What is the name of your state (only U.S. law)? Georgia
A national brokerage firm with an office in Georgia but based in NYC accepted my durable power of attorney and I was able to open an account for my mother who is in a nursing home. After some months passed, I was informed that the POA was not detailed enough and that I must present either another POA (their form) signed by my mother who has Alzheimer's, have my brother sign a form giving permission to have the account with the firm (I have sole POA for her finances), or move my account into another plan. The problem is that I will lose tens of thousands of dollars by switching plans because of stock losses. I believe they are acting unreasonably since they originally accepted the POA, took my money and opened the account. Do I have to give in to these people?
A national brokerage firm with an office in Georgia but based in NYC accepted my durable power of attorney and I was able to open an account for my mother who is in a nursing home. After some months passed, I was informed that the POA was not detailed enough and that I must present either another POA (their form) signed by my mother who has Alzheimer's, have my brother sign a form giving permission to have the account with the firm (I have sole POA for her finances), or move my account into another plan. The problem is that I will lose tens of thousands of dollars by switching plans because of stock losses. I believe they are acting unreasonably since they originally accepted the POA, took my money and opened the account. Do I have to give in to these people?