We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Resources for Businesses My BBB
Share
Business Profile

Retirement Planning Services

Newport

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Retirement Planning Services.

Complaints

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

Find a Location

Newport has 20 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

    Please enter a valid location.

    Customer Complaints Summary

    • 56 total complaints in the last 3 years.
    • 7 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:08/29/2022

      Type:Customer Service 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.
      On 8/15/2022 I submitted a distribution request form for a cash payout of my 401K balance.
      I have been given so many different responses each time I have contacted this company to inquire about the cash disbursement of my funds. I requested Direct Deposit but was told it was not offered. I then opted for Expedited Delivery and was told that my checks were mailed out the evening of 8/26/2022 and if I didn't get them by 8/27/2022 than I should receive them by 8/29/2022 through regular mail. I was charged $60.00 for expedited delivery, and no check was delivered today in the mail.
      I am in need of my funds, and it's like I'm being ran around and around in the process. I have been told that the company received everything they needed to process the cash disbursement; yet I have received nothing on the dates I was told to expect it in the mail.
      I am requesting that your agency look into the business practices of this company; because their customer complaints by plan participants are many; and now I have become one too. Thank you for your assistance.
      ****************

      Business Response

      Date: 10/18/2022

      Business Response /* (1000, 5, 2022/09/12) */
      Thank you for forwarding. We have reached out directly to the complainant and the matter has been resolved.

    • Initial Complaint

      Date:08/23/2022

      Type:Delivery 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.
      Waiting on a $330,000.00 check that was cut on August 2. I know they sent it to the wrong address. I have tried to change the address for 14 months and they keep changing it back. Now they will not respond to my emails. Same thing happened last year and will probably continue each year.

      Business Response

      Date: 09/20/2022

      Business Response /* (1000, 5, 2022/08/31) */
      Thank you for forwarding. We have reached out directly to the complainant and the matter has been resolved.

    • Initial Complaint

      Date:08/18/2022

      Type:Customer Service 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 had a 401K with the Newport group, when my employment was terminated I requested a distribution. After one day of filing the request, my online account was closed and I was told by their service reps I have to wait until I'm 72 to request a distribution. Calling back the next day they told me my account is no longer managed by the Newport group and to contact my previous employer. My employer told me the fund is still being managed by the Newport group.

      They essentially ate my account and locked me out of their system. Their service reps act incompetent and clearly know they are scamming.

      Business Response

      Date: 09/16/2022

      Business Response /* (1000, 5, 2022/08/30) */
      Thank you for forwarding. We have attempted to contact Mr. ***** and left voicemails. He will need to work with his previous employer and their provider.

    • Initial Complaint

      Date:07/30/2022

      Type:Customer Service 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.
      I quit my job for another on July 8th. Once I received my final check, I contacted Newport to cash out my 401k. I was told that my status wouldn't be updated until the payday after my final check. On that date, July 29th, I contacted Newport again. I was told my status was still not updated and there was nothing they could do until my employer updated my status. After checking with my employer, my status has been updated. I was shown where I was marked "Employment Terminated" in ADP. $60k is a lot of money of money to have tied up, while being given the run around. Especially when i intended to use this money for schooling which is fast approaching. I am not the only recently departed employee having this issue, and would like it resolved.

      Business Response

      Date: 08/16/2022

      Business Response /* (1000, 5, 2022/08/11) */
      Thank you for forwarding. We have been in touch with the complainant for resolution.


      Consumer Response /* (2000, 7, 2022/08/12) */
      (The consumer indicated he/she ACCEPTED the response from the business.)
      Thank you for the quick resolution.

    • Initial Complaint

      Date:07/28/2022

      Type:Customer Service 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.
      I have a ESOP account with ***** foods that is being managed and kept with Newport Group. This is year 5 which is when I understand I can collect my Distribution. They have failed to send me my annual statement as well as they locked me out of my online access. I called this morning to speak to a representative to clear this up and get information about MY money. He was rude and arrogant and after I gave him my Social Security number, Date of Birth, Home Address and all Vital information he asked for a Security question answer. First of all I do NOT remember EVER creating ANY security questions, I told him this. He rudely said "what's your favorite pastime" and I of course was like well that's a pretty vague security question, is there another there that I could actually answer? He yelled at me that there are two and they both have to be correct. Then he said you have to call *****, I can't talk to you anymore and hung up on me! This is alarming considering they have a substantial amount of my money. PLEASE HELP! This is not a very professional way to deal with other people and their money.

      Business Response

      Date: 08/16/2022

      Business Response /* (1000, 5, 2022/08/11) */
      Thank you for forwarding. The employer has worked directly with the complainant and we consider this resolved.


      Consumer Response /* (2000, 7, 2022/08/12) */
      (The consumer indicated he/she ACCEPTED the response from the business.)
      I do accept this because I ended up going directly to ***** Foods to handle it and fix the issue. However this was a huge inconvenience and cost me a lot of my personal time and running around to do what Newport should have been able to handle for me. After all isn't that what they are paid for? To handle my ESOP and work with me to obtain my own monies. If they force a person to go directly to WINCO then why are they the middle man collecting a paycheck??? And treating people like low level criminals because they can't answer a security question they never created! Thanks!

    Newport is NOT a BBB Accredited Business.

    To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.

    Why choose a BBB Accredited Business?

    BBB Business Profiles may not be reproduced for sales or promotional purposes.

    BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

    When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

    BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

    As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.