successful trader. That said, there are so many offerings out there that it would be nice to see someone else take time review them properly without any bias.

As you know, some of the trading magazines attempt to do this already, but I have to admit that finding a negative review is like finding a needle in a haystack in those publications. That can't be since I know I've come across software that I wouldn't recommend or feel it was worth the price. In addition, I'm always suspicious of publications which review software, tools and websites and then I later see ads in the publication for those same services. I know sometimes this is only coincidental, but when you see the combination of a very positive review and advertisements in that same publication, you do have to wonder whether the positive review was legitimate.

I digress along this road because I'd like to share one experience I recently had with a company in the news today. Over the past year I've been hearing praise from those who are subscribers at INVESTools and those positive comments led me to investigate their offerings myself. When I arrived at the website, I noticed a few things right off the bat that doesn't make me a happy camper. First, there is no price for the services they offer. Second, I have to either call or chat online with their sales reps to get more information on "how to enroll." In a day an age when you can do just about everything online, this kind of hard sell tactic doesn't win many points as far as I'm concerned.

Nevertheless, I decided to bite the bullet anyway and did an online chat with one of their sales reps today. You can read a full transcript below:

You are now chatting with 'Jennifer D'

Jennifer D: Welcome to the Admissions Live Chat. How may I assist you?

Charles Kirk: Hello. I would like to know how much your charge for a subscription to your investor toolbox. Thank you.

Charles Kirk: Hello?

Jennifer D: I am here

Jennifer D: Where did you hear about us?

Charles Kirk: Online from other subscribers.

Jennifer D: Great!

Jennifer D: We have an introduction package that would include the online course of the Basic Stocks, 6 months access to the web site (toolbox), and you can choose either a 2 day workshop or 6 months of our online coaching.

Jennifer D: This package is $2029.00.

Jennifer D: Do you have experience in the market?

Charles Kirk: I am an experienced investor and trader and do not want the workshop or online coaching, just access to the toolbox. How much would that be?

Jennifer D: We don't sell just the access. The minimum would be the $2029.00.

Jennifer D: After the 6 months the web access is $50 a month.

Charles Kirk: Do you offer a free trial access to the toolbox?

Jennifer D: The only way I can do this is by actually securing the payment with your credit card and giving you an amount of time to go through the web site. If you feel like you are unhappy then we will issue you a refund.

Charles Kirk: How long do I get to "try" the toolbox and can I just pay for the toolbox fee and not the $2K grand?

Jennifer D: I can give you 2 weeks to go through the web site. The minimum would be the $2k. You can not just pay for the toolbox fee to start.

Jennifer D: I am sorry, we just don't offer that.

Charles Kirk: Why not? I'm an experienced trader and investor and I'm not interested in coaching or trading help. I just want access to the tools.

Jennifer D: The online course covers on how to best utilize the web site.

Jennifer D: There is a lot of information on the web site and you need to know how to use it so that you can utilize it correctly. I am sorry, but there is nothing I can do about that.

Charles Kirk: What is the difference between your toolbox and the screening services offered at Prophet.net which I've been told are very similar?

Jennifer D: Prophet.net is just a charting tool to help you with the timing. We offer the fundamentals, insider trading portfolio management. We actually own Prophet.net.

Charles Kirk: Yes. I know you do. But, that's not my question. Can you specifically give me examples of your toolbox since your website does not provide a lot of details?

Jennifer D: What I can do is set up a time with you for a tutorial. I can have you log into my computer and you can see the toolbox for yourself. Would that be beneficial for you?

Charles Kirk: Yes, that would be fine. I'm available right now to do that.

Jennifer D: What is a good number to get a hold of you?

Charles Kirk: I do not want to provide personal contact information. I can give you my email address, but that is all.

Jennifer D: In order to do the tutorial we would need to be on the phone so that I can explain in detail. We do have an online preview tonight that I can enroll you in, but I would still need your phone number to enroll you in this.

Charles Kirk: Why do you need my telephone number? I do not wish to be contacted that way or have my personal information sold.

Jennifer D: We do not sell our students or potential students information. Let me give you my contact information. I am just trying to assist you in with the information you are requesting. In order to do that we would need to be on the phone. Feel free to contact me at ###-###-#### Ext #### if you want to set up the tutorial. But in order to attend the preview we must need your phone number. You can put on there that you would not like to be contacted if you wish. But, in order to even get you signed up with the toolbox we will still need that information.

Charles Kirk: Is there a reason why you don't provide the ability to sign up for a trial period online before forking over the $2,029.99? That's quite a lot of money to pay for a service/product that I haven't seen.

Jennifer D: I just know that our policy is that we have to secure the card first. Then in the time allowed you have the option to cancel if you wish.

Charles Kirk: Well, thank you for your help. Goodbye.

I don't like hard-sells and any company that forces you to go through this process to find more information about their products and services isn't one that I'm going to do business with. Period! They may offer a great product and service, but I'm certainly never going to know that. Perhaps others have much more patience with this than I do which is probably why I don't do these kind of reviews.