Wells Fargo Advisors
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My mother passed away and she had an…
My mother passed away and she had an account with Wells Fargo Advisors. My brother, sister, and me were listed as beneficiaries along with her significant other. Getting the money was a very painful experience and in addition to that they are charging a fee to transfer the money. Let me explain. First, the account person my mother dealt with took 3 weeks to get us the paperwork we needed to fill out and to get it submitted. Then after submitting the paperwork, it took them 2 months to process it. And this was after repeated calls asking for the status and badgering them. Until the very last days, their answer was that they didn't know the status nor the ETA, which is crazy. So they were basically telling me that it could take forever. Here's an idea, how about they give me their money and I'll hold it for as long as I want. Anyway, I finally got one of the accounts from my mother and promptly initiated a transfer to Fidelity. Little did I know that there is an outstanding dividend that they're "not sure" if they can get to me AND I was charged an account termination fee of $125. What? The only reason I opened an account with them is because THEY FORCED ME. It wasn't like I wouldn't have taken a check for my mother's account. When I called to complain I was told that it was in the agreement they sent which had like a hundred pages in it and that this was standard practice across the industry. Think about it. Even if they charged my mother a termination fee, that's only for her account. Now they are going to charge us the same fee 4 times because that's the number of beneficiaries. On top of it all, this is due to our mother's death which you'd think would warrant some kind of waiver. Absolutely unscrupulous.