Complaints

This profile includes complaints for Wells Fargo Advisors's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Wells Fargo Advisors

  1 N Jefferson Ave Saint Louis, MO 63103-2254

• 

  Wells Fargo Advisors

  402 E Main St Fort Wayne, IN 46802-1910

• 

  Wells Fargo Advisors

  6100 Lake Frst Dr NW Atlanta, GA 30328-3822

• 

  Wells Fargo Advisors

  701 S. Carroll Blvd. Denton, TX 76201

• 

  Wells Fargo Advisors

  2407 Broadmoor Blvd Monroe, LA 71201

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:05/30/2023

  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.

  Our father passed away in the middle of January 2023 and my siblings and I are listed as beneficiaries of his account. One sibling disclaimed their portion. The sibling who disclaimed had to sign in front of two witnesses in front of a notary. It was delayed because the sibling had to sign in pen and Wells Fargo disclaimed it because they did not sign in pen. Each of the rest of us had a similar experience with them. We scanned and signed the beneficiary notices and sent them to Wells Fargo. I called them and spent a lot of time on hold and they would restart it again each time. They are only able to message the people that are processing our account. Three weeks ago they contacted half of us and did not disburse money to the rest of us. There is no manager calling back,
  no way to escalate this and no way to get in touch with anyone. My siblings have authorized me to speak on their behalf.
  
  I really want someone to explain how the money was divided and to distribute the money to the rest of us.

  Business Response

  Date: 07/19/2023

  July 19, 2023
  
  
  
  **** ******* ******
  ** ********* ***
  *** ********** ** **********
  
  
  
  
  Subject: We’re responding to your concerns
  Case numbers: *****************
  Account number ending in: ****
  Better Business Bureau, case number: ********
  Client name: ****** ** ******* (deceased)
  
  Dear **** ******* ******:
  
  Thank you for your patience while we looked into the concerns that you expressed to the Better Business Bureau,
  regarding your frustration with the difficulties experienced with trying to distribute the assets held in the Wells
  Fargo Clearing Services Individual Retirement Account (IRA) for your father, ****** ** *******. We’ve completed
  our research and are ready to share our findings on behalf of the Enterprise Complaints Management Office, in
  accordance with industry standards and Firm policies.
  
  First, we would like to offer our condolences on behalf of Wells Fargo Advisors (WFA) and offer our apologies for
  the concern caused by this matter. Please know that it was certainly not our intention to cause you or the other
  beneficiaries any concern or inconvenience. Upon the death of a client, his or her account must be handled in
  accordance with estate laws, industry rules, and Firm policies and procedures. Regarding our distribution
  procedure, when multiple beneficiaries are named we will distribute the designated assets to the specific
  beneficiary when we receive their paperwork in good order. Based on the IRA Change of Beneficiary form on file
  the following percentages were designated for each beneficiary.
  
  Beneficiary Percentage of Benefits
  Name
  
  **** ****** *****
  **** ******* *****
  **** ******** *****
  **** ****** *****
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and how we use it, see the Wells Fargo
  California Consumer Privacy Act Notice at Collection at *********************************************************************** *** ********** ***** ***** ******* ******* **
  *********************************************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  **** ******* *****
  **** ******* *****
  **** ******* *****
  
  We understand **** ******** disclaimed her portion of the assets and that they were divided between the
  remaining six beneficiaries based on their designated percentage of the account. All future dividend and interest
  payments posted to the decedent’s account will be divided using the same method.
  
  Once we were in receipt of the required documentation the assets were transferred to **** ******, **** *******,
  and **** ******* on May 15, 2023. On June 21, 2023, **** ******* and **** ******* received their designated
  portion of the account and your portion was transferred to your beneficiary IRA on June 23, 2023. Please be
  advised with WellsTrade® accounts being self-directed, there is no requirement to contact the client and any
  attempts to contact via phone are done as a courtesy. We understand that this is an inconvenient process
  especially during such a difficult time and are working diligently to make this a smoother transition for our clients.
  
  In addition, you expressed concern with the delay in processing **** ******* and **** *******’s distribution due
  to the firm requesting for them to recomplete the IRA beneficiary claim forms utilizing a ‘wet signature.’ Our
  records show that digital signatures for **** ******* and **** ******* were provided on the initial IRA
  beneficiary claim forms dated February 2023 and that both forms couldn’t be utilized because the ‘wet signature’
  is required. Upon further review of this issue, we discovered that due to an operational oversight, the forms were
  rejected in error. Feedback such as yours is important because it allows us the opportunity to pinpoint individual
  coaching needs and identify opportunities to improve our process. Please be assured we have forwarded your
  concerns to management for review.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact me at
  ###-###-####. We’re ready to help you Monday through Friday from
  7:00 a.m. to 3:30 p.m. Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  ******** **
  Executive Office Case Specialist
  Enterprise Complaints Management Office
  
  cc: Better Business Bureau
  

  
  

• Initial Complaint

  Date:05/22/2023

  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.

