I had a similar experience: 2x$175 to close two accounts plus a $50 IRA fee. $400 just to get back my own money. It's a legal form of theft. Hillard-Lyons fees are among the highest. There are many better choices.
Many brokerages will reimburse you (at least partially) for such fees. This can ease the pain. Good riddance!
For future reference, I located info online to possibly reduce such fees. (Search for "Beware broker transfer out fees.") Some brokerages charge separately for transfers, versus closing. (HL combines these two fees together.) If they charge only for a transfer-in-full, but not a partial transfer, then you can transfer most but not all assets. Then withdraw the small remaining cash, rather than transfer. (For IRAs, the trick is evidently to perform a roll-over rather than a transfer.) I have not tried either; I am just passing along the info. Of course, some brokerages close this loop-hole by charging for partial transfers or requiring a minimum account balance.
Product or Service Mentioned:
Hilliard Lyons Account.
Reason of review: Problems with payment.