Neuberger Berman- Misleading Statements
Statements issued by Neuberger Berman Trust Company do not show basis. Why does Neuberger Berman Trust not want customers to see how their investments are performing? In an age when computers make it easy to show basis, Neuberger Berman Trust is regressing. Does Neuberger Berman Trust seek to protect me from news of its shortcomings by shielding me from profit and loss information? My experience with Neuberger Berman Trust Company, under the leadership of Diane E. Lederman Esq. and Joseph F. Collins III has been sadly disappointing.
Neuberger Berman Trust had the audacity to notify me that the basis of securities would no longer be shown in
my statements. Why would Neuberger Berman Trust do that if not in bad faith? Does Neuberger
Berman Trust fear that with all the kickbacks and fees impacting its customer’s returns it is better the customer
not see losses Could it be that Neuberger Berman Trust fears that money managers who pay kickbacks will
not get good returns for Neuberger Berman Trust's customers.
2012 Account Statement
Is the Neuberger Berman Trust Statement format ethically impaired? Is this a breach of Neuberger Berman Trust's Fiduciary Duty?
2013 Account Statement
Where is my UNIT COST? Where is my COST? Why does Neuberger Berman Trust deny me my basis?
Joseph F. Collins III, Neuberger Berman Trust's Chief Fiduciary Officer, comes off as a master of obfuscation. Joseph F. Collins III defended his confusing statement format.
Statements issued by Neuberger Berman Trust Company are difficult to read and understand and are not available online. Neuberger Berman Trust's statements are printed front and back with disbursements buried in no easy to follow order for a nonprofessional.
These statements contain payments of hundreds of thousands of dollars for uncontested administrative paperwork to Law Firm Proskauer Rose. Diane Lederman Esq., President and CEO of Neuberger Berman Trust is a former senior counsel at the Proskauer Rose Law Firm.
Based on my experiences with Diane E. Lederman Esq., other Neuberger Berman Trust customers may wish to carefully review their Proskauer Rose billings initiated through Neuberger Berman Trust Company. Could Neuberger Berman Trust have accomplished this legal work in house with paralegals and supervised in-house counsel, at a fraction of the cost? Does Lawrence Zicklin know about ethical lapses at Neuberger Berman Trust? Lawrence Zicklin solicited Lillian Glasser's business at the original Neuberger Berman Trust. What would Roy Neuberger say about the underhanded practices at Neuberger Berman Trust Company? The Lillian Glasser Estate has diminished substantially at the hands of Goldman Sachs, Morgan Stanley and now Neuberger Berman Trust Company. I suggest you look far from Wall Street for the needs of your trusts and estates.