ComplaintsforValic Financial Advisors, Inc.,
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Complaint Details
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Initial Complaint
01/06/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Unanswered
Valic Financial Services, Inc (VALIC) managed my fathers retirement account. My father, ***** ********, died three years ago and I was the sole beneficiary of the account. I was also the executor of his estate. VALIC had a settlement with the SEC and was required to pay clients for failure to disclose a conflict of interest. A check of $1,016.17 was issued to my father on 12/03/21 in such a way that it had to be deposited in his account, despite his account being closed for years. I am unable to deposit the check into my inherited IRA account because of they way the check was made out. I have contacted VALIC and VALIC's fund distributor/custodian, and they are either unwilling or unable to issue a new check. They indicated they would get back to me, but it has been 2 weeks, and I have heard nothing, nor would they give me a direct contact. I have already spent 10 hours on the phone trying to get the money they are obligated to give me, and all issues are driven by them (failure to keep appropriate records, failure to make check to appropriate recipient, and failure to correct their error). I have no more contacts to reach out to and feel there is nothing further I can do. I have also contacted the SEC and MA attorney general's office.
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BBB Rating & Accreditation
This business is not BBB Accredited
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Contact Information
Two Summit Park Drive, Suite 500
Independence, OH 44131
Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.