The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Is complaining worth the hassle - 401K Inter||Date: 12/1/1999 6:39 PM|
|Author: Bobbcat||Number: 15803 of 77107|
The total trade was worth around $20K and I estimate their error cost me about $170. It was just under a 1% of the trade. Should I complain?
Has anyone ever complained to a brokerage company holding their firm's 401K accounts? Was it worthwhile?
Were there ramifications within the company?
Ask nice first, get progressively tougher if need be.
The brokerage firm has a fiduciary responsibility to any qualified plan to cover any losses that occur due to their mistake(s).
If there is a gain due to errors, they may not take the gain.
If there are both losses and gains attributable to a single error, they may use any gains to offset losses.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|