ComplaintsforLord Abbott Investment

• Initial Complaint

  04/25/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  My sister and I are successor trustees of our parents' trust. My mom survived my dad, but she passed away on October 28, 2021. Trust assets included mutual funds at Lord ******. We have tried for five months to get them to transfer the account (**********). First we tried to get assistance from the person listed as the Financial Advisor, ****************************. He put us off for over a month. When we finally got an appointment to meet him in person, he moved his office and didn't tell us. We then called him and he told us his new location. He handed us copies of a document (we already had from the Lord ****** website) and told us we were on our own. He would not help us. My sister called Lord ****** and was told our financial Advisor should have taken care of all this for us. Apparently he did make changes to the account after our meeting, changes we did not authorize and do not approve of. Since that meeting on December 10, 2021 (or thereabouts) my sister and I have called Lord ****** numerous times. We are always told they will correct the record, but to date they never have. We submitted the form they require, with Medallion Guarantees for our signatures in February. It took a very long time to even get the guarantees, they are not longer given out by most institutions we approached in California. I was told they were waiting for a banker to give them his "number" and that they sent him a letter on March 4. I explained that we have done everything legally required and they should not hold things up any longer. The banker in question has called them on the telephone and given them his "number". We have at all times remained pleasant and rational with Lord ******, but there is no avenue left to us. Meanwhile, we note that the account is worth about $12,000 less than when we started all this. We want to be on record as the successor trustees, they have all the proof. Then we want to immediately stop doing business with them due to our treatment.

• Initial Complaint

  11/16/2021

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  I have been trying to cash out/close my account with lord abbot since early September 2021, and receive a check for the amount i have invested with them. I have made multiple phone calls to their customer service to try to receive a check for my funds. On several of those calls, i was hung up on for no reason without notice. I have so far been promised 4 separate time frames for my check to arrive. The check has never arrived despite the company consistently claiming it has been sent and delivered. I also garnered the help of my family's financial representative with the company. He called and was hung up on, much like myself. Eventually, he contacted an individual higher up in the company that promised to resolve my issue and have my check sent out. I was told it would be overnight shipped from Friday November 12th. November 13th rolled around and still no check. We were then told by our rep to wait until Monday November 15th. Again, no check. We were told to give it one more day, and again i have not received a check for the money i had invested with them. I did receive a small check for dividends, but that amount of money is far far below the amount i have invested with them. the dividend check was for 35 dollars. My total investment amount is around ***** dollars when i called to closed the account

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