  Since 2018 I have been struggling with Wells Fargo (WF) to change account information of a decedent’s account, all the while providing WF proper court documentation, as well as their required documents via fax from a WF agent at a WF bank, FedEx, US mail, and email, many times resubmitting the same information/documents with no additional changes. ( I’ve successfully managed other assets from other financial institutions with NO problem!) During the entire ordeal with WF, I have been following WF’s agents’ directions, using their forms and filling them out as per their instructions. To date, WF has refused & continues to refuse to change pertinent account information &/or transfer the assets of the account irrespective of continuously providing them with the proper documentation, per their request and instruction. WF further refuses to have a knowledgeable agent contact me to assist with properly handling this account. Recently, WF had agent, ** **********, contact me only to ONCE AGAIN provide me with erroneous information & direction, only to have ********** lie upon discovering that she improperly advised and directed me. I am in receipt of a Notice from the State Controller stating that if the assets of the account are not transferred by 5/30/23 they will be confiscated by the State, this was communicated to WF’s agent AND **********, and yet they continue to refuse to transfer the assets contained in the account. WF has been providing me with false information for several years, it is only today, that they have requested yet another round of different paperwork and instruction. WELLS FARGO has been deceptive and unfair and continues to be deceptive and unfair in handling this account; as a result, this account has been losing money and may be confiscated by the State. WF’s agent has lied to your agency and other government agencies in the past stating that this problem has been resolved when it has not. Can you please help me as time is of the essence.

  Business Response

  Date: 06/07/2023

  June 7, 2023
  
  
  
  ****** ******
  **** ***** ***
  *** ******** ** **********
  
  
  
  
  Subject: We’re responding to your concerns
  Case number: *****************
  Account numbers ending in: ****, **** and ****
  Better Business Bureau, case number: ********
  Client name: *** ** ****** *** *****
  
  Dear ****** ******:
  
  Thank you for your patience as we reviewed the comments in your complaint submitted to the Better Business
  Bureau (BBB) dated May 23, 2023. Specifically, you stated:
  
  • You have been struggling with Wells Fargo Advisors (WFA) since 2018 to change account information to
  transfer assets from the Decedent’s Trust account.
  • You have submitted the proper court documents along with WFA required documents needed to
  complete your request.
  • You have followed instructions given by WFA representatives to complete the required documents.
  • You have been provided erroneous information and improper direction by the Case Specialist.
  • You received notice from the State Controller stating that if the assets are not transferred from the
  Decedent’s account by May 30, 2023, it will be confiscated by the State.
  • You believe that WFA has been deceptive and unfair in handling the account and as a result, the account
  has been losing money and may be confiscated by the state.
  
  Kindly note, WFA strives to provide our clients with the most outstanding customer service, and we sincerely
  regret that your experience has fallen short of your expectations. Please understand that when a client passes
  away, accounts must be managed by estate laws, industry rules, and Firm policies and procedures. There is a
  multitude of information including multiple documents required to be on file, and in many cases, a new account is
  required to be opened and in good order before we can disburse funds.
  
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and how we use it, see the Wells Fargo
  California Consumer Privacy Act Notice at Collection at **********************************************************************. See additional Wells Fargo privacy notices at
  *********************************************
  
  © 2021 Wells Fargo Advisors, LLC. All rights reserved.
  ECMO– BT173_Res_M_E_122021
  Our research found that your concerns regarding documents and delay in process were previously addressed in our
  letter sent to you on April 3, 2023, which stated:
  
  • Our research found that on September 7, 2021, you were not listed as an authorized party for the
  brokerage account. Based on this information, we were unable to complete your instructions to update
  the address or provide you with a copy of the 1099 Tax Form for the account.
  
  • Next, our records show that on September 8, 2021, the Estate Processing team communicated with you
  on, regarding the missing documents required to process your Estate request. The missing documents
  included the Affidavit of Domicile, Letter of Authorization, and the Decedent’s Death Certificate. Your
  Estate request was denied on September 14, 2021, due to missing Legal Opinion Letters, Certification of
  Trust executed after the Decedent’s death, and the copy of the Death Certificate was not legible. Your
  Estate request was denied again on October 12, 2021, due to a missing Letter of Authorization.
  
