Complaints

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:01/21/2025

  Type:Billing 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.

  In December 2024 I submitted a request to rollover my 401k from Ubiquity to another firm. In completing the form to rollover my ~ $450, I chose to wire funds and provided the information to facilitate such. Apparently Ubiquity made an attempt to wire the funds that failed, charging $20, then made another attempt, charging an additional $45. These fees coupled with their $95 distribution fee left about half of my 401k to rollover. Seems like Ubiquity is making a killing off fees. I contacted them to seek some amount of refund, but was told The fees are in the participant fee disclosure document. Buyer beware!

  

  Business Response

  Date: 02/18/2025

  We appreciate you taking the time to share your concerns, and we sincerely regret any frustration you experienced during your rollover process.

  Upon reviewing your request, we see that the initial wire transfer attempt was returned because the receiving account was not set up to accept wires. As a result, the funds were returned to the plan, and a returned wire transfer fee was applied per the terms outlined in the participant fee disclosure document. Our team promptly notified you of this issue and provided guidance on verifying your banks wire delivery instructions or selecting an alternative distribution method, such as a check.

  We strive to provide transparency regarding any applicable fees, and we apologize if this was not as clear as it should have been. If you have any additional questions or need further assistance, please reach out to our support teamwed be happy to help.

• Initial Complaint

  Date:10/25/2024

  Type:Product 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.

  My husband had his retirement funds invested in an *** and 401K with Ubiquity Retirement, to which I am trying to liquidate.I was told I needed to get a POA, have it notarized, and sent to my husband's former employer to have them send to Ubiquity, at which point ubiquity would send me an alternate payee form.I received the alternate payee form via email, which gave instructions to fill out have my husband sign and have notarized, and then send to his former employer to fill out and send back to ubiquity.All of this has been done, and they state that they have not received the alternate payee form from my husband's former employer which coincides with many of the other complaints on this platform, withholding information, stating lost, or unfound documents to hold onto funds. I have now had my former employer resend this information, and still nothing. I have no other choice but to:1. File a complaint with the *** 2. and as a last resort file a lawsuit under *****

  

  Business Response

  Date: 11/25/2024

  Thank you for bringing this matter to our attention. We sincerely apologize for the delays and any frustration this process has caused. We have reviewed your case thoroughly to provide clarity on the timeline of events. Here is a summary of the key milestones:
  
  August 12: We provided guidance on submitting the necessary Power of Attorney documentation to proceed with your request.
  August 27: You requested the distribution form, which was sent to you on August 28, along with detailed instructions.
  August 30: Our team identified that an incorrect form had been shared, and we took steps to address the issue.
  On October 25, the Plan Sponsor indicated they had sent the distribution form, but it had not yet been received on our end.
  November 13: The necessary documentation was successfully received, allowing us to move forward with processing your request.
  November 25: We confirmed that the distribution was completed, and the funds have been sent.
  
  We truly regret the extended timeline and the inconvenience it caused. While delays in receiving documentation impacted the process, we are taking steps to improve our internal systems to ensure faster resolutions and more proactive communication in the future.
  
  If you have any additional questions or need further assistance, please dont hesitate to contact us directly. 

  
  

• Initial Complaint

  Date:06/11/2024

  Type:Sales and Advertising 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.

  I began the process of attempting to withdraw my funds on 5/16/2024. Today is 6/12/24, and weve made little to no progress. The company has repeatedly made my former employer look like the bad guy - but my former employer can provide information that they did approve my withdrawal and that it was meant to begin processing on 6/3/24.I have $5,800 in a retirement account with this company. I am doing a separation of service withdrawal. The customer service has been zero help.

  

  Business Response

  Date: 06/12/2024

  We sincerely apologize for the delays and frustration youve experienced with your withdrawal request. Your feedback is important to us, and we are committed to resolving this matter promptly.

  Initially, we did not have your termination date (DOT) on file and required verification from your former employer. The person who sent the update was not verified on the account, necessitating further verification. It typically takes ***** hours for the changes to reflect in our system.

