ComplaintsforAmeriprise Financial

• Initial Complaint

  05/16/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  For the past year Ameriprise has been telling me they have been trying to transfer my 401a from a Brighthouse annuity to a *****************. The first Ameriprise advisor left the company. The second and third advisors have been unable to complete the transfer after a year of excuses and blaming everything other than their own mismanagement. I never hear anything from them unless I contact them for information. The $600 fee paid on 4/16/22 has paid for nothing but frustration and anger.

• Initial Complaint

  09/23/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My wife and I had $19.05 withdrawn from our checking account monthly for many years to pay for life insurance as part of a divorce settlement between my wife and her ex-husband. The children have come of age and the policy was no longer needed. I tried to have Riversource Life (or Ameriprise Financial) stop the payments but they told me I nor my wife were the names on the account it was being drawn from. This is obviously wrong since they have been reaching into my account for years and taking out money but yet they did not have the proper names on the account to stop it. This cost me a $30 stop payment fee I would like reimbursed but I would also like the company to be investigated since it seems they are taking money from accounts but do not have proper identification on their side. This seems a scary proposition to me.

  Business response

  09/23/2021

  We are unable to find any client with the name ***************************.  In order for us to review this issue we would need the account owner name and account number for the life ********************** policy.

• Initial Complaint

  08/04/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have been trying to close out an investment account with over $100,000 since 4/27/2021. The deceaseds estate has been on hold due to this companys delay in settling the account. Numerous phone calls, emails, and in person visits to their offices has not resolved this matter. Every time I attempt to get a firm date as to when the funds will be distributed I am met with delays, more paperwork to be completed, and unkept promises for the return of the funds. The deceased, ***************************, had accounts with 5 other institutions, all of which returned the funds expeditiously except for Ameriprise. Ameriprise has made no attempts to return the funds while the drop in investments is more than likely reducing his investment.

  Business response

  08/11/2021

  see attached

  Here is the password to open the *** document.  The password is case and symbol sensitive.

   

  Whitley_Summer082021#

  Customer response

  08/11/2021

   I am rejecting this response because:From the very first notification to Ameriprise on 4/27, it has been up to me to check on the status of the claim. They only notify me after I call to hear of any errors with my claim. The deceased passed on 4/26 Ameriprise was notified on 4/27. In May they received the death certificate and Letter of Testamentory. After 2 weeks, their **************** still had not advised me of additional paperwork. In June, after contacting their home office I was given a 36 page document to complete and return. I waited 4 weeks for the settlement until I called them and was told they wanted more info. Waiting 2 more weeks I made another call and was told the account would be settled within 3 days. Four days passed when I was told another piece of information needed to be faxed. Ameriprise needs to drastically rewrite their Procedures to include Call the client immediately upon errors or omissions in paperwork. Working to resolve customer concerns piecemeal is no way to do business especially for a $100,000 account. As of 8/11/2021, the funds have yet to be returned.
  
  
  

  Business response

  08/17/2021

  see attached

  Customer response

  08/19/2021

   I am rejecting this response because:
  There is no excuse for their ineptness in settling this account. Four months to settle an account is irresponsible on their part. Sending 3 of 5 pages of a document continues to prove how *** they are in operating a business. Not notifying a client when problems or errors occur is ridiculous. Having a client repeatedly call and speak with 10 different people to settle a claim puts them in a bad light. No one should entrust their money this company. Management should be embarrassed! Excuses are commonplace within this company.
  
  

*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. ↩