who do i complain to with regards to an investor service?

traybee09

My mum has quite a few shares with an investor service who are the middel man for saisburys..(?) my dad died and she wants the shares put into in her name...now you would think it would be very straight forward...NO!
she has been trying to sort this since dec 08! she has done what they have asked which is PAID a fee for £60 in jan 09..and numerous forms sent including last will and testament and death certificate and forms signed by her solictior. Ok, a letter of complaint has been sent to the investor sevice.. but all they said was they now want a further £33 for admin and all the past certificates???? :mad:and more forms to be filled out. All i want is a body who i can report them to or atleast find out if these are normal steps just to get your name changed on your husbands shares if he has passed away??

dunstonh

You complain to them via their internal complaints process. If you are not happy with their response when they finalise the complaint you can then refer it to the financial ombudsman service.

It can take a while for certain investments to be signed over. They have to make sure probate etc is sorted and that they are really dealing with the executor of the estate.

Is your mum the executor of the estate or is someone else? It is normally the executor that deals with this and if that isnt your mum, then that could be part of the problem.

Were the shares held on a nominee service or were they the traditional share certificates? It sounds like the latter. In which case, they would need them.

traybee09

Thank you for your help.
my uncle is the executor. They have been dealing with my mum so far..and at the bening said it would not be a problem as long as her solictor counter signed the will and death certificate.
And they are share certificates and quite a few.. its a shame they didnt make this clear in december when they asked for all the other info!
I have sent a complaint to the manager of the company...and this is when they returned a letter wanting more money and the certificates lol. Quite stressfull for my mum as you can imagine..
Thanks again for your help

dunstonh

The fact your mum is trying to do it could actually be complicating matters. Technically, they shouldn't really be corresponding with her. At the moment, the shares are the property of the estate and the person that should be dealing with this and who they should be discussing this with is your uncle.

traybee09

Thanks i will get in touch with him.