Stockbrokers Told These 2 Clients NO, for Their Own Good

Some time ago, a reader contacted me, upset with her stockbroker for not following her instructions to purchase a large number of shares in a company with significant losses due to COVID-19. The share price had plunged, and she wanted to take advantage.

She acknowledged seldom making stock investments; rather she typically just parked retirement funds in the brokerage’s money market account and CDs.

I received permission to speak with her family and the broker, and my initial impression was that there must have been some reason for the broker to reject the “buy” instruction, likely a suspicion of dementia or another form of diminished mental capacity.

“That was my

Vous lisez un aperçu, inscrivez-vous pour en lire plus.

Plus de Kiplinger

Kiplinger2 min de lecture
Stock Market Today: Energy, Industrials Lead a Slow Day for Stocks
An afternoon slide sent the major indices lower Wednesday, though the Dow's losses were minimal amid a rebound in energy and industrial stocks. Oil prices rose sharply thanks in part to a logjam in the Suez Canal. (Really: A Panamanian container ship
Kiplinger3 min de lecture
More Third Stimulus Check Payments Sent This Week
If you didn't receive a first wave third stimulus check last week, your payment might be in the second batch being issued this week. The second batch included 37 million new payments, bringing the total disbursed third-round payments so far to approx
Kiplinger3 min de lecture
Help! I’m Afraid to Retire, Even Though I Can Afford to
I am seeing an interesting pattern in discussions with my clients about retirement — and it’s certainly not one I was expecting. Instead of worrying about whether they’ll have enough saved to enjoy retirement, they’re worrying about whether they’ll e