ComplaintsforSweep Strategies LLC
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Complaint Details
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Initial Complaint
06/12/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
On 11/8/19, Sweep Strategies held a presentation about investing in Trust Deeds through ******************************************** They brought in representatives from ******************** which who told us the investment would be a 2 year investment. On 11/13/19, we invested $155,000 for what we thought would be a two year investment. Since October 4, 2021, we have informed PSG and subsequently, AMG, and Sweep that we would like to cash out on our investment of $155,000 and receive our monies. To date, the only response is that they are checking on our request and are encountering challenges. The last correspondence was on 3/14/22 so they are making effort to comply with our request. Sweep Strategies as a financial advisor claims to have vetted the organizations they are working with, however, have not provided any assistance to date to help us get our investment back.Business response
06/21/2022
The clients that submitted the complaint enrolled in our Sweep Strategies financial education and coaching program that instructs clients how to increase their cash flow and pay off their debts faster. The complaint is not about our education and coaching. We also hosted informational sessions where we introduced companies like AMG and *********/PSG who educated our clients on strategies to further increase their cash flow. These companies are separate companies from Sweep Strategies and the clients signed their own engagement letter and disclosures with these companies.
We provided a Disclosure, which the clients signed, that expressly states:"Sweep will only introduce clients to *********/PSG who indicate an interest in making an investment with a company such as *********/PSG. Sweep will not provide any financial advice or investment recommendation to a client, take part in any negotiations between the client and *********/PSG, participate in due diligence regarding an investment in *********/PSG, hold any funds or securities in connection with any transaction between a client and *********/PSG, or take any other actions other than to introduce to an interested client to *********/PSG.
The determination as to whether or not an investment will be made by any client introduced to *********/PSG by Sweep is to be made solely by such person, and Sweep does not endorse or recommend any investment with *********/PSG."
Furthermore, the clients were in direct communication with AMG and *********/PSG. We were also in communication with AMG and *********/PSG to ensure that they provided the clients with the status of their request to withdraw their funds. However, AMG and *********/PSG are ultimately responsible for their own client relationships. The clients should continue to communicate with AMG and *********/PSG. We will continue to assist them in any way we can.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.