ComplaintsforAspire Financial Services, LLC

• Initial Complaint

  04/19/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  For the past month, I have been attempting to have Aspire release my 403b funds to purchase service credit toward retirement. They are aware of the deadlines provided by the pension office but they refuse communicate directly with participants and repetitively state they are expediting my case and will have someone call back to confirm and that never happens. You'll be decreased if you sit and wait for a call back. I call daily with a wait time of 2 hrs nearly. Their rldemands do not match the approval company so they just sent denial letters without communication about how to complete the paperwork properly based our needs as participants. If i complete out the staff membersband get denied that means they don't know either. When staff member answer they reference how we should speak ****** or ***** because they really know the job however why doesn't everyone know or simply not answer the phone? I've missed 2 different deadlines to purchase service credit because even when you have the employee on the phone review the form with you as you fill it out it comes back declined so you know they don't know either. After the 2nd decline you would think the company would return your call to figure out the problem but they don't. It's now costing me extremely more to purchase the service credit than I have in the account and I have been asking them to overnight the check to the pension office. It seems criminal for them to be allowed to withhold our money, refuse to hire and train knowledgeable staff who are on the same page when they are in charge something as vital as this. There are many participants who need to retire to care for ill family members and there are many ill participants who can not afford the hardships they have placed on us by tying up our money. It seems criminal. Why are they allowed to drain our finances and place us into further financial ruin without being held accountable?I feel robbed, cheated and disrespected.They have no regard for human life

  Business response

  04/26/2024

  Aspire Financial Services, LLC (Aspire) is in receipt of a communication from the Better Business Bureau (BBB) dated April 19, 2024 regarding a complaint filed by ***************************. Ms. ******* complaint noted delays in having a request for a distribution from her Aspire 403(b) account for purchase of service credits.
  
  Aspires records indicate that Ms. ******* request was processed on April 18, 2024.  Aspire has requested that Ms. ******* check be sent via overnight carrier and has provided **************** with the tracking information for the check.
  
  We apologize for the level of customer service **************** received in her experience with Aspire. Aspire is refunding distribution fees and overnight mailing fees to Ms.******* account and is working to improve the level of customer service we provide.

  Customer response

  04/29/2024

   
  Complaint: 21592314
  
  I am rejecting this response because: There is absolutely no excuse for the way in which Aspire handled my case and as I can see many others have been handled. There is a pattern of unacceptable incompetence on their part that the public has had to accept from them and it's unjust and inhumane.  They are handling our retirement accounts not by our choosing but due to the school district or financial network we are working with that is otherwise competent. I've had to cut ties with then for working with Aspire at this point. Aspire CHOSE to ignore month long requests to speak directly with supervisors or parties responsible for approving the distribution of funds to purchase service credits so that myself and other can retire due to critical needs costing us additional monies that we do not have, in this economy. I spoke to their staff over 25 times within the contract time frame making this request and the majority kept apologizing for not know the protocol and not being skilled enough to handle the case or see the discrepancy in the paperwork. So how can the lay person who does not work there adequately fulfill the requirements to get the distribution in a timely manner if the employees are lost as well? No hard working employee should have to endure this hardship to gain distribution of funds they've worked for years to accumulate. I'm not a vagrant asking for a hand out. I'm an employee who earned my money and asked that it be distributed to purchase service credit. I asked to speak with knowledgeable staff and was denied and told they do not make direct calls. However after filing this complaint they figured out how to expedite the distribution and call my home with a tracking number. This service could have been puree provided weeks in advance when i initially asked to avoid the additional costs I'd incurred. Not even a vagrant deserves the undue stress I endured from Aspire. This has not just started. It's  habitual and they should be ashamed of themselves and fined just as we are for the failure to comply to our needs which is very costly for us when they fail to meet our needs in an adequate time frame contractually. I'm very disgusted with their handling of my case. Maybe they should adopt ************************* practices or something because their process is far more fluid with knowledgeable reopens who navigate the dispersment process in a timely fashion. Aspire is doing a disservice to hard working people. 
  
