Business Profile

Investment Security

Wells Fargo Advisors

Headquarters

This business is NOT BBB Accredited.

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Important information

Customer Complaint:
BBB has received consumer complaints about Wells Fargo Advisors which allege difficulty using the company's services, difficulty accessing money and transferring funds to outside accounts, and poor customer service.

Complaints

This profile includes complaints for Wells Fargo Advisors's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

154 total complaints in the last 3 years.
28 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.

Initial Complaint
Date:08/29/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
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.
I've inherited an *** from my deceased mother. They made me open a new *** with Wells Fargo even though I told them I wanted access to the money immediately. they sent a claim form with the option of transferring the funds to a checking acct. I opened a checking acct with ********************************************* thinking that would make it easier. they got my papers on 8/25/25 but never called me to tell me about the problem. I called them 8/29/25 and was told I can receive a check but I cant have the funds transferred to a checking acct. I asked 'Why is it an option on the *** beneficiary form?" and the response is its a "general" form. I have been given the runaround and poor explanations of this process. My siblings are having major problems with them too. Bad company
Business Response
Date: 09/15/2025
September 12, 2025

***** V. ******
*********************************************************************************;

Subject: Were responding to your concerns
Wells Fargo case number: *****************
Account number ending in: 9752, 4712, 3162
**********************, case number: ********
Client name: ******* M. ******

Dear ***** V. ******:

We would like to express our condolences for the loss of ******* M. ******. We completed our research and are
providing details to address concerns you expressed in your communication to the Better Business Bureau which
we received on September 2, 2025, regarding your beneficiary claim for the Wells Fargo Advisors Individual
Retirement Account ***** ending in 9752. These concerns were forwarded to the Enterprise Complaints
Management Office for review and response.

We regret any frustration or inconvenience this matter may have caused and with the difficulties you experienced
with the digital form. At Wells Fargo, we pride ourselves on developing and maintaining quality financial
relationships and strive to consistently deliver the exemplary service we know our customers deserve. Please
understand that when a client passes away, accounts must be managed in accordance with estate laws, industry
rules, and firm policies and procedures.

We confirmed the decedents *** ending in 9752 was marked deceased on July 7, 2025, and that you are a
beneficiary of the ***.

On August 18, you spoke with ********************************** regarding the beneficiary claim and were
advised to complete an *** Beneficiary Claim form with in-kind transfer instructions. You were referred to the new
accounts group for assistance with opening a beneficiary ***. You were advised to call us in one to two business
days to confirm your form was received and for further instructions. On August 18 and 19 we advised you by email

We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and
how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/.

Investment and Insurance Products are: Investment products and services are offered
Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by
Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member ****, a
Affiliate registered broker-dealer and non-bank affiliate of
Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company.
Invested

ECMO-BT173_Res_M_E_052024

of the next steps and provided a link to the *** Beneficiary Claim form and the contact number for any questions.
We confirmed the beneficiary *** ending in 4712 was opened on August 19.

We received an *** Beneficiary Claim form dated August 20 from you. It was processed on August 25 and rejected
as it was not in good order. In-kind transfer instructions are needed and transfer by check, ACH or Fedwire is not
available because there are securities held in the account.

On August 29, a Client Services representative spoke with you and advised that the form you sent us was rejected
and that an in-kind transfer from the decedents *** to your beneficiary *** is needed. We discussed that the ***
Beneficiary Claim form you received is a general form containing distribution options which are not applicable in
this situation. We sent you a new eSign only *** Beneficiary Claim form to complete. We regret that we were not
clearer in our directions that we are unable to send a check directly to you by completing the *** Beneficiary Claim
form. Please know that your feedback has been forwarded for coaching opportunities to ensure our level of service
does not fall short again.

The eSign only *** Beneficiary Claim form dated August ***************************************** sections 2 to
indicate that you are a non-spouse, section 4 to indicate an in-kind transfer to the beneficiary *** were not
completed, and distribution by check is unavailable and in-kind transfer instructions are needed as securities are
held in the account. We sent you an email on September 3 with the same information.

An escalations representative spoke with you on September 3 and discussed the beneficiary claim process. You
requested that we send you a ***** *** Beneficiary Claim form by overnight courier and provide the steps for
completing the beneficiary claim process. While we regret that we did not send you the form to by overnight
courier, we have enclosed a copy with this letter.

