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  • Here's the timeline of actions and inaction that has led to where we find ourselves today:
    9/26/14 - Contact Ohel/Duncanabout taking over financials - explains circumstances
    9/27/14 - Phone conference- Mr. Ohel indicates he will expedite financial plan to be able to make financial and  investment decisions, estimates 4-6 weeks.  Funds transferred will be kept in holding accounts until that is reviewed.
    9/29/14 - Mr. Ohel sends forms to complete send in
    9/30/14 -  All completed documents and supporting account statements returned to Mr. Ohel
    10/6/14 - Funds transferred from First American Bank to Ohel-Duncan Group
    10/8/14 - Mr. Ohel puts funds in insured money market account as agreed, pending review of financial plan and decision on investment direction
    11/26/14 - All stocks and funds arrive at Ameriprise, placed in IRA account  as is - pending financial plan and decision on investment direction. 
    12/1/14 - Mr. Ohel emails to see if we would be able to review completed financial plan on 12/17 or 18. . 
    12/2/14 - We advise Mr. Ohel of  impending surgery on 12/9 
    12/26/14 - Email Mr. Ohel and update him on results of  surgery and pathology report and the impact it will have on hwork and on income.  Ask for presentation of financial plan and investment decisions by mid January as after that will be in active treatment.  Also advise Mr. Ohel that email is best way to contact us.
    1/12/14 -  Emails Mr. Ohel again (after no response to 12/26 email) - asking for presentation of financial plan so that investments could be made. Ask for info to transfer  401K
    1/13/14 - Mr. Ohel assistant, who was cc'd on 1/12 email, responds with information on 401K transfer
    1/13/14 - Mr. Ohel emails with questions needed to finalize financial plan to review prior to investment decision
    1/13/14 - Respond to Mr. Ohel's questions, and gives clarification to items that are incorrect, including Steve's earning capacity, lack of college funding needed for graduate children, fact that condo was sold in 2013 and was not an asset. Refers Mr.Ohel to re-read email in same chain from 12/26 with additional details.
    1/17/14 - Email Mr. Ohel asking for update on delivery of financial plan and status of all funds within the account.
    1/20/14 - Call Mr. Ohel's office to try and contact, leaving message to please email response to recent emails asap..
    1/21/14  - Sister of client speaks to Mr. Ohel on our behalf : "He said that they are ready to move forward with your financial plan but he needs to speak to you and Steve first to make sure that you are both comfortable with their recommendations."
    1/26/14  - Mr. Ohel emails to request time in mid-February to present plan and recommendations
    1/26/14 - Respond to Mr. Ohel, indicating husband will be in treatment in mid February and asks again if plan is complete and would like to review that week.
    1/26/14  - Mr. Ohel responds that he will be reviewing financial plan the following morning and after that will have a better idea of when it and investment recommendations will be ready.  He asks to speak by phone that evening.
    1/26/14  - Call Mr. Ohel that night per he request.  Asks what is happening with money/stocks..still in holding accounts as they had been...that we do not want any stock sold until then.  Mr. Ohel responds that all stock had been sold and put into their "program".  Inform  Mr. Ohel he did not have the approval to do so as they had not reviewed the plan yet. Establish date of February 5 @ 11:00 a.m. to review financial plan and recommendations.
    1/27/14 - Stocks and funds from the Fidelity account actually sold - after Mr. Ohel was told we had not wanted that done and he had mis-stated that it already had occurred.  Additionally, that entire week, the news and financial media were touting that Apple was indicating they were going to beat industry predications for fiscal Q1 2015.   That report was released at 3:30 California time.  The next day, Apple stock rose 5% and had continued its upward trend.  231 Apple shares were sold at $110.76 per share.  Close on 2/6 was $118.93.  Loss due to unauthorized sale:  $1,887.00
    2/4/14 -  Receive hard copy of financial plan in preparation of call.  On review, errors identified from email questions and others are still present - with investment recommendations, net worth and investment recommendations based on incorrect information.  Call Mr. Ohel to question how that could happen - expresses stronglyconcern as to how much attention is being paid to their account, needs and expressed wishes.
    2/5/14 - Email Mr. Ohel following up on items discussed on the phone the previous evening, posing specific questions and asking for answers before close of business.  Mr. Ohel advised he was in meetings and traveling over the weekend and would get back to us next week.  
    After Mr. Ohel does not respond, we made the following request:
    As we have lost 4 valuable months of investment time and investments were made without our approval or review, I ask that you do the following to make us whole:
    Waive any fees for your services
    Repurchase 231 shares of Apple stock, with the price differential from your sale to current value your financial r responsibility (approx. $2,000)
    Liquidate any investments you have made with cash with no fees and return cash of $150,000 to our First American Bank account
    Liquidate any investments you have made in my IRA account and return the exact amount of cash transferred (less the Apple stock value in October) with no fees charged to my Fidelity account
    2/6/14 -Mr. Ohel responds that he no longer fills he is a good fit for our business.  Turns account over to manager who advises that we have to pursue complaint process with Ameriprise to address request which we are advised will take 6+ weeks.
     
     
     
    - Gloria H.
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