This response is to update the file on the conversation I had with [redacted] last night, and to document the action that was taken concerning her outstanding refund The delay in processing was due to an internal communication error that I made the night I was leaving on vacation I didn't realize the refund wasn't processed until I came back and saw her update to the file Upon seeing that news, I escalated the request to our accounting manager immediately He processed the refund on the spot I also called [redacted] to apologize for the delay, and to take responsibility for the fact that I dropped the ball and that I wasn't unavailable when she called in to ask about it The attached refund confirmation email was sent to [redacted] last night, but she should allow a few more business days to pass before expecting to see the refund posted back to her account
I've reviewed the complaint and the customer's account, and I reached out to [redacted] to schedule a phone call on Tuesday afternoonWill update this file once we've been able to meet and discuss options for resolving her concernBest Regards, Jim S*Director, Client Services*** I [redacted] @guidantfinancial.com
Mr [redacted] and I had the chance to speak about his complaint in some detail today I explained that our primary interest is in helping Mr [redacted] close out the 401(k) plan for which he is Plan Sponsor and Trustee, and to do so in a way that ensures compliance with [redacted] and [redacted] requirements While there is still work to be done before his 401(k) plan can be properly terminated, Guidant has agreed to stop billing for Recordkeeping services through 12/31/2016, and to refund the November Recordkeeping charge The plan termination process is essentially stopped while we await some very important information from Mr [redacted] and/or his CPA As this work is essentially forensic accounting, there is always a chance that these new documents could lead to additional questions or supporting documentation requests Alex W [redacted] is the Guidant specialist assigned this account until the work is completed If the plan termination hasn't been completed by 12/31/2016, we would then have a conversation with Mr [redacted] about what still needs to get done, what kind of risks might exist, and how we should proceed for Next Steps: Mr [redacted] is going to look into his documentation of a few transactions (QES buyback by Corp from Plan, disposition of plan assets after Corp bought back the stock, the Board Resolution approving the buyback, etc), and is going to get back in touch with Guidant about those items Best Regards, Jim S [redacted] Director, Client Services xI [redacted] guidantfinancial.com
Thank you for your call today, [redacted] , and for helping me get the following to you: I'd like the complaint to be reopened for three reasons:1) [redacted] did not address that the wording "such as filing fees, expedite fees, and postage costs " in no way implies man hour cost Relabeling it "in-house fees associated with processing the contract" still remains in a very different category than the examples given in the contract.2) [redacted] states, "The Pension Recordkeeping Agreement is only sent after our client has completed the entity creation stage (EINs), as it is not part of the original ROBS transaction [redacted] paid Guidant for." However, this agreement was sent to me by Guidant and I did ask to be able to review all contracts I'd be requested to sign at the beginning of the process, before I signed any This particular technicality should have been explained to me at that time Also, although he refers to their Recordkeeping service as "optional" in his correspondence, the idea of being without it is presented to clients as extremely scary 3) (Technically this is a new complaint) I haven't received the partial refund of $he offered
I reviewed Ms [redacted] 's complaint and agreed that she waited too long for a response to her inquiry of 11/2, and subsequent follow-ups Root cause: An internal routing process was not followed while a client services representative was away on vacation Per Ms [redacted] 's request, I approved a full refund of the November service charge and confirmed that the ongoing billing is discontinued as of November Ms [redacted] was not charged for December, even though we are still working on the file and are still providing the Audit Protection Guarantee for the Plan We are making every effort to complete the required reporting, testing and compliance review before the end of 2016, but that timing will ultimately be dictated by the 401(k) plan financial reconciliation and Reporting-Testing results Ms [redacted] and I have already discussed the particulars as summarized here, and I believe we have resolved her complaint at this time Best Regards, Jim S [redacted] Director, Client Services [redacted] I [redacted] @guidantfinancial.com
I have reviewed the complaint and all of the associated notes in our file I've contacted the client to request a phone meeting, in order that we can identify the blocking issues and come up with a solution I will update this record as soon as we've held the call and agreed on the best course of action Best Regards, Jim S*Director, Client Services [redacted] ***[redacted] @guidantfinancial.com