We confirmed that the option to send you a check from the decedents *** is not available to you as there are
invested assets. The assets must be transferred to an inherited *** before they can be liquidated. We have
enclosed an *** Beneficiary Claim form, as you requested. When you complete the form, please select in-kind
transfer to your established beneficiary *** ending in 4712 and be sure to include the full account number for the
decedents *** on the paperwork. You can send the completed form to us in one of the following ways:
by fax to **************
by email to ***************************************************
by mail to
Wells Fargo Document Storage and Retrieval
MAC N9160-01M
*****************************************************************************************

While we have honored your request to send you a blank form, please note that that an electronic version to be
signed via *********** is available and may be a faster option. You can receive assistance with either version of this
form, by contacting ********************************** directly. They can send you the electronic version which
you can sign through the online portal. Our Estate Processing representatives can be reached at **************.
They are available Monday through Friday, from 7:00 a.m. to 5:00 p.m. Central Time. We recommend you follow up
on any forms or documents you send us to ensure they are received and in good order. You may advise the other
beneficiaries to contact our Estate Processing representatives for assistance.

Please note that this is a two-step process. When the assets have been received in your beneficiary ***, you can
then contact WellsTrade customer service for assistance with liquidating any positions, and with any desired

distributions. Our WellsTrade representatives can be reached at 1-800-TRADERS ***************). They are
available Monday through Friday, from 7:00 a.m. to 11:00 p.m. Central Time.

Regarding your Wells Fargo Everyday Checking, we have reviewed the Wells Fargo checking account ending in
3162, which was opened online on August 19, 2025. If you no longer require the account or have any questions or
concerns, please contact our 24-hour customer service team at **************. We apologize for any
inconvenience this may have caused and appreciate your attention to this matter.

Case status

We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
to address any remaining or new concerns.

How to contact us

We appreciate the time and effort you took to contact us. If you have questions, you may reach me at
****************************. Were ready to help you Monday through Friday from
8:00 a.m. to 4:30 p.m. Central Time. We accept telecommunications relay service calls.

Sincerely,

********* *.
Escalations Representative Registered
Enterprise ****************************
**********************************
Initial Complaint
Date:08/25/2025
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
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 brother and I are trying to obtain the funds in my deceased mother's *** held at Wells Fargo. We jumped through all their hoops, providing forms and estate papers from the court, and still don't have the funds after 3 months. They have provided forms that we were subsequently told were incorrect, have then submitted correct form, then told it wasn't filled out correctly, so corrected and resubmitted. Then my brother followed up with a call to see if all was ok and was told it was. Now I received a phone call at work saying that the forms were never received. Now I'm afraid that I may be scammed because of Wells' mishandling of the account.
Business Response
Date: 09/10/2025
Please see the attached bank response.
Initial Complaint
Date:08/23/2025
Type:Billing Issues
Status:
UnansweredMore info
Complaint statuses
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.
Mr ********************** Fargo Advisor, ******* ****** "transfered" my account with out my authorization.
Initial Complaint
Date:08/12/2025
Type:Service or Repair Issues
Status:
UnansweredMore info
Complaint statuses
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.
On April 29, 2025, I began the process with Wells Fargo Advisors to remove a deceased person from a joint investment account with right of survivorship and transfer ownership to the surviving widow, ***** *****. This matter remains unresolved after nearly four months, despite my completing every request made by the ********** of today, August 12, 2025, Wells Fargo Advisors has stated it will still take 35 business days for review and an additional 35 business days to complete transfer with no guarantee the matter will be finalized.Issue:Despite the account being joint with right of survivorship, and despite my repeated compliance with their requests, Wells Fargo Advisors has imposed multiple, shifting documentation requirements. I have made over a dozen phone calls, completed notarizations twice, submitted all requested documents, and been promised multiple supervisor callbacks that never occurred.Resolution Requested:That Wells Fargo Advisors immediately complete the transfer of funds from the deceased co-owner to the surviving widow, ***** *****, and close the joint account without further unnecessary delay.I am the daughter of the decedent and his widow. I have financial and medical Power of Attorney for my mother (widow), as she is incapacitated with dementia and resides in a memory care facility. Sincerely,***** K. ********
Initial Complaint
Date:08/04/2025
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
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.
Wells Fargo advisors has closed all my investment accounts. They have not supplied me with any information on why my account was closed. I have tried to contact them numerous times without resolve. I dont believe I did anything wrong that caused my account to be closed.
Business Response
Date: 08/13/2025
Please see the attached bank response. Any referenced enclosures have been sent to our customer.
Customer Answer
Date: 08/13/2025
Better Business Bureau:

I have reviewed the business' response regarding complaint ID ******** and am satisfied with this resolution. Even though they still didnt give me a reason for closing my ***************************** stated in their response that they arent required to provide that information. Thats a pretty shady business practices in my opinion I am satisfied though. This matter can be closed.

