Ronald Rex Poor at EDWARD JONES – View Complaints, Disclosures, Scams and Audit Report (Updated 2023)

Disclosure #1 for Ronald Poor

• • eventDate: 10/15/2004
  • Disclosure Type: Customer Dispute
  • Disclosure Resolution: Closed-No Action
  • Disclosure Detail :: Allegations: CLIENT STATES IR HAS HARRASSED HER AND DELAYED HER REQUEST TO TRANSFER HER ACCOUNT TO ANOTHER FIRM. CLIENT STATES SHE HAS LOST MONEY (OVER $100,000) DUE TO ADVICE RECEIVED FROM IR. CLIENT STATES IR RECOMMENDED INVESTMENTS SHE DID NOT WANT TO PURCHASE AND WOULD NOT ALLOW HER TO EXERCISE STOCK OPTIONS. CLIENT CLAIMS LOSSES IN EXCESS OF $100,000.
  • Damage Amount Requested: $100,000.00
  • Arbitration Docket Number:
  • Broker Comment: ACCORDING TO IR, ORIGINAL PAPERWORK RECEIVED TO TRANSFER/ROLLOVER TO THE ACCOUNTS AT WESTERN SOUTHERN LIFE WAS NOT IN PROPER ORDER. IR INDICATED HE MADE SEVERAL ATTEMPTS TO CONTACT CLIENT REGARDING THE PAPERWORK AND WAS UNABLE TO REACH HER. ACCORDING TO OUR RECORDS, PROPERLY EXECUTED PAPERWORK WAS RECEIVED TO TRANSFER THE TRADITIONAL IRA ACCOUNT ON OCTOBER 5, 2004. INVESTMENTS WERE LIQUIDATED AND A CHECK WAS ISSUED TO WESTERN SOUTHERN LIFE ON OCTOBER 11, 2004. PAPERWORK WAS RECEIVED ON OCTOBER 26, 2004 TO TRANSFER THE ROTH IRA ACCOUNT. IT IS UNDERSTOOD AN ATTEMPT WAS MADE TO VERIFY THE TYPE OF ACCOUNT ESTABLISHED WITH THE CLIENT’S NEW FIRM, BUT THE FIRM WAS UNABLE TO OBTAIN THE INFORMATION. AS SUCH, THE PAPERWORK WAS RETURNED TO WESTERN SOUTHERN LIFE. AFTER RECEIPT OF THE CLIENT’S LETTER, THE INSURANCE SERVICES DEPARTMENT WAS CONTACTED TO DETERMINE WHAT ACTIONS COULD BE TAKEN TO EXPEDITE THE TRANSFER. HOWEVER, IT IS UNDERSTOOD AT THIS TIME THE CLIENT HAS INFORMED IR’S OFFICE STAFF THAT CLIENT IS STOPPING THE TRANSFER PROCESS. IF THE DECISION IS MADE TO PROCEED WITH THE TRANSFER, PAPERWORK MUST BE SUBMITTED IN GOOD ORDER BY THE RECEIVING FIRM. AT THE TIME OF THE PURCHASES, CLIENT WOULD HAVE RECEIVED TRADE CONFIRMATIONS AS WELL AS THE APPROPRIATE MUTUAL FUND PROSPECTUSES. IN ADDITION, CLIENT HAS RECEIVED STATEMENTS THAT PROVIDE INFORMATION REGARDING THE INVESTMENTS HELD IN THE ACCOUNT AS WELL AS REFLECTING ACCOUNT ACTIVITY. THEREFORE, IT IS OUR OPINION ALL TRANSACTIONS EFFECTED IN THE ACCOUNTS WERE AUTHORIZED. FURTHERMORE, IT APPEARS IR WAS UNAWARE OF THE STOCK OPTIONS TO WHICH THE CLIENT HAS REFERRED TO IN HER CORRESPONDENCE.