S
SConnolly
Guest
What is the name of your state?What is the name of your state? California or Oregon
My father passed away a couple of months ago and my brother and I inherited his retirement account. We live in California, as did my Dad, but his Wells Fargo account was transferred up to Oregon. When he was alive, he had complained of the numerous/expensive fees they were charging in handling his account. Now they are benefitting again. Instead of selling the stock all at once and dividing the money between my brother and I, they have divided the shares, sold them separately, and thereby getting a commission AND a handling fee ($5 each for a total of $20 on my part and another $20 from my brother...not to mention what they're getting in commissions). That account was worth $10,000. When all is said and done, we're out nearly $800. This doesn't seem right. Is this a normal practice? How does the bank justify taking so much of our Dad's money? Makes me NEVER want to invest. I know he lost money in this account from the beginning.
Thank you,
Shelley
My father passed away a couple of months ago and my brother and I inherited his retirement account. We live in California, as did my Dad, but his Wells Fargo account was transferred up to Oregon. When he was alive, he had complained of the numerous/expensive fees they were charging in handling his account. Now they are benefitting again. Instead of selling the stock all at once and dividing the money between my brother and I, they have divided the shares, sold them separately, and thereby getting a commission AND a handling fee ($5 each for a total of $20 on my part and another $20 from my brother...not to mention what they're getting in commissions). That account was worth $10,000. When all is said and done, we're out nearly $800. This doesn't seem right. Is this a normal practice? How does the bank justify taking so much of our Dad's money? Makes me NEVER want to invest. I know he lost money in this account from the beginning.
Thank you,
Shelley