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 Inc

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

• 

  Ascensus Inc

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

• 

  Ascensus

  101 W Broadway Ste 1420 San Diego, CA 92101-8215

• 

  Ascensus

  PO Box 124800 San Diego, CA 92112-4800

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:11/13/2024

  Type:Customer Service 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.

  ascensus made it so difficult to transfer my 401k to fidelity. I emailed and called multiple times but they didnt respond. I had to email in a consent form and pay $200 to have my money sent to fidelity

• Initial Complaint

  Date:11/09/2024

  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.

  my solo 401k was moved to ascensus by ********. I contacted ascensus to transfer my account to fidelity. fidelity had some information messed up so they sent the check back to me and i sent that with the forms ascensus told me to fill out to terminate the plan and receive the entire account paid out to myself(I have that conversation recorded if you need). had email back from ascensus (no actual mail response) one email wednesday 11/7 and one today 11/9. they are saying that there was an incorrect signature and before i get a chance to correct anything they are sending my money to the state to hold. i have no idea who to get ahold of as their posted hours are meaningless as they do not answer the phone line that is in their emails.l tried each number available and all were closed well before their 9pm eastern time. I just want a check for my money back to me, i hate having to pay a 10% early withdrawl penalty because i wanted it to go into another 401k at fidelity to build. ascensus has no right to keep my money when i have repeatedly told them what i wanted.

• Initial Complaint

  Date:11/05/2024

  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.

  On or about July 18, 2024 ******** transferred my Self-Employed 401K Plan to an affiliate, Ascensus, LLC with primary offices in *******, **. I initiated a transfer of assets to ******************** (with the intention of terminating my account at *********************** on August 22, 2024. Ascensus rejected the paperwork from ******** on several occasions with obscure rationale; first they insisted on submitting their withdrawal form in addition to the ******** transfer of assets request and then they requested a printed account statement (neither requirement was explained up front). Ascensus finally accepted the transfer of assets request from ******** on or about September 18, 2024.Ascensus did not process the transfer check until October 2, 2024 FOLLOWING the deposit of a $287.32 dividend from my investment in the ************************ ******* *********** (*****) on September 30, 2024. The transfer of assets on October 2, 2024 did not include the full balance of my assets as of the effective date of my request. Moreover, I was charged $20 for a fee with no explanation on October 31, 2024 when the account should have been closed as of that date (the Ascensus website refers to the ***** prospectus regarding costs and that prospectus makes no reference to $20 fee).I called Ascensus on November 5, 2024 to determine how to complete the transfer of assets and finally close the Self-Employed 401K plan. They directed me to complete a termination distribution (given the prior termination date) for the remaining balance of $244.26. The balance reflected ANOTHER $20 fee dated November 4, 2024 with no explanation.Given this fact pattern, I believe Ascensus is engaging in a deliberate and deceptive business practice to delay termination distributions and withhold balances due to maximize the application of fees that are in no way commensurate with the services offered (I was a customer for less than 4 months). Although my damages are small, I believe this practice is widespread.

• Initial Complaint

  Date:11/05/2024

  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.

  In August of 2024, I requested a hardship withdrawal from ************ who has my 401k from my employer. Future plan by Ascensus is a 3rd party administrator. They are holding MY money and will not release it. Managers and customer service **** have not been helpful. The reviews online support that this company is inept. 3 months in and its repeated phone calls to no avail. They need to be audited. I need MY Money or I wouldnt have filed a claim.

• Initial Complaint

  Date:11/04/2024

  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.

