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Business Profile

Retirement Planning Services

Ascensus

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Retirement Planning Services.

Complaints

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

Find a Location

Ascensus has 14 locations, listed below.

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

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    • Ascensus

      200 Dryden Rd E Dresher, PA 19025-1044

    • Ascensus

      4999 Louise Dr Ste 205 Rossmoyne Corporate Center Mechanicsburg, PA 17055-6907

    • Ascensus

      4135 N Front St Harrisburg, PA 17110-1616

    • Ascensus Inc

      404 Camino del Rio S Ste 608 San Diego, CA 92108-3556

    • Ascensus Inc

      5832 Bolsa Ave Ste 100 Huntingtn Bch, CA 92649-1181

    Customer Complaints Summary

    • 78 total complaints in the last 3 years.
    • 47 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:02/13/2023

      Type:Billing Issues
      Status:
      Unanswered
      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 distribution of my retirement account from them. They took 20% of my distribution for federal taxes. After citing the CARES act which states I am not required to pay a fee for distribution and that I did not wish to pay taxes as this money was being transferred to an IRA, they proceeded to refuse. They're condescending in their emails. They have also cut my check for less than the amount that was in the account. I will pay the taxes myself at tax time. Distribute my funds to me.

    • Initial Complaint

      Date:02/03/2023

      Type:Service or Repair Issues
      Status:
      Unanswered
      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 was working for a business that used Ascensus for the 401k Plan regulation. In May of 2021 the owner of the business passed away suddenly. I left the business in January of 2022, the business sold in March of 2022. It has been over a year and Ascensus has not transferred my 401k funds to my new job. All the paperwork was completed in July of 2022. No response to emails/calls. This company has been a disaster to work with.

    • Initial Complaint

      Date:01/10/2023

      Type:Order Issues
      Status:
      Unanswered
      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.
      We have a SMALL retirement plan of less than $200. We just want to do a quick rollover to a Traditional IRA since the retirement plan has been decreasing over many years and it is just going down to nothing so it isn't fair. Now we went to roll it over and they are charting us $75 to do so! IF we had thousands of dollars, I would understand and a more fair way to charge a fee is a percentage. But this is close to HALF of the value of the amount and that just is NOT fair by any means. The company can waive fees but refused to help in any way. I had previously called to withdraw and no one advised of the fee, you can pull the calls. We are actually getting statements to our current address, but they claimed they didn't have the address on file. So we changed it and had to wait 2 weeks. I asked a Supervisor to call me back at that time and no one ever did. The company seems to make people jump through hoops for their money. This is fraud.

    • Initial Complaint

      Date:11/02/2022

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      The company was late to file Form 5500-EZ, which is required for my retirement plan. This resulted in a $500 fine from the IRS. The local San Diego branch of ****** **** tried to get corporate to cut a check to cover with $500, which they agreed they should pay since the late filing was their fault. When corporate would not or did not produce the check, the San Diego office asked me to make the payment and assured me I would be reimbursed once they received the check from corporate. My check to the IRS was cut on 8/24/2002 and I have been trying to get the San Diego office to repay me since then.

      Business Response

      Date: 12/28/2022

      Hi *******. I hope you are doing well. I am responding to the BBB Complaint ID: ******** ******* ********* per the attached.

       

      I am writing to confirm that our firm did reimburse The ********* ***** for $500. The check was issued on 11/2/22 and our records reflect the check was cashed on 11/7/22. Below is additional detail related to the payment made.

       

      Please let me know if you need anything else to resolve this matter.

       

    • Initial Complaint

      Date:09/06/2022

      Type:Service or Repair Issues
      Status:
      Unanswered
      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.
      Attempting to close out 401k. It has been in review for 18days with no update. It's hemorrhaging funds. When I finally got contact info sat on hold for a total of an hour only to leave a voicemail, after they're outbound message said they will call back as soon as possible. Call back about 4 hours after that just checking getting update and wasn't for him that they are call back window is 24 to 48 hours, during the hours most people are working. I just like to get an update from the company as to what the status is of closing out my account.

    • Initial Complaint

      Date:08/22/2022

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I left my employer in May and started the disbursement of my 401k forms and process in June. Future plan received and processed my disbursement forms at the end of July 2022 and told me they sent the check 8/02/2022. I still have not received my check they told me five to ten business days I waited even an extra day to receive it. I get tried calling the number and after about ten minutes on hold it always sends me to a voicemail and they never call back or answer I've sat in hold calling again and again for three days. So I emailed the distribution dept and they said they would put a stop on the check I have never received and would send out a check when the funds returned ? What does that mean then they said they will let me know when they send out another check that was last Thursday. I asked them in an email what they meant by when the funds return and asked them to please just send a check overnight via USPS no response and no check no email and no answer when I call I'm very very irritated and would like this resolved asap I have bills too and been waiting on my money for three months it would be nice to pay my rent up at least

    • Initial Complaint

      Date:07/19/2022

      Type:Service or Repair Issues
      Status:
      Unanswered
      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.
      In January of 2022 my employer started a new retirement plan and terminated the profit sharing plan with Ascensus. I was advised to roll my retirement over to an IRA. I have been attempting to do this for 6 months. I have filled out the proper forms and follow up with customer service often. They will not tell me why my money has not been rolled over to my IRA but only state they are waiting on the proper forms from every current and past employee. They also stated that it may take a very long time. Meanwhile nothing can be contributed to the fund and it is losing thousands of dollars. I should be able to roll my retirement over and choose how it is being invested in these unsteady times.

    • Initial Complaint

      Date:06/24/2022

      Type:Service or Repair Issues
      Status:
      Unanswered
      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 spoken to numerous people within this company and no one seems to have a clue as to what their doing. All I have tried to do is have a distribution request form filled out and send to the company in charge of my 401k. The incompetence of these employees is astounding, Im surprised they are able to breath on their own without assistance. Simply fill out the simple portion of the form I sent . Then submit it to a my 401k company and my funds can be released back to me. It will literally take 3 minutes and I cant even get a phone call that they have received my fax with the proper forms. This is ridiculous. If I owned a company that had the option of using these guys as a 3rd party administrator Id pass them up promptly.

    Ascensus is NOT a BBB Accredited Business.

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