Sincerely,

***** *******
Initial Complaint
Date:07/02/2025
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
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.
I have an R/O - *** account with ******************** since 1993 and have initiated the close out of my account as of the beginning of June. After talking to multiple people on the phone explaining to me that my account was on hold due to its age I needed to have it activated (only valid for 48hrs) so that it could be traded so be able to be liquidated to me. After have it un-frozen twice only to find out that it actually was not. I had to personally visit the local office to resolve the issue, they could not help me and said it could only be done over the phone.I have had to go to the office more than 5 times each time costing me a cab fare. Finally on June 27th it was confirmed that everything was traded and I should receive a check within two weeks. Today July 2nd I receive a call saying they need to verify my identity, which I have done multiple times. Stating I need to re-start the process.This whole ordeal has been extremely taxing, frustrating, exhausting and simply sickening to the point where I am so stressed I can no longer eat. Not only due I financially need the money to live but it cannot be that it is so difficult to release my own money.
Business Response
Date: 07/23/2025
Please see the attached Bank response.
Customer Answer
Date: 07/23/2025
Better Business Bureau:

I have reviewed the business' response regarding complaint ID ******** and am satisfied with this resolution.

Sincerely,

******** ***********
Initial Complaint
Date:06/29/2025
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
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.
Wells Fargo Charged me $35 for an overdraft fee that shouldve never been charged. They are refusing to help me and refund this wrongful fee. Since I deposited over $150 to cover any overdrafts and have brought up my account up to date any time I get overdrafts and they said I have reached my courtesy limit but this is a bank issue not my issue. I also have overdraft protection but they still wrongfully charged me I was over drafted by $25 and clearly deposited enough by the following date I did it the same day! And still got charged after their so called grace ******
Business Response
Date: 07/14/2025
Please see attached bank response.
Initial Complaint
Date:06/26/2025
Type:Billing Issues
Status:
UnresolvedMore info
Complaint statuses
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.
Wells Fargo Advisors Vice President ****** ****** promised via email and telephonically to refund all the fees that they have charged since May 9, 2025 due them not providing the services since then. In return, I committed to closing out all accounts with *********************************************. However, Mr. ****** has yet to refund all the fees nor provide a breakdown of what he has refunded so far. I asked the Financial Advisor **** *********, who is assigned to the Wells Fargo accounts, the same questions and he has refused to provide any information regarding the refund of all the fees.
Business Response
Date: 07/21/2025
Enterprise ****************************
PO Box 5133
*********************
July 18, 2025

**** A ******
****************
*******************

Subject: Were responding to your concerns
Wells Fargo case numbers: ***************** and *****************
Account numbers ending in: 5731, 1236, and 7526
Client name: JAC Trust

Dear **** A ******:

Thank you for contacting us. On July 7, 2025, we received your complaint submitted to the Better Business Bureau
expressing your belief Wells Fargo Vice President (VP) ****** agreed by phone and email to refund all fees charged
on your accounts since May 9, 2025, due to lack of service since that date. You expressed you agreed to close your
accounts in return for said refunded fees, however you expressed your belief the fees have yet to be refunded, and
you have not received information about what fees have been refunded to date. You expressed your belief your
Financial Advisor assigned to your accounts refused to provide information regarding the status of the refunds.
Also, on July 9, 2025, you expressed your belief all the fees were not yet refunded because more time was needed
due to other priorities being addressed. You expressed the closing of your accounts is a time sensitive matter and
you were dissatisfied we declined to read to you the resolution letter we mailed regarding your prior complaint
cases, and you were told to wait for the letter to arrive by mail. You inquired if there was someone else available to
complete the refunds. Due to **** ongoing commitment to ensuring client concerns are given due attention,
your comments were forwarded to the Enterprise **************************** for review and response. We
completed our research and are providing details to address your concerns.

