Radian Partners

I have a retirement account with Radian partners. For some months I have tried to liquidate it without success.I have a retirement account with this firm. I have wanted to have it transferred/liquidated for months. I am not receiving any cooperation from the firm. I receive inconsistent reports on whether the account can or has been liquidated. I receive inconsistent reports on when the liquidation/transfer can be effectuated. I receive inconsistent reports on the status of the account. Some representatives claim they don't understand the process. Others promise to send me email communications and fail to follow through. The firm has not cooperated with State Farm representatives in clearing the paperwork to effectuate the transfer. After many telephone calls, I still have no explanation as to the precise status of the account is or what needs to be done to effectuate the transfer. Today, I was told it may take a week to determine the status of the account.Desired SettlementAs above, I simply wish to know 1. The exact account balance. 2. What portion if any, has been liquidated. 3. What portion can be transferred to State Farm. 4. When the transfer can be completed. 5. What fees are associated with the transfer.Business Response None of this information is true at all. Dr. [redacted] receives monthly statements and therefore knows his account values. He has received no conflicting information but he won't listen long enough to hear a thorough and complete answer. None of our staff ever said they don't understand the process as we have very experienced professional staff here. He was not told it would be a week to verify the status of his account, he was told it could take about a week for cash part of the account to transfer once State Farm submitted the proper transfer request. He has not been trying to move these for months, and was informed in detail by [redacted] the below information. Unfortunately, Dr. [redacted] is attempting to lay blame on us when he should lay blame for lack of information and incorrect paperwork being submitted to our firm by his current advisor, State Farm.Complaints are taken very seriously and the proper authority over securities accounts is FINRA. He also filed an incorrect complaint there and this complaint has been handled and cleared already. You can see below the very thorough response to that complaint that details everything that has been done to assist him, but all fault is with his current advisor at State Farm.1. Dr. [redacted] accounts came to us when we purchased a book of business from an LPL representative in 2013. That rep is now with State Farm and has been gathering some of those clients to move to State Farm.2. Dr. [redacted] started moving accounts in 2014 and we went through the same issues with him back them, basically due to the fact that his State Farm rep is not explaining things to him and they have produced incorrect paperwork several times.3. We informed him in 2014 that his REIT, Industrial Income Trust (ITT), cannot be liquidated by us and only he could do it with quarterly redemption paperwork, and the paperwork was sent to him by [redacted] who was with our firm at the time but she is now deceased.4. In October 2015, it was announced that ITT was to be sold and the majority of the shares would be cashed out in November, and the balance would be liquidated by the buyer in the 1st quarter of 2016.5. Therefore, the majority of his account is sitting in cash and the remaining is now "Industrial income Liquating Trust" and is therefore still a non traded REIT scheduled for an upcoming liquidation.6. We have verified that State Farm cannot hold anything but State Farm mutual funds so they cannot transfer and hold this REIT.7. State Farm again submitted an incorrect transfer request to transfer approx. 12.16.15 and it was marked "all" but that would include the REIT, so it was rejected (copy attached showing State Farm made incorrect request)8. To be proactive, I sent Dr. [redacted] an email on 12.17.15 (email attached) to inform him that State Farm needed to resubmit the proper and corrected paperwork to get the cash transferred.9. Dr. [redacted] called last week multiple times, spoke to me, office staff, and my OSJ [redacted]. Frankly and as typical, he was rude, screaming, and constantly threatening me. He said he would call the Attorney Generals office and make sure they come down on me with all the power they have. He made a similar threat to [redacted] and [redacted] informed him FINRA is the proper authority to lodge his complaint.10. Dr. [redacted] asked the question "what does it take to get my account transferred" and when we try to explain he would start yelling and say don't talk over him. Basically he would not listen and would not give us the opportunity to inform him of the correct process.11. After his first call, I forwarded on 12.29.15 the original email informing him what needs to done. (email attached)12. He then called back immediately spoke to [redacted], OSJ. [redacted] was able to get him to stop yelling and making threats and [redacted] explained the same thing to him, and also wrote up instructions and [redacted]'s assistant, Laurie Edwards, forwarded it to Dr. [redacted] same day. (email attached)13. He later sent me another scolding email saying I did not do as I promised and did not send the email, so I then "cut and pasted" the email and sent as a reply to his email. He later acknowledged receiving the email. (email attached)14. State Farm finally sent in a partial transfer request on about 12.29.15 to move the cash, which is the only thing they can hold that is in the account.15. Our admin assistant [redacted] called the State Farm office as a follow up to inform them of the correct paperwork to send and that they sent incorrect paperwork the first time.16. None of the emails to Dr. [redacted] ever bounced back as undeliverable. We have done everything in our power to assist him and attempt to answer his questions, and I have told him several times that I cannot transfer his money to State Farm as he kept requesting and that he must have State Farm initiate the transfer, but it needs to done correctly. He seems to truly want to blame us and find fault for his State Farm agent sending the wrong paperwork. Again, attached is all of the backup mentioned in the notes above and I am positive you will see that we performed our duties accordingly and his issues should squarely be with State Farm.Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.)Radian partners has indicated that the matter would be resolved by January 31. I would like to hold this matter open until February 5 to see if they comply with their promises.Final Consumer Response I am following up on the complaint and the company's response. At this point, and in response to complaints filed with the Revdex.com and with FINRA, (an complaint resolution entity) part of the account has been liquidated and transferred to another financial advisor. However, and contrary to prior written representations, the liquidation of balance which was to have taken place by the end of January of this year, has not taken place and I am told that it will be put off until some indefinite and undetermined date in the first quarter of 2016. This then represents yet another of miscommunications (or worse) that has complicated the relationship with Radian.Final Business Response One person in our office did indicate they thought the balance of Dr. [redacted] investment could be liquidated in Jan 2016, but updated information has been provided that the investment company expects sometime in 2016, but no specific date has yet to be set.. Radian Partners has nothing to do with this investment he owns and all information has been provided. Dr. [redacted] should communicate with his current advisor with State Farm to get investment advise and updates related to all of his investments. We do not control when this non traded investment will liquidate in any aspect. He purchased this investment through another advisor, not through any advisor here, and hopefully he was educated at the time he bought the investment as to how it works, and how it could potentially liquidate at a future time, and the fact that it is non liquid and non traded. Also, Dr. [redacted] receives mail and information and updates directly from this investment sponsor so he should read those valuable communications to keep up to date on his investment. We have cooperated and answered this Revdex.com complaint in the spirit of cooperation even though the entire scope of investments is out of the purview of any Revdex.com organization and is within the scope of our industry regulators.