Customers’ Wells Fargo Advisors reviews claim that staff are dismissive and don’t seem knowledgeable enough to resolve problems. We had a VP of Wells Fargo as a client in our business. The Wells Fargo Advisors fee schedule for these accounts is annual and based on assets, so avoids the complexity associated with the higher tier account—at the cost of flexibility. 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. This suggests that the more demands customers make of Wells Fargo Advisors, the less likely those demands are to be met. Told me I was doing great and should thank him, also said "go ahead and whine - I'm used to whining". 5/18/2016. Wells Fargo. by Annette Wyatt, Call listed Advisor and it says mail box is full. Cons: Insensitive, unresponsive to request, inability to listen and provide what the customer needs. I was sent to see a financial adviser after having my taxes done to get a deduction on my state and federal taxes. 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). Continue reading. It took a year of calling and my daughter was told as long as you are making your payments then you don't need help. Those who wish to streamline their investments with others part of the Wells Fargo parent company may also want to consider it. This kind of treatment is why Wells Fargo is often receiving negative reporting in the news. Disclaimer: TopRatedFirms.com reviews of companies is our personal opinion. I will never do business with these people again. IN SEPT. This tier of service that Wells Fargo Advisors offers includes personal brokerage services. Expectations. Growth potential, if you have a decent branch manager. Speaking with WFA I was told they hadn't received the check. 7/20/2018. by CMYteam, Wells Fargo Pros & Cons. Make it very difficult to transfer money out. I worked at Wells Fargo full-time for more than a year. Easy to avoid fees. $150 FOR 2017, $125 FOR 2016. You can also access your Wells Fargo Wallet in the Wells Fargo app for easy payments. WFA told me not to do that, and after looking into it a bit more told me they had the check but it was being processed and the money would be in my account next Tues. IN SEPT. The missing 42% was 11% to them in fees and 31% squandered by their ineptitude. They now lost the check and are claiming they never received although oddly enough they did in fact cash it! Only when WFA changed the account profile sheet did we really see how much we were paying in fees for nothing! I'm out 100k and they never ever call you back. IT failures. I did that. With our carefully orchestrated Wells Fargo Advisors Envision process,we seek to assure our clients that all financial decisions we make on their behalf will be consistent with their goals. Called him several times to find out if there was something else he would recommend since I was losing so much money and he never called me back. 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. I am closing my accounts with WFA and considering transferring all of my accounts out to Well Fargo. Wells Fargo Advisors reviews show that customers are unclear on the value of this service, however, as Wells Fargo Advisors … No one will speak with me now since they uttered the word- legal. A month ago I requested a full distribution and now I have to call twice a week and find out what is going on from some clueless moron on the other end. Do not bring your investments to that broker. More branches. Share on Facebook; Copyright 2010-2021 TopRatedFirms.com. Within 3 years they "managed" a million plus dollar corpus into about 25-30% of that. Double the fees compared to market. Remove under performers). 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. We run millions of dollars through their bank each year. I submitted my forms to transfer a 529 account to another brokerage in July. Sent via another fax machine. Has been a tremendous help and is an asset to Wells Fargo. Great benefits. The Wells Fargo Advisors reviews listed on, Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. No access to cash when needed. by joe trump, Advisors do not care. Wells Fargo has over 5,000 Branches across 40 states compared to Bank of America‘s 4,000. by Anonymous, My husband and I have been loyal customers to Wells Fargo for years. I called back in and was told he had connection issues. WFA continued to say they hadn't received the second check either. by Debbie, Cons: WORST CUSTOMER SERVICE, LIE, CHEAT & STEAL. DO NOT TRUST WELLS FARGO ASSOCIATES WITH EVEN A PENNY OF YOUR MONEY, YOU WILL NEVER SEE IT AGAIN/ IT'S TIME TO GET THE MEDIA INVOLVED. Sent email to listed name and still no reply. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC (WFCS) and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. In summary, there are three tiers of service that depend on the customer’s specific needs: To get a clearer idea of the overall quality of service, each tier will be considered in more detail, alongside Wells Fargo Advisors reviews. Was not impressed with the investment advisor who set up my account. Simply put, this is an investment planning program designed to account for the personal needs of the customer, instead of expecting them to fit one of a few standard templates. Wells Fargo Intuitive Investor is not tied to a particular company or product and … High fees: With fees starting at 2% for its investment management programs, Wells Fargo Wealth Management fees are higher than the industry average of 1.17%, according to a 2019 study by RIA in a Box.However, it is worth noting that the firm says its rates are negotiable. I sent a copy via mail. Overview Overview. said never said refund, by Steve, Not Wells Fargo! You get a different person and different answer every time you call. I share many of other posting concerns, it's bad before the start, how owful can it get! WF Advisors' cash management team demonstrated a SERIOUS DISREGARD FOR CUSTOMER SERVICE when I tried to transfer money from outside IRA's to a newly created IRA at WFA. make it very difficult to transfer funds out of the account. He and mom had a joint account with survivorship. They don't return phone calls for days and in one instance the adviser I was doing business with just gave may account to someone else who I had never talked to. Those with the accessible, low-cost WellsTrade service have fewer complaints that those investing large amounts of money through top-tier Wells Fargo Advisors accounts. 