Georgeson Securities Corporation

See my previous complaints regarding the alleged 11/1/2019 odd lot sale of 7 shares of Brighthouse Financial. After receiving the undated "Duplicate" 1099-B on 1/15/2021 without the "reissued" $272.79 check included, we decided to wait a reasonable time for payment. (Even though, they alleged that the 11/8/2019 check mailing included the IRS required 1099-B.) On 1/5/2021, it was confirmed that the 11/8/2019 check was never cashed- following that logic, the 1099-B with it was never received.
Today, 2/9/2021, over 5 weeks later, still no check. When I spoke with an employee to request this along with a letter of explanation for the IRS, I was told that TWO checks were issued and one was cashed! These identical checks were allegedly issued on 11/8/2019 and 11/25/2019 and the 2nd one was cashed at some unknown date. Both checks were sent to the correct address. I have requested a copy of both sides of the cashed check, a copy of the ORIGINAL 1099-B, and the afore-mentioned explanatory letter to attach to my tax return.
I'm told that it will take 7 business days for the "investigation", after which I will receive "correspondence". I mentioned this string of complaints ON THEIR OWN SITE which have generated no company response. All the prior ones seem to have responses. I will hold off on filing any further complaints (SEC, BBB) pending the promised follow up.

Please note, my failure to note ALL of the activites that we have taken in regard to th11/8/2019 sale, are this new year, 2021, not 2020. (The preceeding 2 reviews.)

This is a follow up to my 1/5/20 review. STILL no payment, but a 1099-B for the alleged 11/8/2019 sale marked "DUPLICATE" was received on 1/16/2020. Conveniently, the 1099-B is undated and there is no postmark required as it was in a Computershare presorted-paid business envelope. When, and if, we ever receive our "reissued" check, it will apparently be less almost 9% for "processing fees", not even considered deductible sales costs? (Per comments from other earlier customer complaints).
We have concerns that the proceeds from these small odd lot shares sold by Georgeson through their unsolicited overtures, never reach the shareholders. As mentioned in my 1/5/20 review, we only caught this when we went to our account to sell our Metlife ("parent" to the Brighthouse spinoff.) We didn't remember selling anything but the partial share required to be sold at the time of the 2017 spinoff; however, we were not sure.
The very least they owe customers in these situations is an explanatory letter we can submit to the IRS to explain our now belated filing.

As part of a Metlife spinoff, we held 7 shares of Brighthouse Financial. Apparently, we were solicited by Georgeson via mail to OK selling these during the Fall of 2019. We never received anything and only realized our 7 shares were missing on 12/23/2020 when we accessed our Computershare account to sell these shares along with our Metlife stock.

Today, 1/5/2021, Computershare transferred me to Georgeson as supposedly these shares were sold by them on 11/4/2019. The Georgeson rep was very professional - confirming this sale and also noting that our check was never cashed despite having the correct mailing information on record. He said that there was only one mailing - our tax info. was included with the check. He is reissuing our check and sending me the necessary tax documents, which will certainly complicate our income tax situation.

We are only reporting this, as small odd-lot sales which Georgeson was handling for Computershare would be easily overlooked if a company failed to follow through on their obligations. Hopefully our experience was unique.