First and foremost, please understand *** strives to provide our clients with the most outstanding customer
service, and we regret your experience has fallen short of your expectations. Thank you for taking the time to
provide your feedback as it is invaluable in assessing our service levels and for identifying areas where we can
initiate improvements.

We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and
how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/.

Investment and Insurance Products are: Investment products and services are offered
Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by
Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member ****, a
Affiliate registered broker-dealer and non-bank affiliate of
Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company.
Invested

ECMO-BT173_Res_M_E_052024
Your account ending in 5731 was enrolled in our Fundsource advisory program and the agreed upon fee was 1.25%
annually and charged quarterly. Your account ending in 5731 was charged a quarterly Fundsource fee of $32.10 on
April 11, 2025. Your account ending in 1236 was enrolled in our Personalized Unified Managed Account (****)
advisory service. The agreed upon fee was 1.35% annually and charged quarterly. Your account ending in 1236 was
charged a quarterly **** advisory fee of $354.14 on April 11, 2025.

** ****** sent you an email on June 12, 2025, agreeing to refund the advisory fees you paid on since the date of
the Exit Letter you received, dated May 9, 2025. Also, on July 7, 2025, ** ****** agreed to refund $14.00 of
commissions paid on two trades placed after May 9, 2025, and agreed to reimburse each of the accounts for the
$125.00 transfer you would incur by transferring to another firm, but only after the fee was charged to the
accounts. Also, in this email was confirmation any fees or commissions from new requests or trades, incurred after
the July 7, 2025, would not be refunded.

On June 17, 2025, account ending in 1236 was charged a $125.00 termination fee due to your transfer of assets
to ******* ******. This fee was rebated to your account on July 8, 2025, and the residual value of your account
transferred out on July 10, 2025. On July 8, 2025, $14.00 was credited to your account ending in 5731. On June
13, 2025, advisory fees you paid were rebated to your accounts ending in 5731 and 1236, in the amounts of
$18.34 and $202.36 respectively. These amounts are a partial rebate of the advisory fees you paid on April 11,
2025, and were determined based on the date of termination of the **** and Fundsource advisory services as of
May 9, 2025.

Thank you for speaking with me on July 15, 2025, when we discussed which fees had already been rebated to you.
You may recall we also discussed how the $125 termination fee on account ending in 5731 has not yet been
charged, and you agreed to initiate the transfer of account ending in 5731 to ******* ****** when you received
this letter. Please note the $125.00 transfer fee will not be rebated until it is charged, which will occur after you
initiate the transfer request.

Case status

We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
to address any remaining or new concerns.

How to contact us

We appreciate the time and effort you took to contact us. If you have questions, you may reach me at
****************************, Monday through Friday from 8:00 a.m. to 5:30 p.m. Central Time. We accept
telecommunications relay service calls.

Sincerely,

**** *.
Lead Escalations Specialist Registered
Enterprise ****************************
**********************************
cc: Better Business Bureau
Customer Answer
Date: 07/28/2025
Complaint: 23525566

I have reviewed the business' response and am rejecting it because: I have not received the $125.00 termination fee nor the $7 transaction fee for purchasing the treasury bill on 7/23 that Wells Fargo promised they would provide.

Sincerely,

**** ******
Business Response
Date: 08/07/2025
Please see the attachment.
Customer Answer
Date: 08/07/2025
Hi. I still have not received the last 2 fees to be refunded for $125 and $7. I have attached the last email from Wells Fargo Mr. ****** ****** demonstrating that they are stalling and delaying the resolution to the complaint. Please let me know if anything else is needed.
Customer Answer
Date: 08/08/2025
Hi. Thank you for the update. The business responded and agreed to refund the fees but need more time to do so (see attached correspondence). Can you please re-open the case to grant them the time?
Customer Answer
Date: 08/15/2025
The transfer has taken place but I still have not received the $125 fee refund.
Business Response
Date: 08/20/2025
***************************************
PO Box 5133
**************************;

August 20, 2025

**** A ******
**********************
8976 SVL Box
***********************************************

Subject: Were responding to your concerns
Wells Fargo case numbers: ***************** and *****************
Account number ending in: 5731
**********************, case number: 23525566

Dear **** A ******:

Thank you for contacting us. On August 8, 2025, we received your comments submitted to the Better Business
Bureau (BBB) expressing your dissatisfaction with your belief you had not yet received two refunds, one for
$125.00 and another for $7.00, and you expressed your belief the process was being stalled or delayed. Also, in an
email sent on August 5, 2025, you expressed dissatisfaction that you had contacted us multiple times to get the
fees refunded and requested the $7.00 fee and the $125.00 Fee be refunded by August 8, 2025. Due to ****
ongoing commitment to ensuring client concerns are given due attention, your comments were forwarded to the
*************************************** for review and response. We completed our research and are providing
details to address your concerns.