This response is to update the file on the conversation I had with [redacted] last night, and to document the action that was taken concerning her outstanding refund The delay in processing was due to an internal communication error that I made the night I was leaving on vacation I didn't realize the refund wasn't processed until I came back and saw her update to the file Upon seeing that news, I escalated the request to our accounting manager immediately He processed the refund on the spot I also called [redacted] to apologize for the delay, and to take responsibility for the fact that I dropped the ball and that I wasn't unavailable when she called in to ask about it The attached refund confirmation email was sent to [redacted] last night, but she should allow a few more business days to pass before expecting to see the refund posted back to her account
I've reviewed the complaint and the customer's account, and I reached out to [redacted] to schedule a phone call on Tuesday afternoonWill update this file once we've been able to meet and discuss options for resolving her concernBest Regards, Jim S
*Director, Client Services*** I [redacted] @guidantfinancial.com
Mr [redacted] and I had the chance to speak about his complaint in some detail today I explained that our primary interest is in helping Mr [redacted] close out the 401(k) plan for which he is Plan Sponsor and Trustee, and to do so in a way that ensures compliance with [redacted] and [redacted] requirements While there is still work to be done before his 401(k) plan can be properly terminated, Guidant has agreed to stop billing for Recordkeeping services through 12/31/2016, and to refund the November Recordkeeping charge The plan termination process is essentially stopped while we await some very important information from Mr [redacted] and/or his CPA As this work is essentially forensic accounting, there is always a chance that these new documents could lead to additional questions or supporting documentation requests Alex W [redacted] is the Guidant specialist assigned this account until the work is completed If the plan termination hasn't been completed by 12/31/2016, we would then have a conversation with Mr [redacted] about what still needs to get done, what kind of risks might exist, and how we should proceed for Next Steps: Mr [redacted] is going to look into his documentation of a few transactions (QES buyback by Corp from Plan, disposition of plan assets after Corp bought back the stock, the Board Resolution approving the buyback, etc), and is going to get back in touch with Guidant about those items Best Regards, Jim S [redacted] Director, Client Services xI [redacted] guidantfinancial.com
Thank you for your call today, [redacted] , and for helping me get the following to you: I'd like the complaint to be reopened for three reasons:1) [redacted] did not address that the wording "such as filing fees, expedite fees, and postage costs " in no way implies man hour cost Relabeling it "in-house fees associated with processing the contract" still remains in a very different category than the examples given in the contract.2) [redacted] states, "The Pension Recordkeeping Agreement is only sent after our client has completed the entity creation stage (EINs), as it is not part of the original ROBS transaction [redacted] paid Guidant for." However, this agreement was sent to me by Guidant and I did ask to be able to review all contracts I'd be requested to sign at the beginning of the process, before I signed any This particular technicality should have been explained to me at that time Also, although he refers to their Recordkeeping service as "optional" in his correspondence, the idea of being without it is presented to clients as extremely scary 3) (Technically this is a new complaint) I haven't received the partial refund of $he offered
I reviewed Ms [redacted] 's complaint and agreed that she waited too long for a response to her inquiry of 11/2, and subsequent follow-ups Root cause: An internal routing process was not followed while a client services representative was away on vacation Per Ms [redacted] 's request, I approved a full refund of the November service charge and confirmed that the ongoing billing is discontinued as of November Ms [redacted] was not charged for December, even though we are still working on the file and are still providing the Audit Protection Guarantee for the Plan We are making every effort to complete the required reporting, testing and compliance review before the end of 2016, but that timing will ultimately be dictated by the 401(k) plan financial reconciliation and Reporting-Testing results Ms [redacted] and I have already discussed the particulars as summarized here, and I believe we have resolved her complaint at this time Best Regards, Jim S [redacted] Director, Client Services [redacted] I [redacted] @guidantfinancial.com
I have reviewed the complaint and all of the associated notes in our file I've contacted the client to request a phone meeting, in order that we can identify the blocking issues and come up with a solution I will update this record as soon as we've held the call and agreed on the best course of action Best Regards, Jim S
*Director, Client Services [redacted] ***[redacted] @guidantfinancial.com