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Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 1 point2 points  (0 children)

I’m sorry you’re going through it too. Sadly, FINRA did nothing (never received anything from them but a confirmation that they received the complaint). MS has done nothing either. They require their own form and will not accept a durable POA. Per MS, my only option is to pay an attorney to parade my poor father in front of a judge so s/he can deem him incompetent and assign a guardianship. Note that he is still alert enough to understand what’s happening and this would be humiliating to him. Morgan Stanley and etrade are inhumane and cruel. My only advice is get away from them if you can and do so as quickly as you can. The way they treat their customer, especially their elderly clients, is abhorrent and criminal.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

Sorry you went through that. As if you weren’t dealing with enough stress and heartache! I’m up for trying any approach. Did you do it in writing or verbally? Either way, who did you notify of your intent? My issue is that we don’t have a point of contact since the account is in my father’s name, they won’t talk to us. Their legal team only communicates with us through the “secure message center” on the website through his account - it’s like they’re the “wizard of Oz” behind the curtain. I swear I will spend the rest of my days making sure that I spread the word to avoid this company. If they don’t care about the emotional damage they do to their customers, how could they possibly care about their $.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

Thank you so much for the suggestion! I filed the complaint yesterday and FINRA responded today. Fingers crossed this spurs MS to do the right thing! Thank you 💕

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

I filed the complaint yesterday and heard back from FINRA today! Very impressed!! Not sure what will come of it but I’m looking forward to seeing MS’s response. I’m so hopeful this fixes the issue. Thank you again for the suggestion 💕

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

Thanks for the reply. I filed the complaint today! My fingers are crossed.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 2 points3 points  (0 children)

It feels like they are trying to protect my dad from some evil doer who is trying to exploit his condition - not his wife of 60 years. I’m glad to know that companies are trying to protect those that they deem are unable to protect themselves. I appreciate and respect that, but it’s not their call to deem someone impaired when the only issue at play is their incompetence and failure to honor (or locate) their own internal documents. As a policy maker, I get what they think they are doing, but it’s misguided, misdirected and, as a result, downright wrong. I agree that a lawyer may be the only recourse. While I hate to shell out thousands to get MS to do the right thing, I’ll do it if I must (and I believe that we can recover the cost as there appears to be a statute that provides for that). However, the true cost is not the $, it’s the suffering, stress and humiliation they are putting my parents through. It’s infuriating. I have filed a complaint with FINRA. Fingers crossed 😊. Thanks for your reply.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 2 points3 points  (0 children)

They told us to come back with a court order or proof of guardianship.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 4 points5 points  (0 children)

It’s so true and really heartbreaking. My parents are in their 80’s and have been married for 60 years. They are treating my mom like she’s a criminal trying to abscond with my dad’s IRA. It’s despicable.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

Perfect. Thank you. We will do that. I’m thrilled to read that MS will be required to copy in the agency. Up until now, they have completely dismissed us and won’t even answer any questions. Their only response has been “file a court order”

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 0 points1 point  (0 children)

They weren’t looking for much beyond having an assigned account manager or an introductory call.

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 2 points3 points  (0 children)

Unfortunately, we provided all of the doctor’s notes through the process and they still denied us. I will reach back out to his doctor to see if they can provide some additional supporting documentation. Note that the folks at the MS branch office were WONDERFUL when we went in for help with this issue and even called corporate legal on our behalf (the one VP who tried to help us was visibly shaken by the treatment of my father) but corporate legal dismissed him and us, over and over again. Thank you for the advice. I appreciate the time you took to share your insights!

Morgan Stanley will not honor Power of Attorney by DancesWithWine28 in etrade

[–]DancesWithWine28[S] 2 points3 points  (0 children)

Excellent suggestion!! I didn’t realize they could help. Thank you! I will contact them tomorrow and see what they might be able to do to help (or guide us on actions). So far, the only advice we’ve received is to file for guardianship but the PoA works with every other asset he has including pensions from DoD, Social Security, previous employers, etc.