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I'm the administrator for the Mother's estate who passed away in 12/05/07.
I turned over all her certificates and book entries along with all statements for stocks listed under my mother's name to be transfer into an estate account by 1/3/08 with my mother's broker. A few stocks were with another transfer agent. I signed and had notarized Affidavit of Domicile, Death Certificates and Letters of Administrator on 1/3/08 for ALL. Since 1/3/08, I have called weekly for updates. Every time I called the agent I was informed that they were researching or working on it. In 2/08, I requested 4 accounts to be opened for the 4 kids. No one received any paperwork. In 7/08, my brother and sister from out of state, setup an appointment and then requested their accounts be opened. Again the accounts were not created. We all started calling weekly for updates with no success. After writing a complaint to FINRA 2/09 on these issues, the broker informed FINRA that everything I requested as the administrator had been done. I was also assigned another broker with the same company who is now getting the stocks transferred but will NOT answer my questions about all the delays. She will only say that it’s with another transfer again and that they had no control. I had to get updated Letters of Administrator because of their delays. I’m in probate and the State wants the estate closed.
FINRA informed me that I can go to arbitration or get a securities-fraud-lawyer. I documented all emails and calls on all issues while being the administrator. All 4 of us kids have been totally involved with this mess so it's not 1 person against a stock company it's 4 kids. Any suggestions??????
We lost so many money because of their delays since 1/08.
I turned over all her certificates and book entries along with all statements for stocks listed under my mother's name to be transfer into an estate account by 1/3/08 with my mother's broker. A few stocks were with another transfer agent. I signed and had notarized Affidavit of Domicile, Death Certificates and Letters of Administrator on 1/3/08 for ALL. Since 1/3/08, I have called weekly for updates. Every time I called the agent I was informed that they were researching or working on it. In 2/08, I requested 4 accounts to be opened for the 4 kids. No one received any paperwork. In 7/08, my brother and sister from out of state, setup an appointment and then requested their accounts be opened. Again the accounts were not created. We all started calling weekly for updates with no success. After writing a complaint to FINRA 2/09 on these issues, the broker informed FINRA that everything I requested as the administrator had been done. I was also assigned another broker with the same company who is now getting the stocks transferred but will NOT answer my questions about all the delays. She will only say that it’s with another transfer again and that they had no control. I had to get updated Letters of Administrator because of their delays. I’m in probate and the State wants the estate closed.
FINRA informed me that I can go to arbitration or get a securities-fraud-lawyer. I documented all emails and calls on all issues while being the administrator. All 4 of us kids have been totally involved with this mess so it's not 1 person against a stock company it's 4 kids. Any suggestions??????
We lost so many money because of their delays since 1/08.
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