I posted this five years ago: https://www.reddit.com/r/investing/comments/yn9oy/my_financial_advisor_ignored_my_request_to_invest/?st=JD6MWPZL&sh=cf56827a
(Sorry for the crap link—I’m on mobile and don’t know all the mobile tricks that make links not reprehensible)
I’m posting because I have received a few PMs in the past asking me for an update. I haven’t received any in awhile but I thought I’d provide an update in case anyone remembers or might be interested.
I found an attorney who took the suit about four years ago. Attorneys settled out of court with Wells Fargo for about 90k. One third went to attorneys fees, I think another third to taxes, and the remainder helped me settle after moving for grad school and take care of some car stuff. Whatever I netted was quickly exhausted.
I’m disgruntled still because the lawsuit was not fair compensation. And for what it’s worth, what I had originally invested was about the amount of student loans I have right now.
Edit: thanks for all of your feedback, insight, and humor. I appreciate it all, especially the kindness and respect of everyone’s responses (and being more specific, thanks for not calling me a complete idiot for my naïveté and lack of education in this field).
Submitted February 02, 2018 at 07:58PM by pgrechwrites http://ift.tt/2FFNVcE
