Sayga (sayga) wrote in bad_service,
Sayga
sayga
bad_service

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Morgan Stanley SUCKS!

Morgan Stanley is COMPLETELY inept! That place is staffed with a bunch of fucking morons.

Last July, I transferred my Roth IRA over to ICON Funds, out of Morgan Stanley. My husband's Roth IRA was still at Morgan Stanley, along with our other investments. Early January, I sent a letter from DH along with a check to Morgan Stanley to fund DH's Roth IRA for 2006. No where on the letter did my name appear (I only happened to have written it because DH tends not to think about stuff like funding his IRA): the address on the top had DH's name, the letter stated that the check be deposited into DH's account and gave DH's account number, and it was SIGNED BY DH.

But yesterday, I got a transaction confirmation letter from ICON, telling me that $1500 had been deposited into MY account. ICON and Morgan Stanley are COMPLETELY different companies, and not affiliated with one another. I called ICON to find out where the money came from, and they informed me that Morgan Stanley sent them the check, and a letter saying it was a transfer of assets, since they no longer held my account. MY ACCOUNT!!! Argh!

If this was only strike one against Morgan Stanley, I would just think this was a weird or annoying fluke. But it's like strike seven! I am SO pissed off at them! Now I have to fix this! If I didn't have Morgan Stanley-specific mutual funds, I would take our money out and go elsewhere. I can give myself better WAAAY customer service here at work (I work for a financial advisor--servicing client accounts) than they're giving me, and I'm paying out the ass in fees. But we'd have a capital gain to pay tax on so we don't want to deal that tax just cause we hate Morgan Stanley.
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