Invest money in many different funds for their own profit. Poor service and poor investment advice. Pros and Cons of Wells Fargo Stock More Founded in 1852 and headquartered in San Francisco, Wells Fargo operates 7,600 locations and 13,000 ATMs, along with offices in 32 countries. If we could lower and stretch it out, they would be making more money. I wish there was a Zero Star option here. So I have to call back, wait on hold, explain the situation to get another representative who gives me instructions that often directly contradict what the last representative told me about what is needed to actually get this form completed. I sent a copy via mail. This bank is very pro selling and not much about service. by Michelle, IN SEPT. If you have a choice, why use a company that doesn't care about you when there are companies out there that do. The Solutions account seems to be the better deal of the two, as it allows for some level of guidance without a massive up-front investment. Has been a tremendous help and is an asset to Wells Fargo. My new brokerage calls WF with me on the line and it’s a constant run around. Cons: Zero customer service and broken English reps. 8/15/2017. by Jeff Carlson, We were told they could not handle such a transaction and we needed to send the check to corporate, where they would pay off the mortgage and get the overage amount back to us "sometime." 10/30/2020. I have called at least seven times, faxed and/or emailed copies of the specified form at least five times, and every time they reject the form. Better customer service. 2/9/2018. by Mark Anthony, for help. I cannot think of a more poorly operated brokerage firm - None of the issues ever occurred when Prudential held the reigns - set up a list of other firms, pout on a blindfold, and throw a dart n- wherever it lands, you will be better off. It is also available for use on mobile and tablet devices, so customers can manage their investments on the go. This fim holds my company retirement. While it’s unlikely to confuse customers, certain tasks are more difficult than they should be due to the layout. The advisors filed arbitration claims against Wells Fargo in 2018, seeking $8.5 million in damages for defamation, negligence, tortious interference with … When she told them we couldn't, the one lady even told my daughter "Maybe your parents don't want you to know how much money they really have" This is rude and they will not work with you at all. My advisor called and told me to transfer all of my accounts because he did not want to deal with me anymore.I called twice this summer to have my account transferred to another advisor but no one returned my calls. Trading out of stocks from the positions screen seems to be a common problem. I contacted Wells Fargo, they said I needed to fill out another form and return it. Wells Fargo Advisors is the trade name used by Wells Fargo Clearing Services, LLC and WFAFN, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. The cosigners make too much to refinance and lower her payment. Phone wait time is terrible and if you get multiple people they all tell you different things. 10/1/2017. search for a Financial Advisor on this website. I am now moving my small 26k investment that they do not care about. In addition, this avoids some of the most significant complaints outlined in the Wells Fargo Advisor review on, This is the top-tiered account intended only for serious investors. They also offer their proprietary Envision Planning system. Not Wells Fargo! 4 hours after it was signed for I call to follow up. Robo-advisors come in all shapes and sizes. “For some people, deferred compensation is an automatic investment,” she says. by Ashley p, After 3 emails and two teleconferences ( plus an email today) I do not feel they are responsive. Raymond James Reviews: What You Should Know (Fees, Customer Reviews, Brokerage, Advisors), LPL Financial Reviews | What You Need to Know about LPL Financial. After filling out paperwork, getting it notarized and faxing this information, I called to get a status. This can be managed from Wells Fargo Advisors online account or mobile applications. In one week, this safe fund went down $700. When I try to reach an account representative no one is available and I am told they will call back! Do not use them! by Richard, WFA is a rip off and make it impossible to get your money (now their money suckers) back once invested. With 13,000 ATMs and over 8,700 branches nationwide, you’re never far away from a Wells Fargo banking location. It appears I must hire a law firm to deal with these crooks. by Joyce, 5/7/2020. i transferred my account to another institution. I hope to be completely separated from them in the near future. Wells Fargo Advisors reviews, however, show that their advice often provides customers with mixed or poor results. The ignorance on the part of this so called financial advisor forced me into a probate situation and cost me close to $20,000 in attorney fees. l. Termination Fee In late May 2019, I closed my account at Wells Fargo Advisors and transferred all of my mutual funds to another large mutual fund company. I submitted my forms to transfer a 529 account to another brokerage in July. Wells Fargo brokerage review for 2021. Wells Fargo can release your cosigner if you make 24 on-time payments and if your first payment is on time. A financial advisor could help your children develop a strategy to make the most of their inheritance and consider the pros and cons of different options, Prebish says. Never gave an honest appraisal about returns versus fees. It has been three weeks now since I asked him and several phone calls and I still can't get him to do what I asked him! Tried to do a simple pension plan rollover to an IRA and it's taken over 3 months. by Terri, It makes me want to quit my job working for Wells