First and foremost, please understand *** strives to provide our clients with the most outstanding customer
service, and we regret your experience has fallen short of your expectations. Thank you for taking the time to
provide your feedback as it is invaluable in assessing our service levels and for identifying areas where we can
initiate improvements.

On August 7, 2025, a $7.00 credit was added to your account ending in 5731. On August 11, 2025, we received a
transfer request from ******* ****** for your account ending in 5731, and a $125.00 termination fee was
charged to the account on August 12, 2025. This fee was refunded to the account on August 13, 2025. We trust
the information provided in this correspondence provides a better understanding of **** position and we
consider this matter resolved.

ECMO-BT173_Res_M_E_052024

Case status

We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
to address any remaining or new concerns.

How to contact us

We appreciate the time and effort you took to contact us. If you have questions, you may reach me at
****************************, Monday through Friday from 8:00 a.m. to 5:30 p.m. Central Time. We accept
telecommunications relay service calls.

Sincerely,

**** *.
Lead Escalations Specialist Registered
***************************************
**********************************
cc: Better Business Bureau

Customer Answer
Date: 08/21/2025
Complaint: 23525566

I have reviewed the business' response and am rejecting it because: Wells Fargo Bank has not refunded all the fees as they promised and representative ****** ****** is still trying to figure out what fees to refund (see attachment). For certain, the $125 fee is still do and the transfer of the 2 ***************** Accounts still needs to be completed.
Sincerely,

**** ******
Customer Answer
Date: 08/21/2025
Attached is the latest emails confirming that Wells Fargo Bank Representative ****** ****** has not held their promise and are still attempting to resolve the issue.
Customer Answer
Date: 08/29/2025
The business has not completed what they promised of refunding the $125 fee for the last transaction nor transfer all the funds to the ******* ****** account. Today is August ******* and there is still $5,107.78 of my money in the Wells Fargo account that they are refusing to transfer. I have emailed and called multiple times for ****** and **** to release the funds but they refuse to (see attachment).
Customer Answer
Date: 09/10/2025
Hi. The business has still not resolved the issue. What is the status on this complaint? And/or is anything else needed for it?
Initial Complaint
Date:05/27/2025
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
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 mother held a brokerage account at ********************************************* for many years and designated it Transfer on Death, providing three beneficiaries to receive the funds upon her death: my two sisters and I. She passed away on August 31, 2024. Subsequently, I and my two sisters, the account beneficiaries, provided Wells Fargo with all their requested and mandated paperwork. Each of the beneficiaries' submissions were reviewed and approved by Wells Fargo ***************************** and Wells Fargo then, accordingly, distributed assets/funds from the account to each of us in what we thought was the final resolution of the account.Unbeknown to us, however, this was not a final resolution of the account. Without explanation or notice, Wells Fargo retained assets/funds in the account despite full compliance by the beneficiaries and plainly contrary to the deceased account holder's wishes. The amount was approximately $400, which varies depending on market conditions. When I spoke with a representative on April 15, 2025, she indicated that Wells Fargo intended to continue to hold onto the assets for several months. I then made a written demand for the funds to be released and was told that somebody would be in touch with me but Wells Fargo refused to specify when. I then received a form letter in the mail saying that they were investigating the matter and would take ***************************** with any substantive information. They are clearly ignoring and stonewalling me, while retaining the funds and charging fees. Wells Fargo has no legal basis to withhold the funds, and are acting in clear contradiction to their account holder's valid instructions. Their conduct is *****, distressful and frankly illegal. It is hard to conceive why they would want a family to spend time and energy in the wake of a loved one's death forcing them to heed their deceased's account holder's directive over this amount of money. We would appreciate your assistance in a prompt resolution.
Business Response
Date: 06/16/2025
***************************************
PO Box 5133
*********************

June 16, 2025

Subject: Were responding to your concerns
Wells Fargo case number: *****************, *****************, *****************,
06202505066558673, & *****************
Account number ending in: 5950
************************************, case number 250516-20849317
Department of Financial Services **************, case number: BKC-2025-********
Better Business Bureau, case number ********
Client name: **** ****** ***

Dear *** ******:

Thank you for contacting us. We completed our research and are providing details to address your concerns. First
and foremost, please allow us to extend our deepest sympathy about your loss.

