I was under the impression that the brokerage I chose to handle my dealings in the U.S. stock market was affiliated with a respectable London bank, and was surprised to learn the firm is actually headquartered several thousand miles away in New York.
After informing the firm that I wanted to withdraw from the U.S. stock market and close my account, I was shocked to discover that my broker had continued to purchase shares in my name without my knowledge or consent. I lodged a complaint with the firm upon discovering that the shares crashed and left me with considerable losses. The firm refused to compensate me and I was told to “…go away. The matter is closed.”
The firm did not acknowledge any wrongdoing and alleged I authorized all trade activity by signing its terms and conditions when I opened the account. After laughing my complaint off, a principal at the brokerage eventually suggested that the firm “may make an offer to settle,” but no such thing ever happened.
Shortly thereafter, I received a flyer from Cold Spring Advisory Group. I was impressed with the company’s approach to stock loss recovery and the speed with which they responded to my inquiry; but I was nervous about dealing with anyone in the U.S. after my experience with the brokerage. Cold Spring Advisory Group compiled a forensic report on my brokerage account and concluded that I was the victim of overcharging on brokerage fees and that my broker was trading my account without my authority.
I had no previous experience with a broker acting in a cavalier manner, but Cold Spring Advisory Group gave me the confidence to challenge the brokerage and recover the money that I lost. Cold Spring brought my case to arbitration and I was awarded considerably more than I expected.
I am very pleased with the results and would recommend Cold Spring Advisory Group to anyone who finds themselves in the position that I was in.