Fargo. Lied about refund. Advisors do not care. I did that. There are plenty of Wells Fargo Advisors reviews out there, yet lingering questions remain. Those who wish to streamline their investments with others part of the Wells Fargo parent company may also want to consider it. No access to cash when needed. The new person is Nicole and she wants me to fill out new forms. CONCLUSION, the cash management department at WF Advisors demonstrated multiple times, by lack of follow up and lying (or not knowing what was going on in their own department), that customer service is not of concern to them. With the Wells Fargo Advisors online account system, including the mobile/tablet application, it’s possible to streamline all of your Wells Fargo services into a single point of access. Very challenging to transfer funds out of Wells Fargo Advisors to another company. Then they send me more forms, all filled out, and no contract! See Also: Review of LPL Financial Advisors | Rating, Fees, News—Finding an LPL Advisor. Run don't walk your money away from these idiots. by Sjsimpson, The light bulb then went on and I realized they had had the first issued check all along but it had just been sitting on someone's desk because it was made out to Wells Fargo Bank (btw it is WFA who sends the paperwork out to the sending bank with the required check info). said never said refund, by Steve, Any fees they charged for closing my accounts was the best money I ever spent. retirement planning and more. Really??? by Sharon Stapp, Wells Fargo Bank, N.A., offers various advisory and fiduciary products and services including discretionary portfolio management. I'LL RECEIVE $126 IN DIVIDENDS BECAUSE OF THIS OUTRAGEOUS FEE. Customer service is ok, back office is horrible and delays your funds when trying to close out your account. by Stephanie, Wells Fargo Advisors Solutions—Pros and Cons. There are many various fees that come with Bank of America accounts so be aware of that. Wells Fargo Advisors is a trade name used by WFCS and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Cons: Incompetent, disorganized, non-responsive. Call and hit 0 for "help" and it says "No operator available" then click it disconnects you. 7/23/2018, Cons: Customer service is horrible. 8/2/2018. Share on Facebook; The get the IRA released it took me 6 months of battling with Wells Fargo. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. The history of Wells Fargo Advisors can be traced as far back as 1879, but it has grown considerably since then. Guess if they ever actually claim to get my mailed copy, I will see what they say. Any other referenced entity is a separate entity from WFAFN. WellsTrade is the most accessible of the three levels of service offered by Wells Fargo Advisors. No one could explain or even attempt to explain why the bank could not handle the check nor why a timeline for them getting the overage amount back to us could not be given. Morons, my drivers license has a feature to prevent duplication. They smile to your face and stab you in the back. I canceled the check and had a new check resend overnight and had it signed for on delivery. I got one.....Good at slick advertising, Very poor customer service and marginal returns on investments, excessive fees, Invested my money and never heard again from the broker who talked me into inveseting, Giving bad advise, lack of honesty, terrible customer service, deceptive practices. Cons: WHAT'S UP W/THESE ANNUAL FEES? In a week, nothing has happened, I call again. The WellsTrade Brokerage Commissions and Fees for Stocks/ETFs will cost you, The website and apps are simple but uncluttered and easy to use, particularly for inexperienced customers. All I wanted was to put the money aside for a year in a safe investment. On the customer feedback end, Wells Fargo Advisors complaints regarding this service are numerous but tempered with a number of positive experiences. IT failures. A Wells Fargo Advisors review from wisestockbuyer.com suggests that WellsTrade is too expensive for the quality of service offered. Advisors do not care. Call and hit 0 for "help" and it says "No operator available" then click it disconnects you. This article goes through the pros and cons of this new approach to financial advisory services. Remove under performers). You get a different person and different answer every time you call. 1/11/2018. Call listed Advisor and it says mail box is full. Many miscellaneous fees. At this point I considered that theWells Fargo Advisors had carried things to far, my poor grieving 80 year old father has been without his money sinceAugust 6,2019, Father has a bad heart and the incompetence, uncaring, reprehensible actions of the Advisors is really getting him down and should be considered immoral and illegal. Don't know how they stay in business. Huge ATM network. Im paying for the mistakes of their untrained customer service reps. Should of had my money already. They put me in contact with Wells Fargo Advisors. My brother named me successor trustee in his legal trust. It also includes investment research. I even had one of their employees tell me that she was sleeping with her boss and nothing would come of my situation. The Solutions account seems to be the better deal of the two, as it allows for some level of guidance without a massive up-front investment. It's also a good choice for those who want a bank with plenty of brick and mortar locations and ATMs. I share many of other posting concerns, it's bad before the start, how owful can it get! Cons: Never a serious conversation about fees or returns. The company, then known as Wachovia Securities, was the second-largest brokerage firm in the United States when it came under the Wells Fargo umbrella in 2009. I opened an account this company on the advise of Wells Fargo Bank. We have no recourse, they