  • Finally, per our conversation on March 28, 2023, we understand that you spoke with a representative from
  our Estate team on March 22, 2023, who informed you that the notary and signature page were received
  and under review at that time. In addition, the representative advised you to contact our New Account
  Group at ###-###-#### to open a new account to have the funds transferred from the Decedent’s
  brokerage account to the new account once the new account and documents are determined to be in good
  order.
  
  You contacted us on May 12, 2023, to inquire about the status of the account transfer and the new account. You
  were informed that the account transfer request was in process as of May 12, 2023. In addition, you were
  informed that the brokerage account ending in **** that you opened on May 9, 2023, was in good order. Our
  research found that this information was accurate.
  
  Subsequently, we learned that the account ending in **** was not opened under the Trust title. Because the new
  account was titled in your name, the assets from the Decedent’s Trust account could not be transferred into the
  new account. Kindly note, the title of a new trust must match the existing account, unless a Legal Opinion stating
  the reason for the changed trust name is provided. Additionally, you were referred to the New Accounts Group to
  open a new trust account to have the assets transferred from the Decedent’s account to the new trust account
  once it was determined to be in good order.
  
  Our research found that the trust account ending in **** was opened on May 22, 2023, and all assets were
  transferred from the Decedent’s brokerage account ending in **** on May 30, 2023, into the new trust account
  ending in ****.
  
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions about this letter, please contact
  me at ###-###-####. We’re ready to help you Monday through Friday from 8:30 a.m. to 5:30 p.m.
  Eastern Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  ****** **
  ********* ****** **** **********
  ********** ********** ********** ******
  
  
  cc: Better Business Bureau
  
  
  
  
  
  **** ********************************

• Initial Complaint

  Date:05/19/2023

  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.

  I have been trying for the last two years to collect from Wells Fargo as I am a beneficiary on my fathers account. The necessary forms have been completed numerous times. The second party released the funds to Wells Fargo in 2/2023. I called in 4/2023 to check on the status with Wells Fargo. Was told everything looked great once again, just needed an updated signature page on the IRA Beneficiary Claim form, which I emailed the same day. Called again today and now all of a sudden there is a question about who the beneficiary is on the account. This is the first I am hearing of this after two years and numerous amounts of paperwork. Why would the second party release the funds if I am not the beneficiary? Per my father who passed in 2020 I am the only beneficiary. He was the beneficiary after my mother's death in 2018 (it was her IRA). There is no other beneficiary. Each time I call there is a new problem that pops up that I no one previously told me about. Then when I ask when it will be resolved I get "call back next week". I have heard this for two years. Then when I ask to speak to the individual doing the "research" they are not available for conversation. I am starting feel like I will never get this payment that I am entitled to. When I ask who my attorney can contact, they can't give information on that as well. Those that I have told about my situation cannot believe this is happening. I can't either. This must be their business model. Just keep stringing people along until they either give up or die and then Wells pockets the money. Shady business.

  Business Response

  Date: 07/07/2023

  ********** ********** ********** ******
  ** *** ****
  ***** ****** ** *****
  
  
  
  
  
  July 7, 2023
  
  
  
  ***** ** ****
  **** ****** ****
  ******** ** *****
  
  
  
  
  Subject: We’re responding to your concerns
  Case number: *****************
  Account number ending in: ****
  Better Business Bureau case number: ********
  Client name: ****** ** ******
  
  Dear ***** ** *****
  
  We’re sorry to hear about the passing of ****** ** ******. We realize this can be a difficult time. Thank you for
  contacting us with your concerns with the amount of time it has taken for the estate processing of the brokerage
  account ending in ****, the level of service you received and the inability to speak with particular operations team
  members. We’ve looked into it for you and are ready to share our findings.
  
  First and foremost, please allow us to apologize for any frustration or inconvenience this matter may have caused.
  We received initial Individual Retirement Account (IRA) Beneficiary Claim form documentation from you on
  March 11, 2022. This documentation was rejected on April 7, 2022, as we needed a Trust Certificate or Legal
  Opinion Letter. We received a new IRA Beneficiary claim form from you on June 29, 2022. This documentation was
  approved initially on July 8, 2022, and was sent to the annuity carrier, AIG Western National, on July 15, 2022, to
  process a request to liquidate the annuity in the account. On September 9, 2022, we advised you that the annuity
  carrier had requested additional edits to the submitted annuity liquidation request documentation and the annuity
  request had to be updated and resent. The updated annuity liquidation documentation was received, and the
  annuity carrier approved the liquidation request on January 31, 2023.
  