  As of 6/11, your employer had not yet approved the distribution in our system. We sent an expedited reminder email to your former employer to approve the distribution and will keep you informed to ensure a swift resolution.

  Thank you for your patience and understanding. If you have any further questions or concerns, please do not hesitate to contact us directly.

• Initial Complaint

  Date:04/22/2024

  Type:Product 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.

  Ubiquity is without doubt the worst, slowest, and most difficult to work with retirement account provider I have ever worked with. Every single thing that could go wrong with this company has gone wrong. I attempted to transfer my 401k funds from their service to another provider on Mar 7th 2024. They claimed the only way this process was able to be handled was via sending a paper check to the other institution. Over the course of a month, I repeatedly check with the new institution, where it never arrived. After contacting the new institution, they requested that I resend the check to another department. I contact my Ubiquity rep, provide them with the new information and ask them to stop the check and resend. For this privilege, they charge me $65 out of my retirement, on top of the fees they've already charged me. This was done on April 4th 2024. I diligently follow up with the new institution, their front office, back office, retirement department, customer service department, lost checks department. The check never arrives, finally they request that I simply resend the check because Ubiquity has either not sent or lost the check. We are now at April 22, 2024. My new provider STILL has not received the check. I have had to resend the check AGAIN, for which I have been charged ANOTHER $65.In this time my retirement funds have not been invested, I've lost hundreds of dollars in fees and stop payment costs, and been forced to deal with the most frustrating and lackluster customer service team of and financial institution I've ever encountered. If your company is investing your money with Ubiquity, save the time and frustration and simply open your own retirement account. They are a terrible experience to deal with when it comes time to receive your money.

  

  Business Response

  Date: 05/13/2024

  Hi *****,

  Thank you for bringing this to our attention, and we sincerely apologize for the inconvenience and frustration you've experienced. We understand the importance of timely transactions for retirement funds, and it's clear we have not met your expectations.

  Please be assured that we are taking your feedback seriously. As per the latest update on your case, a reissued distribution check was sent out on April 30, 2024. We hope this resolves the issue, but we will continue to monitor the situation to ensure it reaches you without further delay.

  We appreciate your patience and are committed to improving our processes to prevent such issues in the future. If you have any more questions or require further assistance, please don't hesitate to reach out to *** your saver support specialist directly. Again, we apologize for the difficulties you've faced and thank you for your continued patience.

  Best,

  Ubiquity Support

• Initial Complaint

  Date:03/05/2024

  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.

  This company is the worst 401K company I have ever been forced to allow to hold my 401K contributions. I am forced, in order to participate in 401K and receive employer contributions, to do allow them to hold my retirement funds. UBIQUITY has repeatedly made changes to my investment choices, changing my elections as to which funds and how much I chose to invest WITHOUT my express approval. Even when I have explicitly denied them the rights to make changes. When I contact them they argue with me and refuse to reverse their unauthorized changes, costing me significant growth value and earnings and forcing me into funds that charge the highest fees. I have tried repeatedly to get UBIQUITY to address this THEFT of my money, and I have contacted my employer, the Plan Administrator - with no meaningful response. If your employer chooses this company for 401Ks, FIND A ANOTHER Employer.

  

  Business Response

  Date: 03/08/2024

  We truly regret to hear about your frustrations and concerns regarding your 401K plan managed by Ubiquity. It's paramount to us that our clients feel secure and satisfied with how their retirement funds are managed, and we apologize if our service has not met your expectations.

  We understand that any changes to your investment choices are a significant concern. To clarify, as per our records and the information shared with you, your account is part of a model portfolio managed by **** Capital on behalf of ****, LLC., your employer's chosen plan administrator. The adjustments made to your investment allocations are a result of rebalancing efforts initiated by **** Capital to align with the original investment strategy selected for your portfolio. This process is standard practice in managed portfolios to maintain the target allocation over time, which can shift due to market fluctuations.

  We assure you that there has been no unauthorized alteration of your investment elections by Ubiquity. Our role in this process is to execute the rebalancing as per the instructions of the plan's investment manager, which in this case is **** Capital.

