Investors Bank

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Address: 437 Park Ave, Scotch Plains, NJ 07076, USA

Phone: (908) 322-5696

Website

State: New Jersey

Zip Code: 07076

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Reviews

If I could give a 0 star, I would. I have been trying to transfer an annuity since November of 2023. I called customer service, asked them to update my contact information and let me know how to go process the transfer. They continued to send documentation to my email from a former employer. Called again, asked them to update and after a week had to call AGAIN. Once they updated the email, they sent forms to transfer the funds. I completed them and sent them off. I had to follow up weeks later, not having heard from them. Oh sorry, we sent you the wrong forms. Finally got that straightened out, received the correct forms and had my financial advisor complete their portion of the forms. No word for weeks. Called AGAIN. Oh, yes, all your forms are in order. Now you have to have your financial planner call us. No email communication through the entire process as to next steps, NOTHING. Lovely call center in Bethlehem PA that keeps repeating, I understand, I understand. No. I don't think you do. THE WORST.

Customer service completely unhelpful- they lie to you as well.  My husband and I each set up Roth IRA accounts in 2018 with a monthly ACH set up to deposit into them. Our financial advisor told us to ignore them for the first few years as we are young and had them set up at high risk- and he didn’t want the big changes early on to freak us out.  We did that. And in early 2022 when I went to check on our accounts, I learned that 5 years of my husband’s investment money had been sitting in purgatory, never invested. We had been charged an annual maintenance fee despite the total lack of attention to his investment funds.  We have never pulled our money so fast out of any account. We filed complaints with the SEC and multiple other agencies.  Park Avenue Securities is inattentive. Don’t trust them with your money or your future.

Did you know that if you have less then $250k with Park Ave Securities, sending you paperwork by mail is environmentally bad?  To prove their point, they even sent the same letter twice so that I would receive two on the same day!  But wait - there's more!  You can also have a valid account number and Park Ave Securities' website validation will reject it!  Don't worry if it happens though, you can always call and talk to a rude support person [that doesn't actually have the desire or capability to actually help you] and confirm said account number is, in fact, correct.  Instead, just sit in limbo and let them send you multiple copies of their communications at $3/ea starting in Oct 2021.  Well, at least until you get more then $250k in which your paperwork suddenly becomes carbon neutral yeah science!!.

STAY AWAY. Unfortunately, there is no minus star rating. Although I can comment based only on my "adviser" it's apparent that there is no oversight of this person by his superiors. I will only say avoid the initials T.K.  PROTECT YOURSELF, STAY AWAY.

Good experience. No complaints. Use them as my broker dealer through my financial advisor

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