  We reassessed your IRA Beneficiary Claim form documentation and determined that you needed to resend an
  updated form, as the form on file was outdated. We received the updated form on April 14, 2023. The
  documentation was reassessed, and it was determined that there was an issue with the beneficiary designation
  that required legal review. This issue stemmed from an IRA Change of Beneficiary form that was signed by the
  account owner on January 7, 2019, that outlined a need to open a trust in the event of the account owner being
  deceased. The legal review was completed on June 4, 2023, and it was determined that you would need to open a
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and how we use it, see the Wells Fargo
  California Consumer Privacy Act Notice at Collection at *********************************************************************** *** ********** ***** ***** ******* ******* **
  *********************************************
  
  
  Trust Inherited IRA for the benefit of the Gavin Lang and act as the trustee and submit a Trustee Certification of
  Investment Powers (TCIP) and new IRA Beneficiary Claim form.
  
  Please understand that your Wells Fargo Advisors brokerage account ending in **** is a shell account for an
  externally held annuity at AIG Western National. Requests for liquidations or money movement are directed to
  AIG Western National for review, approval, and completion. We sincerely regret that your experience was less than
  what you expect from us.
  
  We’re Here to Help
  
  Should you have additional questions regarding your account or this process, please contact the Estate Processing
  Customer Service at ###-###-####. They are available Monday through Friday, 7:00 a.m. to 5:00 p.m. Central
  Time.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  me at ###-###-####, ext. 5428062. We’re ready to help you Monday through Friday from 8:00 a.m. to 5:00
  p.m. Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  **** **
  Executive Office Case Specialist
  Enterprise Complaints Management Office
  
  
  cc: Better Business Bureau
  

  
  

• Initial Complaint

  Date:05/18/2023

  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 have bad credit and I have debts in chexsystems and that creates issues for me financially. That is nobody’s fault but my own.
  
  It is for that reason I opened a second chance account at Wells Fargo, known as clear choice checking and it doesn’t have overdraft or checks and it was perfect for my needs of receiving my direct deposit from my employer and paying monthly bills.
  
  It was in the course of doing those basic tasks I was advertised repeatedly to try wellstrade and it was continuously marketed to me in the Wells Fargo app every time I logged on. Eventually I decided to try it out and I opened an account and invested $50 in a stock I never heard of and it almost tripled over night from $48 to $122 and I was pretty happy so I went to sell it.
  
  That’s when the problems started. I was not able to buy or sell my shares or transfer anything in or out of my new brokerage account and to this day never received any information from anyone about why or what happened. In fact I’ve never been communicated with not a single time other than my direct and repeated contact and after 3 weeks of this nobody from Wells Fargo or WFA ever bothered to communicate or respond to me in any way, ever.
  
  My stocks were frozen in my account because Wells Fargo decided not to hold my account and immediately put restrictions preventing me from liquidating or getting my money out of that account before they shut it down. After a week and a half I was able to get the restrictions lifted enough to have my stocks sold and the account was liquid and then I was told I needed ti do more paperwork to get the funds transferred to my checking. Then they put the restriction back and I had to have it taken down again and then they told me just to go to a branch in person to get my money. I spent 2 hours at the branch and still have not one penny of my money from my brokerage account almost a month later. I want my money back and I want someone to do something to avoid this for the next guy!!!

  Business Response

  Date: 05/26/2023

  Enterprise Complaints Management Office
  PO Box 5133
  Sioux Falls, SD 57117
  
  May 26, 2023
  
  Micah White
  3101 Zenkner Valley Rd. SW
  Centralia, WA 98531-9211
  
  Subject: We’re responding to your concerns
  Case number: *********91474135
  Account number ending in: 9036
  Better Business Bureau, case number: 20073860
  
  
  Dear Micah White:
  
  Thank you for your patience while we looked into your concerns with restricting being placed on your WellsTrade®
  account preventing you from selling securities or liquidating the account. You also expressed concerns with
  spending long periods of time on the phone and in a branch. We’ve completed our research and are ready to share
  our findings.
  
  We are responding to your complaint that you filed with the Better Business Bureau stating concerns with the
  restrictions placed on your account, and the lack of communication and help you received while trying to find a
  resolution to these actions and get access to your money. Wells Fargo Advisors strives to provide our clients with
  the most outstanding customer service, and we sincerely regret that your experience has fallen short of your
  expectations.
  
