Complaints

This profile includes complaints for Inspira Financial Trust, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Inspira Financial Trust, LLC

  2001 Spring Rd Ste 700 Oak Brook, IL 60523-1890

  
• 

  Millennium Trust Company

  PO Box 940287 Plano, TX 75094-0287

• 

  Millennium Trust Company

  8 Penn Ctr West Suite 101 Pittsburgh, PA 15276

• 

  Inspira Financial

  Omaha, NE 68164

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.

• Initial Complaint

  Date:07/06/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  My 401k balance from Fidelity was transferred over to Millennium Trust without any information being presented to me and was done without my knowledge on 07/03/2023. I called Fidelity's fraud department when I saw the withdrawal. They gave me the information about Millennium Trust although they said there was no correspondence. The phone number provided by Fidelity for Millennium Trust was for a different business. That phone number matched what is on the Millennium website. They suggested that I click on the "Find my benefits" section of the Millennium website which says I do not exist. I have no one to talk to or way to get back my $280,000+.

  

  Business Response

  Date: 07/19/2023

  Thank you for bringing this issue to our concern. Typically, when an employer or their designated plan recordkeeper direct the rollover of participant funds into an *** at Millennium Trust, prior notice is sent to each participant to provide an opportunity for those participants to direct a distribution or transfer to a different custodian if they do not wish to come to Millennium Trust. Due to an error by your plans recordkeeper, these notices were not sent prior to your recordkeeper initiating the rollover process. We received the direction to establish and fund accounts according to your plans rollover on July 14; however, we have connected with your plans recordkeeper and they have decided to rescind the rollover direction and return the funds to their prior accounts. One of our client service managers attempted to contact you to provide additional details.Please reach out to your previous plans recordkeeper for further information. Feel free to also contact us directly if we can be of further assistance. 

• Initial Complaint

  Date:07/05/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  My previous employer 401k was automatically rolled into an account at **********************. I noticed within a week of the transfer and immediately tried to initiate a transfer into my personal account.I submitted a transfer request over 2 weeks ago, and was told it will take 10 business days for the transfer to complete. I got an email today and was informed that the transfer was denied. When I called, I was told that I needed to send a photo of my ID for verification purposes.I have spoken to at least 4 reps from this company, and this is the first time I've been asked for this information. When I inquired about a faster way to get my money (I specifically asked about a wire since it is advertised on their transfer paperwork) but was given no reason as to why they cannot do this. They only told me it would take 10 business days to process.At this point, I can't even access the funds in my account and therefore am not able to invest the funds either. I would like some answers on why this is taking so long, how we can speed things up, and what they intend to do for the potential gains I'm missing because this process is taking so long.

  

  Business Response

  Date: 07/15/2023

  We are glad we were able to reunite you with your retirement funds. At Millennium Trust we take account security seriously, which is why we sometimes require identity verification documentation before we provide access to funds. Your funds were sent to your directed financial institution on July 5, and our records indicate that the check cleared on July 11. We appreciate your feedback and will review our processes for potential improvements. Please contact us directly if we can be of any additional assistance. 

• Initial Complaint

  Date:06/21/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Fees Fees Fees. Charges $30 a year for a rollover **** plus an additional $10 paper fee a year that they automatically sign you up for plus $25 to remove funds from account. I have 2 accounts that have been with them for 3 years so thats a total of $187 they've taken from me plus another $50 about to come when I transfer as soon as possible. I have IRAs with another company and they do not charge all these fees. Asked if any of it can be waved and they said no. Also informed rep I'm a military service contractor in and out of the country and they still said no. Everything adds up. Feels like they're robbing me from retirement funds I invested into and my previous employer invested into. Should be illegal

  

  Business Response

  Date: 07/01/2023

  Were glad we were able to connect with you and reunite you with your retirement funds. The fees applicable to your accounts were agreed upon by your previous employer when they directed the rollover of your funds into an *** on your behalf. You also should have received notice of the fees as well as the option to take control of your accounts and opt out of paper statements in the welcome communications we sent to you when your accounts were established. We have received your transfer requests and processed via overnight ***** at no additional cost. Please contact us directly if you experience any issues with delivery or if we can be of any further assistance.

