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June 6, 2008 at 11:10 am #587144
yikesMemberI have just been treated really shabbily by UBS financial services, after their managing my money for 10 years. Is there an advocacy group that can help support me trying to get a fair shake from this behemouth? I’m also a senior and the money they cost me is small to them but big to me. And they don’t care. They’ve called in their lawyers. I can’t sleep I’m so mad and distressed!
June 6, 2008 at 3:29 pm #626755
flowerpetalMemberI would start my search with a call to the Mayors Office for Senior Citizens. They are very helpful and knowledgable about advocacy organizations for seniors in Seattle. You might also find some other services there that interest you. Their telephone number is 684-0500. You will likely speak to Katheryn; and if it isn’t her, others are helpful – but you can always ask for her specifically. Good luck!
June 6, 2008 at 3:45 pm #626756
charlabobParticipantGreat resource, flower — it’s especially useful to have contact info for a real person.
AARP has great advocacy services as well and (I hope) you’ll want to make your experience public so others can avoid the same thing — AARP is especially good at that.
ALSO, make reports to the Better Business Bureau — I don’t know if people think of them, but I always look up anybody — employer, vendor — whatever — to see the buzz.
June 6, 2008 at 6:18 pm #626757
KenParticipanthttp://www.msnbc.msn.com/id/24844889/
A bit of useful info re UBS.
Perhaps a fellow senior citizen will be interested in your difficulties? Senator McCain seems to have a direct pipeline to the UBS vice chairman.
After Gramm passed a law easing regulation of energy-commodity trading, California experienced a sharp run-up in energy costs. The energy-trading company Enron was blamed and soon collapsed.
In 1999, Gramm successfully undid the Depression-era Glass-Steagall Act, removing the decades-old wall between commercial banking, which was heavily regulated, and investment banking, which was not. The Gramm-Leach-Bliley Act did not extend significant new regulation to investment banking.
McCain spokesman Brian Rogers said that Gramm is “not benefitting from John McCain’s plan.” He also said that McCain preferred to focus on homeowners “truly in need” and opposed bailouts for affected banks, an aspect of the crisis that was not addressed in “Countdown”‘s report.
June 6, 2008 at 11:19 pm #626758
JeannieParticipantSorry to hear about the problems with UBS. I do hope your calls get positive results. You shouldn’t have to be up against UBS’s well-paid lawyers. Definitely maddening. By the way, was this a particular UBS office?
P.S. Good article, Ken.
June 7, 2008 at 3:09 am #626759
yikesMemberHi everyone… just an update… I talked t the Mayor’s Senior Advocate and they sent me to the Attorney General’s office, where I made a formal complaint. I’m also going to engage with AARP and consumer advocates. This should not happen to anyone… everyone makes mistakes, but to sic their lawyers on me is just unacceptable. The office is in Bellevue, but I think it goes to overall corporate laxity in ethics and customer service. Needless to say, after 12 years of having them ‘manage’ my portfolio, I’m going elsewhere.
THANK YOU ALL for the support and suggestions!
June 7, 2008 at 5:22 am #626760
JanSParticipantken…Phil Gramm? ewww…
yikes…I’m so glad you’re getting some help…especially in this time when some in gov’t feel that the little person shouldn’t be helped because “you screwed up”, and are willing to extend any amount of help to the big guys….I hope you stick it to ’em…
let us know how things go as you progress…I love seeing the underdog win :)
June 7, 2008 at 2:01 pm #626761
yikesMemberJust a clarification for Jan… I didn’t screw up, they did, by churning my account without my permission….thanks again for the support!
June 7, 2008 at 3:32 pm #626762
TheHouseMemberI’ve used UBS for many years and never had an issue.
Can you clarify what type of problems you’ve had?
June 7, 2008 at 7:00 pm #626763
JanSParticipantyikes, I know you didn’t screw up…but the prevailing thoughts out there in the gov’t, banking industry, etc is…if you, the little person has a problem, you ‘screwed up”, and should have to live with it, while they bend over backwards to help the big guy banking industry out of their mistakes…
so , once again…I’m rooting for you :)
June 7, 2008 at 8:30 pm #626764
JeannieParticipantYes, I am using, too – and it’s the office in Bellevue. I can’t say I’m totally thrilled with them, but, so far, nothing blatantly sleazy. However, I have no doubt whatsover about the lack of scruples of these companies – so I’m rooting for yikes, too! Just read today’s NY Times story about UBS. Grrrrrr.
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