Tracing missing funds

crisp

Asking this on behalf of a friend.

To cut a long story short - in August he sold £10k worth of USA via his broker TD Waterhouse (I think). He had held these shares with them since 2012 when working in the States. About 2-weeks later the money showed up on his Barclays account in the UK.

6-weeks ago he sold £50k worth of shares using the same procedure. The money hasn't shown up on his Barclay's account and it hasn't bounced back to his TD Waterhouse account and he is having difficulty getting anywhere with either.

Any advice on how he should pursue this gratefully received.

ColdIron

Phoning TD Waterhouse suggests itself

redpete

I don't see any point in contacting Barclays until tdw confirm the sale and where they say the money should be. What do tdw say?

crisp

As I understand it, he went to visit his barclays branch on 5 occasions over the last 4 weeks.

He is seeing different people there. Sometimes they write down notes and at other times just listen. The people he sees are clueless and I am not surprised.

I suggested he contact TD (not sure if he can contact the UK arm), but he tried the USA one holding his account and as the money has not been returned to that account they didn't seem too concerned. He's asked for confirmation of the stock sale and transfer but nothing has been forwarded. Its proving difficult to get through to them.

Its got to the stage where he doesnt care on which account the money shows up just as soon as it does.

He was very low and isolated when I spoke to him this week as he needed these fund to support the cash flow of his business and now it looks like he will need to make two people redundant.

As he has a history of heart and blood pressure problems (GP has put him on medication and advised bed rest), I thought I could shed some light on it and put his mind at rest.

Just wondered if anyone has come across such circumstances before or whether the amount £50k would trigger some kind of USA freeze on the transfer.

I will suggest he speak to TD in the UK as it may move things along.

EdGasketTheSecond

TD in the UK are no more; they are Interactive Investor. Good luck with that; they are overwhelmed with transfers out at the moment.