My 70yr. mom bought 300 shares of stock for $6300 in 1998. The stock was for West. Sierra Bank...?

Question

...which became something else, and is now Umpqua bank. She has a returned check shown as paid and her West. Siera Bank statement showing the deduction. The check was made out to Sutro co. and is memo'd as for 300 shares. She never received any statements from any company regarding her shares. She then had a stroke and for the last few years haas been getting thru breast cancer...so she's been preoccupied...anyway she found this statement and check and tried to find out how her stocks are doing and she's been getting the run-around. Nobody knows anything or have her name on any account. The Sutro co. also has changed hands a few times and now it's RBC-they're telling me they don't keep records going back to 1998. I've just emailed him copies of the records I have but my Q is --who,what,where can I go to resolve this?

Answer 1

The only thing you can do is some internet research. Basically you have got to trace the complete corporate history for what happened to West Sierra Bank. Bit like a familly tree! Make a methodical note of dates etc.Match this history with any docs., cheques dates etc. you have. Once you have that you may be able to tell if it is now worthless or whether there should be any new stock or cash. Just keep plodding away until you get the answer or hit a brick wall!  

Answer 2

Go to Charles Schwab.  It is a good platform for retail investors and the customer service is great.  My parents went through a similiar nightmare and Schwab sorted it out.

You can find a branch on www.schwab.com

For general investing purposes, someone at the age of 70 should not hold any signal stocks.  Buy ETFs such as TIP and BND for fixed income and SPY for some light equity exposure.  Look at Muni funds as well for tax-exempt investments.

Answer 3

Follow the money.