This Business is not BBB accredited
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This company offers wealth management services.
This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
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Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that lowered the rating for Phi Beta Kapital Investments Inc include:
- Advertising issue(s) found by BBB
Factors that raised the rating for Phi Beta Kapital Investments Inc include:
- Length of time business has been operating.
- Complaint volume filed with BBB for business of this size.
- Response to 1 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
- BBB has sufficient background information on this business.
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||0|
|Total Closed Complaints||1|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
Type of Entity
Business ManagementMr. Richard Beidl, Owner
Number of Employees
Investment Advisory Service
Alternate Business NamesImpact College Planning Phi Beta Kapital
Industry TipsDebt Relief Strategies
THIS LOCATION IS NOT BBB ACCREDITED
10875 Rancho Bernardo Rd #106
San Diego, CA 92127 Directions
THIS LOCATION IS NOT BBB ACCREDITED
1477 E Shaw Ave #130
Fresno, CA 93710 Directions
THIS LOCATION IS NOT BBB ACCREDITED
7700 Irvine Center Dr #800
Irvine, CA 92618 (888) 236-1739 (714) 784-0900 Directions
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Additional Phone Numbers
- (888) 236-1739(Phone)
Complaint Trends - Last 3 Years
Customer Review Trends
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
|Customer Review Experience||Value|
|Positive Review||5 points per review|
|Neutral Review||3 points per review|
|Negative Review||1 point per review|
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Read Complaint Details
Complaint: I enjoyed Consultation and Evaluation with Phi Beta Kapital Corp. this morning/afternoon. While I believe in your expertise as a financial strategist unfortunately my wife does not feel the same enthusiasm. She doesnt understand how a company Accredited by the Better Business Bureau stating in a formal invitation exclusive and limited to a small number of people, with no obligation to Please call today to schedule your complimentary consultation and receive your $100 Gift Card! to enjoy either the acclaimed Ruths Chris Steak House or McCormick & Schmicks with a $100 gift card can mislead a person like that. I accepted your invitation and called the number on the invitation and scheduled a consultation time at 10:30am today Tuesday December 10. I came to your office at 10:30am for the consultation which we completed and you concluded your evaluation and recommended next steps which we are not qualified and we could continue with a 4 step education process and you would waive your fees. As we were walking towards the elevator I asked you about the gift cards and you said you didnt have any and that you could not give cards to everyone because people would be scheduling appointments just to get the gift cards and I said that would not go over well and that I was really interested in your services.I think at this point we are not going to move forward with your services and have elected that you send us the $100 Ruth Chris Steak House gift card as advertized on your invitation for the time I invested today on completing my complimentary consultation and evaluation. P.S. BBB, I have a scanned in image of the invitation available at your request. I have also received an email that he is contacting his attorney Oswald & Yap, in Irvine about this.
Desired Settlement: I would like the $100 Ruth Chris Steak House gift card as advertized on the invitation for the time I invested today on completing my complimentary consultation and evaluation. P.S. BBB, I have a scanned in image of the invitation available at your request. I have also received an email that he is contacting his attorney Oswald & Yap, in Irvine about this.
We rarely run these promotions because 50-70% of those that
respond simply want the gift card and nothing else, and most of those people
have little or no assets. They know there is nothing we can do, but they
believe it is OK to cheat a gift card or free meal out of the offering
firm. We therefore have processes in place to reduce that economic
He then indicated, in no uncertain terms, that his wife would never agree to come in if he came home without the gift card. At this point I told him that if it's just about the gift card, then I'm not going to extend that offer. We want to help people that want and need help. He then left and emailed me, demanded the gift card, and then threatened to file a complaint with the BBB and to slander us if we did not give him the card. I advised him that I would contact my attorney if he did, and I have done so.
The customer was not interested in any help, had no assets, refused to bring his spouse, brought no documentation from which we could even evaluate his situation, avoided replying to our confirmation call even though the call center told him this was necessary, misrepresented his assets to get on the mailing list, and then refused to come in for the second meeting (which is a requirement of the program, and which I offered, even though he did not qualify). Simply showing up and demanding a gift card does not obligate us to give one away. He knew he had no assets and avoided the steps we take to eliminate those that are not qualified for this offer. He made it a point to tell me that his career has been in sales and he gets these offers all the time. He clearly knows how these offers work, as he made every effort to attempt to obtain a gift card for which he knew he was not eligible, through an offer that was not intended for him since they clearly misrepresented their assets to get on that list. We have given the gift card to a number of people that did not move forward with our recommendations, and several clearly sought only the gift card. The difference is, they were qualified and actually gave us the chance to help them, even if they rejected that help.
Better Business Bureau:
There was no process in place and you invitation states specifically Please call today to schedule your complimentary consultation and receive your $100 Gift Card!” “to enjoy either the acclaimed Ruth’s Chris Steak House or McCormick & Schmick’s with a $100 gift card”.
The Call Center did call
and instructed me what to bring, the address and to confirm the meeting
You did call to confirm
the meeting and did not state that this was a 2-meeting process nor did your
Your invitation specially
states that this is a complimentary consultation (not plural) and it is never
stated on the invitation nor was it ever discussed by your call center that
more than one meeting was required.
I did not misrepresent my
income to get on your call list, as stated the last 2 years I have not been
making the money I have needed and have used most of my retirement money. Over the last 15 years I have averaged around
200K in wages and commissions with my highest year of 454,000. Your call list is from 2 years ago.
I told the call center
that my wife is not able to attend due to the fact that we have an infant baby
and she is not comfortable to leave him at home. They said that fine and scheduled the
appointment. I did call back and confirm
the appointment and that they were excited to offer help.
I had a briefcase with me however after several hours of discussion he never asked to see my information.
I came to the office with the intention of ******* helping me with my retirement issues and that the invitation was nicely prepared and that he was willing to help “a small number of people, with no obligation, and once I have concluded my evaluation, it will be my pleasure to send you on to enjoy either the acclaimed Ruth Chris Steak House or McCormick & Schmicks with a $100 git card” I completed my end of the deal I went to the free consultation and by *******s own words he concluded his evaluation and I was not qualified for his retirement program however I could come in for some an additional meeting to see if I was qualified for other programs. I asked for my free gift card and he said he didn’t have any that he would send me one in the mail and he obviously had my information. I never received the card and when I sent him an email he stated that I had to qualify to receive the card. You have a copy of my original invitation and I challenge ******* to show me where it states that I had to qualify and he even stated to me in the lobby that he changed the invitation to reflect that issue and that I must have gotten one of the ones that weren’t changed. Not my problem. However ******* could have avoided all this process if he would have kept his word and gave me the gift card and he would have had a new client which was the whole purpose of the invitation. The truth is ******* did not want me as a client and did not want to give me a card.
Business Response: Our position remains the same.
Better Business Bureau:
Please be advised that I am committed to mediation and/or arbitration through the BBB. I am responding to this letter with a copy of my Orginal Invitation that I accepted and completed.
Again, I accepted Phi Beta capitals invitation (that is attached) and called the number on the invitation and scheduled a consultation time at 10:30am Tuesday December 10. I came to their office at 10:30am (I spent about and 1 1/2 hours for the consultation which we completed and you concluded your evaluation which was his own words “that you did not qualify for the program”. As we were walking towards the elevator I asked you about the gift cards and you said “you didn’t have any and that you could not give cards to everyone because people would be scheduling appointments just to get the gift cards” and I said that would not go over well and that I was really interested in your services.
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID .*******, , and find that arbitration is necessary.