I am sorry for the delay in getting back to you. I was offline when you responded:
I have one other question,
Is it customary when transferring from one financial advisor to another for the receiving financial advisor to take a commission?
Response 1: No, it is not
I have prepared letters to both the new Wells Fargo Advisors, and the main bank to let them know that I had not been informed that any monies for any reason would be deducted from my account.
Response 2: Good
On the bank statement online it does not show under activity any other amount than the reduced amount that is transferred. In other words it does not show that $100.00 was transferred in from XXXXX XXXXX but rather shows $80.00 and does not give a clue where the $20.00 went.
I am going tomorrow at 10 o'clock to bring in my paperwork and hand deliver the letter to the two financial advisors of Wells Fargo that states there was no disclosure made as to any reason monies would be removed.
Response 2: Yes, that is the better course of action at this time. If the commission upon transfer was not disclosed, you cannot be charged the commission.