Q: My investment advisor account with RBC DOMINION SECURITIES of over 30 years was closed by the company by forwarding a letter that the account had to be transferred.
The account was opened as fee based, then converted to percentage of assets. As fees charged as a percentage were excessive compared results and time devoted, the account was reverted to fee based, where each trade was as much as $500, This was changed several years ago with the consent of the advisor.
No reason was given and maybe more than 15 years with the same advisor, we did not even receive a call.
This to an 86 year old with more than 30yrs with RBCDS.
Sorry, just needed to vent and assumed that it may be of interest to some of your subscribers.
Publish as per your descretion.
Thanks
Thomas
The account was opened as fee based, then converted to percentage of assets. As fees charged as a percentage were excessive compared results and time devoted, the account was reverted to fee based, where each trade was as much as $500, This was changed several years ago with the consent of the advisor.
No reason was given and maybe more than 15 years with the same advisor, we did not even receive a call.
This to an 86 year old with more than 30yrs with RBCDS.
Sorry, just needed to vent and assumed that it may be of interest to some of your subscribers.
Publish as per your descretion.
Thanks
Thomas