  Please understand the relationship between a client and Wells Fargo Advisors is a mutually agreed upon
  relationship that can be terminated at any time without reason by either party as outlined in the General Account
  Agreement you signed when your investment account was opened. Often times we must make business decisions
  that are not necessarily popular to mitigate risk but are for the betterment of not only our firm, but also our
  clients. After reviewing your application for a new account, a business decision was made to not hold the account.
  You were mailed a letter on May 12, 2023, advising of the decision to not hold the account.
  
  The WellsTrade® account is a self-directed account, which means that you assume the responsibility for
  understanding applicable regulatory rules that could put the account into a restriction and the removal of any
  restrictions. We confirmed that you were able to purchase the security before restrictions had been placed on the
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  
  We may collect personal data as part of the complaint resolution
  process. For the categories of personal data that Wells Fargo may
  collect and how we use it, see the Wells Fargo
  California Consumer
  Privacy Act Notice at Collection at *********************************************************************** *** ********** ***** ***** ******* ******* **
  *********************************************
  
  © 2021 Wells Fargo Advisors, LLC. All rights reserved.
  ***** ********************
  account. We verified the restrictions were temporarily lifted to allow the selling of the security. A check was
  overnighted to you on May 18, 2023, in the amount of $122.55. The overnight fee of $15.00 has been refunded
  and the account is flat.
  
  We would like to wish you success with your future financial arrangement. Should you have any additional
  questions about the account or this process, please contact our WellsTrade® representatives at
  1-800-TRADERS (###-###-####). They are available Monday through Friday, 7:00 a.m. to 11:00 p.m. Central
  Time.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  me at ###-###-####, ext. 5621128. We’re ready to help you Monday through Friday from
  8:00 a.m. to 2:00 p.m. Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  *** **
  ********* ****** **** **********
  ********** ********** ********** ******
  
  
  cc: Better Business Bureau
  

• Initial Complaint

  Date:05/17/2023

  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 am responsible for the distribution of my father in laws estate. I am unable to get a response from Wells Fargo advisors after spending in excess of eight hours on hold, submitting multiple requests on line and going directly to the branch. This is over a three month period. The branch person advised me that they too are having problems getting that division to respond and a formal complaint was filed on the branch Level. I have also filed a complaint with the attorney general.

• Initial Complaint

  Date:05/15/2023

  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.

  see Attached document

  Complaint against: Wells Fargo Advisors  **** ****** ****** ***** ***** ** *****

  I have two brokerage accounts with this firm. A regular and a IRA.  

   

  In my regular account  I purchased a large treasury note. The price was discounted from its maturity value.  I was under the impression that

  the difference was  the interest  I'd receive at maturity.

  The note matured and I received my money back, but no interest. 
  

  It's been about two months so far.
  

  I have asked for, and requested a written response to my inquiries (which were in writing) but I haven't received a written response yet..
  

  We are talking about $10,105.00 if my math is correct and I know what I am talking about!

  The fact that I cant get a written answer makes me very suspicious.

  Will you please help me with this?

   

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

   

• Initial Complaint

  Date:05/15/2023

  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 have sent the proper notarized Wells Fargo forms, an official death certificate, notarized court certificates of voluntary certification of administration from the NYS surrogate courts to have my mom’s bank account closed and her money transferred into her estate account so I can settle her estate. I had the documents tracked and physically and signed for. Two weeks later, the Wells Fargo estate center says I have to call back later and they have to find my mail in the mail room. This is the second time they say they have no record of receiving my court documents. They won’t release my mom’s accounts???

