Kiplinger

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

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