• Initial Complaint

  Date:06/18/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 June first I filled out the forms with an customer service representative, to withdraw my money I was informed that the transaction would take a total of 10 days so that I get my funds direct deposited, by June 15th . On June 9th I get an email stating that I have to fill out the application on docuesign. So I did that plus sent in my voided check and my state ID I called back to see why my funds were not deposited into my account? I was informed by a supervisor that my banking institution was not on there list of banks, this makes no sense, I called my bank just to see if they even tried to verify my account and they haven't tried to verify my account, then I was told that I could have it sent by *****, OK I said, doing this would cost me $30 dollars. I Called back and was told because I told the supervisor to put a Building number on my account that I would have to provide them with proof that I need the building number to be put on the ***** envelope, there are 40 buildings on the property that I live on, I informed them of this. the so called back office informed the supervisor that I needed to do this??? I have never heard of this before, I provided your company with everything that was informed to me that I needed, I should not have to provide proof that ***** needs a building number, that's common sense but your company still will not send me my money. My next step is to contact me a lawyer, because there is no reason for your company to not send me my money. I was informed that my funds were liquidated on June 14th.. I am stressed out about all this. I should not have to go through this to get my money that was in trusted with your company. I am very disappointed that I have to go through all this..

  

  Business Response

  Date: 06/27/2023

  We're glad we were able to reunite you with your retirement funds. At Millennium Trust we take account security seriously, which is why we require account owners to verify their personal and banking information before providing access to their funds. We utilize an industry standard service to verify banking information; however, the financial institution where you directed your funds to be sent does not participate in the program and could not verify your banking information. Once you provided mailing address verification with your building number listed, your check was sent via overnight ****** One of our client service managers attempted to contact you to confirm you received your funds. Please contact us directly if we can provide any additional assistance. 

• Initial Complaint

  Date:06/07/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 asked for the proceeds of my account to be mailed to me over a month ago. They have never mailed me the check. Instead, I get a receipt for payment. Now, they are saying I never asked for it, which is a lie. I want the money and they won't help me. I want the money.

  

  Business Response

  Date: 06/15/2023

  Were glad we were able to connect with you and reunite you with your funds. When you accessed our online platform in May, you submitted paperwork to take control of your account and funds; however, those forms did not direct a distribution of your funds. The documents you later received in the mail were tax documents for your records depicting the 2022 rollover contributions into your account from when your previous employer directed the establishment of the account on your behalf. When you contacted ** on June 7, we directed you to the online form where you could initiate a distribution of your funds. We received your request and your distribution was completed later that day. One of our client service managers attempted to contact you to confirm you received your funds and to see if we could be of any further assistance. Please contact us directly if you have any additional questions.

• Initial Complaint

  Date:05/30/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  ********** Rolled My $1,363.37 401k plan over too Millennium Trust Company *** and they refuse to allow me to Withdraw my money, Millennium *** is untrustworthy

  

  Business Response

  Date: 06/09/2023

  Were glad we were able to connect with you and reunite you with your retirement funds. At Millennium Trust we utilize an industry-wide verification service to verify and authenticate banking information before releasing client funds. We use this service to help protect our clients and their funds. Unfortunately, the financial institution you were attempting to send your funds to does not participate in this program and we were unable to verify your banking information.Once we connected with you, your distribution was processed and checks representing your funds were sent via overnight ****** Please contact ** directly if you have any issues with the delivery or if we can be of any further assistance. We wish you the best in your future retirement planning. 

• Initial Complaint

  Date:05/22/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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.

