Form Letter

My financial advisor of more than 10 years retired. He told me personally and said that the company would let me know about the replacement. I got the following letter:

Dear Valued Client

This letter is to inform you that your Managed Investment Program (MIP) account is no longer serviced by your previous Investment Advisor Representative (IAR). A new IAR has been assigned to your account.

We have enclosed for your review a copy of your new IAR’s Form ADV Part 2B brochure supplement. The brochure supplement includes information about your IAR’s education, employment history, disciplinary action, outside business activities, compensation information, and other important information regarding the Firm’s supervision of its IARs.

If you have questions, or need immediate assistance, please call your IAR or his/her supervisor at the numbers provided on the enclosed ADV Part 2B supplement.

Thank you for being a valued client.

It did not include my name. It did not include my new rep’s name. And even though it referred to me as a valued client twice, the letter did nothing to show me that I am actually valued.

My new rep did not have any disciplinary action against him, but he also never contacted me. I finally got an email from a different new rep. I wonder if I’ll get his ADV Part 2B supplement too. Maybe it’s time to call the supervisor.

Jeffrey L Cohen

Jeffrey L Cohen