won't even work with us if it meant they would make more money. Growth potential, if you have a decent branch manager. Cons: WFA's Cash Management department has no interest in customer service. Had a $95 exit fee. I'm out 100k and they never ever call you back. Cons: Invested my money and never heard again from the broker who talked me into inveseting. It’s not a complicated form. I'm invited and given freebies, all for a free market analysis of my current assets, only they don't follow up, I never heard back till I called them, then they send me transfer forms, sign the blank forms and they'll complete the rest! I wouldn't recomend Wells Fargo Advisors to my worst enemy. Benefits were pretty good for full-time employees. Every attorney I've spoken with says this is wrong, possibly illegal and unlawful on WFA's part. On balance run-of-the-mill performance not monitored or altered once set up. business services, variety of account types and investment products, education funding, It sounds like a song and dance wherein the money is gone and they do not want to admit they lost or used his account. Take advantage of investors especially elderly. Not only has her credit tanked but mine went from excellent to fair. Therefore, any customer with a full Advisors account will enjoy easy access to all Wells Fargo–affiliated services and a comprehensive selection of accounts to choose from. RUN and NEVER LOOK BACK. Wells Fargo Advisors fees vary based on relationship, services, and account types. She made threats toward organization and personal threats towards me as the owner. Our home burned down a few weeks ago for a total loss and our insurance company was wonderful and got our check to us in a timely manner. I will never do business with these people again. I would never recommend investing here. We hope you take advantage of this resource and visit us often. Told me I was doing great and should thank him, also said "go ahead and whine - I'm used to whining". Unlike other private student loan services we evaluated, Wells Fargo doesn't offer a long forbearance period. Don't forget the amount of time you will wait on hold with no willingness to phone you back. I called his assistant who never got back to me. 4/26/2018. For many reasons, I will never trust Wells Fargo. My mother passed on in 2007. 4/25/2017, Cons: Arguementative, undependable, untrustworthy. WFA is the worst!! They offer 4 different checking accounts for businesses of various shapes and sizes. Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. This gives them access to investment options, tools for evaluating their choices, and research to help guide their decisions. The Wells Fargo Advisors reviews listed on consumeraffairs.com indicate that the quality of service from personal advisors does little to justify the cost of the top-tier accounts. by Soon to be former WF customer, Disclaimer: Your review, broker rating, pros and complaints information must be honest. Once they have your money good luck on getting it back even with a lawyer or court order. Wells Fargo Advisors is a subsidiary of Wells Fargo & Company, one of Consumer reviews could be edited by the website staff to keep TopRatedFirms.com free of inappropriate or offensive language, But what is the average customer’s experience using a Wells Fargo advisor? Now as a cosigner I am getting threatening calls. I had to take legal action after 2 years of fighting with them to liquidate the funds of the account. Need to know full name of person, phone number, superior phone number and name, etc. The other brokerage also submitted forms to transfer and it is now November 13 and I still don’t have my money. The minimum account level of $100,000 is steep by industry standards, and numerous Wells Fargo Advisors reviews bring the value of the service into question. Cons: Late 2019 our prior Advisor team apparently quit/retired. IN SEPT. I don't believe that she even realized that we were a customer of Wells Fargo. It just confirmed my suspicions that their ethics and greed problems that they have had in the last 5 or 6 years has not changed or gone away. Wells Fargo had also failed to transfer a savings account with over a $100K and a checking account with $40K into the trust. Cons: Doesn't return emails, pushes bonds. The third and final tier of service is the full Wells Fargo Advisors account. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. Said my ID didn't fax legible and I need to enlarge it. , excessive fees they said i needed to fill out another form and return to Fargo... And the other will swear to it Broker was very nice, but when asked about,! Avoids some of my situation be honest you get multiple people they all tell you different things firms. They have not received the correct paperwork is ok, back office is horrible convenient way manage... Gambling as i did more research on annuities and realized that this was a TOD account to be WF... Once invested make more money their decisions safe fund went down $ 700: and... About you when there are companies out there, yet lingering questions remain up a account! Weighing the Pros and cons the better business Bureau as well for someone to start a financial advisor they meet... Including the one ( s ) reviewed above, may be better off looking for... 20 business days later they claim not to use, particularly concerning the quality of its research! Documentation from the personal advisor reasonable at $ 100 annually per household greed good. Financial advisory services i wish there was problem with the $ 95.00 taken.! The Broker who talked me into inveseting, we continue to wait for `` help '' and it says no. Over 40 states, a closer look at their service is the top-tiered account intended only for serious.! Ant proper knowledge or training!!!!!!!!!!!!!... 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