Earlier this year my husband obtained guardianship for his mother due to her dementia. She now lives with us. She has an IRA with a major investment company. My husband has been trying to change it over to the company we have ours invested in because we are comfortable how they are managing the funds. After her company requested form after form, he contacted our company and they tried to help. Now the company is insisting we put his mother on the phone to verify that she wants this. She has been declared incompetent, the guardian papers are notarized and yet they still want her to speak. Getting the guardianship was not cheap.
In Oregon, having GS did not allow one to do anything with assets -- including retirement funds. That required a conservatorship (CS). The state laws mean GS is the physical person, POA is short term financials, and CS is assets (including retirement accounts). Other states have their own ways and definitions. For example, in our state, if a clause to change retirement accounts is not SPECIFICALLY written into a POA, then it is assumed it is NOT allowed regardless of how any other generalities are written. For the required details to make a very strong POA, it requires very, very long POA documents. Which of course increases the price to have them prepared and properly filed.
DH had MIL as a ward so hopefully this suggestion might help without additional major expenses. IMO, send a copy of the Letters of Guardianship (and/or CS) via certified mail with signature required along with a letter stating that they are to not to contact mother as her rights have reverted to the guardian. I would include a copy of a roll-over form asking the funds be transferred from one retirement company to another and that any delay will result in consult with an attorney instead. I'd give a deadline of xx number of days to contact you back to make arrangements and then, if there is delay, go to an attorney.
Good luck.
You probably had a lawyer help him get the guardianship, so run this past them. When I was a legal guardian, I don't remember it even being an option to transfer my mother's funds from one investment company to another. I could leave the accounts be as long as she didn't immediately need the money, or I could close them and deposit the check, which was always in her name, into her guardianship bank account. Maybe transferring to another investment is an option for you, but it's just tricky enough to warrant paying for an hour of your lawyer's time.
You might also just be dealing with a low-level clerk who doesn't understand what guardianship means. I ran into this frequently, notably with social security. I had one clerk yelling at me over the phone because she thought I was making it up. You really run into all types. So you might try to get a response from a more senior person at the company, someone who might be more familiar with the law. And yes, get your lawyer to contact them if need be.
Unfortunately this company is ignoring a legal guardianship. That's actually against the law. But to handle this you unfortunately need an attorney again. They need the threat of a suit and reporting to commissions in charge of their licensure.
I also work in a financial company, and we process guardianship and POA paperwork all the time. This company is just trying to wear you down to conserve the business.