Complaints

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

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• 

  Wells Fargo Advisors

  1 N Jefferson Ave Saint Louis, MO 63103-2254

• 

  Wells Fargo Advisors

  1000 Broadway Ste 625 Oakland, CA 94607-4042

• 

  Wells Fargo Advisors

  10 Mechanic Street Worcester, MA 01608

• 

  Wells Fargo Advisors

  28100 US 19 N Ste 500 Clearwater, FL 33761-2687

• 

  Wells Fargo Advisors

  701 S. Carroll Blvd. Denton, TX 76201

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:11/23/2022

  Type:Order 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.

  For some unknown reason Wells Fargo failed to direct deposit my $1000 monthly check into my checking account on October 25, 2022. I was traveling and unable to check my balance online. I scheduled 3 payments to be paid from my account several days after my usual deposit from Wells Fargo should have been made. When I returned home I found that the failure to deposit the check had caused my account to overdraw and I had been charged 3 overdraft fees of $35 each, a total of $105. I contacted my Wells Fargo advisor and got the check deposited on Nov, 15th. I then requested that Wells Fargo reimburse me the $105 which was due to their failure to pay the contracted $1000 into my account. They refused and even suggested that I ask my bank to refund the fees caused by Wells Fargo’s breach of contract. They failed to meet their obligation to me and have not offered any explanation as to why they failed. I’m out $105 because of their failure. That’s a bit harsh for a 75 year old widow of modest means to accept.

  Business Response

  Date: 12/07/2022

  Please see the attached Bank response. 

  Thank you for your patience while we looked into your concerns. We’ve completed our research and are ready to
  share our findings.
  
  Please be advised that we received your concerns regarding the difficulty you experienced while trying to obtain
  your $1,000.00 check and non-sufficient fees incurred due to the check not being deposited into your checking
  account when you had originally planned on receiving it.
  
  Please note that from our research we can confirm per your conversation with ***** *. with your Advisors office
  on November 22, 2022, that we are unable to refund the fees incurred totaling in $105.00 since the fees were
  charged by your contra firm. Furthermore, the Advisors office is unable to deposit the funds directly into your
  account since you currently do not have earned income which would disqualify any IRA contributions.
  
  Please also know that the reason there was a delay in processing your $1,000.00 check, causing these fees to
  generate was due to you not having any free cash available. On October 25, 2022, when your check was to be
  processed, it was denied because all of the funds were invested in the market. However, we can confirm that on
  November 14, 2022, your Advisors office was able to liquidate the required funds and process the $1,000.00 into
  your checking account ending in ****.
  
  We sincerely regret the frustration, inconvenience, and overall poor service you feel you have experienced while
  trying to resolve this issue. We also highly value your feedback, as we use your feedback as our primary tool in
  improving our products and services. If you have additional questions, please do not hesitate to reach out to your
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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 *********************************************************************** See additional Wells Fargo privacy notices at
  *********************************************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  ********* ******** ****** ******** *** **** **** ** ***** ** ****** **** ******** *** *** ***** ***** ********
  ******** ** ************* ** *************
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  us at *************** ********* *******. We’re ready to help you Monday through Friday from
  8:00 a.m. to 5:00 p.m. Central Time. We accept telecommunications relay service calls.
  

  
  

• Initial Complaint

  Date:11/10/2022

  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 have an IRA account that was set up many years ago. Last night I called for help creating on line access so I can view statements and move money to another account. I want to move the money because I discovered they charge an annual IRA fee of $125.00. I was unable to create on line access to my account, so I called and spoke with a representative. I was told that "there are problems with my account" and I would have to fill out a new account application they sent via email to fix problems. They also were evasive about how much money is in the account and mentioned a "negative balance". I want to see my statements. I already have an account and am not filling out a new application to "fix problems". What kind of racket are they running here? I want to be able to see statements. I want to be able to sign up for on line access without filling out an a new application.

