I got a confirmation email that this had been initiated. He showed me the amount available, and how to make the withdrawal and transfer all of the money, that which they started with as well as that which they took that they should not have, and to have it transferred into my bank account. In any case, Kenneth walked me through the process, step by step. My position is that this would never have happened if they would allow us to speak with real live people and get some guidance. He walked me through everything, and said that the reason they TOOK money instead of depositing money was because I hit a wrong tab. I finally was connected to Kenneth R*****. 12th I made the committment to stay on hold until such time as I could speak to an agent. Now they have double the amount that they should. I kept watching my account, and instead of making a deposit, they WITHDREW that money. It indicated it would be a few days before the transfer would take place. 8th I initiated what I believed was an EFT transfer to get my funds and close my account. Because I was seeing no alternative to getting my money, I decided to take the risk. However, since it was a brokerage firm, they felt the risk was small, but they were clear. The bank explained that by allowing them EFT access, I was indeed taking risk that they would take money they should not. I felt that would perhaps allow me to close the account and get my money. I explained the situation, and asked if there was risk by allowing them EFT to my bank account. With nobody to give me guidance, I phoned my bank. Of course, I had requested what the website said I had. 7th I received an email saying my transfer request had been cancelled due to lack of funds. The reason for this, I do not trust these people, and I did not want them to have access to withdraw money from my bank account. As far as I understood it, I requested the transfer of my account balance, and although it would cost me $20 for a check, I requested a check rather than EFT. To initiate that, I have requested to withdraw my funds. On January 6th I sent an email to them (which I have copies of) specifying I wanted to OPT OUT of the transfer of my account to the new brokerage, AND I wanted to close my account altogether. ![]() When it was time to transfer the funds and close the account, I tried to phone and once again, was unable to reach a real live person. What do those without internet access do? But since we were making progress, I went with it. He walked me through setting up an online access, but told me I still could NOT access my money for a specified number of days. Early January (I believe) I finally reached a real live person! He told me I had not set up my online access and that NOTHING could be done until I had completed this. I phoned many times and never could reach a real live person. Early December we received notice that the account would transfer to another 3rd party if we did nothing. At the time, I did not feel great urgency, so I tried from time to time during the work day. I was never able to reach a real live person when I phoned, and I could not successfully navigate their website. I was not happy about that, and intended to withdraw my funds and close the account. This account was acquired by Folio Investing. I had a small investment account with *****. Since November, when folio institutional states they were notified of my advisors death, my account is down over $10,000.I am requesting the reimbursement of lost funds since my advisors death and delay of the liquidation of my account, the liquidation of my account, and the transfer of funds back to my bank account. Upon another follow up phone call, I was informed it would resolved on. A few hours later, my account was still not liquidated and down another $2,000. I was informed manager were noticed and my account would be liquidated on. On, I made another follow up phone call because my account was still not liquidated and down another $2,000. Finally, upon my third consecutive call, I was given a case number and informed my account would be liquidated the same day and a transfer of funds would be initiated. Left on hold for thirty minutes upon a second call until I hung up. I contacted folio institutional to follow up on after my account was down another $4,000. I was instructed to send a letter in a word document with my instructions, which I sent. Folio institutional never notified me until I called them on in an attempt to liquidate my account and transfer my funds. He does not work with any other advisors, so my account was no longer being managed but was invested. They have since received his death certificate. Folio institutional was notified in November that my financial advisor was deceased. Folio institutional, purchased by ******* *****, provided me with security of investing through my financial advisor.
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