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Business Profile

Investment Advisory Services

Invesco Investment Services, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Advisory Services.

Complaints

Customer Complaints Summary

  • 6 total complaints in the last 3 years.
  • 2 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:03/12/2024

    Type:Customer Service Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    While to trying to recover my daughter's password, which in itself was unnecessarily difficult, Invesco determined the access level of my account was beyond what it should be. In February, I was blocked from online access to my account. I have been updated each week with the news that they are still working on it and that I can always call for services. I find it unacceptable that I should have to call (be put on hold) to monitor my funds and make transactions. A MONTH later I still cannot access my account online.

    Customer Answer

    Date: 03/12/2024

    My adult daughter was trying to recover the password to her own account.  That issue was solved.  However, during that process, Invesco stated that I should not be able see my daughter's accounts through my account.  I initially had access because I had opened her accounts when she was a minor. I am an authorized owner on some of her accounts.  So it has taken Invesco over a month to remove the "unauthorized" accounts from my view.  While they are trying to figure it out, I can't log in to my account.

    Customer Answer

    Date: 03/15/2024

    Complaint ID: ********,

    Please provide more information on why my complaint was closed.  I provided the initial complaint and then a follow-up upon request.  The only feedback was asking about my daughter's age (21) which is irrelevant to the complaint. Her age doesn't have anything to do with me being blocked from online access to my account for over a month. The issue is the length of time it is taking to resolve the problem. It should not take this long to remove my access to her accounts. I can't access or read my online financial statements. I can only check my balances and make transactions by calling in - meaning I have to  call to have someone go over my entire portfolio before I make any decisions.  My overall retirement  portfolio is inaccurate because without online access, my investment management software cannot keep the accounts current. 

     

     

    Customer Answer

    Date: 04/01/2024

    I was given online access to my account on Wednesday, March 27. However, I still do not have online access to a joint account between me and my daughter.  They are still working on this issue that begin mid-February. I recently spoke with a representative who said it wasn't necessarily that the issue was so difficult, but that the IT dept was so busy. 

    Business Response

    Date: 04/05/2024

    see attached

  • Initial Complaint

    Date:06/06/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My husband set up a solo 401k **** ********** **** ** ******* with Invesco many years ago. He called to inquire about beneficiaries and was told no beneficiaries are maintained on this account. He asked if the funds would transfer to his spouse per federal regulations and the response from an Invesco representative was yes. My husband passed in Nov 2022 and as his surviving spouse I am not able to claim these funds as Invesco notes that I must complete paperwork that requires a signature guarantee or letter of testamentary. My bank will not provide the signature guarantee as they need paperwork from Invesco that I am the rightful beneficiary. I now have an attorney working to secure a letter of testamentary which is basically probate and results in substantial money and time. My complaint is why Invesco does not follow the federal regulations and provide information to such so the bank will process the signature guarantee?
    Thanks
    *** **********

    Business Response

    Date: 07/06/2023

    Dear Sir or Madam: 

    Thank you for contacting Invesco regarding a complaint, ID ********* *** ********** submitted concerning ****** ** ************ Solo 401(K) account. 

    In order to comply with the Invesco Privacy Policy, we are unable to disclose non-public customer information to non-affiliated third parties, including the Better Business Bureau. Invesco can only respond to the issue raised in this complaint directly to our customer. 

    We will, therefore, reach out to *** ********** directly to attempt to resolve this issue. 

    Please reference the communications ID listed above on any future inquires regarding this request. 

    If you have any questions regarding the above information, please call one of our Client Services Representatives toll free at ************** from 7:00 a.m. to 6:00 p.m. central time, Monday through Friday. We will be glad to provide future assistance. 

     

    Sincerely, 

     

    Tricia Wilson 

    Correspondence Representative 

    Customer Answer

    Date: 07/06/2023

    [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]



    Complaint: ********



    I am rejecting this response because:

    Invesco has stated previously that they will contact me and they have not.  The issue they fail to answer is why they do not follow 401k regulations regarding spousal beneficiary. 

    Regards,



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

  • Initial Complaint

    Date:05/27/2023

    Type:Service or Repair Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    After thirty years, I needed to close my 403(B) account - which Invesco controlled. In the beginning of May 2023, I completed the steps needed; was told a 'check was in the mail.' My account shows 'closed' with Invesco but four weeks later, still no check. When I called again, I was told that for a $20 dollar fee, my check could be overnight delivered by UPS. Agreed to this adjustment, but, a week later, still no check. Invesco has had my 20k for over a month. Invesco owes me this money ASAP.

    Business Response

    Date: 06/21/2023

    see attached

    We will reach out to the consumer directly. 

    Customer Answer

    Date: 06/22/2023

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

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

    * **** ******** *** ******** **** ** *** ******** ** ********* ** ********* ** ********    , and find that this resolution is satisfactory to me.




    Regards,



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

Invesco Investment Services, Inc. is NOT a BBB Accredited Business.

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