  We empathize with your concerns regarding investment fees and the impact on your portfolio's growth. We want to provide you with the control and confidence you seek over your investment choices. As such, moving your funds into self-directed investments is an option available to you, allowing you to manage your allocations directly. We are more than willing to assist you in making this transition and ensuring you feel informed and supported in managing your investments.

  Your trust and security are of utmost importance to us. We invite you to reach out directly so we can address any further questions or concerns you may have and guide you through the options available to you within your plan.
  

  
  

• Initial Complaint

  Date:02/28/2024

  Type:Product 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.

  For the last 2 weeks I have been trying to talk to a qualified representative in customer service about roll overs and winding up my firm's plan but no one will return my call. I have done this via e-mail and phone without any call back despite a voice mail system promising a return call based upon "my place" in the phone queue. I looked up the company on ****** and it shows that it is "closed" so now I'm wondering if it is going out of business and/or insolvent which if so is alarming. I need a manager at Ubiquity to immediately contact me.

  

  Business Response

  Date: 03/08/2024

  Firstly, I want to extend our sincerest apologies for the difficulties you have encountered in trying to communicate with us and for any stress or inconvenience this may have caused. We understand how important it is to have clear and timely communication, especially regarding such significant financial matters as rolling over and winding up your firm's plan.

  Please rest assured, Ubiquity is fully operational. We recognize, however, that our communication has not been up to the standard you deserve, and we are taking immediate steps to address this issue, including reviewing our phone system to prevent future malfunctions.

  We appreciate your patience and diligence in submitting the necessary forms for the distribution request. Your distribution request was received in our system on March 6, and we have expedited its processing. It will be ready for your approval in the sponsor dashboard later today (3/8/24). This approval step ensures the security of your funds, preventing unauthorized access to your account. Once approved, please allow up to 15 business days to complete processing. You can view the updated status of the request in your Sponsor Dashboard. 

  We are committed to resolving your concerns as quickly as possible. If you have any more questions or need further assistance, we encourage you to reach out directly.

  Customer Answer

  Date: 03/12/2024

   
  Complaint: 21360297
  
  I appreciate what I regard as a sincere response of the Ubiquity representative but it does not address the crux of the specific and general problems raised in my firm's complaint.  My firm has been a Ubiquity customer for over a decade and for most of that time service has been prompt and professional.  Over the last several months service has been almost non-existent and when it does exist it is unacceptably slow and deficient in responsiveness.  Emblematic of the problems is Ubiquity automated phone system where customers are directed to call for help. The system informs callers that they can maintain their place in the call queue by pressing pound after confirming their phone number.  The system then states the phone number of the caller but the number is NOT that of the caller.  It is some other number that is not even in the caller's area code.  The system allows the caller to input a different number which it then refuses to accept.  I have used the system at least three times with the same story and pattern.  What makes even worse is that after the system refuses the actual phone number it hangs up, leaving one with the alternative of doing nothing for trying again ...or e-mailing.  But the e-mail system is not that much better because Ubiquity takes days to get back if it does get back to the sender.  This occurs despite an auto-reply that indicates that a Ubiquity rep will respond promptly within a day or less.
  

  In the meantime while Ubiquity has made some progress on my firm's specific request it still fails to promptly respond to follow up e-mails with questions that my firm has sent to it.

  Ubiquity is handling extremely important matters for its customers and I have not experienced anything similar in recent times with other firms in the same industry. 

  I am available for any questions or further information as needed.

   

  Sincerely,
  

  Kriegman *********** PLLC 

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

  Managing Member

• Initial Complaint

  Date:02/14/2024

  Type:Customer Service 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.

  Ubiquity will not allow me to cancel my 401k plan, and subsequently access my funds in this account. I have emailed and called multiple times but no one will assist me. This needs to be resolved immediately.

  

  Business Response

  Date: 03/08/2024

  We sincerely apologize for the difficulties you experienced when attempting to cancel your 401k plan and access your funds. Your concerns are very important to us, and we regret any inconvenience caused by the delays in communication and assistance you faced.

  We are glad to report that your case has been resolved and that the termination fees were waived. At Ubiquity, we continually strive to improve our customer service experience, and feedback like yours is invaluable in highlighting areas where we can do better.

