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JOSEPH RYAN RANDALL

JOSEPH RYAN RANDALL is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at 925 4TH AVE, SEATTLE, WA, 98104.

JOSEPH RYAN RANDALL has worked at UBS FINANCIAL SERVICES INC. since June 13, 2014

Disclosure History

JOSEPH RYAN RANDALL has 1 Disclosure Event(s).

Date: March 03, 2009
Category: Customer Dispute
Allegations: 11/08-3/09; POA CLAIMS SHE INFORMED THE FA IN OCTOBER 2008 SHE WAS THE NEW POA AND FAXED THE POA TO THE BRANCH. CLIENT CLAIMS WHEN SHE RECEIVED THE NOVEMBER STATEMENT SHE DISCOVERED THE PREVIOUS POA HAD WITHDRAWN $43,000 AND LATER LEARNED HE TOOK THE MONEY AND PUT IT INTO 2 CDS IN HIS NAME ALONE AT THE BANK. POA STATES THIS SHOULD HAVE NEVER HAPPENED AS THE PREVIOUS POA NO LONGER HAD AUTHORIZATION TO PROVIDE INSTRUCTIONS ON THE ACCOUNT. POA IS REQUESTING SOMETHING BE DONE AND THE MONEY RETURNED TO THE EDJ ACCOUNT OR HER CHECKING ACCOUNT.
Damage Amount Requested: $5,000.00
Broker Comment: UPON REVIEW OF THIS MATTER AND AFTER CONTACTING THE BRANCH OFFICE OF THE FINANCIAL ADVISOR, IT IS OUR UNDERSTANDING THE NEW POWER OF ATTORNEY (POA) DOCUMENT UNDER WHICH YOU ARE THE NAMED AGENT WAS BROUGHT TO THE ATTENTION OF THE BRANCH OFFICE ON 10/30/08. AS A RESULT, THE BRANCH OFFICE INQUIRED INTO THE PROCESS OF REMOVING THE NAMED POA AGENT AND ADDING YOU TO THE ACCOUNT AS THE NEW POA AGENT. IT APPEARS THERE WAS SOME MISCOMMUNICATION AS TO WHAT WOULD BE REQUIRED AND IT WAS LATER DETERMINED THE NEW POA DID REVOKE ALL PREVIOUS POAS AND YOU COULD BE NAMED THE POA AGENT ON THE ACCOUNT WITHOUT THE PREVIOUS POA RESIGNING OR THE CLIENT REVOKING THE PREVIOUS POA. IN THE PROCESS OF MAKING THE POA CHANGE, THE NAMED POA AGENT DID REQUEST A DISTRIBUTION FROM THE ACCOUNT AND A CHECK IN THE AMOUNT OF $40,815.43 WAS ISSUED IN THE NAME OF THE CLIENT AND MAILED TO ADDRESS OF RECORD. POA HAS INDICATED THE PREVIOUS POA AGENT DEPOSITED THE CHECK IN CLIENT'S BANK ACCOUNT; HOWEVER, THIS AGENT ULTIMATELY MOVED THE ASSETS INTO HIS INDIVIDUAL NAME. WHILE IT APPEARS THERE MAY BE A QUESTION AS TO WHETHER EDWARD JONES SHOULD HAVE ACTED ON THE DISTRIBUTION REQUEST OF THE PREVIOUS POA (AND THE NAMED POA AT THE TIME OF THE ACTIVITY) IN NOVEMBER 2008, EDWARD JONES WAS NOT INVOLVED WITH THE CHANGE IN REGISTRATION POA INDICATED TOOK PLACE THROUGH THE ACTIVITY IN CLIENT'S BANK ACCOUNT. ADDITIONALLY, WE HAVE NOT BEEN PROVIDED WITH ANY DOCUMENTATION TO REFLECT THESE FUNDS ARE NOT BEING USED FOR THE BENEFIT OF THE CLIENT. IF POA BELIEVES THESE FUNDS HAVE BEEN MOVED INTO NAME OF PREVIOUS POA AGENT AND ARE NOT BEING USED FOR BENEFIT OF CLIENT, WE WOULD SUGGEST POA TAKE APPROPRIATE ACTION AGAINST THIS PERSON.

More Information

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