  Business Response

  Date: 11/22/2022

  Please see the attached bank response. 

• Initial Complaint

  Date:11/09/2022

  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.

  I had an investment account that was inactive for several years yet I was still being charged an annual $100 fee. I called to close the account and was told that I could avoid a termination fee by simply withdrawing the entire amount and then the account would close automatically. I filed for that, and after it was rejected was told to terminate the account. This resulted in a $123.22 termination fee which I was told I would not be charged. I feel this is an unethical policy especially as no service was being provided and none of my hard earned money was being invested. I am requesting a full refund of the termination fee.

  Business Response

  Date: 11/18/2022

  Please see the attached Bank response. 

  Dear ***** ** *********
  We're responding to concerns you expressed to the Better Business Bureau pertaining to the $125.00 termination fee assessed to your ROTH Individual Retirement Account (IRA) on November 7, 2022, and the assessment of the annual fee in an inactive account. We have completed our research and would like to share our findings.
  We apologize for any difficulty you had while attempting to gain clarification on this matter. While it is never pleasant to learn we have failed to meet a customer's expectation, we appreciate you sharing your situation to our attention. Feedback such as yours is important because it allows us the opportunity to pinpoint individual coaching needs and identify opportunities to improve our process.
  It is Wells Fargo Advisors' policy to provide our clients with a clear explanation of any charges and fees associated with the services we provide. The IRA termination fee is disclosed when the account is initially established in the Client Agreement as well as annually afterwards. In an effort to accommodate your concern, and as a gesture of goodwill the $125.00 termination fee was credited to your account on November 15,
  Investment and Insurance Products are: • Not Insured by the FDIC or Any Federal
  Government Agency
  • Not a Deposit or Other Obligation of, or
  Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible
  Loss of the Principal Amount Invested
  Investment products and services are offered through Wells Fargo Advisors, a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
  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 ********************************************************************** See additional Wells Fargo privacy notices at *********************************************
  * **** ***** ***** ********* **** *** ****** *********
  ***** ***** *** * * ******
  2022. We recommend that you speak with the Wells Fargo Advisors Solutions group to distribute these funds. Please be advised we can only close an account with a zero balance.
  We researched the issue regarding the funds in the account not being invested. Our records indicate that you made the request to liquidate the entire account on January 9, 2017, and to keep the proceeds as cash until further notice. Our records do not indicate that we received instructions to invest these funds. Please understand as long as the account is open and does not meet the fee waiver criteria detailed in the annual fee schedule, the annual fee will be assessed.
  How to contact us
  The Wells Fargo Advisors Solutions group can be reached directly at ************** for assistance from Monday through Friday, 7:00 a.m. to 7:00 p.m. Central Time and can help with a distribution request.
  We appreciate your time and effort you took to contact us. If you have questions, please contact me at ************** *** *******. We're ready to help you Monday through Friday from 7:00 a.m. to 3:30 p.m. Central Time. We accept telecommunications relay service calls.
  Sincerely,
  ******** **
  ********* ****** **** **********
  ********** ********** ********** ****** 

• Initial Complaint

  Date:11/04/2022

  Type:Customer Service 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 have been trying for several months to get shares from an IRA that I inherited transferred from Wells Fargo to an ****** ***** account. Three attempts have been made to send in the correct forms for this transfer to occur. I was not notified of any problems with my first attempt at getting these forms filled out for over a month. When I became aware of errors on the first set of forms I called the 1-800 number and a Wells Fargo employee told me what I needed to correct so I filled the forms out again with the corrections and resent the forms. I received an email last week that said there were forms still needed to get this transfer done- the same forms I had already sent in twice. I went to the Wells Fargo Advisors office in Seneca and one of the employees there filled the form out for me and resent them again. I don’t know what else I can do to get this transfer done. I have worked with ****** ***** for almost 30 years and want to keep my money there. I never imagined getting a simple transfer from one financial institution to another would be so complicated. The form I keep referring to is an IRA beneficiary claim form. The Wells Fargo form no. is ****** **** ** * *****). The ****** ***** office I use is in Toccoa, Ga and ***** ******** handles my accounts. His phone number is ************. Thanks for any help you can give me towards resolving this issue.

