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We have several accounts with the investment managment arm of the CPA firm we use for personal as well as business accounting/tax prep. The accounts are "housed" with Fidelity. Yesterday I got an email regarding a trade confirmation. When I checked my Roth account, I saw that the funds I asked to be purchased with my 2012 contribution were not made--that other funds were bought.
I sent a series of emails to our management firm starting last part of January about my IRA/Roth IRA contribution--- the first to the advisor himself which he forwarded to his PA. So I send all the others to her, including the one where I asked for the money to be divided equally between 2 funds that were already part of my account.
I forwarded that email--with the trail of exchanges--to my husband a minute or so later--so he would be updated.
I saw when the transfer happened in early Feb and watched the account for couple of days and no buys happened. I thought our advisor was waiting for a pull-back since the market was going up...then I got busy and just forgot to check.
I checked my email records last night and found only one request for those two funds: no reminders and no changes to something else. In that email, I mentioned that our daugter was expecting our first grandchild, that we might want to discuss with our advisor at our next face to face what having a grandchild might change with our investment plan. I remember the PA responding with congratulations--so I am pretty sure she did receive the email. I just can't find that response with the others, so I guess I didn't save it.
Today I sent an email to the advisor, his PA, and my husband with the email chain from January--and asked for clarification.
IF I changed my mind, requested somethng else, and forgot to make a notation of that new info----then yes--I look forgetful / unorganized / ditsy ...and I can accept that verdict because hey--it would be accurate.
But if I changed my mind, I find no proof in my records. Shouldn't they have to offer something from me that overrules the email in January?
What are my options if our investment firm is at fault?
Are they obligated to make this right?
our investment guy is a CPA and has several types of certification as financial advisor---he is partner in one of the best know CPA firms in our area...
This is the first time in the years they have handled our investments that anything like this has happened...
so I don't really think they are screwing over our accounts--
it is possible that someone dropped the ball totally unintentional and I did not follow up and ask why they didn't make the buys like I asked...
and I guess it is possible that I changed my mind about what I wanted done with the contribution--
but I have no recollection of leaving that money to their discretion.
That is why I asked for some proof...
they agreed mistake on their end
going to make it right--not charge me for fees (like that is a favor)
but one of my funds is up more than any other in my portfolio--
I would have made a little bit more overall if they had bought it in Feb
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