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Please help me sort out a share dealing company

8 replies

PrincessLayer · 22/05/2009 15:53

Hello, long time lurker, first time poster.

My dad died a year ago. In his will I was left all the shares he held in various companies (gee, thanks dad).

My mum didn't really want to be sorting all his stuff out so I got probate, and shortly after that I got married.

I sent all the documents to the share dealing company (They manage several of the share holdings my dad had).

As yet the shares are not registered in my name (Lots of paperwork to go through yet to find the certificates).

I get occasional dividend cheques from the shares. HOWEVER....

Sometimes they send documents in my maiden name to my dads address.
Sometimes they send documents in my maiden name to my address.
Sometimes they send documents in my married name to my address.

I've written several times and phoned but I can't get any sense out of them.

I returned 5 dividend cheques a few weeks ago (They were in my maiden name so I can't cash them). They returned 3 each minus £11.50 re-issue fee in my married name. The other 2 are still missing.

Their argument is that they have to address the cheques to the person on the probate document, and even though they have seen my marriage cert it is not enough (?!?!), however this doesn't explain why they send things to my dads address when my address is on the probate.
I also argued that as they have re-issued cheques in my married name there is no reason why they can't send them that way in the first place, but I'm not getting anywhere and am just getting more angry and upset.

Please, can anyone give me something I can say to them? Logic doesn't seem to be working and I'm getting beyond frustrated.

(I also have shares with another one of these companies, who have been more than happy to accept my marriage certificate, and everything is sent correctly)

Sorry if this is a bit long but its been going on for months and my tether is reaching an end!

OP posts:
bigstripeytiger · 22/05/2009 15:57

I dont know much about the share company apsect, but could you have your maiden name added to your bank account as an alternative name that you use?

giddykipper · 22/05/2009 16:01

I think it's worth a formal complaint letter to head office. It's highly insensitive of them to be still sending things to your dad when he's died.

PrincessLayer · 22/05/2009 21:28

I'll have to have a word with the bank. They won't let me cash cheques in my maiden name anymore. I wish I'd left an account in my maiden name now. At least I could cash the cheques while I'm being messed about.

What infuriates me is the pure inconsistency of it all. If they got it wrong every time then I can assume that they have some strange policy that refuses to see a marriage certificate as a legal document, but as a few things do turn up addressed to Mrs X rather than Miss Y I really don't know what they are doing...and nor I suspect do they.

My mum is writing to them this weekend. I'm waiting for someone to ring me on Tuesday....

OP posts:
Notquitegrownup · 22/05/2009 21:33

No expert here, but when you are next in touch with them, ask whether they are regulated by the FSA, and ask for their FSA number if so. They regulate some financial bodies and may be able to advise you . . .

giddykipper · 22/05/2009 21:43

They will be FSA registered but in my experience the FSA are pretty useless.

giddykipper · 22/05/2009 21:45

The other thing you could do is tranfer the shareholdings to the other broker that you use who have been happy to accept your marriage certificate.

EvenBetaDad · 22/05/2009 21:53

I use Stocktrade as my broker. Their admin departemnt is excellent.

The people that are supposed to have your correct detail sare the Registrars who hold the share register. There are not many Registrar companies. The broker is supposed ot send them the right details.

It is not on to have dividends isused like this. You are the legal owner. The legal transfer has taken place but someone messed up the details.

It is not your fault. They messed up.

THE COST AND CHARGES NEED TO BE REFUNDED TO YOU.

The FSA will help. Brokers messing up like this are usually sanctioned.

PrincessLayer · 27/05/2009 00:13

Tuesday appears to have been and gone and no sign of the promised phone call.

I suppose I'll have to phone them tomorrow, however I'm going to look into the FSA and consider an official complaint, and see about using another company if that is possible.

Thanks for advice.

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