Reviews

This profile includes reviews for Inspira Financial Trust, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Inspira Financial Trust, LLC

  2001 Spring Rd Ste 700 Oak Brook, IL 60523-1890

  
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  Millennium Trust Company

  8 Penn Ctr West Suite 101 Pittsburgh, PA 15276

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  Millennium Trust Company

  PO Box 940287 Plano, TX 75094-0287

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  Inspira Financial

  Omaha, NE 68164

Review Details

• Review fromJanie G

  Date: 02/08/2023

  1 star
  My previous employer moved my IRA to this company. Due to their website not working properly, I was forced to stay with them and "open an account". A few years in, through strange fees from "missing address fee" to "yearly fee" they drained my account to negative, forcing me to liquidate my account. After liquidating my shares I asked to close my account and send me the remaining funds, however their fees to send me my money and close the account exceeded what was left of my IRA.
  They basically drained me of my IRA. If any attorney is reading this and wishing to start a class action lawsuit, count me in!

• Review fromJanice L

  Date: 02/07/2023

  1 star
  If I could give no stars, I would. My *** was transferred from another bank to Millennium Trust. I withdrew the money, because it was being quickly eaten up by hidden fees from Millennium Trust. Millennium Trust then sent an incorrect 1099R to the ***, saying that the taxable amount of my *** distribution was the SAME as the gross distribution. In fact, only a tiny fraction of the distribution was taxable. I sent them my bank statements and social security statements showing that I had made post-tax contributions to the account. I hassled with them for weeks to get them to correct the 1099R. I even sent them the *** instructions for filling out the 1099R, but they still refused to issue a corrected form. I told them that they could leave box 2a blank, but they insisted on putting in the gross distribution amount as the taxable amount. They said this is the way they always filled out the 1099R, and they would continue to screw over their customers in this fashion.

• Review fromYu Z

  Date: 01/31/2023

  1 star
  This company justfies a negative rating.I cannot agree more with other reviewers. The only thing this company is good at is taking all your retirement funds into their possession. This company is so despicable to invoke this complaint. I'm also filing a complaint against my former employer GE for irrespossibly rolling my retirement funds into their hands!!! Any company that cares about their employees should never do that!!! I hope all resposible employer will listen so less people will fall in the trap.GE rolled my pension funds to Millennium Trust company after I left GE, without my approval!!! Once the funds got rolled into Millennium, it became their piggy bank. Even through it is a cash account, the funds has been shrinking ever since. If I leave it there unattended, all my funds will eventually become theirs. There are monthly maintenance fees and fees for paper statements. In order to open a new account, one need to first provide a credit card for them to charge fees. I have never seen any other financial firm charging such outrageous amount of fees.What do they do for you with such outrangeous amount of fees? I have to make numerours calls in order to take my funds back from them. The majority of my pension funds are post tax dollars. Every representative I talked would initially tell me all my funds are pre-tax, even though GE provided them roll-over document clearly stating the post dollar amount. I have to convince everyone otherwise. They intentionally keep the distribution process difficult, need to prepare various documents, and unnecessarily long wait. Even after all my explanations, they still produce a tax document for my distribution indicating all the funds are pre-tax and refuse to make any corrections. They don't care if the costumers get double taxed. Why do you change all the outrageous fees and yet cannot even get the tax document correct, and yet brazonly refuse to correct it!

• Review fromCh M

  Date: 01/31/2023

  1 star
  Low life company took my money when transferring to a new career Shame. Devoted 14 years of my life to this company thinking I was building my 401k to be taken by this scam called Millennium Trust Company
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  At Millennium Trust we take pride in reuniting individuals with their retirement funds. We are unable to locate your account based on the information provided in your review. Please contact us directly so that we can take a deeper look into your account and further assist you.

• Review fromElizabeth M

  Date: 01/25/2023

  1 star
  The only way this company makes its money is by keeping money out of the hands of the people it belongs to. They will do absolutely everything in their power to keep you from getting access to or transferring your money. Like so many others, I had a former employer (which was itself shady) automatically roll over my retirement accounts into Millennium. It took a year and a half, a financial advising organization, a CEO, and threat of legal action to get *some* of my money back. Be prepared to fight long and hard if they have your money. If a prospective employer does automatic rollovers to them when you quit, don't work for them. This organization should be put out of business and what they do should be against the law.
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  Were glad we were able to connect with you and reunite you with your retirement funds. When your prior plan sponsor directed the rollover of your funds, they directed multiple accounts to be established according to the tax status of the funds. When you first contacted us and worked with us in 2021 to transfer your funds, we only received paperwork regarding the **** portion of your accounts and processed the transfer accordingly. Were glad that you were able to complete the process for taking control of your remaining account. Please contact us directly if you have any questions regarding the process for either distributing or transferring the remaining amount.

