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Jpmorgan Chase / investment in bonds

Miami, FL, United States Review updated:

I moved all my retirement money to Chase. I met with an advisor and said I wanted to invest 100K in a safe conservative investment that would make 1% or more PA. I repeated several times that I did not want a lecture on bonds going up and down and I made him promise he would never use the term 'in the long term' (I am 82). He agreed. He showed me that his choice of bonds would earn 4% PA. Of course I did not believe him but I would have been satisfied with 1% PA. After 3 months the bonds had dropped $3000 and furious I told him to sell. He refused. Six months later the bonds dropped to $9000. I told him to sell. This time he followed my instructions. I demand now that I at least should be compensated $6000 since he did not act on my instruction. JP Morgan now refuse to talk to me. I intend to contact the SEC and a lawyer. Chase clients...beware!

Pb
Jul 22, 2016
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Comments

  •   Jul 23, 2016

    You sound like an 84 year old with too much money and not enough sense. You dictated that he not do his job and advise you of fluctuating markets and how your investment can be impacted by these things, and yet got mad at your broker for the market doing just that. You should keep your money under your mattress if you can not understand how investments work. You are not guaranteed a profit. No one is. You are also not going to get a refund.

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