1) Boss argued with my partner that Publicly Traded Companies keep track of shareholders even though the stock certificates are in the Broker/Dealer name. (The client does not have any documentation of stocks held in a brokerage account, the client has not kept any record of statements for the last 17 years, and the exact broker/dealer is unknown.
2a) On 8-June-2009 a potential client called twice last week. I was told to research the folder (since my partner was on out vacation.) Because I was unsure of the paper trail, I called the potential cleint's broker/dealer operations to get caught up on the paperwork. I went back to tell my boss details on where we stood with the potential client and mentioned that I had spoken to his broker/dealer. She told me 3 times that we never call the broker/dealer or anyone where there account is being held, because incompetency is the result and word would get back to the potential client forcing them to not transfer their assets to us. I mentioned to my boss that the client had contacted his broker/dealer on paperwork we had sent.
2b) Client acknowledged today they would not transfer the account, but they were happy with the work effort we had demonstrated.