  Sincerely,
  
  ***************************

• Initial Complaint

  12/18/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  In October 2023 I left employment at ****** to work in another school district. I had my 403b invested in Aspire. I filled out all of the paperwork to transfer my 403b balance of ********* to a Vanguard 403b account. ********************** closed and liquidated my account on November ********. Nothing was ever received at Vanguard. I have called numerous times and have been told I have to wait 30 days. 30 days has pasted and now I am being told a different story each time I cal. I was told that Aspire had wired my money into the wrong account. I was told that Aspire sent a check and the check was cashed. Each time NO proof is being provided to me. It is now over 6 weeks and I am still without my funds. I have been unable to speak with a manager our provided with any documentation to support there claims. CASE ******** I want my $17,732.05 returned

  Business response

  12/29/2023

  On December 18, 2023, Aspire Financial Services, LLC (Aspire)received notification from the Better Business Bureau that a complaint had been submitted by ****************************** 

  Aspire provides recordkeeping and related services for retirement plans and accounts.  Mr. ********* complaint related to his request to have his account with ********************** transferred to an account with another service provider and indicated that, despite his Aspire account being liquidated, his new service provider did not reflect receipt of the liquidated proceeds.

  In response to Mr. ********* requests to Aspire, Aspire provided information to ******************** regarding the electronic funds transfer to his new service provider.  On December 27, 2023,******************** confirmed to Aspire that the new service provider had located the proceeds sent by Aspire and were working to get them deposited into Mr.********* account at the new service provider.
  

• Initial Complaint

  10/16/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Aspire Financial Services refuses to address my login concerns. I have not been able to log into my account for several months due a technical error on behalf of Aspire Financial Services. Within the last several months, I have made dozens of calls seeking support. I have reset my password dozens of times. I am concerned that Aspire Financials Services is attempting to defraud me out of my retirement savings.

  Business response

  10/26/2023

  Aspire Financial Services, LLC ("Aspire") provides recordkeeping and related services for retirement plans and accounts.  Our records indicate that we spoke with Mr. **** on October 16, 2023 and worked with him to ensure he was able to log into his account.

• Initial Complaint

  06/09/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  CTA account *******, Plan *****. Contacted ******************************* about rollover in 4/5/23. They replied saying I needed the *** section filled out by Schools First; took care of that on 5/1 and SF signed the form as per their request and faxed it to them on 5/4 to ************. Again on 6/8 . Upon contacting them, they dont acknowledge receipt of the fax on 5/4 by SF , and today they said they cannot open the fax because its encrypted. They say to email them photos of the forms which I have done. **************-***************** Advisors and Aspire need to take responsibility for this claim, and resolve it by rolling over the funds to the selected party on the distributions form (******) . They also need to provide working phone numbers, personnel who will answer the phone calls, return phone calls on a promptly manner, provide a regular mail address as am option to communicate with them, update their fax numbers , provide fax numbers tgat due to the nature of the business they are in, do not appear encrypted blocking this way the fulfillment of distribution requirements they have in place. They need to refund me $20 for the fax they do acknowledge from 6/7, and for countless hours *** spent trying to get through to get my rollover executed.

  Business response

  07/11/2023

  In a July 3, 2023 communication, the Better Business Bureau (BBB) notified Aspire Financial Services, LLC (Aspire) that a complaint filed by ***************************** was being closed without a response from Aspire. 
  
  Upon logging into the BBBs website, a copy of a June 9, 2023 communication from the BBB to Aspire was obtained, however, that communication was not previously received by Aspire.  The June 9, 2023 communication was addressed to Aspire at *********************************************************************  Please be advised that Aspires mailing address, as shown on Aspires website, is ******************************,PMB *****, *********, ** 97008-7105.  To ensure receipt by Aspire, all mailed correspondence should be sent to that address.
  
  Aspire provides recordkeeping and related services for retirement plans and accounts,including a retirement plan account for ***************  ************** complaint expressed frustration with being able to submit distribution request forms to Aspire and being able to connect with representatives at Aspire. 
  
  In response to the information in Ms. ****** complaint, Aspire has confirmed that its fax lines and online form upload tool are functioning correctly.  Other individuals forms were received via these methods, without issue, during the timeframe when ************** indicated she was attempting to submit her forms to Aspire. 
  
  Further,Aspires records show multiple instances of Aspire representatives interacting with ************** by phone and email (e.g., providing information about various options for submitting forms, confirming receipt or non-receipt of forms from **************, relaying information about required plan sponsor/administrator approval sections on forms that were received not having been completed, etc.).
  
