What is the name of your state? MN
I opened a brokerage account with a major on-line company back in June. Prior to opening the account I informed them that I was going to fund the accout with stock from a UK company traded on the London Stock Exchange and asked if there was anything special that needed to happen. The broker informed me that there wasn't and I sent off my certificates. After a month of noting that my account did not reflect my deposit correctly I contacted the brokerage and asked what the problem was. After some digging I was informed that the problem was I had used my middle intial when opening the account, but it wasn't on the certificates and they needed a document stating that we are one in the same person. I sent such document immediately, but after a few weeks still no ability to trade shares. I contacted the brokerage again (contact is never initated by them) to find out what the problem was and after many phone calls found out that I needed to complete something called a CREST transfer form (something neither of the so called experienced brokers I had spoken to had heard of). I have completed this twice now and sent in, it has been almost 4 months since I opened the account so I could trade these shares as needed/desired, and a month and a hald since the second CREST form was sent and I am still not able to trade the shares and my messages are not returned. This has been very upsetting, has cost me a few hundred dollars and I don't know what to do.
Am I being unreasonable in expextations?
What can I do? I have had to borrow and use other funds that these securities were earmarked for.
Thanks for any help/advice.
I opened a brokerage account with a major on-line company back in June. Prior to opening the account I informed them that I was going to fund the accout with stock from a UK company traded on the London Stock Exchange and asked if there was anything special that needed to happen. The broker informed me that there wasn't and I sent off my certificates. After a month of noting that my account did not reflect my deposit correctly I contacted the brokerage and asked what the problem was. After some digging I was informed that the problem was I had used my middle intial when opening the account, but it wasn't on the certificates and they needed a document stating that we are one in the same person. I sent such document immediately, but after a few weeks still no ability to trade shares. I contacted the brokerage again (contact is never initated by them) to find out what the problem was and after many phone calls found out that I needed to complete something called a CREST transfer form (something neither of the so called experienced brokers I had spoken to had heard of). I have completed this twice now and sent in, it has been almost 4 months since I opened the account so I could trade these shares as needed/desired, and a month and a hald since the second CREST form was sent and I am still not able to trade the shares and my messages are not returned. This has been very upsetting, has cost me a few hundred dollars and I don't know what to do.
Am I being unreasonable in expextations?
What can I do? I have had to borrow and use other funds that these securities were earmarked for.
Thanks for any help/advice.