Level of service received

Wells Fargo Advisors strives to create a financial service environment that is efficient, transparent, and worthy of
our clients trust. Please allow us to apologize for any frustration or inconvenience these matters have caused,
including potential inaccurate and conflicting information that you have received throughout your experience.

Please understand that when complaints are received, we mail an acknowledgement letter to explain we will
research the matter and respond within 60 calendar days.

Transfer of residual assets

We understand you expressed dissatisfaction with assets being retained in the account, you were told the funds
would be held until the end of June and stated Wells Fargo was illegally holding the funds.

We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and
how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/.

Investment and Insurance Products are: Investment products and services are offered
Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by
Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member ****, a
Affiliate registered broker-dealer and non-bank affiliate of
Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company.
Invested

ECMO-BT173_Res_M_E_052024
A Transfer on Death (***) account enables the account owner(s) to instruct the Firm to transfer ownership of the
account assets, upon death, directly to each designated beneficiary in the *** Agreement without subjecting the
account assets to the probate process. The *** Agreement allows the client to designate a specific percentage of
the total account value for each named beneficiary.

We confirmed on October 25, 2024, the portion of account ending in 5950 that you were entitled to was
transferred into Wells Fargo Advisors account ending in 0734. We verified an interest payment and dividends were
received in the account between November 2024 and May 2025 which resulted in a residual balance.

We confirmed the Request for Distribution of Eligible Assets From a Transfer on Death (***) Account form was
completed by each beneficiary however, this form doesnt direct where to send residuals that accumulate in the
account.

We verified you were not entitled to claim any of the residuals, and the residuals that accumulated were sent to
the respective beneficiaries. We confirmed the account ending in 5950 has a zero balance.

Should you have any additional questions about **** Pruntys account or need further assistance on the estate
process, please contact our Estate Processing representatives at **************. They are available Monday
through Friday, 7:00 a.m. to 5:00 p.m. Central Time.

Case status

We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
to address any remaining or new concerns.

How to contact us

We appreciate the time and effort you took to contact us. If you have questions, you may reach me at
****************************, Monday through Friday from 8:00 a.m. to 3:00 p.m. Central Time. We accept
telecommunications relay service calls.

Sincerely,

*** *.
Escalations Representative Registered
***************************************
**********************************
Customer Answer
Date: 06/17/2025
Complaint: 23380454

I have reviewed the business' response and am rejecting it because: Wells Fargo claims that : "We verified you were not entitled to claim any of the residuals, and the residuals that accumulated were sent to the respective beneficiaries. We confirmed the account ending in 5950 has a zero balance."
Upon receipt of this statement by Wells Fargo, I contacted the other two beneficiaries to confirm that one or both of them had received the assets that were retained in the account. Both of them said that they had received nothing from Wells Fargo. In addition, less than one week ago, I received in the mail the monthly statement of the account ending in 5950. That latest statement indicated that the assets were still in the account, the balance was approximately $430 in assets. The account balance was not zero. I simply cannot credit what Wells Fargo is now claiming, and in fact have their monthly bank statement that directly disputes it.
If Wells Fargo would like to provide evidence that they transferred the assets to one of more of the beneficiaries such as a bank record showing that transfer, the date, the amount and to whom they claim they transferred the final balance, that would be helpful. But simply their word, especially at this point, is clearly not enough. I have no evidence that what they are claiming is true and indeed have evidence, in the form of the other two beneficiaries's denials that they received any such funds, as well as the most recent Wells Fargo account statement, all of which indicates that what Wells Fargo is saying is false.
I can provide the most recent account statement to prove what I am saying.

