map-marker Ormond Beach, Florida

1099 int end of year

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I called Janney to find out when I could expect my 1099 end of year closing statement. After being on hold to speak to customer service for over 15 a gentleman named Tyree listened to my request and informed me he couldn't handle it. He said I needed to speak with a Phil Pharaoh...transfered my call only to get voice mail. Left msg that I was going to work and to call me after 3 pm today when I get home So far no calls. I need this 1099 consolidated for filing my federal taxes. I can be reached with respect to my complaint @ 973-865-**** M Owen former Janney Nuveen client
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User's recommendation: I will not recommend in future

Tilman Bwb
map-marker Philadelphia, Pennsylvania

Stockbroker Pearl Lee of Janney Montgomery Scott

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BEWARE of Pearl Lee of Janney Montgomery Scott in Philadelphia, PA. This woman is morally bankrupt and a complete fraud in both her professional and personal life! In 2005, Pearl Lee Gitter was a financial adviser with Morgan Stanley Dean Witter. At that time, her coworker and future brother-in-law, Steve left Morgan Stanley for another financial firm. Immediately after his departure from Morgan Stanley, Pearl Lee did not hesitate to seize Steve's richest of clients for herself. It may be a common practice for an investment firm to make every effort to retain their clients and convince them to not move with their adviser but for Pearl Lee, it did not morally compute in her head that Steve was FAMILY. Greed took over. Anyone with an ounce of decency, respect and basic morals would know not to steal, especially from friends and family. But Pearl Lee lack these convictions and got caught. She says she was deeply sorry, regretted it and profusely apologized to Steve and his team of associates. Because no damage was done, Steve forgave her. The lesson Pearl Lee claimed to have learned, "Never take advantage of family". Fast forward to 2011, Pearl Lee is now with Janney Montgomery Scott (she left Morgan Stanley brokerage firm in 2006). In 2011, she received a FINRA investigation due to a complaint filed against her. Who filed it? Her own brother (the closest member of her nuclear family). In the first 4 years with Janney (2006-****), she needed to meet her monthly quota and the easiest prey among her clientele list - her own brother. She took advantage of his trust and naivety of the market and made over 140+ unnecessary trades on his small IRA accounts between 2006-**** - basically decimated his retirement portfolio. She bought stocks high and sold them low. She bought him long term mutual funds and sold them in less than 6 months. She made his retirement account fluid and would not stop CHURNING - charging over $3000 per year in fees and commissions. And she did all this with no regrets. When her brother discovered her actions, he confronted her. Unlike her brother-in-law Steve, damage was already done. When given a choice to make restitution or face retribution, she chose money over her own family. This is the very nature, the true colors of Pearl Lee - Selfish Greed! Her brother reported her to FINRA who agreed to investigate. So to anyone who is a current client or about to use Pearl Lee as their financial adviser, beware and THINK ABOUT THIS. If Pearl Lee is greedy, reckless and completely irresponsible with her own family member's financial portfolio, how do you think she would manage your life savings and investments? She is extremely deceptive and will not learn from the mistakes of her past. Money is her god! Be forewarned. Pearl Lee has absolutely no integrity and no morals when it comes to money. Her betrayal deserves nothing but contempt! I would know - I am her brother!
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Reason of review:
Churning and Betrayal

In mid-February of this year 2022, our Philadelphia Janney headquarter office received a bombshell about Pearl Lee. An external email was sent to multiple associates detailing Pearl Lee's numerous online negative reviews and customer complaints spanning several years.

Pearl Lee quickly became the gossip in our office. This email was immediately forwarded to our Communications Director (BD) and our Corporate Lawyer (MG) for resolution. Initially, we believed these online accusations had no merit and came from a known disgruntle family member/client, so we felt a defamation suit would be warranted. I say this because many of us as Fiduciaries would be impacted by these numerous public negative reviews which could derail future clients that are interested in investing with us at Janney.

After several months, we found out NO ACTIONS relating to defamation will be done by our legal counsel. No cease and desist, not even minor suits like Interference with Business Relations or Emotional Distress. In conclusion, no actions will be executed because (according to internal sources), this would be a public relations nightmare for Janney. Apparently there is no winning pursuing a lawsuit against the one source of these negative reviews.

This tells us there is TRUTH to these online allegations and Pearl Lee's reputation of defrauding her clients is a FACT!

So, on behalf of us true fiduciaries, I apologize to all of Pearl Lee's victims. Not all financial advisors are greedy and corrupt.

Shiane Fay
reply icon Replying to comment of Guest-2281554

I am Pearl's (ex)brother and thank you for sharing this insight into Janney internal affairs. I've long suspected that both Pearl and Janney are aware of the numerous complaints I have made online against them.

Your post confirms that.

Pearl only has one brother, I'm not anonymous and she knows where I live. And yes, after almost 10 years of sharing and shaming Pearl Lee of Janney Montgomery Scott and detailing her corruption online, I have not heard a single word from either one of them.


guest here


Is this for real?

reply icon Replying to comment of Guest-1747491

Yes! Pearl Lee Gitter is a gluttonous financial adviser in Philadelphia for the last 30+ years.

She has succumbed to the insidious disease = Greed. Building her wealth has become her top priority, losing all empathy by jeopardizing the retirement portfolios of clients who were close friends and family for the sake of her almighty God = Money! 70-year-old Pearl is spending her retirement years still working because there is always more money to be made.

As she approaches closer to death, her tombstone epitaph will one day read "I wish I made more Money!" This is her legacy. Google her for more details!

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