  Business Response

  Date: 05/31/2023

  Dear ******** * ******:
  Thank you for your patience while we looked into your concerns. We’ve completed our research and are ready to share our
  findings.
  Service apology
  We’re sorry for any service concerns you may have experienced. We strive to provide exceptional service, and it’s
  disappointing to learn we didn’t meet this expectation. We’re constantly reviewing and revising our practices and
  procedures to improve the customer’s experience, and we appreciate any input that helps us do this.
  What you need to know
  We understand your notification of the passing **** * ****, and Wells Fargo send our condolences. We apologize greatly
  for the experience; you have dealt with ****ling the estate matters. Are records show the accounts below were closed:
  ? Wells Fargo Crown Classic Banking® ending in **** opened September 1, 2004, and closed July 12, 2022.
  ? Wells Fargo Money Market Savings ending in 3416 opened April 8, 2005, and closed May 16, 2023.
  ? Wells Fargo Way2Save® Savings ending in **** Opened March 19, 2010, and closed February 10, 2021.
  ? Wells Fargo Way2Save® Savings ending in 7100 opened July 20, 2009, and closed June 27, 2022.
  Our records indicate that we received the request for closure of the Wells Fargo Money Market Savings Account ending in
  3416 on May 15, 2023. The request to have the funds sent as domestic wire transfer, to the Trustco Bank Account ending
  in **** was completed on May 16, 2023, in the amount of $8,111.92. The timeframe for domestic wire transfer is 2-3
  business days processing.
  For additional assistance or questions, please contact the Estate Care Center at ###-###-####, Monday - Friday, 8:00
  a.m. to 8:30 p.m. and Saturday, 9:00 a.m. to 3:00 p.m. Eastern Time.
  Additional information
  We determined this was processed in a timely manner as October 3, 2022, Wells Fargo received a death certification but
  no legal documents that were needed. On February 6, 2023, we received notification you were trying to claim your
  mother’s account for estate and had letters sent. February 7, 2023, Wells Fargo reconfirmed outgoing communication to
  you and letters and emails. We then obtained communication May 4, 2023, that you wanted to be contacted when
  2
  documents were received. May 8, 2023, you advised you are sending in a certificate of voluntary administration. On May
  15, 2023, Wells Fargo received the documents needed, and located missing documents you sent in February of 2023. On
  May 16, 2023, as referenced above, the wire transfer was approved.
  How to contact us
  We appreciate your time and effort you took to contact us. If you have questions, please contact us at ###-###-####,
  ext *****. We’re ready to help you Monday through Friday from 8:00 a.m. to 5:00 p.m. Central Time. We accept
  telecommunications relay service calls.
  If you have a problem reading any attachment to this communication (if applicable), please reach out to me as indicated
  above for assistance.
  Sincerely,
  ***** ** ********* ****** **** ********** ********** ********** ********** ******

• Initial Complaint

  Date:05/12/2023

  Type:Customer Service 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.

  This is in regards to the estate of ************************* and ***************************: I have been trying for months to just get a status on an estate account transfer. Basically I'm told it's in process every time I call. I've gotten denials. I've been told that my form was filled out incorrectly, even though the form does not have spaces for the information they are requesting from me. I was told they did not have my phone number so they don't call me. I went back to Wells Fargo bank and was told that the phone numbers were in fact faxed over to them. Every time I call I get a different answer and I'm told that the people who are processing this transaction will not talk to the customer. I have complained to their customer complaint department and they tell me the same that the people will not talk to them either. The story keeps changing and/or every time I call the information they're giving me is incorrect. They don't seem to keep track of all my previous calls because it seems like I'm starting at square one every time I call.They are either totally mismanaged, incompetant or illegally holding onto my securities (or all of the mentioned).I want to know why they won't release the securities to my brokerage account.Thank-You.

  Business Response

  Date: 05/25/2023

  Please see attached bank response; enclosures have been forward to the customer. 

  Customer Answer

  Date: 05/30/2023

  Complaint: 20053690
  
  I am rejecting this response because:
  

  After 4 months and countless calls, emails, and getting several agencies involved, three siblings received their transfers.  As the Personal Representative of my parents, estate I should also receive statements confirming how these funds were dispersed and any remaining funds in the estate account.
  
  
  Sincerely,
  
  ***********************

  Business Response

  Date: 06/13/2023

  Dear Estate of ************************* and ***************************:
  Thank you for your patience while we looked into your concerns. Weve completed our research and are ready to
  share our findings.
  Were sorry for any service concerns you may have experienced. We strive to provide exceptional service, and its
  disappointing to learn we didnt meet this expectation. Were constantly reviewing and revising our practices and
  procedures to improve the customers experience, and we appreciate any input that helps us do this.
  What you need to know
  We have reviewed your Estate Wells Fargo Everyday Checking account ending in ****. We understand you would
  like documentation regarding the activity of this account and have enclosed a copy of your statements dated
  March 15, 2023, through May 15, 2023. We were unable to reach you to gain more clarity. We ask if you are able to
  provide further information regarding what transfers being dispersed among individuals as the account as an
  ending balance of $35,912.54 as of June 7, 2023, in the estate account.
  For any questions please contact our **************** at **************. Representatives are available 24
  hours a day, 7 days a week.
  How to contact us
  We appreciate your time and effort you took to contact us. If you have questions, please contact us at
  *************************. Were ready to help you Monday through Friday from 8:00 a.m. to 5:00 p.m. Central
  Time. We accept telecommunications relay service calls.
  Sincerely,
  **************

  Customer Answer

  Date: 06/17/2023

  Complaint: 20053690
  
  I am rejecting this response because:

  The account I am referring to is a *** BROKERAGE ACCT ends in -1727.    If you looked at our call history to your customer complaint department --that should be on your records that we called numerous times since January 2023.