  Aspires records indicate that a distribution request form for Ms. ****** account (with required approvals) was received on June 8, ***************************************************** ****** account within two business days thereafter.  Further, Aspire paid for the proceeds of the distribution to be sent via overnight carrier to Ms. ****** requested rollover institution.
  
  Since that time, ************** has been in contact with Aspire to inquire about **** money that was not distributed from her account.  ************** was informed that this was because the distribution request form she submitted did not provide payment instructions for **** money in her account.  As such, a distribution of the **** money could not be processed based on the request form received. 
  
  As of the date of this response, Aspire is working with ************** to assist her in completing and submitting a request to have **** money distributed from her account. 

  Customer response

  07/13/2023

   
  Complaint: 20163781
  
  I am rejecting this response because: it took me 5 months to finally get Aspire to respond, and process the distributions. Aspire phone lines and fax lines are faulty for so many reasons hard to expand on in this short letter, the reps dont seem to know what theyre doing since they all advise to do different things and use different forms, they dont seem to read the notes or maybe d they dont keep notes about the case, they dont seem to have the time nor knowledge  to advise the customer on how to fill out forms, CTA is the cover, PCS the clerical job and Aspire handles the moneytoo many instances to deal with when trying to get the money rolled over. The initial step to take our money was so easy, one form , easy to fill out with precise instructions from them but quite a painful, confusing, frustrating, lengthy process when trying to get it back from them. Terrible customer service from a big company that does not have their act together from the design of their website, to the login, to the call service, the employees, etc. The return wasnt even good at all. What a mistake it was to have them manage my money; shame on CTA which never helped me with my dealings with Aspire. 

  
  Sincerely,
  
  *****************************

• Initial Complaint

  10/21/2022

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I am trying to consolidate my 403b accounts through the *** from two different districts. I initially submitted a separation of service form in and on August 25, 2022 received a response that it was not in good order. I obtained the third party agreement and tried to resubmit the form, but the form submission tool did not send any confirmation to me. I called the support line for assistance and they informed me to email my form to ********************************* on October 3. I did, but did not receive any response, so I sent a follow up email on October 9. I then tried to submit the separation of service form on the Aspire website form submission tool numerous times including on October 10 and October 20. I also emailed ******************************************** to ask for confirmation of my form. I called the support line on October 11 for confirmation of my form, and was told someone would call me, but no one has for 2 weeks. My third party agreement expires 60 days after issuance, and this whole situation has almost reached the 60 day ***** Since Aspire will not consolidate my accounts, I am being double charged for quarterly fees on my 403b.

• Initial Complaint

  08/31/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am seeking to roll my 403b with Aspire over to another account. I have been given two numbers to contact Aspire; both are answered by a call service, MAP Communications. On three occasions, I am told a specialist will have to call me back, but I have not received a call back. I am very frustrated that there is no other means of contacting this company or receiving the money that is mine. I am seeking a check cut for the rollover.

  Business response

  09/19/2022

  On September 7,2022, Aspire Financial Services, LLC (Aspire) was notified by the Better Business Bureau of a complaint filed by ************************************** on August 31,2022.  In her complaint, ****************************** expressed frustration that she had been unable to reach a representative to assist her with requesting a rollover distribution from her 403(b) account for which Aspire served as recordkeeper.
  
  Aspire apologizes for any delays ******************************* may have experienced in receiving a return call from Aspire.  At this time,however, we believe ********************************* questions and requests have been addressed by Aspire.
  
  Aspires records show receipt of a rollover distribution request for ******************************** account on September 2, 2022. Following a review of the form, on September 7, 2022, Aspire determined that the request was not in good order and notified ******************************* via email, asking for her to correct and return the request form to Aspire.  Additionally, on September 7, 2022, Aspire called ******************************* to relay that information via telephone.
  
  Later that day,******************************* returned the corrected request form, in good order.  Aspire processed a rollover distribution from ********************************* account on September 9, 2022.  Upon receipt of a tracking number from the custodian of ********************************* account on September 13, 2022, Aspire contacted ******************************* to provide the tracking information for the rollover distribution check.  

  Customer response

  10/20/2022

  I am disappointed to see that the time has lapsed for my reply. Thank goodness for the Better Business Bureau, I learned through this interface that they overnighted my rollover check. Unfortunately, they never communicated the tracking details to me until I again emailed them with this information and another request for the tracking details. I was able to work with ***** to recover the overnighted package one week after it was overnighted. 

