ComplaintsforInvesco Investment Services, Inc.

• Initial Complaint

  03/12/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  While to trying to recover my daughter's password, which in itself was unnecessarily difficult, Invesco determined the access level of my account was beyond what it should be. In February, I was blocked from online access to my account. I have been updated each week with the news that they are still working on it and that I can always call for services. I find it unacceptable that I should have to call (be put on hold) to monitor my funds and make transactions. A MONTH later I still cannot access my account online.

  Customer response

  03/12/2024

  My adult daughter was trying to recover the password to her own account.  That issue was solved.  However, during that process, Invesco stated that I should not be able see my daughter's accounts through my account.  I initially had access because I had opened her accounts when she was a minor. I am an authorized owner on some of her accounts.  So it has taken Invesco over a month to remove the "unauthorized" accounts from my view.  While they are trying to figure it out, I can't log in to my account.

  Customer response

  03/15/2024

  Complaint ID: ********,

  Please provide more information on why my complaint was closed.  I provided the initial complaint and then a follow-up upon request.  The only feedback was asking about my daughter's age (21) which is irrelevant to the complaint. Her age doesn't have anything to do with me being blocked from online access to my account for over a month. The issue is the length of time it is taking to resolve the problem. It should not take this long to remove my access to her accounts. I can't access or read my online financial statements. I can only check my balances and make transactions by calling in - meaning I have to  call to have someone go over my entire portfolio before I make any decisions.  My overall retirement  portfolio is inaccurate because without online access, my investment management software cannot keep the accounts current. 

   

   

  Customer response

  04/01/2024

  I was given online access to my account on Wednesday, March 27. However, I still do not have online access to a joint account between me and my daughter.  They are still working on this issue that begin mid-February. I recently spoke with a representative who said it wasn't necessarily that the issue was so difficult, but that the IT dept was so busy. 

  Business response

  04/05/2024

  see attached

• Initial Complaint

  06/06/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My husband set up a solo 401k **** ********** **** ** ******* with Invesco many years ago. He called to inquire about beneficiaries and was told no beneficiaries are maintained on this account. He asked if the funds would transfer to his spouse per federal regulations and the response from an Invesco representative was yes. My husband passed in Nov 2022 and as his surviving spouse I am not able to claim these funds as Invesco notes that I must complete paperwork that requires a signature guarantee or letter of testamentary. My bank will not provide the signature guarantee as they need paperwork from Invesco that I am the rightful beneficiary. I now have an attorney working to secure a letter of testamentary which is basically probate and results in substantial money and time. My complaint is why Invesco does not follow the federal regulations and provide information to such so the bank will process the signature guarantee? Thanks *** **********

  Business response

  07/06/2023

  Dear Sir or Madam: 

  Thank you for contacting Invesco regarding a complaint, ID ********* *** ********** submitted concerning ****** ** ************ Solo 401(K) account. 

  In order to comply with the Invesco Privacy Policy, we are unable to disclose non-public customer information to non-affiliated third parties, including the Better Business Bureau. Invesco can only respond to the issue raised in this complaint directly to our customer. 

  We will, therefore, reach out to *** ********** directly to attempt to resolve this issue. 

  Please reference the communications ID listed above on any future inquires regarding this request. 

  If you have any questions regarding the above information, please call one of our Client Services Representatives toll free at ************** from 7:00 a.m. to 6:00 p.m. central time, Monday through Friday. We will be glad to provide future assistance. 

   

  Sincerely, 

   

  Tricia Wilson 

  Correspondence Representative 

  Customer response

  07/06/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  
  Complaint: ********
  
  I am rejecting this response because:
  Invesco has stated previously that they will contact me and they have not.  The issue they fail to answer is why they do not follow 401k regulations regarding spousal beneficiary. 
  Regards,
  
  *** **********

• Initial Complaint

  05/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  After thirty years, I needed to close my 403(B) account - which Invesco controlled. In the beginning of May 2023, I completed the steps needed; was told a 'check was in the mail.' My account shows 'closed' with Invesco but four weeks later, still no check. When I called again, I was told that for a $20 dollar fee, my check could be overnight delivered by UPS. Agreed to this adjustment, but, a week later, still no check. Invesco has had my 20k for over a month. Invesco owes me this money ASAP.

  Business response

  06/21/2023

  see attached

  We will reach out to the consumer directly. 

  Customer response

  06/22/2023

  ** ******* ****** ** ******** **** ***** ********* **** ********** ** *** ********** *********  ** *** ***** *** *** ****** ** ****** ******* **** ****** ******** ******* * **** ******** *** ******** **** ** *** ******** ** ********* ** ********* ** ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ******* *******

• Initial Complaint

  07/14/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On July 8th, 2022 I requested $1000,00 check from my IRA Mutual fund. I was told it would arrive Tuesday, 7/12/2022 by ***. As of 7/13/2022 I was told by a customer service representative that the check was going to be late by ***, as *** was behind with deliveries. I told them that I did not want to pay for the delivery because I wanted to use ******* *******. The representatives response was "It's now our fault." I requested a $20.00 refund for the delivery and requested a supervisor call me back. I got nothing. Today 7/14/2022 I did not get the check. I called Invesco and they tell me *** delivered the check to my front door. They did not. I requested that the check be cancelled and that they pay for an overnight to my house with a new check. The new confirmation number is: #********. When I asked when the new check would arrive the response was "I don't know...I have to check that for you." Am I going to be out $1020??? --- All because Invesco didn't want to use the preferred deliver provider ******* *******? If I would have given these incompetent people my bank account number, they would have put it in the wrong account.