  I would like a statement that shows what securities were sold and at what cost basis and how they were divided up.  Were there any fractional shares?  Not all of the account was distributed, so would like to know what portions remain and to whom they belong???

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

  Business Response

  Date: 07/05/2023

  Please see the attached Bank response. 

  Enterprise ********************* Office
  PO Box 5133
  ***********, ** 57117
  
  
  
  
  
  July 5, 2023
  
  
  
  ***********************
  3920 ***************.
  ********, ** *****
  
  
  
  
  Subject: Were responding to your concerns
  Case number: 06202306201671179
  Account number ending in: ****
  **********************, case number: 20053690
  Client name: ************************** & **************************** Joint Tenants with Rights of Survivorship
  
  Dear ***********************:
  
  Thank you for your patience while we looked into your concerns, as expressed to the Better Business Bureau on
  May 12, 2023. Weve completed our research and are ready to share our findings.
  
  Please allow us to begin by, again, offering our sincerest apologies for any poor service you may have received
  during your interaction with our service center personnel, as well as the inconvenience and frustration you
  experienced with the estate claim process. We appreciate the time you have taken to share your concerns, as they
  are invaluable in assessing our service levels and for identifying areas where we can initiate improvements. Your
  feedback is extremely important to us and we want to assure you that we will utilize this information as an
  opportunity to enhance our abilities to best assist our clients with their financial needs.
  
  As per our conversation, during our call on June 21, 2023, we can confirm that your estates claim has been
  completed, as of May 23, 2023, with you having received 25% of the accounts assets. These assets were sent to
  your external account, as per your Transfer on Death (***) instructions.
  
  Additionally, in accordance with your request during our aforementioned call, we have acquired the Cost Basis
  information for the account ending in ****, for both its current positions and transferred positions. We have also
  taken the liberty of including the accounts most recent two statements, which should contain additional, cash-
  related, information that you had indicated you may be in need of as well.
  
  
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  Not Insured by the **** or ********************** Agency
  by Wells Fargo Clearing Services, LLC, Member
  Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Affiliate
  SIPC, a registered broker-dealer and non-bank
  Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and how we use it, see the Wells Fargo
  California Consumer Privacy Act Notice at Collection at ********************************************************************************************************. See additional Wells Fargo privacy notices at
  ******************************************************************************.
  
  2021 Wells Fargo Advisors, LLC. All rights reserved.
  ECMO BT173_Res_M_E_122021
  For additional questions regarding your account, please contact our WellsTrade representatives at
  1-800-TRADERS ***************). They are available Monday through Friday, 7:00 a.m. to 11:00 p.m. Central
  Time.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  us at ****************************. Were ready to help you Monday through Friday from 8:00 a.m. to 5:00 p.m.
  Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  **************
  Executive Office Case Specialist
  Enterprise ********************* Office
  
  Enclosure
  cc: Better Business Bureau
  

  
  

  Customer Answer

  Date: 07/10/2023

  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:05/05/2023

  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.

  I have been helping my mother attempt to claim my deceased father's *************** with Wells Fargo Advisors. They refused to pay it out in a lump sum even though she is the designated spousal beneficiary on the account. So, she set up a *************** with another company (SEI) because they said she could only have the assets transferred to her own ***************. She submitted all of the paperwork and the company she has the *************** with sent transfer paperwork through ACAT. When Wells Fargo rejected that, SEI faxed everything manually. Then when we called Estate processing after that, they said SEI needed to resubmit ACAT. SEI did that and they still haven't transferred the money. Now when I call, I can't even get through on the phone.

  Business Response

  Date: 05/18/2023

  Please see the attached Bank response. 

  Dear ***************************:  Thank you for your patience while we looked into the concerns expressed to the Better Business Bureau on May 5, 2023, by *********************, regarding the beneficiary claim for the account of ******************************. Weve completed our research and are ready to share our findings.  First and foremost, please allow ** to apologize for any frustration or inconvenience the processing of the Estate of ****************************** may have caused. Wells Fargo Advisors strives to provide our clients with the most outstanding customer service, and we sincerely regret that your experience has fallen short of your expectations, especially during such a difficult time. We regret that you did not receive our best throughout this process.  Please allow ** to also apologize for the lengthy hold times, we regularly evaluate our staffing needs to ensure that we provide the consistent high level of service and professional advice you expect from **.  As stated during our conversation on May 9, 2023, you may reach me directly at ****************************. I am available Monday through Friday from 10:30 a.m. to 7:00 p.m. Eastern Time.   We confirmed with our operations department that the restriction on the account was lifted on April 10, 2023. Email notifications were sent to the *** transfer department stating that the restriction was lifted and the account is ready to be transferred out on April 10, 2023, May 3, 2023 and May 11, 2023. We verified with our operations department that we have not received a new request for transfer, nor have any transactions been rejected since April 10, 2023. Due to their privacy policy, we cannot guarantee that *** will respond directly to Wells Fargo Advisors and suggest you reach out to them for further information on the status of the transfer. 