  Business Response

  Date: 11/18/2022

  Please see attached business response. 

  ********** ********** ********** ******
  ** *** ****
  ***** ****** ** *****
  Investment and Insurance Products are:
  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  Investment products and services are offered
  through Wells Fargo Advisors, a trade name used
  by Wells Fargo Clearing Services, LLC, Member
  SIPC, a registered broker-dealer and non-bank
  affiliate of Wells Fargo & Company.
  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 *********************************************************************/. See additional Wells Fargo privacy notices at
  *********************************************
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  November 18, 2022
  **** *****
  *** ******** **** ***
  ************ ** *****
  Subject: We’re responding to your concerns
  Case number: *****************
  Account number ending in: ****
  Better Business Bureau: Agency Case #********
  Client name: ******** *********
  Dear **** *****:
  We’re sorry to hear about the passing of ******** *********. We realize this can be a difficult time. Thank you for
  contacting us with your concerns. We’ve looked into it for you and are ready to share our findings.
  We are responding to concerns which you expressed to the Better Business Bureau in regards to the difficulty that
  you have experienced with transferring assets from the account ending in **** to ****** ***** including
  multiple submissions of the beneficiary claim form.
  Our goal is to provide helpful, friendly service, and we apologize that your experiences did not reflect our
  standards. It was difficult to learn that we have not met your expectations.
  We have reviewed with our back office that the beneficiary claim form is now in good order; however the Letter of
  Acceptance (LOA) needs to be corrected. In Section A, please reference the decedent’s information and not your
  own. In Section B, please select the second bullet point option. Once the changes to the LOA are made, please re-
  submit the document via fax to **************. Please be advised that standard processing times are seven to
  ten business days.
  Should you have any questions regarding this process or your account, please contact our WFA Solutions
  representatives at **************. They are available Monday through Friday, 8:00 a.m. to 8:00 p.m. Eastern

• Initial Complaint

  Date:11/03/2022

  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.

  ******* ********** *********** ******** has a brokerage account with Wells Fargo Advisors (WFA) as well as linked checking/savings accounts at Wells Fargo bank, both for well over 20 years.
  In Sept of 2022 WFA informed in writing to *** that it was closing ***** brokerage account held at WFA and that the decision was final and could not be appealed. *** asked WFA to close the brokerage account and transfer the funds (about $108,000.00) into the linked Wells Fargo bank savings account. WFA closed the brokerage account but for well over a month now has refused to transfer the proceeds from the closed account into the linked savings account, holding onto the funds under the pretext of wanting additional company documents. All necessary documents were provided to Wells Fargo when these accounts were opened and WFA has no reason to not transfer the funds to the linked savings account.
  Attaching the last A/c statement before WFA closed the account.

  Business Response

  Date: 11/15/2022

  Please see attached business response. 

  ********** ********** ********** ******
  ** *** ****
  ***** ****** ** *****
  Investment and Insurance Products are:
  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  Investment products and services are offered
  through Wells Fargo Advisors, a trade name used
  by Wells Fargo Clearing Services, LLC, Member
  SIPC, a registered broker-dealer and non-bank
  affiliate of Wells Fargo & Company.
  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 **********************************************************************. See additional Wells Fargo privacy notices at
  *********************************************
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  ******** *** ****
  ******* ** ********
  *** **** ****
  **** ********** ** **********
  Subject: We’re responding to your concerns
  Case number: ***************** *** *****************
  Agency case number: ********
  Account number ending in: 2009
  Dear ******* *. ********:
  Thank you for your patience while we looked into your continued concerns. We have completed our research and
  are ready to share our findings regarding the above-referenced account being closed and the branch requiring
  documentation to release the funds in the account.
  We apologize for any frustration and inconvenience you have experienced. As previously mentioned in our
  correspondence dated November 3, 2022, we reviewed the above-referenced account and confirmed the branch is
  requesting a copy of the updated Articles of Incorporation and Share Registry for security purposes to protect the
  account and firm. Once these documents are received, we can proceed with the transfer of funds to your savings
  account and close the account. Should you have any questions regarding your account or this process, please
  contact the Relationship Transition Group (RTG) at ************ or via email at **************************.
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  me at *************** **** *******. We’re ready to help you Monday through Friday from
  7:00 a.m. to 3:30 p.m. Central Time. However, please note I am unable to provide advice or process request. We
  accept telecommunications relay service calls.
  Sincerely,
  **** **
  ********* ****** **** **********
  ********** ********** ********** ******
  *** ***

  Customer Answer

  Date: 11/15/2022

  Complaint: ********
  
  
  
  I am rejecting this response because:

  
  
  The document request is redundant because both the brokerage account and the savings account are held at Wells Fargo.

  These documents were provided and verified when opening the accounts in the first place. Without these documents the accounts wouldn't have been opened at all. I see it as just another ploy to hold to customer funds as long as possible.

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

• Initial Complaint

  Date:11/03/2022

  Type:Customer Service 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.

  On 04/10/22 my son, ***** *** ******** ******, passed away intestate. At the time of his passing, he had an IRA Account ********* with a balance of$3567.28 and a Roth IRA Acount ********* with a balance of $478.39. On 06/27/22 I spoke with a representative of Wells Fargo Bank and submitted the IRA Beneficiary Claim. I was advised I would receive a check within 7-10 business days. After not receiving any funds, I contacted Wells Fargo and was transferred to the Wells Fargo Advisors Clearing House. I was advised they had not receive any forms or documents from Wells Fargo Bank. I resubmitted the forms August 11, 2022. Since that time, I have repeatedly been advised that something was completed incorrectly or documents weren't received. I would call and be told just resubmit certain sections and then later to be told I have to resubmit the entire claim. I followed explicitly what the contact person told me to do, then on a subsequent call be told "no, that was is not correct". I was told that I didn't have to have taxes withheld and then later told that I did have to withhold taxes. I have resubmitted claim forms no less than 6 times, provided 4 death certificates at different times and 4 of my court appointments. On October 13, I received another email from ************************************* again stating they need a revised form with electing and TIN# and other details which I resubmitted on October 13. I submitted what was requested. It said nothing about an entire form. On October 25, I received an email from ************************************ sending for ************************************* that correction I made was wrong, etc. and to resubmit the entire document again as the processing team cannot piece together what is correct. So on October 25, 2022, I have again resubmitted an entire package with death certificates and court app

  Business Response

  Date: 11/28/2022

  Please see attached business response. 

  Enterprise Complaints Management Office
  ** *** ****
  ***** ****** ** *****
  Investment and Insurance Products are:
  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  Investment products and services are offered
  through Wells Fargo Advisors, a trade name used
  by Wells Fargo Clearing Services, LLC, Member
  SIPC, a registered broker-dealer and non-bank
  affiliate of Wells Fargo & Company.
  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 *********************************************************************** See additional Wells Fargo privacy notices at
  *********************************************
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  November 15, 2022
  ****** ******
  *** ******** ****
  *********** ** *****
  Subject: Response to concerns about Wells Fargo Advisors (WFA) accounts ending in **** * ****
  Case numbers: ****************** ****************** ****************** *****************
  Better Business Bureau (BBB), case number: ********
  ********** *** ******** ********** ****** **** ******* ********
  ********* ******** ********** ********* ******** **** ******* ***********
  Dear ****** ******:
  We are responding to concerns you originally expressed via email on October 5, 2022, the ********** *** ********
  ********** on November 1, 2022, the Better Business Bureau on November 2, 2022, the Board of Directors on
  November 3, 2022, and FINRA on November 4, 2022. We would like to respond to your concerns at this time.
  First and foremost, we express our sincere condolences for the passing of your son, ***** ******. We also
  genuinely apologize for the frustration you experienced during the Estate process thus far as we understand this is
  a difficult time. WFA strives to provide the most outstanding customer service in the financial industry and we
  regret if in this instance you received less than these expectations. For the distributions to occur, all the required
  Estate’s paperwork needs to be received and be in good order. This requirement is our continual effort to mitigate
  risk to you, the Firm or both. Unfortunately, delays in processing may occur if the Estate documentation contains
  errors or omissions of pertinent information. Unfortunately, delays have occurred in the Estate processing for
  both accounts but we are here to help you resolve these issues.
  In review of the above-referenced accounts, the account ending in **** is the Traditional Individual Retirement
  Account (IRA). The account ending in **** is the Roth IRA. On November 10, 2022, we received the updated
  forms for both accounts. Please allow three to five business days for this process. The Estate team will continue to
  update you at: ********************. In review of the past errors, keep in mind to submit the signed IRA
  Beneficiary Claim form for each account and to reflect the Tax Identification Number (TIN#) for the Estate of
  ***** ** ******. Additionally, please complete all of the Sections of the form and sign and date the forms. Recently,
  Section 1 was incomplete because you did not answer: “At the time of passing, Deceased IRA holder resided: In the
  United States or Outside of the United States”. Similarly, all the questions to Section 2 need to be answered. For
  example, “Relationship to Original Account Holder”. The IRA claim forms will need to reflect the taxes indicated
  and this was provided in the documents recently received. However, again, other Sections (1 & 2) were incomplete******, You may continue to email the Estate Department at: ************************************* with questions and provide the updated paperwork. Thank you for again for your patience during the processing of the Estate documentation.

   How to contact us

  Should you have any questions regarding your account or this process, please contact our WellsTrade®
  representatives at ************* ***************** The hours of operations are Monday through Friday, 7:00
  a.m. to 11:00 p.m. Central Time. If you have additional questions which have not been addressed at this time, I can
  be reached at *************** **** *******, Monday through Friday, 8:00 a.m. to 3:00 p.m. Central Time;
  however please note that I am unable to process requests or provide advice.
  Sincerely,
  **** **
  Executive Office Case Specialist
  ********** ********** ********** ******
  cc: Better Business Bureau
  *** ********** *** ******** **********
  *** ********* ******** ********** ********* ******

• Initial Complaint

  Date:10/29/2022

  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'm a new customer with Wells Fargo, and I opened checking,savings so far. I'm in the process of transferring my IRA to Wells Fargo. I've attempted to establish NUMEROUS IRA accounts due to EVERY SINGLE ONE being closed. Closed with funds still remaining and no explanation. This is both unacceptable and unprofessional and it will not be tolerated. If I'm going to do banking with an institution, I'd also better be able to establish some sort of retirement account. There's no business taking place. It's MY money,and Wells Fargo is maintaining my retirement funds. This complaint is going on record as a cease and desist to stop closing my accounts without notice or explanation. Continuing to do so is going to result in legal ramifications. I didn't agree to any actions pertaining to this. Wells Fargo Advisors are using the account closing clause to keep my funds. THIS IS A WARNING TO STOP. Further adverse action taken against MY RETIREMENT money is going to result in legal charges.

  Business Response

  Date: 11/10/2022

  Please see the attached bank response.

   

• Initial Complaint

  Date:10/16/2022

  Type:Order 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.

