Charles M Wadro sent a message to Abigail Johnson that said:
Client since 8/2018. I brought over accounts from TD Ameritrade (client for 35 years) and Wells Fargo Advisors (client for 25 years) to your office at Town Square, Jacksonville, FL. Why? One reason..The opportunity to purchase corporate bonds on my own at a disclosed and reasonable rate. Thanks for that but I have to tell you, you are not presently set up to accommodate the individual bond investor! Your Third Party provider who is supposed to update portfolio positions after the close of business daily is a joke. You need to get out of that Agreement! Why do I have to wait until midnight or even later than that every single night to see how I did the previous trading session? And the answer from the Fixed Income Desk to what they all know to be an issue? "Well, we do have your cash position updated at all times!" Really? And why in G-D's name must you restrict individuals buying thousands of dollars of bonds on a daily basis from a whole host of securities your lawyers deem too risky? I am 74 and have been doing this since 1991.
I don't need them to tell me what the heck I am doing! Tell your legal Department to redraft your Client-Broker Agreement if need be to further cover their butts, but let us take care of our own investing. I do not need to be questioned on what I am buying with an account like I have! It is ridiculous. And then, once I get the ok to put in an order, and I want to add more shares? I have to call up again on the same company and cusip. Ms. Johnson, are you aware that any of this is going on? I highly, highly doubt it. I have tried speaking to a number of your Managers, hoping to effect changes that EVERYONE in the Fixed Income Department knows are long overdue. Managers do nothing. Nothing. You are so big that nobody wants to say a thing. It is very sad and I would have left long ago if not for the ability to buy these bonds at $1 per. As soon as someone else decides to do likewise, I'm gone and so will a hell of a lot of other customers. This says I am contacting you, personally. We shall see. Are you aware that this third party account maintenance service cannot even provide in session updates on an immediate need to know basis? TD Ameritrade..You hit the "Refresh Button" in a matter of seconds, it's been updated. You have got to get rid of that service! And finally, I absolutely sense that everyone who I've met has the fear of G-D in them working for you. I guess in today's World, that is to be expected. But, it is very, very sad. The lawyers have taken over everything including your company.
