Legal Question in Investment Law in Colorado

We has trouble with our brokerage firm getting them to issue my dad's minimum distribution from his IRA in Dec. In the past 4 years I have had to provide my POA document over and over, and that office claimed I never provided it even thought I stood by our advisor, a VP at the company, when he copied it. I called their corporate office and they had me fill out a POA in full force and effect document. I thought all was fine but yesterday received a letter from the branch manager saying I have to remove the accounts, which includes the family trusts of 3 million dollars within 30 days or they will liquidate it and send me a check. Is this legal? We had asked for a new advisor prior to this but this was not done.

Asked on 2/26/14, 10:59 am

1 Answer from Attorneys

Nicholas J. Guiliano Securities Arbitration Investment Fraud Lawyers

Unfortunately, they can do that (given proper written notice and a reasonable time to comply). Thirty days is reasonable, and they probably view you as a problem customer.

I can guess the firm, but everyone is probably better off finding a new broker, which you should also investigate at

Good luck.

Nicholas J. Guiliano, Esquire

The Guiliano Law Firm, P.C.

230 South Broad Street, Suite 601

Philadelphia, PA 19102

(215) 413-8223 (Telephone)

(215) 413-8225 (Telecopier)

(877) SEC-ATTY

This shall not be construed as the offer, or the solicitation of an offer to provide legal services of any kind in any jurisdiction where such offer or solicitation may be prohibited. Responding, or contacting us by any means shall not create an attorney client relationship of any kind.

Read more
Answered on 2/26/14, 11:12 am

Related Questions & Answers

More Investment Law questions and answers in Colorado