- Report: #1296809
Complaint Review: iSelfDirect - Las Vegas Nevada
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Author Confirmed
Why?
iSelfDirect
5586 S. Ft. Apache Rd. Ste. 100 Las Vegas, 89148 Nevada, USA
Phone:
(702) 843-5423
Web:
www.iselfdirect.com
Categories:
Business Rating:
(0)
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iSelfDirect Tried to sell me a Solo 401k for 6 times the actual cost!!! Las Vegas Nevada
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I was contacted by Iselfdirect and was told that they were hired to help me eliminate my credit card debt from my new business and they wouldn’t ask me for any money. My coach was Brandon Turner and he told me that he was going to help me set up a Solo 401k for my business so I could save a lot of money on my credit card debt. The process makes sense but Mr. Turner then stated that they charge $2995 to set up the 401k plan.
I told Mr. Turner that I wanted to do my research and he began to get frustrated that I would want to check out what he was offering instead of agreeing right then and there. AM I GLAD I DID MY RESEARCH! Iselfdirect does not actually set up 401k plans. They use a different company called Provident Trust Group to build and hold the 401k plans.
Provident only charges $495 yearly with a $150 set up fee for the 401k plan. Mr. Turner offered the plan to me for $2995 for year one plus a $225 fee to set up the loan. Then moving forward it is $495 annually.
DO NOT use them to set up the plan! They are simply pocketing the extra $2500 and you can go do the 401k plan yourself without being scammed out of the inflated price that iselfdirect is trying to charge. When I asked him about it he got an attitude and hung up on me. That is all I needed to know about their sales practices and how legitimate they are. He also claimed he had investment licenses and I never saw any proof of that!
2 Updates & Rebuttals
Kate
Grants Pass,United States
Rebuttal
#2General Comment
Fri, June 15, 2018
Your "very many satisfied customers" are either idiots or they have not yet tried to get their money back that was invested in Provident Trust Group.
iSelfDirect
Las Vegas,Nevada,
USA
Setting the record straight
#3REBUTTAL Owner of company
Fri, September 09, 2016
Dear CAnderson,
While iSelfDirect staff does inform prospective clients that we don't ask for a credit card, or take fees of any kind by credit card we do not claim to not ever ask for a fee for our services. Not even nonprofit businesses can function and operate without some level of consideration for products and services.
Your post fails to mention that iSelfDirect staff provided you multiple financial education sessions in the which you were informed of the existence of the Solo 401k plan type, the plan features and benefits, the concept of self-directed plans and alternative asset custodian services available. We believe it's fair to say that we informed you of the services provided by trust companies such as Provident Trust Group. Therefore it seems your post is misleading in suggesting that looking into a company such as Provident was a result of independent research and not based directly upon information received by you during financial education sessions offered by iSelfDirect staff of which you had no knowledge prior to us providing the education.
We feel it quite unfair to claim that the concierge level service we provide to our clients in educating, informing, and giving personalized one on one assistance in compiling, completing, processing and submitting the extensive level of paperwork required to establish these types of retirement plans is a "scam" and not worthy of any financial consideration whatsoever as you suggest. While it is true that individuals may go through the process of establishing a Solo 401k directly with a trust company if they become aware of this option through a means other than through our financial education, we believe these individuals will not receive the same level of service we provide to ensure that a simple, smooth and headache free process with immediate access to a designated staff member at all during times during normal business hours.
Whether the value received for our fees are reasonable and fair could be a matter of debate as it could be with any service from a car wash to a tax return but again, to claim that iSelfDirect provides no value whatsoever and is a "scam" is not supported by a single element of fact or truth. We find it unfortunate that such false and malicious statements can be written on "the bathroom wall" of this comment board with no regard to vetting their validity or considering the harm such false statements can cause those who are so injured. We have a duty and obligation to our clients and staff to set the record straight in these instances.
Actual iSelfDirect client reviews can be found on.
https://www.trustpilot.com/review/iselfdirect.com
http://iselfdirect.com/about-us/solo-401k-testimonials/
As you can see, many clients have quite a different perspective than CAnderson and appreciate the service they received from iSelfDirect and feel the fees are justified for the value received.
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