  On or about July 20th, ******** sold my 401(k) and transferred it to Ascensus.Since October 10th, I have been attempting to transfer my 401(k) to Fidelity. I initially contacted Ascensus on that date and was informed that I needed to set a "Termination Date" before submitting any forms, which they assured me would be treated as a rollover. I repeatedly emphasized that the assets needed to be transferred to ******** as a "non-reportable transfer," which would be treated as a rollover. Despite this, they refused to directly transfer the assets and instead insisted on sending a check. They then sent me a lengthy form titled "Withdrawal from 401(k)." After completing it, I was informed that a new form had since been implemented, requiring me to start the process ******** the past 10 days, I have emailed Ascensus twice, utilizing the forms they provided, to request the transfer. The first email, sent 10 days ago, was marked to be sent by next day air to Fidelity, but I have never received any confirmation. I then sent another email and also faxed it. However, I received no responses. Today, after spending over an hour on hold, including a dropped call after a 30-minute wait, I finally reached a representative. I initially waited over 30 minutes before the call dropped, and when I called back, the estimated hold time was stated to be 7 minutes, but I ended up waiting an additional 30 minutes. The representative stated that Ascensus does not respond to emails, despite my repeated attempts to communicate through this channel. It appears that they received my first email but chose not to respond. The representative stated that my paperwork was received and that there is a tentative liquidation date of November 18th. When I asked for an explanation regarding the delay, the representative said she did not know, as the office responsible for such matters had closed 15 minutes earlier.

• Initial Complaint

  Date:11/01/2024

  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.

  Asensus was supposed to rollover money from my Simple *** to my company's new 401K (About $50,000). I was told that they wrote and cashed the check for my money but it is not in either of my accounts and they do not know where it is at. When I call them I'm told to call their sister company, ********, who tells me to call Asensus and no one is willing to help me track down my money. I'm simply put on hold to repeat my problem to the next employee who does the same until I'm told they can't help me.

• Initial Complaint

  Date:11/01/2024

  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.

  Late July, ************ informed employees that our 401k pension plan was being dissolved and we needed to complete distribution paperwork. Ascensus/Newport Group is the holder of our retirement benefits, who initially communicated this to leadership. We had until August 18, 2024, to get our paperwork signed and returned to them. Ascensus/Newport Group told ************ (now known as *****************) that our monies should be distributed/completed on or around September 30th. On October 4th, Ascensus/Newport group sent an email to say they experienced a few unexpected delays which in turn has delayed the final processing of the distributions from the plan. Since then, I have called Ascensus/Newport Group seven times between September and October asking for an explanation. I have NOT received ONE. They cannot tell me what the delay is nor when I can expect my money. I asked for a letter to give to my bill collectors since I am unemployed, and they denied me that. They have told us since July we will have our money in September and failed to keep that obligation, despite us turning in our distribution paperwork on time. I find it EXTREMELY unprofessional and unethical that they are allowed to hold our money. I demand they release my funds to me and give a thorough explanation as to why they did not uphold their end of the deal. Each time I have called, their *** named ********** has consistently said there is nothing they can do, nothing supervisors can do, and no one to escalate this to. I asked if there was a way for me to get my money myself, and why do I have to wait for them to process all at once, and she said no as well. Their "system" won't allow distributions, even though I've been laid off by ************. I think this is an unethical company and I believe they are holding my money hostage due to company gain/benefit. I would like my money first and a thorough explanation as to why it has taken them over 3 months.

• Initial Complaint

  Date:10/30/2024

  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 cancel this account since May, and they are continue to charge me. This was an account i had for my business to handle my 401k that was liquidated in May. Please see the saga of emails and PLEASE, help me!!

• Initial Complaint

  Date:10/23/2024

  Type:Order 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.

  ******* *** is a scam artist and committing potential criminal behavior by keeping my funds due to the company's incompetency and demanding I sign a form back dated 3 years ago for her "compliance" I am not ok with this and they are holding My entire 401k hostage. Criminals!

• Initial Complaint

  Date:10/17/2024

  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.

  I am having difficulty with Ascensus Investments after sending email and speaking on the phone with them about payment for my brother's retirement account after he died in January of 2024. They were friendly, they sent an email with forms attached for signature that I signed and sent back on February 26. My local coroner in ****** recently sent a certificate of death that took a very long time. I sent Ascensus a copy on September 30th, but got no response. When I followed up in email to ask about the status, they sent another message that they had a phone number to call but no direct email other than the 529 plan department without a postal address. I think something has gone wrong at Ascensus and need you to help.