BB&T Financial Complaint

BB&T Financial Bank account or service department,

Other bank product/service Account opening, closing, or management North Carolina

- : WHY BANKS SHOULD NOT OWN BROKERAGE SERVICES OR RECOMMEND ANY STOCK / BANK STOCK / WRITTEN DISCLOSURES REQUIREDDear - - -, At the start of the -/-/2008 financial crises I was recommended to a Financial Adviser at BB & T, - -. He built trust over a period of years and became a friend, I thought. We had numerous conversations about Capital Preservation '' and my numerous request not to be on BB & T 's solicitations financial services products and numerous conversations that my cell phone number not to utilized by BB & T 's solicitations for financial services. When BB & T offered an 8 % preferred stock offering, - - called and set up an IRA securities account for me. A couple of years later to conform to Dodd-Frank rules, I learned years later, I received a unsolicited call from - - stock associate, - -, - strongly selling BB & T

over to unscrupulous BB & T products and employees for the benefit of BB & T Dodd Frank requirements. Later other BB & T employees stated they would not have touched selling the BBT preferred, especially after not being able to recommend the BBT common stock. '' I think - -, - should had disclosed he was not acting in my best interest ( as required by the CFP ethics ) and even though - - was 100 % of the time utilizing the trusting - logo, he chooses when he is utilizing the - ethics. Financial brokers should be required to provide disclosure material by email or other written form, make there financial recommendations and disclosures in writing, and have executed forms of disclosure. A Know Before You Purchase My Stock / Financial Instruments Recommendations ''. Further more, I understand, that - - on numerous occasions, circumvented my attempts to move away '' from his services and stay within BBT. I attempted on numerous occasions to deal strictly with another broker that I had know from - and - - and his manager, - - prevented my request, another CFP violation. Bottom Line : It appears that the banks draw in deposits with FDIC assurance and build trust with a financial adviser ; at the same time strongly push and make financial incentives for the financial adviser to transfer deposits over to the brokerage side of the bank while building trust with logos like - and later claim the - trust and ethics are applicable. Request that the CFPB make rules to stop predatory stock sales, require written disclosure and upfront cost disclosure and risk, be fair and transparent, hold the financial institution responsible for the employees services and / or dishonesty.