  My Millennium acct# is *********. I requested a distribution 3 weeks ago in the amount of $9490.00 and I still have not received it. I filed all the paper work as requested and waited 2 weeks for my check. I called and informed them that I hadn't received my check yet, only to find out they hadn't even mailed it yet. They said they would send it out that day and I would receive it by the end of the week. Well the end of the week has come an gone and still no check.

  

  Business Response

  Date: 06/01/2023

  At Millennium Trust we strive to provide excellent experiences to every client; however, in your case we fell short of our standards. We sincerely apologize for the delay in issuing your distribution check. Your check has been sent via overnight ***** at no additional cost and should have been delivered today. One of our client service specialists attempted to contact you to provide the tracking number and ensure you received your check. Please contact ** directly if there were any issues with the delivery or if we can be of further assistance.

  
  We appreciate you bringing this issue to our concern. We have addressed the issue with our team and have provided the necessary training to avoid similar issues in the future.Again, we apologize for the inconvenience. We wish you the best in your future retirement planning. 

  Customer Answer

  Date: 06/03/2023

   
  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.
  
  Sincerely,
  
  *************************

• Initial Complaint

  Date:05/21/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  My previous employer ************ *********************** told me that they paid $128.97 to my 401k account to ********************** years ago.In year 2022, Millennium Trust Company issued me a FORM ****-R with $128.97; but I NEVER RECEIVED THE MONEY.I've been trying to get my funds out of Millennial Trust Company since Feb 16, 2023 for 4 months now - their customer service phone number listed on the FORM 109--R they issued to me as ************. However, they refused to issue money to me and asked me to talk with ************ *********************** at ************. Total with 20+phone calls during these 4 months, ***** said that ************ has had already paid to Millennium Trust Company under my 401K accoutn, that's why I was received the form 1044-R, I should ask money from Millennium Trust Company; but Millennium Trust Company said they're unable to locate my 401 K account, even though the account number was listed on their **** ****** they issued to me. ************ ***** said she would issue $128.97 to me and deal with Millennium Trust Company; BUT NOTHING HAPPEN UNTIL NOW. *********************** Attached is an email from ************************************, ***********************************************************************************************, ************** | Fax ************** Millennium Trust Company to Amber ************ indicating they're reaching the fund? where's the fund? I need a Supervisor Millennium Trust Company from to contact me on how to get my fund as I already reported to IRS per discussed with ***********************. Or I need Millennium Trust Company to ISSUE ME A REVERSED form ****-R FOR $128.97. Thank you

  

  Business Response

  Date: 05/31/2023

  Were glad we were able to connect with you and confirm you received the check sent to you last year representing your retirement funds from your previous employer. The check was issued on May 25, 2022, and our records indicate it was cleared on June 2, 2022. Please contact ** directly if you have any additional questions or if we can be of further assistance. 

• Initial Complaint

  Date:05/15/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 just discovered $45 is bank fees without ever having been notified that this account (which they took over from ************ would be charged 1.) and annual $35 maintenance fee and 2.) a $10 "paper statement" fee when I never even asked for a paper statement.They make in nearly impossible to transfer out of -- requiring you to get a whole bunch of WRITTEN paperwork (suddenly they don't care about paper!) from the entity you want to transfer to.This place is a garbage scam and I can't believe *********** handed my *** off to them!

  

  Business Response

  Date: 05/19/2023

  When *********** resigned and appointed Millennium Trust as the successor custodian of your funds, *********** sent you a communication including an explanation of the resign and appoint process as well as details regarding the fee schedule that would be applicable to your new account. This communication also indicated that you had the option to transfer your *** to another custodian or distribute your funds if you did not wish to transfer to Millennium Trust. In addition, we sent you multiple emails before and after your account was established with us which detailed our services and provided you with an opportunity to register for your account and review our linked fee schedule. Also defined in the linked fee schedule was the six-month grace ****** we provided for previous *********** account holders such as yourself to transfer or distribute their funds prior to fees being charged if they did not wish to remain at Millennium Trust.
  
