TOD on account

[samntex]

What is the name of your state (only U.S. law)? Texas. My mother wants to add a TOD on her investment account..Her Broker says she HAS to come in-in person to do this..Can I insist this be handled thru the mail?...We have no problem with a Notary or Witnesses..She does not want to travel she is sick and has a hard time walking and is incontinent..

 

[Zigner]

What is the name of your state (only U.S. law)? Texas. My mother wants to add a TOD on her investment account..Her Broker says she HAS to come in-in person to do this..Can I insist this be handled thru the mail?...We have no problem with a Notary or Witnesses..She does not want to travel she is sick and has a hard time walking and is incontinent..

You can insist and they can refuse.

 

[adjusterjack]

What is the name of your state (only U.S. law)? Texas. My mother wants to add a TOD on her investment account..Her Broker says she HAS to come in-in person to do this..Can I insist this be handled thru the mail?...We have no problem with a Notary or Witnesses..She does not want to travel she is sick and has a hard time walking and is incontinent..

I suggest she find another broker. There's no reason for the broker to by crappy about that.

I'm with Ameritrade and I do all that kind of stuff by mail or online.

By the way, signing up with an online brokerage like Ameritrade or Scottrade can be done by mail and the new brokerage will get the accounts transferred from the old brokerage.

 

[Zigner]

I suggest she find another broker. There's no reason for the broker to by crappy about that.

I'm with Ameritrade and I do all that kind of stuff by mail or online.

By the way, signing up with an online brokerage like Ameritrade or Scottrade can be done by mail and the new brokerage will get the accounts transferred from the old brokerage.

It's also possible that the broker is concerned about possible coercion.

 

[FlyingRon]

It needs whatever signature validation the institution holding the account (which isn't typically the broker) demands. Usually, there's some way to handle this by mail (though it may take a local notary).

 

[samntex]

What is the name of your state (only U.S. law)? Texas. My mother wants to add a TOD on her investment account..Her Broker says she HAS to come in-in person to do this..Can I insist this be handled thru the mail?...We have no problem with a Notary or Witnesses..She does not want to travel she is sick and has a hard time walking and is incontinent..

Ok I will reword ..Can I legally make him do it our way?

 

[FlyingRon]

Ok I will reword ..Can I legally make him do it our way?

YOU can't do anything. The broker has no obligation and in fact a fiscal responsibility NOT to deal with YOU at all.

Mom can tell her that they can arrange convenient execution of the documents she wants or she will find another broker.

 

[samntex]

Ok I will reword ..Can I legally make him do it our way?

There is no coercion..I have Durable POA and I am her son..I realize it does not come with TOD authority..But my mother knows what she wants.

 

[FlyingRon]

There is no coercion..I have Durable POA and I am her son..I realize it does not come with TOD authority..But my mother knows what she wants.

Read the second line of my previous post. You can't force them, but you can vote with your feet. If the broker is not affiliated with whoever owns holds the account, you may be able to end run around them.