[twinklesweep]

Originally Posted by VICAR OF DIBLEY

The date I was given to complete this transaction, came from Michael Whitaker’s office. I had No reason to believe I could not trust them.

Originally Posted by VICAR OF DIBLEY

My first call to Michael Whitaker’s office was nearly one month before I needed the funds. I was told on what date to come to their office, so that I would get the monies for the closing in time.
I thought they were competent, little did I know.

Originally Posted by VICAR OF DIBLEY

My first call to start the transaction was nearly one month before I needed the funds.
I trusted them “MY ERROR “, next, thinking they were competent.

Originally Posted by rsmurano

AJ32162 stated it correctly. you never get your money the same day you sell investments. Some brokerages allows you to sell then buy stocks the same day but never allow you to take the money out.
One interesting note that makes this whole story fall apart was that the OP stated he checked his "checking account" for the funds that he sold and they weren't there. You know that it requires a move from the brokerage account into a checking account which can take a day or 2 in itself especially if they have to transfer the funds to another bank. Or, the OP is confused and thinks the brokerage account where his funds come out of is a checking account, either way, doesn't look good for the OP.
I use a brokerage firm that can wire directly out of my taxable accounts. So when I need to wire money, I talk with my brokerage firm and tell them I need you to wire the funds a day or 2 before the closing date and they will tell me when I need to sell so the funds are ready* for wire in time. Done this a dozen times with no issues but I always wire the funds days before they should be there

Originally Posted by VICAR OF DIBLEY

I went to their offices to sign the necessary paperwork and provide a copy of the account where it was to be sent to on the date they gave me.

I don’t know where the funds were from Oct. 22, until they were deposited in my account.
I gave them all the information they requested, followed through on every detail, and was reassured that the funds would be available when I needed them.
I had informed them nearly a month prior to needing the funds.

The Vicar may have been unfamiliar with how the process works, but there is no doubt that he made it abundantly clear on not one but several occasions exactly what his time frame was and relied on a reasonable expectation that MICHAEL WHITAKER and his staff knew what they were doing. Faulting the OP based on the failure of the brokerage house to properly interpret the dates the Vicar clearly presented to them is short-sighted on the part of these posters whose pervasive attitude may be one of 'blame the victim.'

*Emphasis mine. It sounds as if murano did exactly the same thing as Vicar did, that is, letting the brokerage house determine the dates, though in his case MICHAEL WHITAKER and staff knew his need was to have the funds not wired but available in his checking account. This difference in the routing of the funds is irrelevant in that it was clear what was needed how and when.