Equitable Advisors

Reviews

• MR

  MacKenzie Dreeszen Rutter

  6 days ago
  1.0
  Extremely frustrating experience. I spent nearly a year trying to complete a very simple 403(b) rollover, and the biggest problem wasn't the transaction itself. It was the complete lack of clear guidance, communication, and follow-up. The paperwork involved was unnecessarily complicated, and whenever I had questions, I struggled to get a clear explanation of what I was actually supposed to complete, where it needed to go, or what needed to happen next. I repeatedly contacted representatives for help, only to be given partial or confusing instructions that left me trying to piece the process together myself. Even more frustrating was the lack of follow-up. I was repeatedly left with the impression that the necessary paperwork had been submitted and that the transaction was being handled, only to discover later that something had not actually been received or processed. Nobody seemed to take responsibility for following the transaction through to completion. This was not a complicated or particularly large transaction. It was a rollover of a few hundred dollars from an old 403(b) into an existing Roth IRA. It took almost a year, multiple phone calls, multiple rounds of paperwork, and ultimately me having to track down the necessary forms and figure out the process myself. I have worked in financial services myself, and one of the most basic responsibilities when helping a client with a transaction is to follow up and make sure the transaction actually gets completed. That was completely lacking here. I am finally hopeful that the rollover is now actually being processed, but the fact that I had to essentially become my own case manager to get a straightforward transaction completed is incredibly disappointing. Companies handling people's retirement accounts should be able to explain their processes clearly, answer reasonable questions, communicate when something is missing, and follow up until a transaction is actually complete. My experience fell far short of that standard.