Columns

March 20, 2007 

Re: R. Hager Estate, Account #xxxxxx 

To Whom it May Concern: 

I am forwarding you the enclosed paperwork at the request of Cassandra Yeman. 

Today’s phone call was one of many interactions I have had with your company in the past six months. Each time I speak to a representative I get different instructions on how I am to close my deceased husband’s account. In October I was told to download the forms from the E-Trade website. I called back because I had questions. After being transferred numerous times, I was put in touch with an “expert” on account closure. We went over the information. The forms she was using were different from those I had downloaded, but she said it did not matter, that they were essentially the same.  

A few days later I spoke to another representative to confirm that I had completed the information correctly. Her name was Sheri Medina. Among other changes, she informed me that the company address listed on the paperwork was wrong. Perhaps you should remove 10911 White Rock Road Rancho Cordova, CA from your website. 

I sent a death certificate and notarized information to you on Nov. 13. I heard nothing, so I called your company in January and was told that the paperwork was in process and I would be receiving a check soon. I called again today because it has been two months and I have not received the funds. I was informed that you needed a new notarized Letter of Instruction because the original notarized Letter of Instruction was worded incorrectly. Additionally, a new account must be created in my name in order to close the old account.  

I get the distinct impression that no one in your company wants to close an account, or knows how to do so. 

I hope the enclosed paperwork and letter from my lawyer will put an end to this dilemma and that I will receive my husband’s funds soon.  

Sincerely, 

Susan Parker 

(Response letter received April 12, 2007) 

Hello Mrs. Hager, 

Please notarize the form and also fill out the individual account application in order for us to transfer the account in your name. 

Thank you. 

Cassandra. Yeman 

April 13, 2007 

To Whom It May Concern: 

What kind of company sends out four new forms to an individual and asks them to get one of them notarized but does not specify which one? Who sends out a business letter that is not dated, has no return address, and does not have a contact telephone number so that one can follow up? How do I get in touch with Cassandra Yeman to learn how to complete the new forms she has sent me, and to determine which form to notarize? Why is there a period after Cassandra? 

Today I spoke with Olive Martin. She said it didn’t matter which boxes I checked in the enclosed Investment Account Application. She instructed me to complete the forms, notarize the Declaration, and send it to the general E-Trade mailbox. Upon receiving the paperwork a new account in my name would be created. I could then withdraw the money by calling E-Trade. 

Please forward my complaints to Mr. E-Trade. Tell him that the message on his company answering machine about avoiding excessive paperwork in order to save the environment is ludicrous, and that only the first half of the E-Trade marketing slogan, We Keep Challenging the Ordinary to Help Investors Be Extraordinary, is correct.  

Sincerely, 

Susan Parker  

P.S. Please see Trust, Estate, and Conservatorship Account Application (pages 9 and 11), Letters of Instruction (1 and 2), Death Certificate, Investment Account Application (pages 1 and 3), Affidavit of Domicile, March 20, 2007 letter, and Declaration (from lawyer) for the correct spelling of my name. Thanks!