ComplaintsforInvestors Group Inc.

• Initial Complaint

  12/09/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Hello on June 22 2022 I had an appointment with IG with an advisor ****** ********* to have automatic contributions take out my bank account. This was the 2nd appointment. Every this I did this the fail to take contributions out my bank account. I call and get NO answer I email get No answer. Than I call main office and they tell me I need an appointment to set this up ***** ****** *** ************ I now want them to complete this or to give me my RRSP and LIRA to me. They DO NOT have my best interest for me save any money for my retirement. *** **** ****** ** ******** * ** *** *****

  Business response

  26/09/2022

  On September 14, one of our Financial representatives was able to connect with the client early in the morning. She answered all the client's questions and took care of what was needed. Client was satisfied and his demands were met. ** ******** ****** **** ******* **** ** *** ****** * ********* **** *** ****** *** *************

  As Senior manager, I apologized to Mr ******* for the delays in handling his request and answering clearly his questions. Mr ******* now has my coordinates to reach me directly going forward to insure that he gets the level of service he deserves.

  Customer response

  03/10/2022

   
  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.
  
  Sincerely,
  
  Terry *******

• Initial Complaint

  08/09/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  In September 2018, my mortgage was up for renewal at Investors Group (IG) but I instead transferred the mortgage to **** On May 13, 2022, I received a letter in the mail with a Notice of Registration from Manitoba Land Titles and had to pay $20 to get the actual title info which indicates issues with the original mortgage transfer from IG to ***. I emailed *** that day and they replied on May 17 indicating that the wrong document was originally provided by IG during the mortgage transfer, and that *** requested a new document from IG to register the land title. On May 30, I spoke with Acqueline ********* from IG via phone and forwarded the documents to her via email. On June 2, she emailed me indicating that the discharge team would reinitiate the process and that it could take 60 days to complete. On Aug 2 – *** still did not have the documents, which were overdue on IG’s end (past the 60-day window). I emailed Ms. ********* at IG to inquire about the status. I sent emails again to her on Aug 8 and Aug 17 as I still did not have a reply. She replied on Aug 17 indicating that that the processors were aware of the situation, and it would take ANOTHER 6-8 weeks to process the documents. I emailed her back saying this was unacceptable as it had now been 75 days from my first email, and they had said it would only take 60 days. An additional 6-8 weeks takes the entire wait time to 16-18 weeks, much longer than 60 days. There is currently a lien on my house and my mortgage will be ready for full discharge by the end of September, but *** will not be able to do that because IG incorrectly processed paperwork 4 years ago and hasn’t been able to resolve the issue over 90 days.

  Business response

  22/09/2022

  Our team is in the process of connecting with the client to resolve their issue.  We will provide an update once this issue is resolved.

  Business response

  27/09/2022

  IG Wealth Management continues to work with the land titles office, the client’s current Financial Institution and our internal departments to come to a resolution.  The client has stated they have engaged **** ********** *** ******* ******** *** ************* The issue has been escalated to our Compliance Investigation team to open a formal compliant file to review the matter.  We are in the process of preparing an acknowledgement letter to the client outlining the process and providing them with an internal contact.         

  Customer response

  04/10/2022

   
  Complaint: ********  
  I am rejecting this response because they again have provided no resolution, timeline for resolution or any real progress.
  
  Sincerely,
  
  Anthony ******

  Business response

  14/10/2022

  Our review of the client's concerns are in progress.  We advised the client the transfer document has been sent out by courier on October 13, 2022.  IG also requested information required by ****  

  Customer response

  14/10/2022

   
  Complaint: ********  
  I am rejecting this response because the issue has still not been resolved after 4+ months. **** ******* ** ****** ********* ** **** ******* **** *** ********* *** ******** ***** **** **** * ******* ***** *** **** ****** **** ***** ******  
  Sincerely,
  Anthony ******

  Business response

  25/10/2022

  Good afternoon,

   

  I have forwarded your note to the investigator reviewing this matter for handling. As noted in our acknowledgement letter, review and a substantive response will be provided to the client within 30-90 days.

   

  Kindest regards,

  Danielle ******** *********

  Vice-President, Compliance and Chief Compliance Officer

  ** ****** ********** ********** **** ***** ********

  Customer response

  26/10/2022

   
  Complaint: ********
  
  I am rejecting this response because once again there is no resolution to the issue. *** *** ***** * **** ********* ** ** ****** **** ****

  - My mortgage still cannot be disbursed

  - There is still a lien on my home

  - IG had not addressed my request for financial compensation 
  
  Sincerely,
  
  Anthony ******

  Business response

  02/11/2022

  on November 2, 2022, IG Wealth Management has sent a letter of explanation to the complaint with an offer of compensation.  