• Review fromBrittany M

  Date: 01/24/2023

  1 star
  I was apparently rolled over in the beginning of 2022 but didn't received any mail notifications until 2023. I have no idea which former employer gave them the account but even after I asked over the phone they were vague and sketchy about giving me that information. I tried to find out via their website, and though they advertise an option, it does not allow you to actually ask that question. So far, I am dissatisfied with their service (They took $10 in sold stocks to pay to opt into getting me paper updates that didn't come until a year after I was notified that I had an account with them to begin with - and I was not given the option of opting out). I hope things get better, but reading the other reviews here isn't giving me much hope.
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  Millennium Trust provides an automatic rollover *** ******** to employer-sponsored retirement plan providers with missing or non-responsive participants. This feature would have been defined in your previous employers retirement plan documents and allowed your plan to direct the rollover of your funds into an *** for your benefit. Your plan, in accordance with its provisions, chose Millennium Trust as the *** ********* for these rollovers and directed the initial investment and agreed to the fees and services that would apply to your *** when they directed the rollover of your retirement funds. As part of this process, you should have received notice from your previous employer and/or their designated recordkeeper providing you with the opportunity to direct a distribution or transfer of your funds to another ********* if you did not wish to rollover to Millennium Trust. In addition, we also sent a welcome letter to you once your account was established with us.At Millennium Trust we take account security seriously, which is why we typically do not provide sensitive account information to callers prior to them verifying their identity and taking control of their account. Were glad that you were able to go online and complete the process so that we could reunite you with your retirement funds. Please contact us directly if you have any other questions or if we can help you direct an investment or other transaction.

• Review fromYu R

  Date: 01/24/2023

  1 star
  It looks like my story is pretty similar to everyone else - my retirement account was apparently transferred to MTrust after I moved - no notification until I received a year-end "statement" showing that they took fees out of an account that I had no access to. Trying to get ahold of anyone was impossible as I just watched my mini account quickly lose money to fees (it wasn't very large to begin with). Finally I received an additional letter with this year's statement (now that there is less than $20 in my account) with instructions on how to set up my account online. That was a nightmare and now I'm waiting for my "transfer" - not sure what the point is now.

• Review fromBeverly M

  Date: 01/23/2023

  1 star
  Do not allow customer to talk to anyone. No help in resolving issue.
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  Were glad we were able to connect with you and resolve your issue. Please disregard the fee invoice you received. Your account will be processed and closed as discussed. Please contact us directly if you have any additional questions.

• Review fromJ

  Date: 01/21/2023

  1 star
  Absolute scam of a company. Never ending requests for "missing paperwork" or "need a signature"The fees they charge eat up most of the profit you made.Trying once more to transfer my account. I won't hold my breath
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  When you submitted your distribution request online, you indicated that you were directing a rollover to an employer sponsored qualified plan; however, you provided information for another *** at a successor *** provider. Although distribution and rollover requests can be submitted in our online platform, ***-to-*** transfers are required to be initiated on a signed copy of the receiving custodians paperwork. We sent you an email with our transfer instructions and a request for you to work with your successor custodian to provide us with their transfer paperwork. Once we receive the necessary paperwork, we will expedite your transfer.

• Review fromJames S

  Date: 01/19/2023

  1 star
  Absolute scam of a company. *********** automatically transferred an *** to this organization without any notification to me. The first communication I received from Millennium Trust was a statement with notice of a $35 annual fee. Upon calling customer service for a refund due to no formal communication of account existence and waiting on hold for an hour, I was told that no manager was available to talk to. They said that a request was placed for refund but not to hold my breath and that I would need to close my account before hand. When closing my account I was charged an additional $10 fee. $45 dollars in fees for a tiny *** of ~$100. Shame on *********** for moving funds there without authorization and please avoid using Millennium Trust at all.
  

  Inspira Financial Trust, LLC

  Date: 02/28/2023

  Were glad we were able to connect with you and reunite you with your retirement funds. When *********** resigned and appointed Millennium Trust as the successor custodian of your funds, you should have received a communication including an explanation of the resign and appoint process as well as details regarding the fee schedule that would be applicable to your new account. This communication also would have indicated that you had the option to transfer your *** to another custodian or distribute your funds if you did not wish to transfer to Millennium Trust. In addition, we also provided a six-month period for previous *********** account holders such as yourself to transfer or distribute their funds prior to fees being charged if they did not wish to remain at Millennium Trust. Were glad that you were able to complete a distribution online and have your funds sent to you that very same day. Please contact us directly if you require any further assistance.