Consumer complaint received 2022-12-20 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: WELLS FARGO & COMPANY
State: NJ

Complaint narrative:
On XX/XX/XXXX we contacted advisor XXXX XXXX at Wells Fargo for help with an XXXX  and he directed our XXXX son to open an intuitive account. Our son had no understanding what that meant, and it landed him into a robo trading account where we caught it was trading the $ XXXX. We immediately contacted XXXX and he claimed there was nothing he could do, and we need to contact client support on XXXX where they agreed to sell the account. However, they refused to close the account or move it to a proper XXXX shell account. They have had us come in now twice to have documents signed and notarized. We have a case with a XXXX XXXX who claims the forms she sent over for us to sign to finalize the XXXX  transfer over a month ago are now incorrect after several trips to a XXXX branch to have the licensed advisor XXXX XXXX validate the forms are really not equipped to support clients with legal document proofing. 


Below is an email we received on XX/XX/2022 Please accept my apologies again for the less than desirable experience you have encountered thus far as it relates to a smooth and successful XXXX XXXX XXXX Account ( XXXX  ) opening. As I XXXX have stated during XXXX of our phone conversations, our XXXX Advisors are not experts with the account opening procedures and they are probably even less informed with maintenance documents required once an account is opened. 

XXXX XXXX ext XXXX I was reviewing your situation today and found that the paperwork we do have that would allow you to trade on the XXXX XXXX  is not in good order and unfortunately at least XXXX form will need to be notarized again due to that form not containing your Drivers License identification information and phone numbers. All fields of the Third-Party Authorization and Indemnification ( TPAI ) Form are required to be filled in. Additionally, this form is required to be accompanied by a XXXX Account XXXX XXXX. 

I have pre-filled both forms for you and they are attached to this email. All we will need is to have section XXXX on the XXXX form completed and we will need to obtain the appropriate signatures and notarization. I did try to see if we can receive an exception for these requirements, however, due to the end of the year workloads each of our departments are experiencing right now, I dont think I will receive an answer very soon and even if we do receive an answer in the next few days, I dont expect that they will XXXX the exception. The XXXX Account XXXX form will require your signature. 

As always, if you have any questions, please do not hesitate to contact me at XXXX ext. XXXX. I will be leaving the office today at XXXXXXXX XXXX. XXXX XXXXe, but I will be available tomorrow morning at XXXXXXXX XXXX XXXXXXXX XXXX. I did have maintenance performed on my work phone application the other day ; it appears to be working now. 

Thank you for your patience and understanding,

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation