Complaints

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

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  Ascensus

  200 Dryden Rd E Dresher, PA 19025-1044

• 

  Ascensus

  4999 Louise Dr Ste 205 Rossmoyne Corporate Center Mechanicsburg, PA 17055-6907

• 

  Ascensus

  4135 N Front St Harrisburg, PA 17110-1616

• 

  Ascensus Inc

  3131 Camino del Rio N Ste 1040 San Diego, CA 92108-5711

• 

  Ascensus Inc

  404 Camino del Rio S Ste 608 San Diego, CA 92108-3556

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:04/23/2025

  Type:Delivery 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.

  This company is the ABSOLUTE WORST!!!!!DO NOT TRUST THEM WITH YOUR MONEY!!!MARCH 8TH TO APRIL 23...STILL WAITING ON MY CHECK!!!!EVERYONE WHO PICKS UP THE PHONE LIES!!!!!

  Business Response

  Date: 06/04/2025

  This plan was a service term due to a buy out of the company.
  The company had the wrong address for the participant.
  The company gave direction to force out the account to an ********************** Trust IRA.
  The account was established with Ascensus Trust.
  We sent the participant information of the force out to the incorrect address that was listed for the participant.
  The participant found out that we mailed information to them to the incorrect address. They assumed this was the check but it was the information of the force out to the Ascensus Trust IRA. 
  
  4/7/2025, The participant called and spoke to a representative and their call disconnected. The representative was unable to call the participant back because they immediately had another call. The participant called back and was unable to clear full security. The participant explained that the check was sent to the wrong address. The participant got upset about not being able to clear security and the wrong address and hung up on the representative. 
  
  The participant called Ascensus Trust after this incident six times between 4/8 and 4/25 to update the address, request a distribution and follow-up on the status of the distribution. (Im unable to listen to the calls from the Trust). The first check was issued on 4/10 from the trust and was not received by the participant even though it appears to have been sent to the correct address. A stop payment was done and the second check was sent on 4/25. That check has been received and cashed.
  
  Service called the participant and left a voice message for them to contact us again if we can be of any help.
  
  **The root cause of this issue was an incorrect address provided to us from the client.**

• Initial Complaint

  Date:04/21/2025

  Type:Product 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 opened a Solo 401(k) retirement plan for my small business with Ascensus. I made an over contribution and requested a disbursement of the excess funds to correct the issue. I submitted my forms for the request on February 26, 2025. It took several weeks before their support team notified me that they needed additional forms to be signed and completed. I did this promptly, but my request was still not processed. I had to call several times, request a supervisor, to finally reach someone who could address the issue. After the disbursement was sent to my bank account, I saw that I had a loss in my contributions due to the market fluctuation. I received this on April 10, 2025 (43 days after my initial request). At the time of my request, my account was valued over $15,800, a gain from my initial $14,000 contribution. I understand the risks involved with investing in the market, but the time and errors on their part are also to account for the time my transaction was processed. This delay resulted in the loss. I have called and emailed Ascensus several times over the past couple weeks to speak with a representative and the supervisor to discuss the issue. I have not been able to reach a supervisor directly via the phone as there is only a toll free line and they have said they are unavailable and have requested a call back. I have not received a call back and only short email responses without detailed explanation. I have also been hung up on by their support team and continuously promised to receive a call back, but still not received one. There is no way to reach a supervisor or file a complaint within their company and I am at a loss for what to do.I would like Ascensus to return the balance of funds to meet my initial contribution of $14,000. I received $13,122.90 and the balance would be $877.10. I do not need the trade request to be backdated to when I had a gain.

  Customer Answer

  Date: 05/19/2025

  I finally heard from the company after contacting a director via ********. They finally sent me the remaining balance that I was owed and that matter is settled.
  

  Business Response

  Date: 06/04/2025

  A voice message has been left with the participant to assist, call back name and phone was provided to them - waiting to hear back.

• Initial Complaint

  Date:04/14/2025

  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 was contacted by Ascensus on 3/17/25 and notified I would be receiving corrected 2024 1099-R forms. After having not received them, I reached out on 3/28, 3/31, 4/8, 4/10, 4/11, and 4/14 with no resolution or timeframe for completion. As of today, I was told I would receive a call from a manager within ***** hours but could not speak with anyone directly on the phone at the time of the call.

  Business Response

  Date: 06/03/2025

  We received the updated 1099r information through our operations leadership group and a service representative has provided to the client via email and called and left a message. 
  
  Please consider this resolved.

  Customer Answer

  Date: 06/13/2025

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ******* *******
  
  

• Initial Complaint

  Date:04/08/2025

  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.

  July 2024 ******** told our business that they were transferring the multiple partner SEP ***** to a new custodial company, we could not find enough information out about this company Ascensus since the transfer had yet to occur and until it did we then found out how horrible they are. They never had SEP *** accounts before and they were not ready for this business. ******** made their life easier yet made those lives of their customers, especially those like prolenea who have had a SEP *** with Vanguard for over 10 years, were impacted negatively. Their choice in companies has affected us greatly and until using them we would not know the questions to ask. Ascensus has a very limited list of investment options, their forms are spreadsheets that are very unprofessional not formalized to show the companies information, and they are not part of ***** meaning now that we have decided to leave them they only have the option to liquidate the funds and send a CHECK!! What antiquated company did ******** choose to move multiple participant SEP ***s to. So very disappointing after all these years. Since the company allowed electronic transfers into Ascensus we are demanding they find a way to transfer monies in a day electronically and to kind/like funds. We do not want them to liquidate the funds and write a check. Their process has no guarantees as to how long it would take and a check could easily be lost in the mail for weeks or months meaning we could lose a ton of money, this does not happen with most investment brokers because the market is so unpredictable, adding days weeks and months to this process is unacceptable. There is not an option for overnight and we have no idea when the funds would actually be sold and based on how the market is now even just a few days could negatively impact the customers. There is no governing of the process meaning we and our new custodial broker would have to manually and even now you can't reach someone wo a long wait.

  Customer Answer

  Date: 05/12/2025

  Ascensus has contacted us and sent an email with an option to handle our transfer of money in our *************** using a check issued within a day or two and then overnight that check to our new SEP *** custodian instead of what all other SEP *** custodians do which is electronically transfer the money to the new custodian as "like" accounts which means in this volatile market we have the chance of losing thousands of dollars using this antiquated method. Since the money went into the Ascensus account through the electronic transfer method, no one told us this would not be an option if we wanted to use another SEP *** custodian.  We are not happy with the companies response, though it minimizes the impact it does not remove it. 

   

   

   

   

   

   

   

  Customer Answer

  Date: 05/23/2025

  Ascensus has contacted us and we are reviewing our options.  They are still not able to complete our request to our satisfaction so again we are reviewing the options they have given us.  They should have never accepted Vanguard clients for their SEP *** products without having all of the same features as we had with Vanguard.  This has been a disappointment that could cost us hundreds of thousands of dollars. 

• Initial Complaint

  Date:04/08/2025

  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.

  Ascensus was suppose to mail a check with the money I had made with ******** my former employer. It has been 6 months since I have been waiting for my 401k money. I tried calling and getting a new check mailed, which they said they would mail and it would be in my hands by February 14, 2025. It is now April 8th, 2025, and still now word about my money. Every time a call they try to take another $30 away from my check.

  Business Response

  Date: 05/23/2025

  The participant requested a termination distribution in November 2025 so we issued two checks (one for pre-tax dollars and the other for **** contributions) on 11/20/2024. Both checks were voided and reissued again on 1/23/2025.  In both instances, the checks were mailed to the address on record of *************************************. The participant called in on 4/29/25 and initiated an address change. We needed to add his apartment number to the address, which we previously did not have on record. This would explain why he never received the previous checks. We reissued both checks on 4/30/25 to the updated address. Both checks are still outstanding.
  
  Here is what we have done thus far to resolve this:
  -We called the participant and left a message
  -We charged $35 for each check to be reissued with this most recent reissue. We put in a request to reimburse the participant the $70.
  

• Initial Complaint

  Date:03/21/2025

  Type:Product 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.

  FuturePlan was the administrator of my solo 401K plan which they had acquired through the purchase of the smaller company I originally signed up with years before. In October of 2023, they resigned from all the accounts acquired through this purchase by sending 1 email on October 30. I did not see this email and assumed that they were still doing their fiduciary mandated job. I found out this February that not only had they resigned, they did not file my 2023 401K tax form with the **** I have so far spent $500 in an attempt to avoid a much larger penalty of approx $23,000 for not having filed. What is really disgraceful is that FuturePlan, having made the decision to drop these accounts, BILLED in mid OCT $306.25 for services, knowing full well that they were not going to complete their yearly responsibilities of filing returns...which is probably the only time they have to actually do something for their ******* date, I have had communication with one person in the company who has sent an email to her manager outlining my issues, and assuring I would hear back. It has been 3 weeks and nothing.

  Customer Answer

  Date: 03/24/2025

  Original upload was blank.

• Initial Complaint

  Date:12/10/2024

  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.

  I have tried to rollover my Ascensus 401k to my individual Vanguard account since July ******** it is December, and I received a letter from my previous employer, they transferring out of Ascensus and there will be a blackout starting Dec. 13th. I checked and saw this transfer never happened so I called in. On Wednesday, Dec. 4th representative stated she could not locate form in system, so I sent another email with the form and the original email sent on July 19th. Representative stated the emailed form would not be received until 24 hours and to check in tomorrow as she could not do anything. On Thursday, Dec. 5th, I called in again and representative stated he could not find the form still, we reviewed email address, realized it was my fault as I sent it to ******************** and forgot the "s" before the "c" in Ascensus. That was my fault realized what happened, so I sent the notarized spousal consent form to correct email, but was told it would again not be processed until another 24 hours.On Friday, Dec. 6th, I call back in mid day and the spoke to the same representative (Jalen from Dec. 5th) and he confirmed the recept of the Notarized form sent on Thursday. He explained it would take a day for it to be processed. To wait until Monday evening and go to my account and via distribution-Termination page I would see the ability to initiate my rollover instead of the box that requires spousal consent form.On Tuesday. Dec. 10th, I still don't have access to rollover. I called. Was told my notarized consent form is rejected because commission exp. date was handwritten and I was listed as single and not married via portal, but they only sent email about marital status issue. I got employer to fix marital status in system. As a previous Notary Public, I know a handwritten date on the seal is valid. I asked to speak to management, but they refused to transfer call, but would notate request. I don't have access to my money, after sending new notarized form.

• Initial Complaint

  Date:11/27/2024

  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.

  I originally had an *** with ******** which was converted to a money market account during a divorce because ******** recommended this for ease of transfer. ******** apparently stopped servicing these accounts and, without my consent, transferred it to Ascensus, after the divorce. The divorce documents reference the Vangaurd account number as being awarded to my ex. I have given Ascensus every piece of paperwork requested and they keep saying they just can't figure out what account needed to be transferred despite the account number being specified and the fact that the avsolutly have the original account number from Vanguard, meaning all they have to do is match those numbers. They are demanding I have my paperwork amended, which will mean I have to pay the lawyer more money to do so, so that it matches what THEY want. Even though they literally only need to match the Vanguard account numbers. They seem to be purposefully coming up with excuses to avoid the court order so they can hold on to my money. They are defying a court order and placing me in jeopardy of further legal action because they have been holding my account hostage for literal months due to their refusal to match numbers up. In addition, my account is fluctuating with the market menaing there could be less money in there by the time they transfer it, meaning inwill be on the hook to pay my ex the difference in cash. Incompetent and unethical treatment of my account.

• Initial Complaint

  Date:11/25/2024

  Type:Product 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.

  My company has closed out our 401k with Ascensus, and our funds were supposed to be mailed out to us via bank check. I have been waiting for my 401k money for over two months. I have made several phone calls with this company trying to rectify the situation to no avail. They originally mailed out my check to a completely incorrect address I had not occupied in over 6 years. The second address they incorrectly entered into their system. The third time I called I was assured it would be changed to the correct township, and waited again. When I hadn't received the check after over 3 weeks I called again. They told me for the 4th time, that my check was sent to another incorrect address. At this point I had already asked to speak with upper management and had gotten no response, along with no check. I still have not received my money from the account.

• Initial Complaint

  Date:11/22/2024

  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.

  I have been trying to rollover my i401k that was purchased from ******** for several months now. After about 10 phone calls, I finally received instructions to submit a Transfer of Assets form **** in late October. I submitted the appropriate form on Oct 31 and a check has still not been sent to ****** as of 11/22/2024.