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I  have started this web page to voice my displeasure of Costco aligning themselves with American Express Financial Advisors ("AEFA"). As apparent by the posters at Amexsux.com as well as the numerous articles written by the WSJ, Money, etc., AEFA is more interested in turning a profit than helping the client's they profess to give "trusted" financial advice. As you can see by the email below, I have made Costco aware of my opinions on AEFA's business practices. As is evident by Costco's response, in my opinion, Costco isn't concerned about what they market to their customers. IMO, they're more concerned about the fees they generate from the "alliance" with Costco and American Express. If you shop Costco you've probably seen that AEFA has resorted to the girl scout cookie approach of selling "financial plans". Don't be fooled by AEFA's fancy brochures and sales pitch. AEFA's goal will be to place you in expensive poor performing annuities, VULs, and AXP funds. AEFA targets Costco customers because they know the typical Costco shopper has a good income and more than likely limited investment experience. This makes the Costco customer ripe for the picking to be placed in proprietary products. Since it's obvious Costco is more concern about generating fees for itself, we should start an email campaign to Costco to let them know that teaming (charging) with AEFA is a bad idea. Feel free to cut and paste the following then send to Costco IR. I've sent the first one email: investor@costco.com To: Mr. Jeffrey H. Brotman, Chairman Costco 999 Lake Drive Issaquah, WA 98027 Tel: (425) 313-8100 Fax: (425) 313-8114 Subject: American Express Financial Advisors (AEFA) Mr. Brotman: It has come to my attention that Costco has established a relationship with AEFA. With this relationship, Costco is selling store space to AEFA in the hopes AEFA will be able to "pitch" Costco shoppers financial "plans". You may not be aware but I am writing you to let you know that in my opinion AEFA does not provide financial advice. In my opinion, AEFA operates under the guise of trusted financial advice when in fact AEFA will use this guise to place people in poor performing, high fee proprietary products like annuities, variable universal life, and AXP funds. You can read more about AEFA's business practices at http://www.amexsux.com . I can appreciate that during these tough economic times Costco is looking to generate revenue by selling store space to AEFA; however, aligning yourself with AEFA will alienate Costco shoppers from your stores. If you continue to support companies like AEFA, I will no longer shop at your stores. In addition, I'll tell my friends and family not to support Costco since by your actions it's obvious supporting unethical companies is a priority over customer satisfaction.

Links: Amexsux.com

Boycottcostco.tk is not endorsed nor is it affiliated with Costco, American Express, or American Express Financial Advisors. The statements on this site are my opinions and expressions which are protected by the First Admendment. I suggest you do your own research on Costco, American Express, and American Express Financial Advisors before you decide to use them. Costco, American Express, and American Express Financial Advisors are registered trademarks of their respective companies.