  Although we feel the fees were charged appropriately in accordance with the communicated fee schedule, we would like to connect with you to further discuss your situation. We follow the standard industry process of requiring transfers to be initiated on the receiving custodians paperwork. We would be happy to walk you through the transfer process and engage with your chosen successor custodian if that would be beneficial. Once we receive your transfer paperwork, we will expedite your request. One of our client service specialists attempted to contact you. Please contact us directly at your earliest convenience.

  Customer Answer

  Date: 08/18/2023

   
  Complaint: 20063266
  
  I am rejecting this response because:

   

  They still have not released my money after three months, despite hours of emails and phone conversations, including a conference call with E*Trade. They have let this rollover into another year and have charged my account a $35 annual fee.

  
  

  I'd like to reopen this complaint.

  
  Thank you,

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

  
  

   

  

  Business Response

  Date: 08/27/2023

  One of our client ******************* attempted to contact you. Your transfer could not be completed as initially directed due to your successor custodian not providing sufficient delivery instructions to transfer your mutual assets in-kind. Once we received your direction to liquidate, your asset was liquidated and transferred as soon as we received the funds. In addition, we also waived the recent annual and closing fees as a courtesy.Please allow a few days for your funds to be deposited into your successor custodians account, and feel free to contact us directly if we can be of any additional assistance.  

  Customer Answer

  Date: 09/05/2023

  Complaint: 20063266
  
  I am rejecting this response because: 

  I don't think I will know the answer to this within the 7-day period.

   As of right now, my current broker E*Trade is still not showing an incoming transfer. 

   I don't have any new info yet 

   They *said* they're refunding the annual fee and they *said* they're sending a check to my new broker.

  But as of yet, I have no way of knowing if this will actually happen.

  
  

  Thank you,

  
  
  Sincerely,
  
  ***************************

  

  Business Response

  Date: 09/14/2023

  Were glad we were able to connect with you and confirm your custodian received the two checks that were mailed on August 25. Please contact us directly if we can be of any additional assistance.

• Initial Complaint

  Date:05/10/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Last year, unknown to me, my *********** 360 *************** was transferred to Millennium Trust. I received no written notice of the transfer, only a non-descriptive e-mail titled "We will help you save and invest with confidence" that didn't include any of the fee information directly in the e-mail itself. I did not agree to any new fees, and only was able to successfully login and access my account this week. I was surprised to see that they have already deducted a $35 annual fee and a $10 printed statement fee, although I never received any statements or correspondence at all in the mail. My original account balance was under $300, so they have already taken over 15% of my *************** in fees in less than 18 months. This is the opposite of helping me save and grow my account. If I close my account, they will charge another $25 account closing fee, which will total $70 in fees and over 25% of my account balance last January. I would like the fees charged to be refunded to my account and the ability to have my original balance distributed to me without fees. These techniques are clearly predatory, especially for small-balance accounts.

  

  Business Response

  Date: 05/19/2023

  When *********** resigned and appointed Millennium Trust as the successor custodian of your funds, *********** sent you a communication including an explanation of the resign and appoint process as well as details regarding the fee schedule that would be applicable to your new account. This communication also indicated that you had the option to transfer your *** to another custodian or distribute your funds if you did not wish to transfer to Millennium Trust. In addition, we sent you multiple emails before and after your account was established with us which detailed our services and provided you with an opportunity to register for your account and review our linked fee schedule. Also defined in the linked fee schedule was the six-month grace ****** we provided for previous *********** account holders such as yourself to transfer or distribute their funds prior to fees being charged if they did not wish to remain at Millennium Trust.
  
  Although we feel the fees were charged appropriately in accordance with the communicated fee schedule, we would like to connect with you to further discuss your situation. One of our client service specialists attempted to contact you. Please contact us directly at your earliest convenience. We would be happy to assist in distributing your account and reuniting you with your retirement funds.