- Report: #807609
Complaint Review: Daniel Ford Green - Wells Fargo Advisors LLC - Charlottesville Virginia
Reported By:
Glennr1 -
Lake Alfred, Florida, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Daniel Ford Green - Wells Fargo Advisors LLC
100 E South Street Charlottesville, 22902-5215 Virginia, United States of America
Phone:
434-296-7185
Web:
https://www.wellsfargoadvisors.com/
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Daniel Ford Green - Wells Fargo Advisors, LLC Daniel Green was caught churning my 86 year-old mothers account - refused my POA when I (her son) stepped in. Charlottesville, Virginia
On October 9, 2011 my 86 year old mother was admitted to the hospital in a life threatening condition. As her Power of Attorney I started going through her bills to make sure they were being paid. I ran across a Wells Fargo Advisors, LLC statement and noticed that my 86 year old mother had just made a large purchase of stock in Merck Pharmaceuticals. This threw up a huge red flag, and I started investigating.
The advisor on the account was listed as Daniel Ford Green. I contacted him and gave him a copy of my Power of Attorney. I was later contacted by phone and Wells Fargo Advisors stated that they would not honor my POA. The more I dug through my mother's statements the more I found. Wells Fargo Advisors had acquired her account when Wells Fargo took over Wacovia.
I have now reviewed statements all the way back to early 2005. The portfolio objective was, and still is, listed as "conservative growth". From early 2005 through early 2009 neither of my mother's previous advisors made any changes to her portfolio. That account was set up prior to my father's death. My mother knows little to nothing about securities and investing.
Within a few months of taking over my mother's account Mr. Green drained the cash out of her account and started making trades in order to make large commissions. In less than 2 years he made over $62,000.00 in trades taking her from a very conservative portfolio to a high risk portfolio with almost no cash left in the account at any time.
This man is a predator who preys on the elderly to line his own pockets. It's my understanding, from speaking to one of my mother's previous advisors, that Mr. Green has dozens of elderly clients under his advisory. He needs to be stopped.
The advisor on the account was listed as Daniel Ford Green. I contacted him and gave him a copy of my Power of Attorney. I was later contacted by phone and Wells Fargo Advisors stated that they would not honor my POA. The more I dug through my mother's statements the more I found. Wells Fargo Advisors had acquired her account when Wells Fargo took over Wacovia.
I have now reviewed statements all the way back to early 2005. The portfolio objective was, and still is, listed as "conservative growth". From early 2005 through early 2009 neither of my mother's previous advisors made any changes to her portfolio. That account was set up prior to my father's death. My mother knows little to nothing about securities and investing.
Within a few months of taking over my mother's account Mr. Green drained the cash out of her account and started making trades in order to make large commissions. In less than 2 years he made over $62,000.00 in trades taking her from a very conservative portfolio to a high risk portfolio with almost no cash left in the account at any time.
This man is a predator who preys on the elderly to line his own pockets. It's my understanding, from speaking to one of my mother's previous advisors, that Mr. Green has dozens of elderly clients under his advisory. He needs to be stopped.
2 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
GLENNR1, YOU CAN CONTACT ALL OF YOUR LOCAL NEWS STATIONS......
#2Consumer Comment
Fri, February 24, 2012
and send them a copy of your Ripoff Report and put it to the attention of 'Investigative Reporter'.
Maybe one of them will contact you and do a story on TV. If this happened to your mother, then it would be safe to assume that it is happening to other elderly people, right? If an Investigative Reporter at a Local News station did a story on TV, it would alert others about what might be taking place in regards to their money.
Just send an email to all of your Local News stations in your city and include a copy of your Ripoff Report. It would be a good idea to send copies through the mail too. If you are contacted and someone decides to do a story on TV, let us know so we can watch it on the web.
Good luck.
P.S. Make sure to send a copy of your Ripoff Report to the CEO of Wells Fargo so he knows what is happening. Simply 'Google' this- WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010, and watch that 4 minute video on the web.
The CEO of Wells Fargo appears towards the end of that video. Get his name and send him a copy of your Ripoff Report to Wells Fargo's corporate headquarters immediately.
Glennr1
United States of AmericaUpdated Information
#3Author of original report
Thu, February 23, 2012
The person with Wells Fargo Advisors who was my "complaint resolution specialists" within Wells Fargo Advisors Law Department, Christopher T Digirolamo, seems to have legal issues himself. That is if my search of Madison County, IL court records at http://www.co.madison.il.us/circuitclerk/eMagnusLite.shtml and St. Clair County, IL court records at http://www.circuitclerk.co.st-clair.il.us/icjSearch.htm reveal records of the same person.
Now I am finding that the Wells Fargo Advisor, Daniel Ford Green, who was the advisor on my mother's account filed for chapter 7 bankruptcy in federal bankruptcy court on 10-28-2010. The case was finalized on 2-9-2012.
I think this reflects on both the motive for what I see as unwarranted trades on my mother's account for the sole purpose of generating commissions and the cover up Wells Fargo Advisor's legal team has launched to hide the facts.
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