Broad Financial

Wanted to start Self-Directed IRA and called them. The specilist was very rude and not answering the question I asked. Again I called the customer service, he was not even patient enough to listen what I want and transfered to someone. Terrible

I have been with Broad Financial for about 18 months now and was completely thrilled with their service they provided. I setup a Solo 401k account and even paid an expedited fee to receive my trust documents digitally. They helped me find a bank that understood how to setup a Trust Checking account based on the Trust Documents and made the process easy. I have also referred two other friends to Broad Financial for them to setup an account as well. I will say that not all accounts are as easy to setup as mine was but Jeff A[redacted] and Customer Service were there to help. Customer Service call backs could be quicker, but that's the worst I can say about them.

Review: Was working with Broad Financial to setup an IRA. During the sales process everything was amazing however as soon as I decided to proceed and paid them the customer service came to a complete halt. After complaining about the immediate termination of any service I was told that my expectations were out of line with what they offer.

As this was out of line with my expectations and with what I was promised I immediately cancelled. Out of my $495 fee they cancelled only $95. Additionally they charged me an additional $150 to close out the account.Desired Settlement: My point of writing this complaint is to hope that others will steer clear of Broad Financial. Additionally I'm looking for a refund of the $400 fee they charged me upfront and then the additional $150 they charged me to cancel. Others need to be advised that when dealing with Broad Financial the sales pitch is only that, a sales pitch and not a commitment to provide future services.

Business

Response:

The business has responded. Please see below:Business Response: Upon receipt of this complaint, our CEO immediately reached out to the client and discussed his concerns. As it turns out, there was a misunderstanding which we immediately rectified, and we also refunded the client the $550 that he requested. The client then rescinded his complaint. Consumer Response: [redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved:They responded asap, it was a misunderstanding and it is fully resolved.

Sincerely,

Review: I paid Broadfinancial a few weeks ago $495.00 for a self directed IRA (checkbook Ira) to be opened up. They were quick to take my money promising I could invest in stocks, bonds, real estate, tax liens, tax certificates, precious metals I could take possession of. As of date I cancelled the order since paperwork they faxed me could not be completed and asked for my refund. I still have not been contacted by concerning my refund. [redacted]Broad Financial, LLCCustomer Service Department[redacted]or [redacted] whom took the original $495.00 payment. I've sent several emails to return all of my personal paperwork and information they asked me for to set this checkbook ira up but have not been contacted back since even after several attempts. I went to a local bank and told them what happened and they tried to look them up on [redacted] and couldn't find them or the other company ([redacted] (###-###-####) of telling me anyone who collects money to start up things like this like a bank should be listed there. So here I am contacting you as it looks like I have been scammed. The self directed Ira was to have no fees, I am the trustee and custodian, and I can provide the paperwork showing this isn't true at all. I can also fax you the application I filled out but did not return backing up what I have said. I can provide emails of me trying to contact them with no response back. They promised me something that was false and all I want is my money back. I can provide the emails of their correspondence with me. Thank you [redacted]Desired Settlement: Refund on the credit card ending in 3330 I paid with.

Business

Response:

Re: Complaint ID [redacted]To Whom It May Concern: We have received correspondence from the Revdex.com dated April **, 2015 with regard to [redacted]. On 3/**/15 [redacted] signed up for an Ultimate IRA. He made an initial deposit of $495 via credit card on 3/**/15. Our company in turn sent him a Welcome Packet with forms to complete. [redacted] contacted us via email on 3/**/15 and 3/**/15 with questions and our company responded to both emails same-day. We had also reached out to [redacted] by phone.On the evening of 4/*/15, [redacted] contacted [redacted] in the Customer Service Department with additional questions. Unfortunately, [redacted] was out of the office from 4/*/15 to 4/**/15. [redacted] had an “auto response” email notifying clients of her absence and requesting that clients contact the main office with any concerns. [redacted] seemed to not have received the auto response email and sent subsequent emails on 4/*/15 and 4/*/15. The Secretaries at the Main Office do not recall receiving any phone calls from [redacted]. The client may have simply not received the “auto response” email, and assumed that the only recourse available was to contact the Revdex.com, instead of calling our office, or waiting for [redacted]’s return.[redacted] was concerned that Madison Trust Company, the IRA Custodian for the self-directed IRA, was not listed on FINRA (the Financial Industry Regulatory Authority). This organization regulates banking institutions which accept brokerage products. Madison Trust Company only accepts cash and Alternative Assets and is not involved in the brokerage arena nor do they claim to be. They are unable to accept brokerage products, and are therefore not listed on the FINRA website. Madison Trust Company is regulated by the South Dakota Banking Commission. We are sorry that our office did not receive any phone messages last week from [redacted] with regard to his concerns. We would have been happy to help him.We have refunded [redacted]’s credit card in full today. We would be happy to assist him in the future with establishing the Ultimate IRA, should he decide to do so.Should you have any further questions with regard to the above, please feel free to contact me. A copy of [redacted]'s Certificate of Authority and a copy of the refund receipt to [redacted] can be provided as well. All the best,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,