If I Could File a Lawsuit, I Would

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If I Could File a Lawsuit, I Would

I’m really angry at the investment firm Morgan Stanley – really angry.  I have had to deal with them since my father died, trying to manage and move a small IRA my sisters and I inherited, and they have done their utmost to make that impossible. I’ve told the story at my About.com blog because the bottom line is – if there was such a thing as a financial services advocate, I would hire him or her.  That’s a great lesson for patients, with similar concepts applied to their medical care, and will hopefully make some of your phones ring, too. But I’m so angry and frustrated by my experience with Morgan Stanley, that if there was such a thing as filing a lawsuit over their behavior, I would file one. Within this experience are some lessons for advocates, how we handle customer service, and how we keep ourselves from being sued. You can read some of the story here. I’ve listed some of their transgressions, but not the worst ones. In that About.com post, I didn’t talk about the contracts they insisted I sign – “immediately or we’ll miss the deadline!” – in which they had already checked off boxes that made choices I would never make. Fine print, intended to trick me? Or the fact that I almost had to pay penalties because Dad had not taken a minimum distribution for 2012 – a fact pointed out to me in the 11th hour – a question I never would have known to ask. I’m so angry, in fact, that I’m writing about them publicly and naming names. I’ve threatened to report them to the SEC. You don’t EVER want your clients to become so angry at you. At the root of my anger is, that just like your clients and potential clients, I don’t know what I don’t know, and Morgan Stanley is treating me like a mushroom – keeping me in the dark and feeding me, well, animal waste. The truth is, every step of the way, my anger and frustration could have been diffused by one…


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