  NO STARS!!!!
  After our mothers passing in Dec 2021 we began to start the process of liquidating her very small IRA. After 6 months I finally received my portion of the IRA. My sister on the other hand is still trying. She resides in Germany and has been attempting to get WF Advisors to release her inheritance. 20 months, countless emails, notarized documents and international phone calls that WF does not pay for, and they still have not released the funds. In September 2022 her advisor informed her that all the documents were complete and the funds would be transferred and available on October 4. Currently visiting in the US she has been to WF in person in 2 states multiple times and is being given the "funds are in process of being transferred". Attempting to contact her advisor has be futile as he does not respond to voicemails nor emails sent by WF bank personnel or my sister. This issue has cost my sister hundreds in international phone bills, time and frustration all while the account is losing value consistently.
  It is difficult to believe that this process should be so difficulty
  It is an absolute shame that a company this size would treat their customers this way. Dealing with the loss and grief of a loved one is difficult enough, but it appears that WF just tries to hold on to the funds for their own use/benefit.

  Business Response

  Date: 10/27/2022

  Please see the attached business response. 

• Initial Complaint

  Date:09/14/2022

  Type:Customer Service 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 father died with a Wells Fargo Advisors account. I have submitted and resubmitted and resubmitted paperwork to get the assets transferred to ******** per my Father's instructions. All I get are canned responses and no action over two months. There is no recourse other than auto emails. First Clearing seems to be the holdup.

  Business Response

  Date: 09/23/2022

  Please see the attached Bank response.    

• Initial Complaint

  Date:09/06/2022

  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, a Florida resident, held an investment account with Wells Fargo Advisors. She died 7/9/2022. Wells Fargo refuses to disburse the funds to the two rightful heirs as specified in the will and beneficiary appointment indicating a fifty/fifty split between her two daughters, ***** and *****. I am ***** and the executor of the estate. ***** *****, Account #*********.
  I notified the Financial Advisor, **** *********, of ***** *****’s passing about a week after her death. The account was turned over to ***** ******, a “Senior Registered Client Associate.” I supplied all of the documentation needed to close and disburse the account. Now, Wells Fargo is insisting that we go through probate. In Florida this is neither mandatory nor necessary. They claim that the problem, this time, is that there was no TOD on file. There is, however, a TOD application on file which was denied when she lived in Louisiana because Louisiana does not permit it. The long-time “Advisor,” *** *********, did not re-file the TOD application when ***** moved to Florida four years ago, although he was clearly aware that it was what she wanted. ***** washed her hands of the matter completely and sent my case to the “Complaint” department, which will go nowhere. Details are in the attached email chain.
  I suspect that the end goal for Wells Fargo is to retain, and profit from, the money as long as possible. All My mother’s other accounts were relinquished without the need for costly probate .
  If you could please help me be done with this company by getting the account closed and checks of equal amounts issued to the two beneficiaries, I assure you that I will have no future dealing with this company and, therefore, no reason to seek assistance in matters of this sort. Thank you.

  Business Response

  Date: 09/27/2022

  Please see the attached bank response.

  A Transfer on Death (TOD) agreement dated October 5, 2015, was rejected on October 12, 2015, as the decedent
  resided in Louisiana, the form stated it was not valid for Louisiana residents, and Louisiana did not have a TOD
  statute at that time. Please be advised, we do not refile rejected documents without receiving direction to do so
  from our clients and forms are only valid for 90 days from signature date. As the decedent did not submit an
  updated TOD agreement prior to death, the account will need to be processed through probate. Our legal
  department has determined that we cannot rely on a will to take instruction from an administrator/heir. As the
  securities are registered in the decedent’s name, their estate is entitled to the assets. Letters of
  Testamentary/Administration, or similar court documentation is needed for a court-appointed representative to direct the assets. We reviewed finding that on September 1, 2022, Client Associate ***** ****** correctly
  communicated this information to you via email and our decision remains the same. 

  Customer Answer

  Date: 09/28/2022

  Complaint: ********
  
  
  
  I am rejecting this response because:  Wells Fargo is still keeping, and losing, the money,  The advisor had stated that there were beneficiaries on the account and now I am told there were none.  If that is true, it was neglected contrary to my mother's wishes.
  
  
  
  
  
  Sincerely,
  
  
  
  ***** ****