  Please rest assured that we are taking steps to ensure that the issues you encountered are addressed and that similar situations are handled more effectively in the future. We are committed to providing our clients with responsive, transparent, and efficient service. If there are any more questions you have or further assistance you need, we encourage you to reach out directly.

• Initial Complaint

  Date:02/03/2024

  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.

  I have been chasing MyUbiquity to release my fund from last 1.5 years, lost phenomenal amount of tax savings as could not take distribution last year. I left the employer in middle of 2022 and since that time I have been asking to release my funds. The company closed shortly after my leaving and since then they have been saying that we are going to close the plan and release your money. Made some 100 of calls and emails, no luck. I was the trustee on the account and it has been nightmare to get the account closed. The customer service is extremely poor and generally the answering person picks the call and then they return the call in 1-2 days if you are lucky.I have given up to retrieve my funds and finally I have to highlight this incident to help get my funds.

  

  Business Response

  Date: 02/05/2024

  Thank you for taking the time to share your feedback with us. We appreciate the opportunity to address your concerns. As we have discussed several times, you are the trustee of record for this plan. We understand that you sold the plan, but until and unless the new owner contacts us to take it over, you maintain fiduciary responsibility. Plans must have a trustee. You therefore continue to have the right to close this plan which would allow you access to all your funds. Should you choose to proceed with terminating the plan, or if the new owner replies to any of our emails or calls, we will be happy to assist you with your distribution at any time.

• Initial Complaint

  Date:01/19/2024

  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.

  The company claims it sent a 401k rollover check five weeks ago, on Dec 12, 2023, and it has never been received by my 2nd 401K broker. I placed multiple calls and left messages at the call center, as there is no customer service responding to your questions. The money in question is significant and is not being invested during this time. I am getting no callbacks or even an email.

  

  Business Response

  Date: 01/31/2024

  We sincerely apologize for the inconvenience you've faced regarding the delay in receiving your 401K rollover check. We understand the significance of the funds and the impact it has on your investments. We acknowledge that your repeated attempts to contact our call center have gone unanswered, and we deeply regret any frustration this may have caused. To address this matter urgently, we will expedite the process and send a replacement check via overnight mail this week. Additionally, if you prefer a wire transfer, kindly reply to our email with the necessary wire information, and we will ensure a prompt transfer of your funds. We understand the importance of resolving this matter promptly, and we appreciate your patience as we work to rectify the situation.

• Initial Complaint

  Date:01/18/2024

  Type:Product 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.

  Product Support is non-existent for the last 60 days.We have support tickets that do not even get a response (much less resolved) for weeks.Currently we have 3 tickets that have been opened 2 weeks without an initial response.2 of these tickets involve regulatory requirements.

  

  Business Response

  Date: 01/31/2024

  We sincerely apologize for the ongoing challenges you've faced with our product support. We understand the importance of timely responses, especially when regulatory requirements are involved, and we regret any inconvenience this has caused.
  
  We want to provide context for the delays. Currently, we are experiencing a high volume of inquiries, and unfortunately, an unprecedented portion of our staff has been out of the office due to illness. Please accept our sincere apologies for any impact this has had on the level of support you've received.
  
  In light of your specific cases, we have reviewed them internally, and to expedite resolution, we have assigned them to a more senior team member. This individual will be reaching out to you this week to discuss your concerns and work towards a satisfactory resolution.
  
  We understand the urgency of your situation, and we appreciate your patience as we address these issues. Our goal is to ensure that your support tickets are not only acknowledged promptly but also resolved to your satisfaction.
  
  Thank you for bringing this to our attention, and we are committed to making the necessary improvements to prevent such delays in the future.

  Customer Answer

  Date: 02/09/2024

   
  Complaint: 21163282
  
  I am rejecting this response because:  The **** LLC s December contributions are still in awaiting status and have not been process.  As of today, it has been 1 month since the data file and funding was provided to Ubiquity for processing.

  This issue has cost **** LLCs employees $100s of dollars in returns due to this untimely delays.

  Sincerely,
  
  *************************

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