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Business Profile

Financial Services

Lockshield Partners

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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  • Initial Complaint

    Date:08/28/2023

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    5/24/2023 I have put in to remove my money from this company. I have done paperwork even hand delivered the request on 5/24/2023. Is there any agency to report them to? Lock shield has not been complaince to my request I have done everything they have requested an as yet they are stonewalling me. The representative was rude talk to me as I was not an equal. I have liquidated the funds at their request the first time the money was used to buy more stocks then had to call again have the stocks resold. The agent was name ******* an he also stated my account had not had activity over a year until 2 weeks ago which is when they rebought stocks.

    Business Response

    Date: 09/05/2023

    *** ****** held investment accounts at our firm, Lockshield Partners.  She decided to transfer them to another company.  I  believe it was Modern Woodmen Insurance Company.  They submitted paperwork to initiate the transfer with our back office at LPL Financial.  The person *** ****** hired to move her accounts filled the paperwork out incorrectly on 2 different occasions resulting in delays, and several rejected attempts to move the accounts.

    When the paperwork is filled out incorrectly, the transfer is rejected due to it having the wrong information on the form.  I spoke with *** ****** previously and let her know that her accounts had not been moved yet because the forms were wrong.  I told her there was nothing I could do about it until the new person she hired filled out the basic forms correctly.   It is my understanding that once the forms were received in good order, the transfer would go through.  Her accounts have now been fully transferred and we do not have any of her accounts at our office.  

    The complaint mentioned that she spoke to someone named ********" at our office and that he was rude to her.  We have never had anyone by that name at our office.  I think she must have called our back office at LPL Financial.  I cannot speak to any conversation she had with them.   To my knowledge, all of her money has been transferred to the new firm she chose.  Again the underlying issue was the paperwork they submitted was repeatedly filled out incorrectly.  I suspect *** ****** was not informed by the new Company that they had not filled out her transfer forms correctly, and believe the complaint should not have been directed at our office.   I hope this response clears up any confusion and I wish *** ****** the best in the future.

Lockshield Partners is NOT a BBB Accredited Business.

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