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WIA Consultants Inc.

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WIA Consultants Inc. Reviews (1)

Review: WIA was [redacted] of my retirement account through my employer [redacted]. I left the firm in September of 2012, and after a few months, decided to cash out my retirement account to fund the purchase of my first home. I was given contact information from my employer for Merrill Lynch, the broker of the account, and [redacted] from WIA. The process started in the first half of January 2013 when I reached out to [redacted] and Merrill Lynch to cash out the account. I stated the urgency of my request, but from the very beginning [redacted] was unresponsive for weeks at a time. She finally sent me the documents required to cash out the account, which I immediately signed and sent back. [redacted] confirmed receipt of the document and advised that no further action was required on my part. After two weeks and no check, I again reached out to [redacted] for an update. Just as before, no response. This money was urgently needed for the closing of my house, and after 2 more attempts, I decided to ask the other party on the email, Merrill, for assistance. They promptly responded and mailed a check the next week. The entire process took 3 frustrating months. I had not heard from anyone regarding this matter for over a year, when I received a letter in the mail advising the wrong amount had been paid out, and that I was facing IRS sanctions. Due to WIA's negligence and failure to send along my documentation, Merrill paid out the wrong monies and I was suddenly and unexpectedly required to pay back $3,906. Also, due to the delays in closing out my account, it turns out the account value depreciated roughly $500, which I also had to pay back. All of this could have been avoided had it not been for WIA's complete inability to respond to a client and track legal forms. Not only was [redacted] completely careless and uninvolved when it came to my money, she was never able to provide requested account forms at any time. Which leads me to believe her firm is not retaining legal forms as required.Desired Settlement: I would like to be reimbursed for the additional money I lost caused by the delays and negligence of WIA. This would be in the amount of around $500. I am not able to give the exact amount, since WIA cannot provide proper documentation to show how much the account was valued at on specified dates/months. As mentioned, in effort to avoid IRS penalties and make my former employer whole I have, as of today 10.**.13, paid Merrill Lynch back the full amount of $3906.00.

Consumer

Response:

At this time, I have been contacted directly by WIA Consultants Inc. regarding complaint ID [redacted], however my complaint has NOT been resolved because:

WIA consultants did contact me, but not in reference to the Revdex.com dispute. I inquired about the dispute and got a reply that the company had operated in a professional manner and within Revdex.com guidelines. No resolution was reached and I have decided to leave this in the hands of the Revdex.com.

Please let me know what the next step is.

Sincerely,

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Description: RETIREMENT PLANNING SERVICE, FINANCIAL CONSULTANTS - NO LICENSE REQUIRED

Address: 60 George Street, Babylon, New York, United States, 11702

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