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Miscreants who deserve far worse... My mom, who is now 94, was bilked by WF Advisors of her last few savings.
A short excerpt of her experience (WF Advisors had bought UTA as part of a put/call income strategy):
I wanted to share some information about Wells Fargo Advisors. Even though my mom's account had been closed in Dec of 2011 there was still a security (UTA) that had not been sold. My mom received a 1099 for 2012 when WFAdvisors finally sold the stock in October of 2012. My mom took a $2600 loss on the 200 shares of UTA. These shares and this company (UTA) were a fraud. When everything was said and done it left my mom with $122, of which, WFAdvisors took an $85 account maintenance fee (even though she had closed the account a year earlier) leaving her with just $36. Ouch!
@Brianw. You must be able to rollover part or full as on date to your ira. In prudential with limited funds, I rolled over twice to vanguard in last 9 years. Final rollover will next month when I retire.there must be a way out
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A short excerpt of her experience (WF Advisors had bought UTA as part of a put/call income strategy): Fraud at UTA:
businessinsider.com/did-bronte-capital-already-take-profits-on-their-massive-uta-short-2010-9
Thank you Ms. Yellen.
https://nytimes.com/2018/02/02/us/politics/yellen-departing-fed-will-join-brookings.html