   

  The interaction has been completed. I would never, ever recommend Aspire. I credit the Better Business Bureau with the resolution of this situation.

   

  Best,

  **************************************

  Customer response

  10/20/2022

   
  Complaint: 17896237
  
  I am rejecting this response because:

  I am disappointed to see that the time has lapsed for my reply. Thank goodness for the Better Business Bureau, I learned through this interface that they overnighted my rollover check. Unfortunately, they never communicated the tracking details to me until I again emailed them with this information and another request for the tracking details. I was able to work with ***** to recover the overnighted package one week after it was overnighted. 

   

  The interaction has been completed. I would never, ever recommend Aspire. I credit the Better Business Bureau with the resolution of this situation.

   

  Best,

  **************************************

  
  
  Sincerely,
  
  **************************************

• Initial Complaint

  06/20/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I terminated from my pervious employer Integrated Ortho LLC on 6/30/2021 and in September 2021 tried to initiate a rollover of my 401K. I requested the check be sent directly to me as advised by my new employers 401k servicer. I was told that my previous employer had not sent in my termination date to Aspire. I contacted my previous employer and they stated they had sent in the termination date and sent me a screen shot. I contacted Aspire again multiple times and was told someone would call me back. I never received a call back. I continued to call and was finally told that the did receive the termination date and to allow 24 hours for it to update to there system. I allowed additional time for it to update in their system and called back to do the distribution and was told it was updated in the Aspire system but that they had since changed to a different system and it is not showing in that system. Despite multiple calls and online requests to have the issue addressed so I could get my distribution I have had no success. My account has been losing money on a regular basis and feel that I should be refunded the amount of the loss due to them not allowing my distribution despite numerous requests and would also like all fees returned to me. If they would have given me my distribution 10 months ago as I requested I would not have occurred any fees.

  Business response

  08/02/2022

  Business Response /* (1000, 20, 2022/08/02) */ Aspire Financial Services, LLC ("Aspire") has been notified of a complaint filed with the Better Business Bureau by ***** *****. Ms. *****'s complaint notes that she had terminated employment with a previous employer and wanted to take a distribution of her account in the retirement plan sponsored by her former employer. Aspire provides recordkeeping services for the employer-sponsored plan. As recordkeeper for the employer-sponsored plan, Aspire cannot process a termination a distribution from a participant's account in the plan until the plan sponsor provides a last date of employment (i.e., termination date) for the participant. Ms. *****'s complaint indicates that when she originally contacted Aspire, she was made aware that Aspire had not yet received the termination date from her former employer, but that once it was received, she could request a distribution from her account. Ms. *****'s complaint notes that, at one point, an Aspire representative indicated that her termination date had been received but that due to a change to a different recordkeeping system, the termination date was not showing in the new system. As a part of the internal process for transitioning accounts to a new recordkeeping system, all transitioning participants were given a termination date on the former recordkeeping system. Aspire apologizes that the representative Ms. ***** spoke with was not aware of this and incorrectly indicated that a termination date had been received from Ms. *****'s former employer. Aspire has reached out to the former employer multiple times to request the termination date for Ms. *****, but as of the date of this response, has not received the termination date. Upon confirmation of the termination date from the former employer, a distribution may be requested from Ms. *****'s account.

• Initial Complaint

  06/09/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am attempting to transfer funds from a former employer's retirement account held by this company to my ******** account. They have locked my account since I have changed addresses. I have provided the proof of identity they required. Account is still locked and I have left several emails and called and have received little to no correspondence back. The issue is still unresolved. I have started attempting to leave profanity-laden emails to get their attention and still nothing. I just want my funds transferred and to be finished with this company. Please help!

  Business response

  07/26/2022

  Business Response /* (1000, 19, 2022/07/26) */ Aspire Financial Services, LLC ("Aspire") has been notified by the Better Business Bureau of a complaint filed by *********** which indicated that Mr. ***** was attempting to transfer his account to another service provider, but that Aspire had locked his account since he changed addresses. The complaint indicated that he had provided proof of identity required, but that his account was still locked and that his requests had not received a response. Aspire's records show that Aspire has made multiple attempts to reach Mr. ***** via phone and email between June 9, 2022 and present to offer assistance. We encourage Mr. ***** to call Aspire at ************** with any questions or concerns about account access or how to request an address change and a transfer from his account.

