Can an investment company legally make inheritor's of stock by a parent open new accounts and charge a fee?

A parent dies leaving adult children her retirement stocks. The company where the stocks were invested is stating the only way that the children can get their inheritance is too open all new accounts for each adult child and charging them 1% to do it. This doesn't seem fair at all. What options are they intitled to free of charge?

I think you should get a lawyer. This sounds shady to me.

If they want to retain the investments in-kind (without making any changes) then I suppose this could be correct as the stocks couldn't remain inside an account for the deceased individual(s). The alternative would be to just sell the investments and take cash but there would likely be sales charges on that too.

Tags

　　Investment Company 　　Investment Calculator 　　Investment Bank 　　Investment Advice 　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund

Related information

How do i earn interest on my bank account ?

If you are not getting enough interest, there are two possibilities: you have the wrong type of account, or you don't have enough money in your account to generate a significant interest. ...

What are some investment ideas for short term{1 Year} with $20K?

Consider the Vanguard Prime Money Market Fund with a current compound yield of ~4.7% APR. ...

What can I do about a divorce settlement concerning an investment rollover?

I would report the investment company to the Federal Securities and Exchange commission. Next time, use a no fee company such as "Scottrade". send me a message with more details if you...

Can anyone help me pls. Need an advice 4 a client who's considering investment options.?

obtain published accounts of PLS thru the PSE website and individually thru the company's websites for more detailed infos. a memo report: find out what the ratios are for, for examp...

How do i get a part time job or something like that at an investment bank?

you apply for it!

...

Accounting question - How do I post an entry for a loss on my investment?

Dt - Loss on sale of investment (asset) - INCOME STATEMENT OR Dt - Capital - BALANCE SHEET AND Kt - investment (asset) BALANCE SHEET I'm not sure about the tax implications in ...

What would be the best kind of short term investment for a beginner?

If you are interested in a retirement account for yourself, I recommend a Roth IRA. The deadline for your the tax year 2006 is April 17th. The maximum contribution you can do is 4000.00 dollars for...

What is the best type of investment ??

IRA I really like the pipeline companies safe boring stable TPP, ETP, SUG. TPP pays a high dividend nearly, SUG has strategic pipelines in Florida and ETP pipelines out west. My other cheap, safe...