Sincerely,

*** ******
Initial Complaint
Date:04/30/2025
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
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.
I talked to 4 different people today 4-30-2025 about my mothers Wells Fargo Advisors Account. She sent in a beneficiary form last year after being told there were no beneficiaries on the account. She never got anything back from them and assumed it had been taken care of. Well she died on 4-19-2025 and I called to get things started and was told she had no beneficiaries. I said how is that possible, **** told me "you can't have beneficiaries on that account". No reason why. Drove to ***********, Mn to talk to someone in person. **** said there wasn't anything he could do to help us. I called back got someone named ******* who I asked to transfer me to a supervisor. She got me back to the original **** who did not even make sense. I again asked for a supervisor. After two 5 minute waits I talked to ******* who told me the beneficiaries would of had to be set up when she opened the account (after my father passed.) So my complaint is I have a signed beneficiary form stating what she wanted to happen and they refused to do it. So it is like they are just trying to hold on to her assets as long as possible costing us more money because now I will have to contact her lawyer and either probate or **** What kind of company refuses to let you set up beneficiaries???
Business Response
Date: 05/19/2025
***************************************
PO Box 5133
*********************

May 16, 2025

The Representative of ******** K. ******
****************
Apartment 309
*******************-4267

Subject: Were responding to your concerns
Wells Fargo case number: *****************
Account number ending in: 4900
**********************, case number: ********
Client name: ******** K. ******

Dear Representative of ******** K. ******:

We recently received a complaint through the Better Business Bureau from ****** ********. Because we don't
have permission to share your information with them, we're responding directly to you about the concerns
expressed. You should know that ****** ******** expressed dissatisfaction with the estate process for the late
******** *. Sonneks individual brokerage account ending in 4900 upon being informed that the estate claim will
need to be completed through the Estate of ******** K. ******. They had expressed further dissatisfaction with
the level of service experienced while calling to inquire about the estate process, having spoken with four different
representatives and not being able to add beneficiaries to the account. They had stated that the late client had
submitted documents to add beneficiaries to the account. They alleged that Wells Fargo Advisors received the
signed beneficiary form but refused to complete their request to hold onto the assets for as long as possible.

First, we at Wells Fargo Advisors would like to express our condolences for your loss. Please accept our apology for
the frustration or inconvenience you and ****** ******** have experienced while working to complete the estate
process.

Please understand that when a client passes away, accounts must be managed in accordance with estate laws,
industry rules, and Firm policies and procedures. Due to these requirements, the estate process can sometimes be
complex and cumbersome. We understand that this is an inconvenient process especially when you are dealing
with the loss of a loved one and are working diligently to make this a smoother transition for our clients.

We take all allegations seriously. We reviewed the concerns in detail and are ready to share our findings with you.

We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and
how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/.

Investment and Insurance Products are: Investment products and services are offered
Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by
Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member ****, a
Affiliate registered broker-dealer and non-bank affiliate of
Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company.
Invested

ECMO-BT173_Res_M_E_052024

Our research found the brokerage account ending in 4900 is a standard retail individual account and that the ***
Add/Change of Beneficiary document that had been submitted last year by the client had been rejected due to it
not being applicable to the account type. We confirmed that the brokerage account ending in 4900 does not have
Transfer on Death (***) instructions, please understand that the *** instructions form would have needed to be
added to the account prior ******** Sonneks passing. Since the account does not have *** instructions the
estate process will be handled by default and assets will need to be claimed by the Estate of ******** K. ******.

Please be advised that to complete the estate process and claim the assets an individual will need to be appointed
as the executor for the client. They will need to submit a copy of the court appointment documents such as Letters
of Testamentary, or if the account is eligible, a ************ Affidavit. They will also need to submit a copy of
******** Sonneks death certificate.

After the executor has been appointed, they will need to establish a brokerage account for the Estate of ********
****** and transfer the assets in kind. It is our recommendation that if you or the executor should have questions
regarding the estate process that they contact our *********************** directly at **************,
Monday through Friday from 8:00 a.m. to 5:00 p.m. Central Time.

To Submit Documents:

Fax: **************

Email: ***************************************************

Mail: Wells Fargo
Document Storage & Retrieval
N9160-01M
***************************************************************************************

Case status

We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
to address any remaining or new concerns.

How to contact us

We appreciate the time and effort ****** ******** took to contact us. If you have questions or would like to
discuss this further with myself, please contact me at ****************************. I am available
Monday through Friday from 7:00 a.m. to 3:30 p.m. Central Time. We accept telecommunications relay service
calls.

Sincerely,
****** *.
Escalations Representative Registered
***************************************
**********************************

cc: Better Business Bureau

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