Newport Group

I have been dealing with Newport since 2/18/24. I quit my job on 2/17/24, contacted them the next day to cash out my 401k and stocks.

I knew the stocks would take awhile, but this is absolutely ridiculous. My job didnt terminate me until mid March so they couldnt cash out my 401k until then. It took a lot of phone calls and emails to get that done. Its supposed to be something you just log in and a few clicks to request the distribution.I had to mention in an email I was going to get an attorney if they did not cash my 401k out, and I finally got my 401k cashed out.

Several of my calls I got hung up on. I was never rude to these people, never raised my voice or anything. Every single time they said they were transferring me to a supervisor due to them not knowing anything about their job or about cashing out stocks they hung up instead. I had asked when their window to cash out stocks was and I was told on several calls August.

Which is the end of the fiscal year for the company I worked for so it made sense. I called to ask about the hardship because I have issues in my home and needed repairs and I was told I had $0 in my stocks! She said they sold my stock account to another company and she did not have authorisation to give me the other companies information. I was bawling my eyes out at this point.

I hung up and called back a few days later and they told me they had no idea what she was talking about, my money was there but I wasnt eligible to cash out stocks until Im 62. Im 39. They said I absolutely cannot cash out until Im 62. I asked for a supervisor and they placed me on hold, the same voice came on with a different name and said I was not eligible for 5 years after termination at my job.

So I called back a few days later, again they said the window is I. August, call back later to get the exact date. I called today to ask what the date is, now Im being told that the date was back in march, I missed the window and to call back next year to find out the window for next year in March. I explained to her I cant work right now due to being really sick and I need money to pay medical bills and get a car since I now have no car.

They dont do hardships. She said there is nothing they can do, call back in March. I asked politely to speak to a supervisor, she told me she can put in a ticket to have them call me back. I told her I would wait on hold for a supervisor, she said they cannot transfer calls, she has to email a ticket to escalate it and that the supervisor will call back in a 24-48 hour window.

I told her to put in a ticket and she said okay, and she went silent for almost 5 minutes, I could hear her typing really fast, I even asked a couple times if she was still there and she ignored me. Then she asked a question but so quietly I couldnt understand her and got mad and come off as rude when I said Im sorry I didnt hear you. I answered her question then she got all bubbly and was asking what else can I do for you and how was my service today.

I just said have a great day and hung up. Now Im here filing a complaint and I filed one on BBB, where their rating is equally as terrible as it is on this website.