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Business Profile

Employee Benefit Plans

Blue Ridge Esop Assoc

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Employee Benefit Plans.

Complaints

Customer Complaints Summary

  • 2 total complaints in the last 3 years.
  • 1 complaint 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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:08/24/2024

    Type:Service or Repair Issues
    Status:
    Answered
    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.
    Esop distribution has become a nightmare. The check for disbursement was mailed by Reliance Trust with Blue Ridge managing account, on July 31st. It is now 25 days since it was mailed and has not arrived. I have tried working with them to cancel the check and have funds sent wire transfer or direct deposit instead and all they keep saying is it was mailed and must be a delay on ***** Check is for $3852.32 and was sent with no tracking what so ever. I am concerned check has been lost, stolen or never left Reliance Trust. Check number is ********. I have filed a lost mail claim with **** but they state since it was sent standard there really is no hope of finding it or tracking it. I feel like there is more to the picture that I can see such as holding onto funds to make interest or something else. I need someone to intervene for me as this has been a finger pointing game from all sides with no resolutions being offered what so ever. I know it's not mail delays as I have received letters from out of the country that were mailed a week after this check was supposedly mailed out. I am at a loss as to how to resolve this quickly and in a matter that satisfies all sides. Also ********* Is the company that I was employed at to gain the shares and they are saying the same thing. I have been in contact with ***************** at Blue Ridge who has told me same thins about it being a **** delay and that it was indeed mailed but that I needed to work through BRPH rather than dealing direct with Blue Ridge.

    Business Response

    Date: 09/09/2024

    ******************,
    We are sorry your distribution check was not delivered in the expected timeframe. Blue Ridge ESOP Associates strives to service our clients and participants in a timely fashion. We appreciate your position, and, unfortunately,your check that was initially issued on July 30, 2024, was not delivered by the ***** We have verified that your re-issued check was delivered by Fed-Ex on September 29, 2024, and we hope this resolves the issue.

    Sincerely,

    *************************, Blue Ridge ESOP Associates

  • Initial Complaint

    Date:02/28/2024

    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.
    ESOP Rollover I submitted a Distribution Election Form online in Nov 2023 to begin rolling over my ******** ******** ESOP funds being managed by Blue Ridge ESOP Associates to my private *** account. The specific information (Financial Institution, Account #, Address, Attn to) was provided in the form. Blue Ridge SUPPOSEDLY made a distribution by check in Dec 2023 but my private *** ********** company (Fiduciary Edge Advisors) never received a check from Blue Ridge even though all the mailing information was correct. I reported the non-distribution/receipt to Spectrum ******** Finance Director who requested re-distribution except to me personally at my home address. In spite of at least ten email communications with Spectrum ********, no new distribution has been made by Blue Ridge ESOP Associates. It's now been three months since I submitted the Distribution Election Form with no resolution in sight. I'm retiring soon and am trying to consolidate my retirement funds. Please help me push through Blue Ridge ESOP Associates' ZERO CLIENT SERVICE actions/reputation.

    Business Response

    Date: 03/05/2024

    Thank you for bringing this issue to our attention.   Providing our clients with a superior service experience through every interaction and transaction is the foundation of our culture and a mission our associates strive to meet every day.  We simply failed to deliver on this commitment in processing ********************** distribution request in accordance with our standards.  

    Prior to receiving the BBB notice, another request for reissue was made on 2/27/24 using a different transaction ID, and the reissued payment was mailed on 3/1/24.  We contacted ********************** to apologize for the delay and inconvenience caused and to inform her of the status of her payment.

    After further review, the cause of our failure was due to a setting in our system that had inadvertently marked this matter as resolved.  We have since corrected the issue and are reviewing our current process protocols to prevent this situation from re-occurring.

    Thank you again for bringing this issue to our attention.

    Customer Answer

    Date: 03/07/2024

    [A default letter is provided here which indicates your acceptance of the business's offer.  If you wish, you may update it before sending it.]

    Better Business Bureau:

    I have reviewed the offer made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: **********************************************.

    Regards,

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



Blue Ridge Esop Assoc is NOT a BBB Accredited Business.

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