  Customer Answer

  Date: 05/20/2023

  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. The account was finally transferred as we had requested. It shouldn't have taken a complaint to Better Business Bureau to get the problem resolved but I am satisfied with the resolution. 
  
  Sincerely,
  
  *********************

• Initial Complaint

  Date:05/05/2023

  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.

  I have been trying to receive benefits from an IRA account from Wells Fargo Estate Processing for the last 2 months since my father had passed away. To boot, my father tried to receive the benefits for the same account in October of 2022.
  They have not closed my fathers attempts out yet so his email is notified regarding forms he has sent in, instead of my email regarding the forms i have sent in.
  I don't think this is at all complicated and honestly think Wells Fargo is purposefully keeping the funds.
  It appears that this department is either understaffed, on hold for literally hours at a time, or they just do not want to disburse owed benefits.
  I am seeking original benefits paid within 1 week, they have all required paperwork.
  I am seeking paid interest of at least 4.15% from 9/24/22 to present, as if the funds had been transferred in a timely manner, they would have received such interest.
  I am also seeking an hourly rate for which i have sat on hold for hours. Phone records to prove it.
  This level of care is not acceptable. I hope people realize that their loved ones will have to fight and spend their valuable time to retrieve benefits after death. Wells Fargo wants to keep your money, not dispense the benefit.
  I have a complaint with wells fargo, now the better business bureau and unfortunately feel i will have to hire counsel to represent me and my family in matter. My time and patience is running out.

  Business Response

  Date: 07/11/2023

  Enterprise Complaints Management Office
  ** *** **** ***** ****** ** ***** **** *** ****
  ******* ******
  *** ******** ****
  *********** ** *****
  
  Subject: We’re responding to your concerns
  Case number: ****************** ****************** *****************
  Account number ending in: ****
  Better Business Bureau, case number: ********
  Client Name: **** ** ******
  
  Dear ******* ******:
  
  
  We’re sorry to hear about the passing of **** ******. We realize this can be a difficult time. Thank you for
  contacting us with your concerns. We’ve looked into it for you and are ready to share our findings.
  
  We are sorry for the displeasure you experienced while attempting to complete the estate process for **** ******’s
  Wells Fargo Advisors brokerage account, and that you felt Wells Fargo is purposefully withholding the funds from
  ****’s account. We have reviewed the request and confirmed, the L-8 tax form we received for **** was missing the
  account number in Section 5, and the date of the notary signature. It will be necessary for these corrections to be
  completed and returned to us before we are able to proceed with your request. Please note, we will not accept
  edits to a notarized document. A new document will need to be submitted. If you have any further questions or
  want clarifications on what we will need for ****’s L-8 form please contact our Wells Fargo Advisors estates team
  at ###-###-####, Monday through Friday, 9:00 a.m. to 7:00 p.m. Central Time.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  us at ###-###-####. We’re ready to help you Monday through Friday from 8:00 a.m. to 5:00 p.m.
  Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  
  ********** ******** *** ******** *** *******
  ********** *** ********* ******** ****
  ******* ***** ***** ********* * ***** **** ****
  * *** ******* ** *** **** ** *** ******* ********** ******
  ** ***** ***** ******** ********* **** ******
  * *** * ******* ** ***** ********** *** ** ********** *** *** **** ** *** **** *********
  ***** * ********** ************* *** ********
  * ******* ** ********** ****** ********* ******** **** ** *** ********* ****** ********
  ********* ** ***** ***** * ********
  
  ** *** ******* ******** **** ** **** ** *** ********* ********** ******** *** *** ********** ** ******** **** **** ***** ***** *** ******* *** *** ** *** *** *** *** ***** *****
  ********** ******** ******* *** ****** ** ********** ** ***************** *** ********** ***** ***** ******* ******* **
  *****************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  ***** **
  ********* ****** **** **********
  ********** ********** ********** ******
  
  *** ****** ******** ******