Complaint Review:
Wells Fargo Advisors
Wells Fargo Advisors Excessive Fees and ripoff of the little guy. St.Louis, Missouri
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One North Jefferson Ave
St.Louis, Missouri
United States of America
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800-603-1584
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I have only a small account of stocks with Wells Fargo. The balance is $747. They are now charging me $85 a year to manage this huge amount of money. Apparently the fee is usually only $60 but since I have LESS than $10,000 they can charge me an extra $25 for a total of $85 a year. So any dividends I might earn they take, and if I want to sell the stock now they will be taking 33% of my investment due to fees. Do not do business with them. I called and spoke with the complaint department and they said there is nothing they can do. The fees can not be removed and will continue to be applied each year. Although this is not a huge amount of money, the principle is the same. They are taking peoples money unfairly. Where I work we use what is called service recovery to resolve the issue and retain the customer. One unhappy customer tells 11 people about the bad service and those eleven people tell 5 more people. I guess they don't care because they are big business and they have all the money. PLEASE DO NOT DO BUSINESS WITH THEM.