  Customer response

  07/11/2022

  
  Complaint: ********
  
  I am rejecting this response because *** has advised that to discharge the lien on the title IG needs to discharge the whole lien of the mortgage since I have already paid off the mortgage to ***. This is new information that has surfaced since IG sent the letter to me, which you referenced. IG is currently working through this issue with *** but there is a financial component that IG will need to cover in order for this to happen. Until this entire issue is resolved, I cannot accept IG's letter.
  
  Sincerely,
  
  Anthony ******

  Customer response

  18/11/2022

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

  The last update I received from IG was on Nov 9 when the indicated that the discharge documentation has been completed and forwarded for processing. They have not confirmed that everything has been resolved and I just sent them an email asking for an update. From my side, this is still an open issue.

   

  Kind Regards,

  Anthony

  
  
  ********** ******* ******

  Business response

  22/11/2022

  IG Wealth Management continues to work with the vendor to have the mortgage discharged.  Documentation has been sent and we are awaiting a response.   We will fully cooperate with the requests received.   

  Customer response

  23/11/2022

   
  Complaint: ********
  
  I am rejecting this response because the issue is not yet resolved. The last correspondence I have with IG was on 11/18 where they indicated:

  ************* has requested additional information from Investors Group which we have since provided.  I have diarized this for follow up next week, I will keep you apprised of developments as they become available to me.
  

  Until this issue is fully resolved, it is not closed.

  
  Sincerely,
  
  Anthony ******

• Initial Complaint

  11/08/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I paid off a mortgage loan. The company agrees that no monies are owed. The company still has a lien on the property. I have attempted to resolve the problem amicably. I have had email correspondence with ******************** Juliana forwarded my case information to her manager *********************. on or before July 26, 2022. I waited about 10 days and wrote to Mr. ******* requesting a progress report on our issue by Tuesday August 9. I have had no reply from either Ms. ***** or Mr. *******. * ********* **** ****** ******* *** *** ****** ******* * ******* ********* ******* **** ******* ***********  I simply want Investors Group to send a discharge request to BC Land Titles Registry. I rechecked my records. They never sent a discharge document to me. They also claim that they don't keep a copy of discharge certificates.

  Business response

  23/08/2022

  This has been resolved, documentation requested by the client was sent to him on August 3, 2022.

• Initial Complaint

  23/06/2022

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On March 15, 2022, my account with IG Wealth Management was charged $ 15.75 for mailing me a paper statement. IG Wealth Management stated during a call that I had with one of their telephone representatives, that I was provided advance written notice, by ordinary mail, that this fee would be charged, unless I switched to receiving my account statements electronically. 1. I WAS NEVER PROVIDED ANY ADVANCE WRITTEN NOTICE OF THE ABOVE INFORMATION BY MAIL, OR BY ANY OTHER FORM OF COMMUNICATION, THAT A FEE FOR A PAPER STATEMENT WOULD BE CHARGED ON MARCH 15, 2022, CONTRARY to what the IG Wealth telephone rep told me. 2. IG Wealth Management HAD SENT NUMEROUS E-MAILS TO ME PRIOR TO MARCH 15, 2022, WITH MY E-MAIL ADDRESS THEY HAD ON FILE, BUT WHEN I REVEIWED EVERY ONE OF THE E-MAILS SENT TO ME IN THE MONTHS PRIOR TO MARCH 15, 2022, NONE OF THE SAID E-MAILS MADE ANY MENTION THAT I WOULD BE CHARGED $ 15.75 ON MARCH 15, 2022, IF I DID NOT ELECT TO HAVE MY STATEMENTS DELIVERED TO ME ELECTRONICALLY. 3. IG WEALTH MANAGEMENT HAD MY CORRECT MAILING ADDRESS ON FILE ON MARCH 15, 2022, AND PRIOR TO THAT DATE. 4. EVIDENTLY SO MANY CUSTOMER COMPLAINTS WERE MADE RE THIS STATEMENT FEE, THAT WHEN I CALLED THEM TO ASK ABOUT IT, AFTER RECEIVING A LETTER WHICH STATED A TRADE DATE OF MARCH 15, 2022, THERE WAS ACTUALLY A PRE-RECORDED MESSAGE EXPLAINING WHY THEY HAD CHARGED CUSTOMERS THIS FEE. 5. I FIND IT TO BE HIGHLY UNETHICAL THAT I WAS NOT NOTIFIED OF THIS BY E-MAIL, ON NUMEROUS OCCASIONS, PRIOR TO MARCH 15, 2022. 6. IT WOULD HAVE COST IG WEALTH MANAGEMENT ABSOLUTELY NOTHING TO HAVE SENT ME AN E-MAIL PRIOR TO MARCH 15, 2022, WHICH SPECIFICALLY DISCLOSED THIS FEE WOULD BE CHARGED TO ME UNLESS I AGREED TO HAVING STATEMENTS SENT TO ME ELECTRONICALLY. 7. THE********* MANNER IN WHICH THIS FEE WAS CHARGED HAS CAUSED ME TO CLOSE MY ACCOUNT. 8. UNLESS MY $ 15.75 FEE IS REFUNDED I WILL PROCEED WITH A COMPLAINT TO THE ATTY GENERAL OF MANITOBA. ********************************

