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Business Profile

Investment Management

Victory Capital

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

This profile includes complaints for Victory Capital's headquarters and its corporate-owned locations. To view all corporate locations, see

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Victory Capital has 3 locations, listed below.

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    Customer Complaints Summary

    • 15 total complaints in the last 3 years.
    • 5 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:10/24/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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 simply wanted to access the account online, but was locked out. I called the number shown on the screen to get it unlocked. I went through it twice, but it's still locked. The last story I was given is that the account was automatically locked because my mail was returned by the **** when it went to my former APO. That was allegedly corrected and I waited the requisite time, but I still can't get into the account. Clearly, this company needs updated IT and policies. I wouldn't recommend anyone use them. I'll be closing the account. I loved my old USAA account and the ease with which I could move money around. This company appears to not want people to even know what's in their accounts. It raises a lot of questions given other customer complaints.

      Business Response

      Date: 11/03/2022

      See attached response. Thanks

    • Initial Complaint

      Date:07/25/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Victory Capital has for two weeks been misleading on how we can transfer funds from my daughter's UTMA/UGMA account. Their computer system has not been working properly and they have repeatedly given us the wrong forms to fill out. Forms that they later told us were incorrect. We are now late in being able to get funds for our daughter's college.

      Business Response

      Date: 08/04/2022

      See attached response letter.

    • Initial Complaint

      Date:06/09/2022

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      Account is titled under ********************************** and *******************************. It was originally a USAA tax free mutual fund which was transferred to Victory Capital when USAA discontinued and sold its investment division. Over a month ago we (******/********) contacted our account executive at Fidelity requesting to transfer all Victory Capital funds to Fidelity. Over the last month we have faxed and mailed information to Victory Capital, which company has stalled, obfuscated and otherwise made every effort to complicate this transaction. This should have been a simple transaction between Fidelity and Victory Capital taking no more than a few days. Victory Capital should have released the funds to FIdelity over three weeks ago. Instead we keep getting calls, and now, snail mail (not even priority), from Victory Capital, saying they need yet more information. We have had two three-way calls with our Fidelity executive and various agents at Victory Capital in which it seemed everything was arranged and funds would be transferred. Yet yesterday we received a snail mail letter from Victory Capital saying they need more information. This company is doing everything it can to hold onto our money, and we're beginning to suspect they don't HAVE our money. Victory Capital does not communicate in a timely manner, and have not bothered to reach out to Fidelity to proactively arrange this transfer. I am a proud US military veteran, have been with USAA for over 40 years, and have never had a complaint with USAA's handling of any of my business. How USAA could cede this portion of their holdings to this inept, possibly unscrupulous company is beyond me. We (******/********) need your help in facilitating this transfer once and for all, and in scrutinizing the shady business practices of Victory Capital.

      Business Response

      Date: 06/17/2022

      See attached response.

      Customer Answer

      Date: 06/17/2022

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Regards,

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

    • Initial Complaint

      Date:05/16/2022

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      Victory Capital refuses to give me access to my accounts which were transfered from USAA. I have call several times and have been promised that it would be resolved with in 72 hours but the problem continues. I do not know why they continue to prevent me access to the accounts.

      Business Response

      Date: 05/24/2022

      See attached response letter.

    Victory Capital is NOT a BBB Accredited Business.

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