• Initial Complaint

  05/28/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have a 403b through this company. I want to make a few changes to my account and have a few questions before I proceed online with the transaction. There is absolutely no customer service with this company! Every time I call them I get this answering service. Everyone that answers the phone at the answering service cannot answer any questions. They cannot look up my account. They are only able to take my information down and they tell me a representative will get back to me. Unfortunately, a representative never calls back. I made several calls and left messages with the agents that answered the phone at the answering service. No representative from Aspire calls me back! How can this company be allowed to handle peoples 403b accounts!!! I lost trust in this company. How can I ever withdraw Money from this account when the time comes if there is zero customer service and assistance. They should answer their phones or call back in a timely fashion like any other company across America does! I stopped all future contributions to this company because they cannot be relied on.

  Business response

  07/18/2022

  Business Response /* (1000, 10, 2022/06/30) */ On May 31, 2022, Aspire Financial Services, LLC ("Aspire") was notified by the Better Business Bureau of a complaint filed by ******* *******. In his complaint, Mr. ******* indicated that he wanted to make changes to a 403(b) account for which Aspire provides recordkeeping services, but that he had some questions that he wanted to discuss before making these changes. Mr. *******'s complaint expressed frustration with the fact that he spoke with representatives who could not answer his questions and instead offered a call back, which he did not receive. Aspire's records indicate that an Aspire representative spoke with Mr. ****** on May 31, 2022 and explained that the questions he had were related to the investment of assets in his account. Aspire, as recordkeeper, does not provide investment advice and is not able to assist with questions about investment options in the account. Therefore, Mr. ****** was asked to contact the financial professional associated with his account. For additional questions, Mr. ****** can contact Aspire at (XXX) XXX-XXXX.

• Initial Complaint

  03/23/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My attorney filed a QDRO 1/26/22. This information was sent to Aspire. I contacted Aspire customer service 2/21/22 and spoke with Katie. A case # was opened up. Katie told me the entire process takes about 2 weeks. 3/4/22 I left a message for a manager, Darren to return my call. No response 3/7/22 called at 9:30am left message for someone to return my call. 3/7/22 I called customer service. Spoke with Alexis W. She said Megan B. is my relationship manager and transferred me to her vm. Vm was full. 3/7/22 I called at 3:15pm left Megan B. a message. No return call. My client relations manager at Wells Fargo also called Megan B. and left a vm and sent an email. No response. I sent an email 3/18/22 to Megan B. at Aspire. No response. March 15, 2022 I received a generated email that my inquiry has been received and under review by my relationship manager ( Megan B.) 3/15/22 I again left a vm for Megan B. No response. 3/21/22 I sent another email to Megan B. No response. 3/22/22 my QDRO attorney emailed Megan B. No response. 3/22/22 my client relation manager from Wells Fargo called and emailed. No response. 3/22/22 I emailed relationship manager, Megan B. NO RESPONSE. WORST CUSTOMER SERVICE EVER- I will never ever work with Aspire ( A PCS Retirement Company) again!!!! If I didn't return calls or emails like this relationship manager, Megan B. I would be fired!

  Business response

  05/13/2022

  Business Response /* (1000, 13, 2022/04/25) */ Aspire Financial Services, LLC ("Aspire") has been notified by the Better Business Bureau of a complaint filed with their office by ***** *************. Ms. *************'s complaint indicates that her attorney filed a domestic relations order ("DRO") on January 26, 2022 and that information regarding the DRO was sent to Aspire. Ms. *************'s complaint indicates that she and others attempted to contact Aspire on multiple occasions to get information about the processing of the DRO, without success. Although Aspire's records show attempts to respond to Ms. *************'s and others' inquiries regarding the status of the DRO, we understand Ms. *************'s frustration with the DRO process. Aspire provides recordkeeping and related services for retirement plans, including the retirement plan which is subject to the DRO which names Ms. ************* as Alternate Payee. As recordkeeper for the plan, before Aspire can process a DRO, the DRO must be deemed qualified by the retirement plan's fiduciary. The DRO has been forwarded to the retirement plan sponsor for review and approval by the plan's fiduciary. Upon receipt of notification from the plan's fiduciary that the DRO has been deemed qualified, and direction to transfer assets from the account of the plan participant to the account of the Alternate Payee, Aspire will process the qualified DRO.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