  Business response

  08/01/2022

  Thank you for contacting InvescoSM regarding a complaint ***** ****** submitted concerning her Individual Retirement Account (IRA) account.
  In order to comply with the Invesco Privacy Policy, we are unable to disclose non-public customer information to nonaffiliated third parties, including the Better Business Bureau. Invesco can only respond to the issue raised in this complaint directly to our customer.
  We will therefore reach out to ***** ****** directly to attempt to resolve this issue.
  Please reference the Correspondence ID listed above on any future inquiries regarding this request.
  If you have any questions regarding the above information, please call one of our Client Services Representatives toll free at ************** from 7:00 A.M. to 6:00 P.M. Central Time, Monday through Friday. We will be glad to provide further assistance.
  

  
  

• Initial Complaint

  02/24/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Ive been attempting to have this company appointment a new advisor. I dismissed the first one as it wasn't needed. They still tell me that they will charge me anyway. The existing useless advisor does not return phone calls. If your goimg to charge me anyway. I need a new advisor with a phone numb er that they will answer, For the record this company took over for ***********, I believe it was in 2019. They where understaffed, poorly managed and unprepared for the acquisition.

  Business response

  03/10/2022

  see attached

  Thank you for contacting InvescoSM regarding a complaint ******* ** ***** submitted concerning his Savings Incentive Match Plan for Employees Individual Retirement Account (SIMPLE IRA).
  In order to comply with the Invesco Privacy Policy, we are unable to disclose non-public customer information to nonaffiliated third parties, including the Better Business Bureau. Invesco can only respond to the issue raised in this complaint directly to our customer.
  We will therefore reach out to ******* ** ***** directly to attempt to resolve this issue. 
  Please reference the Correspondence ID listed above on any future inquiries regarding this request.
  If you have any questions regarding the above information, please call one of our Client Services Representatives toll free at ************** •frotn 7:00 A.M. to 6:00 P.M. Central Time, Monday through Friday. We wili be glad to provide further assistance.
  

  
  

• Initial Complaint

  01/14/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have repeatedly attempted to have someone from Invesco actually respond to me regarding my 401K funds. Out of sheer desperation, I asked to close my account and have my funds returned to me over two weeks ago. Invesco has engaged in a nonstop effort to retain my 401K funds depriving me of my investment funds.

  Business response

  01/25/2022

  ********

  Dear Ms. *****: 
  Thank you for contacting InvescoSM regarding a complaint ******* ****** submitted concerning his Solo 401 (k) account.
  In order to comply with the Invesco Privacy Policy, we are unable to disclose non-public customer information to nonaffiliated third patties, including the Better Business Bureau. Invesco can only respond to the issue raised in this complaint directly to our customer.
  We will therefore reach out to ******* ****** directly to attempt to resolve this issue.
  Please reference the Correspondence fisted above on any future inquiries regarding this request. 
  If you have any questions regarding the above information, please call one of our Client Services Representatives toll free at ************** from 7:00 A.M. to 6:00 P.M. Central Time, Monday through Friday. We will be glad to provide further assistance.
  

  
  

  Customer response

  01/25/2022

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  
  Complaint: ********
  
  I am rejecting this response because:I do not accept the response made by the business to resolve this complaint. This is nothing more than a continuation of the continuing diatribe and continued refusal on Invesco's part to delay a full  return of our investment.
  
  Regards,
  
  ******* ******

• Initial Complaint

  09/30/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  My dad died and left my brother and I as direct beneficiaries of his investments. I called and received paperwork and they walked me thru filling out the paperwork. I checked back later and found the paperwork had been submitted in proper fashion and I should get an ACH payment within 3 days. After those days and the money didn't arrive I called back and was told ACH was rejected by bank and returned, the bank blamed *******, who blamed the bank. My complaint is that when it was rejected by my bank NO O No E from ******* called to tell me or seek to correct issue. They sent a check thru snail mail, not overnight, not signature required, not guaranteed delivery. That is unconscionable! I am now at the mercy of the US Postal Service, with no way to track the check and need the funds in the bank by Monday (to wait required 4 days before I can have access), so I can pay a $35,000 obligation on October 10th. Totally unprofessional and inexcusable.

  Business response

  10/06/2021

  Thank you for doing business with Invesco?.
  
  We recently received a request under ID ********, dated October 1, 2021.
  
  In order to comply with the ******* ******* ******* we are unable to disclose non-public customer information to nonaffiliated third parties, including the ****** ******** ******* ******* can only respond to the issues raised in this complaint directly to the customer. However, I can confirm that ******* ** ** ***** **** ******* *** ***** about his concerns.
  
  Please reference the Correspondence ID listed above on any future inquiries regarding this request.
  
  If you have any questions regarding the above information, please e-mail us or call one of our ****** ******** *************** **** **** ** ************** **** **** **** ** **** **** ******* ***** ****** ******* ******* We will be glad to provide further assistance.
  
  ********** ***** ***** ************** **************

  
  

  Customer response

  10/06/2021

  I would like to thank Invesco for their quick and professional response to my grievance. In fact, before they even had received notice of the problem, they called me and resolved the issue. I regret I over reacted and filed the complaint rather than waiting a few days. I have reviewed the response made by the business in reference to complaint ID ***** ******** **** *********

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