Michael T Vrt
map-marker Minneapolis, Minnesota

Customer wants to know looking for answers

I had an account opened on 4/96 and now I have no clue as to what happened to it and no one has no answers. Just wondering how and why a company would take your money and not notify you as to why. If anyone can help I can be reached at mlt592003@***.com it would have been nice if AG had a customer service number what a company.
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Loss:
$2000
Reason of review:
Poor customer service

Preferred solution: Full refund

Anonymous
map-marker Cartersville, Georgia

A.G. Edwards account closing fee

I just closed my A.G. Edwards investment account and they charged me $75 to close it. Seems I remember a few years back that they sent a notice that it might cost $30 to close an account. I just didnt believe a company could be that crass so I guess I just ignored it. This $75 is a rip-off fee and the penalty extracted for having the temerity to move MY money. Granted they might have to do few computer keystrokes to manage it, but isnt that just a cost of doing business that should be covered by their normal fees when I traded stocks and bonds? How bad is it when they take your money simply because you want it back?!?!
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2 comments
Guest

Welcome to the world of wealth management where all of these companies appear to get away with creating and implementing rules and polices that do nothing for the customer and are seldom if ever discussed with clients entering into a relationship. In addition to close out fees, load fees and the many other hidden costs associated with allowing the wealth management business handling your money, these companies get away with charging their customers a quarterly management fee that is taken off the top of your total holdings to the tune of anywhere from 1-3% depending upon your total portfolio holdings irregardless if they make or lose money during a quarter.

Guest

Same at Northwestern Mutual Financial Services. $75 closing fee AND $50 maintenance fee for a grand total of $125 for moving MY money for reasons of poor services. Outrageous!

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