Complaint: [redacted] I am rejecting this response because: I have spoken to GEORGESON SECURITIES in October as they said.I began the SALE OF THIS STOCK THROUGH THEM: SEPT 20, at which time I was told I would receive $per share , minus $per share too sale(TOTAL STOCKS TOO SALE: SHARES)After that date : they sent me correspondences regarding additional items needed to constitute my legal rights as heir/thru WILL ETCInstead of notifying me thru one correspondence (WE /GEORGESON SECURITIES and I, SPOKE MANY TIMES ON THE PHONE AND THRU THE WRITTEN CORRESPONDENCES SUCH AS REGULAR, REGISTERED MAIL AND EMAIL.) THEY HAD SEVERAL OPPORTUNITIES TOO INFORM ME OF ALL DOCUMENTATION AT ONE TIME INSTEAD OF "LETTER BY LETTER THROUGH REGULAR MAIL." WHICH TOOK SEVERAL MAILING AND CAUSING A DELAY IN THE SALE OF THE STOCK I FURTHER EXPRESS THIS CONCERN OF THEM " SANDBAGGING " THE SALE SINCE THE ORIGINAL LETTER THEY SENT ME WAS DATED IN JULY, (no day) This program was started back then and instead of contacting me back then they sent it out to address on file (which is correct) and I immediately called them speaking to STEPHANIE then guy named RICHARDI DID NOT RECEIVE LETTER UNTIL SEPT20, CUT OFF WAS DUE JUNE 23, OCTOBER 13, I spoke to a new person there: HONET P [redacted] by phone in which I informed them that I HAD THE LAST DOCUMENT THEY ASKED FOR: MADALLION SIGNATURE, proving beyond a shadow of a doubt MY LEGAL RIGHTS.I SENT THE ORIGINAL MEDALLION SIGNATURE BY REGISTERED MAIL ON SAME DATE ( Oct13, 2016) AND HAVE NOT, ON THIS DATE : OCT 19, heard from them yet.They are trying too : move forward the date I requested too sale due to the PUBLIC STORAGE STOCK dropping in market valuesI HAVE PROOF THEY RECEIVED MY REQUEST TOO SALE: SEPTEMBER 23, REGISTERED MAIL RECEIPT WITH A RETURN RECEIPT REQUESTED.I JUST WANT TOO SALE AT THE PRICE I WAS ORIGINALLY TOLD THEY ARE ILLEGALLY TRYING TO CHANGE DATE I PROPOSED I WAS GOING TOO SALE Regards, [redacted]

Complaint: ***
I am rejecting this response because:
WE DID NOT RECEIVE THE IN A TIMELY MANNERTHE COMPANY TOLD MYSELF AND MY WIFE CONFLICKTING DATES AS TO WHEN THE WAS MAILED*** *** OFFICE ALSO RECEIVED THE RUN AROUND AS TO WHEN THE WAS /TO BE MAILEDTHE
COMPANY LIED TO US AS TO WHEN IT WAS MAILED AND ALSO LIED TO US WHEN THEY SAID WE DID NOT NEED THE TO FILE OUR TAXESHOW CAN A COMPANY DO THIS WHEN COLLEGE APPLICATIONS AND THE I.R.SIS AT STAKE? NOT GOOD CUSTOMER SERVICE AND NOT GOOD PHONE RESPONSE
Regards,
*** ***

This company has been calling my home about times a night starting at p m They are asking personal info to find someone in my household I do not give this info over the phone I told them to send me a letter about this They record every conversation I did too I told them cease and desist from their nuisance calls and stop interrupting our dinner time They still continued to call It is a person and not a robo call

I was contacted by Georgeson llc about stock that my parents held and I inherited yrs agoI had never updated the info on this account to my nameThey were asking if I wanted to sell or just update the informationI opted to update the informationI thought that they were part of the OGE stock companyI did not realize that they were a separate entityThey sold my stocks and took a feeWhen I called saying I did not want to sell they told me that they did this and in 6-wks I would be issued the remainder of stock in my nameI thought updating would just be a process requiring no feeThis company is slick and I am stupid

on sept I was contacted by Georgeson Securities (here after GS stands for Georgeson Securities) by a letter dated July 2016-(no day )regarding Public Storage Stocks (shares) which due to a death I am legal heir and Executor of the WillName of deceased: *** ** *** *** My 2nd contact was a telephone call to GS customer services STEPHANIE S*** * *** ***There was a due date of: Sept23, 2016-I received letter at my regular address SEPT 20, At that time I was assured the date meant nothingShe then informed me that I had to send proof of Executorship which I returned to them by registered letterThey picked it up according to Post Office Sept 23, Unfortunately, I sent a Power of Attorney instead of Last Will and TestamentI immediately once I learned of this called and talked to RichardGot a fax number and I immediately faxed proper documentationsThey accepted it
I specified that I wanted too sale stock immediatelyI was told th

October 18, 2016 Revdex.com Serving New Jersey Attention:  [redacted] 1262 Whitehorse-Hamilton Square Road Building A, Suite 202 Hamilton, NJ 08690 Re:  [redacted]...

                                        ...⇄ Revdex.com Complaint ID:  [redacted] Dear [redacted] This letter is in response to Complaint ID:  [redacted] from the Revdex.com (“Revdex.com”) received on October 13, 2016 via electronic delivery.  Your inquiry was forwarded to Georgeson Securities Corporation (“GSC”) for investigation and reply.       GSC offers a voluntary program to establish rightful ownership of an account and to update an account records or to sell shares. On October 13, 2016 a representative from GSC spoke to [redacted] and advised that additional documentation is required to establish ownership of the account.  In order to resolve the issue, [redacted] stated he will mail in the required documents.