4/5/2019. Pros and Cons – Wells Fargo. I have had my IRA for ten years putting a little away for a first time home purchase. 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. If we could lower and stretch it out, they would be making more money. While it’s unlikely to confuse customers, certain tasks are more difficult than they should be due to the layout. In addition to industry-standard personalized service from a Wells Fargo advisor, customers at this level also benefit from Envision Planning. Wells Fargo Advisors reviews, however, show that their advice often provides customers with mixed or poor results. Pros. We spoke with several different firms and were very comfortable and confident with using Wells Fargo. Company Overview FAQ. It makes me want to quit my job working for Wells Fargo. We have been unable to access it for FOUR MONTHS because Wells Fargo says they have not received the correct paperwork. Better customer service. I got one.....Good at slick advertising, Cons: Really difficult to close out account. Had a $95 exit fee. I opened an account this company on the advise of Wells Fargo Bank. Wells Fargo Advisors Solutions—Pros and Cons. Cons: Never a serious conversation about fees or returns. Disclaimer: Your review, broker rating, pros and complaints information must be honest. I did. After speaking with the Canadian office of Vital Statistics and with the Advisors, we ordered a 2nd certificate at the expense of $200 an authentication/authorization certificate. I reckon they think the government will bounce a check. 4/26/2018. In a seven year period during which the S&P 500 grew by slightly over 100%, my nest egg grew by 58%. That lady has the wrath of the devil in her. by Dee Dee, 5/15/2017. If you miss your first payment, however, Wells Fargo doubles that number and requires 48 on-time payments. They do not honor their word. Every attorney I've spoken with says this is wrong, possibly illegal and unlawful on WFA's part. Click to view AdvisoryHQ's, ► Get Featured on AdvisoryHQ. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. WellsTrade is the most accessible of the three levels of service offered by Wells Fargo Advisors. 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. Back office ignores repeated requests. Consumer reviews could be edited by the website staff to keep TopRatedFirms.com free of inappropriate or offensive language, 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. WHAT'S UP W/THESE ANNUAL FEES? Related: LPL Financial Reviews | What You Need to Know about LPL Financial. Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. It also includes investment research. WF does seem to try to do the right thing for customers. It was a TOD account to be distributed to me and my sister's children. RIAs have a fiduciary duty to work in your best interest. Instead of paying fees to have your paycheck cashed, for example, you can have it … Do not follow up and when there is an issue one will deceive and the other will swear to it. Call listed Advisor and it says mail box is full. The Wells Fargo Advisors online account system is reportedly slow to respond, laborious to use, and unsuited to active investors. I wouldn't recomend Wells Fargo Advisors to my worst enemy. 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. She made threats toward organization and personal threats towards me as the owner. In addition to the benefits listed above, this tier also offers a personal advisor that the customer can meet with face-to-face to discuss their accounts. I reached the age of termination for my CA UTMA account and have gotten nothing but lies and bad information from the advisors. The representatives have been indifferent, somewhat incompetent , and lacking in any form of customer service. This really confirmed that my decision to move my mutual fund account elsewhere was the right move. SOMEONE NEEDS TO BE FIRED FOR NOT RETURNING PHONE CALLS! 12/3/2019. I don’t understand how a firm can be so incompetent. I contacted Wells Fargo, they said I needed to fill out another form and return it. Need to know full name of person, phone number, superior phone number and name, etc. For many, the very fact that Wells Fargo Advisors is part of a well-established banking company is comforting, but that can also bring problems. The third and final tier of service is the full Wells Fargo Advisors account. 5/2/2018, said termination fee was transfer fee. This is especially true for investors who need the services of a financial advisor they can meet with in person. You send it all paperwork and they still find ways to delay everythingetting. I've been trying to redo my investments (i.e. Any other referenced entity is a separate entity from WFAFN. P Arinsbe, 7/1/2016, cons: Giving bad advise, lack of honesty, terrible service... Advisor review on investorjunkie.com best money i ever spent and if your first payment on. Advisor account my job working for Wells Fargo says i will never trust Fargo! They send me more forms, all filled out, they would make more.! Massive stroke, was removed from life support and passed away on 24! An asset to Wells Fargo Advisors customers want to feel that their advice often customers! At their service operates on three tiers, with varying services and benefits depending on the. 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