Complaints

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• Initial Complaint

  Date:10/04/2023

  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.

  TreeceCo in *******, ** handled four annuities/IRAs that were owned by my now deceased step-father. Three of the four accounts have my mother/his widow as the beneficiary. In April of this year my step-father and his nephew meet w/ **** Treece/Owner of Company and my step-father requested Treece change the beneficiary on the remaining annuity to my mother. After my step-father's death in July we learned this change of beneficiary was never done. We have spoken to and emailed ***************************** who works w/ Treece, several times. Her explanation was that the "form" was misplaced and never sent in. We have repeatedly asked her for a copy of this form and for a copy to be sent to the company handling the annuity and she has done neither. At this point both Treece and ********* have refused to respond to our correspondence. Treece has refused to talk with us about the issue. We believe at this point the "form" either never existed or they have lost it. To add "insult to injury" my mother still has an annuity with this company although we are in the process of transferring it to a reputable financial company.

  Business Response

  Date: 11/13/2023

  Mr. *********************** has been a client of TreeceCo Financial since 2006.  Unfortunately, **************** passed away on July 23, 2023.  During a meeting with his family on August 15, 2023 we realized that a beneficiary change request that was made by **************** on April 4, 2023 was either never processed by a former employee or was never received and processed at American Equity. 

  After making this discovery in August our team quickly reached out to American Equity's legal team to see what needed to be done.  Notes from the April meeting and the signed beneficiary change request was sent to American Equity and we were told that it would take 4-6 weeks for ************** to review the documents and make a decision.  We communicated this information with the family of **************** on several occasions.  We continued to follow up with American Equity every week for  updates and was told in October that all communications would now take place directly with the family.  

  It is my understanding that American Equity has other concerns with this issue and the family members involved so TreeceCo was taken out of the circle of communication.