Complaint: [redacted]
I am rejecting this response because:
I have spoken to GEORGESON SECURITIES in October as they said.I began the SALE OF THIS STOCK THROUGH THEM: SEPT 20, 2016 at which time I was told I would receive $217.00 per share , minus $9.00 per share too sale. (TOTAL STOCKS TOO SALE: 74 SHARES)After that date : they sent me correspondences regarding additional items needed to constitute my legal rights as heir/thru WILL ETC.. Instead of notifying me thru one correspondence (WE /GEORGESON SECURITIES and I,  SPOKE MANY TIMES ON THE PHONE AND THRU THE WRITTEN CORRESPONDENCES SUCH AS REGULAR, REGISTERED MAIL AND EMAIL.) THEY HAD SEVERAL OPPORTUNITIES TOO INFORM ME OF ALL DOCUMENTATION AT ONE TIME INSTEAD OF "LETTER BY LETTER THROUGH REGULAR MAIL."  WHICH TOOK  SEVERAL MAILING AND CAUSING A DELAY IN THE SALE OF THE STOCK.  I FURTHER EXPRESS THIS CONCERN OF THEM " SANDBAGGING " THE SALE SINCE THE ORIGINAL LETTER THEY SENT ME WAS DATED IN JULY, (no day)  2016. This program was started back then and instead of contacting me   back then they sent it out to address on file (which is correct) and I immediately called them speaking to STEPHANIE then guy named RICHARD. I DID NOT RECEIVE LETTER UNTIL SEPT. 20, 2016. CUT OFF WAS DUE JUNE 23, 2016. OCTOBER 13, 2016 I spoke to a new person there: HONET P[redacted] by phone in which I informed them that I HAD THE LAST DOCUMENT THEY ASKED FOR:  MADALLION SIGNATURE, proving beyond a shadow of a doubt MY LEGAL RIGHTS.I SENT THE ORIGINAL MEDALLION SIGNATURE BY REGISTERED MAIL ON SAME DATE ( Oct. 13, 2016) AND HAVE NOT, ON THIS DATE : OCT 19, 2016 heard from them yet.They are trying too : move forward  the date I requested too sale due to the PUBLIC STORAGE STOCK dropping in market values. I HAVE PROOF THEY RECEIVED MY REQUEST TOO SALE: SEPTEMBER 23, 2016. REGISTERED MAIL RECEIPT WITH A RETURN RECEIPT REQUESTED.I JUST WANT TOO SALE AT THE PRICE I WAS ORIGINALLY TOLD.  THEY ARE ILLEGALLY TRYING TO CHANGE DATE I PROPOSED I WAS GOING TOO SALE.
Regards,
[redacted]

Review: After several phone calls where the Company told my wife different answers every time .The company said they would mail our 1099 on Friday February 13 2015. On the 17 th we have still not received the 1099 . While my wife was on the phone with them they stated we did not need the 1099 to file our taxes. The person who does our taxes states she needs the 1099 to file ,she has done our taxes for 30 years why would she lie about this? This company said the 1099 has now been mailed on 02/17/2015. I understand we should have received our 1099 by the 17th not mailed on the 17th if in fact they have actually mailed the 1099 as they have told my wife different stories all along. How come this company gets by with telling people different stories and leading them along?Desired Settlement: All we want is our 1099 delivered to us. Is that too much to ask? It should have been here by now.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

WE DID NOT RECEIVE THE 1099 IN A TIMELY MANNER. THE COMPANY TOLD MYSELF AND MY WIFE CONFLICKTING DATES AS TO WHEN THE 1099 WAS MAILED. [redacted] OFFICE ALSO RECEIVED THE RUN AROUND AS TO WHEN THE 1099 WAS /TO BE MAILED. THE COMPANY LIED TO US AS TO WHEN IT WAS MAILED AND ALSO LIED TO US WHEN THEY SAID WE DID NOT NEED THE 1099 TO FILE OUR TAXES. HOW CAN A COMPANY DO THIS WHEN COLLEGE APPLICATIONS AND THE I.R.S. IS AT STAKE? NOT GOOD CUSTOMER SERVICE AND NOT GOOD PHONE RESPONSE .

Regards,