  Business response

  12/08/2022

  Business Response /* (1000, 6, 2022/06/29) */ Thank you for advising us of our client's concerns. In accordance to the Mutual Fund Dealer's Associate of Canada (MFDA) complaint handling policy, IG Wealth Management has opened a file to review the matter. The client was sent an acknowledgment letter outlining the process and was provided with an internal contact Consumer Response /* (3000, 8, 2022/07/01) */ (The consumer indicated he/she DID NOT accept the response from the business.) IG Wealth has not provided any actual response to the issue raised in my complaint, nor have they offered any resolution, in their response to me dated June 29, 2022, from Ms. Jennifer ****** at IG Wealth Management. Rather, IG Wealth has simply notified me that they have initiated a review of my complaint and that they should complete said review within 30 days, but also stated that a full review may take 90 days. Therefore, their response to myself and the BBB resolves nothing and as such I cannot accept it. The complaint must remain open with a status of unresolved. Business Response /* (4000, 17, 2022/07/28) */ We have reviewed the client's concern regarding the mailing fee for the paper statement and as a gesture of goodwill we have sent a refund of the mailing fee to the client. We sincerely apologize for the inconvenience incurred surrounding the mailing fee for a paper statement. IGWM has sent a refund of the mailing fee to the client.

• Initial Complaint

  10/02/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have been trying to transfer an RSP for months now and have been getting nowhere. My bank has tried to contact IG multiple times and have received no response. IG says they never received the transfer request but my bank told me they have mailed the request at least twice and have also faxed the request twice to two different numbers that I received from IG. Only to be told by my bank that the faxes never went through. The communication with IG is horrendous. I will be emailing the transfer request form in the next coming days once I receive it from my bank. Just transfer MY money so I don't have to deal with you (IG) ever again.

  Business response

  29/04/2022

  Business Response /* (1000, 8, 2022/02/28) */ Thank you for advising us of our client's concerns. In accordance to the *********************************************** complaint handling policy, IG Wealth Management has opened a file to review the matter. The client was sent an acknowledgment letter outlining the process and was provided with an internal contact.

• Initial Complaint

  26/11/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  My mortgage with Investors Group was paid off on September 29, 2021. They continued taking mortgage payments until contacted and owe us $4,621.86 according to their own accounting. We contacted our agent and were told it isn't his issue, and were told to contact the mortgage department. My wife called on November 15th and was told she'd be contacted on November 17th with an explanation of what was going on, but was not. ******************************************************************************************************************* We were contacted via phone on November 18th and told our refund was processed on the 17th, and would take 2-5 business days to show up in our account. We were also told we would be provided with an accounting of all money taken and returned to us. It's been 7 business days and we still have not received our refund or financial accounting, and Investors Group is not returning our calls.

  Business response

  13/12/2021

  Business Response /* (1000, 5, 2021/11/29) */ Nov 29, 2021 @ 2:10p CST - spoke to Michael, addressed his concerns of the amount owing - the funds were sent by Bank Wire Nov 26, 2021 (have not arrived yet). Confirmed my phone number with him and will provide email contact information. Will send the breakdown of the overpayment and correction by email. I requested he contact me tomorrow regarding the receipt of funds either way (Nov 30, 2021). Business Response /* (1000, 8, 2021/11/30) */ Nov 30, 2021 - Confirmation received from the client, the refund has been received.

*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. ↩