Complaints

This profile includes complaints for T. Rowe Price Associates, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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T. Rowe Price Associates, Inc. has 9 locations, listed below.

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• 

  T. Rowe Price Associates, Inc.

  100 E Pratt St Baltimore, MD 21202-1009

• 

  T. Rowe Price Associates, Inc.

  4515 Painters Mill Rd Owings Mills, MD 21117-4903

• 

  T. Rowe Price Associates, Inc.

  PO Box 17490 Baltimore, MD 21297-1490

• 

  T. Rowe Price Associates, Inc.

  105 E Lombard St Baltimore, MD 21202-1033

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  T. Rowe Price Associates, Inc.

  370 Old Trail Rd Baltimore, MD 21212-1516

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:11/03/2022

  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 father passed **** in February of 2021. I, as his daughter, was made executor of his estate. My father had several accounts with T Rowe Price which he contributed to for many years. After his death, we were attempting to settle his affairs which including taking care of his retirement accounts. He had accounts with six different investment firms. We were able to take care of 5 out of 6 very easily. T Rowe price being the 6th. Trying to work with T Rowe Price has been an incredibly poor user experience. It seems like it should be a straightforward process, it has been anything but. Initially I called them, they requested a few forms be mailed in, and I never heard back. I called a few weeks later, they said they had the forms but now they needed another one. This happened several times. Every time I called them, the goal post was moved back. We have sent in form after form, made call after call. We have been stonewalled at every turn. They even went as far as setting up an account for us at one point, telling us over and over the funds would be transferred by this day, then another day, then another. Obviously the funds are still with T Rowe Price. We first contacted them nearly 2 years ago and we are no closer to any sort of resolution. We want to resolve this issue ASAP. Our next move will be to hire a lawyer and pursue legal action and/or file an official complaint.

• Initial Complaint

  Date:09/20/2022

  Type:Customer Service Issues
  Status:

  UnansweredMore 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 father passed away in February 2022. He kept his retirement account open with T. Rowe Price in the amount of $28.00. Yes just $28.00 has been the guarded secret of T. Rowe Price for MONTHS. As his daughter I was not listed as a beneficiary on his account, my mother was, who passed away seven years ago.
  Going through probate court to manage his estate I needed to list this as one of his assets. T. Rowe Price sent me the paperwork to fill out where it stated I could send copies of his death certificate. I called to verify this with their customer service call center and was told that would be fine. After submitting the paperwork, they sent a letter to my father's address out of state, which had to be forwarded to my address, stating the paperwork was incorrect.
  I called their customer service number again & was told to send an original copy & was finally told that "someone else" was a beneficiary on the account, which was my mother. So, when I sent in the paperwork the second time, I included original copies of both my parent's death certificates.
  A few weeks later I received yet another forwarded letter addressed to my fathers out of state address stating again the paperwork was incorrect.
  Every-time I call I am treated like I am trying to steal this money, $28.00, which I could care less about it, I am only doing this to close out his estate. If T. Rowe Price is so desperate for it, they can keep it, I just want them to close out the stupid account so I can move on with my life.
  Today I called to follow up on their last letter & the woman from customer service put me on hold for 20 minutes & said they're still reviewing the latest paperwork I sent in about a month ago. I asked to speak to her supervisor & she hung up on me. Their customer service support is atrocious.
  I called back again after I was hung up on & am now being told to file different paperwork!
  They have made an awful time in my life even worse with their uncaring & incompetent support.

• Initial Complaint

  Date:09/14/2022

  Type:Sales and Advertising Issues
  Status:

  UnansweredMore 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 contributed to my employer's 401K plan via T. Rowe Price. The moment my T Rowe Price account fell below $5K due to market fluctuations, T Rowe Price closed my account and automically rolled the account over to Millenium Trust.
  
  I received no advanced notice that this was happening and could not get verification from T Rowe Price or Millenium Trust that the account rollover had actually taken place and when the new account would be open. My $5K is currently sitting in limbo with no timeline on when I will have access to my funds. On top of this, I am currently under contract for purchasing a house and our lenders are watching all of our account movement carefully so am sure questions will be coming for me on this before our closing. How in the world can this be legal?
  

• Initial Complaint

  Date:08/16/2022

  Type:Product Issues
  Status:

  UnansweredMore 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 worked for an employer named Monin for a very short time and received only one paycheck. Money was taken from my one paycheck and deposited into a T. Rowe Price 401K. The amount was about $86.00. I called T. Rowe Price on several occasions to request the deposit be released to me and was told I would need to fill out handwritten paperwork and sign it then mail via USPS back to T. Rowe Price. I felt this was alot of jumping through hoops using dated technology (filling out paperwork with a pen and snailmailing it back) but I did it anyways and mailed the forms back. Today I called T. Rowe Price again to inquire about the status of this $86 and was told a check was being mailed in the amount of $35. I asked why the difference and was told T. Rowe Price was charging me a $50 fee. The only fees ever discussed were 20% or 30% in taxes being withheld. I would have never approved this and would have left the money in the 401K.

• Initial Complaint

  Date:08/09/2022

  Type:Product Issues
  Status:

  UnansweredMore 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.

  T Rowe Price is refusing to allow me to manage and access an account of which I am the custodian and illegally withholding securities and capital. I have been trying to access this account for months now and T Rowe Price is making it impossible to do so. They are deliberately and willfully stonewalling me, despite all the information they have asked for being provided to them. I am the custodian of the account and have all paperwork and identifying information to prove so. Despite an egregious amount of calls, messages, exchanges (15+ instances this year alone), including numerous instances in prior years as well, they are refusing to let me access the account properly. More shockingly, the firm is lying to me directly in regards to my ability to access the account and manage capital. When I ask to speak with a supervisor, they routinely say someone will call you back within 48 hours, and nobody does. Their customer service routinely tells me they will call back tomorrow, and they don't. I have all these calls recorded, including their blatant lies and misinformation. I have been polite, cordial and responsive on everything they have asked. When I recently expressed concern that they are refusing to let me access this account, they promptly suspended my access to the online platform completely and for no reason whatsoever. I have never in my life seen behavior like this from any financial institution, brokerage or asset manager, it is truly shocking and appears to be illegal. They have held this account since 1996 and have routinely refused to be cooperative in any manner, they are withholding capital and securities that do not belong to them. This firm is well known for creating as many difficulties as possible if they feel an individual is trying to access or transfer capital. They have deliberately lied to me on multiple occasions, providing fraudulent information and being completely uncooperative. I believe they have stolen my securities and capital.

• Initial Complaint

  Date:08/01/2022

  Type:Product Issues
  Status:

  UnansweredMore 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 requested a hardship of funds from my 401k because my spouse is on dialysis and we are having financial problems. I was told it was approved but only a portion of what I requested and I would receive my funds. After not receiving the funds I called back and was told to submit more documents with a due date for something that was clearly already due! I just want my money and to never do business with them again.