Allan Zhang

Review of Millennium Trust Company

Like a bunch of other people who have left reviews...

Like a bunch of other people who have left reviews here, my 401k was rolled automatically to Millenium trust from Wells Fargo without ever notifying me after switching jobs.

So far working with Millenium trust has been a complete nightmare. After I discovered that my 401k was transfered to Millenium trust, I reached out to gain more information, but was told that my account was still being processed and to check back in two weeks.

Two weeks later, I checked in again to try and get access to my account to transfer the funds to Fidelity instead. I called the service number multiple times, the first time I was put on hold to which the "client service specialist" never returned. The second time I was told that they couldn't find my account. And the third and final time, I was told I needed to fill out paperwork to access my account because it was never received initially, even though I was never told any of this.

About a week later, I finally gained access to my account, not online but just given the account number, and I filled out the paperwork on both Fidelity's side and Millenium trust's side to compete the transfer, and I called both service lines to ensure that everything needed was completed. Fidelity completed their end of the transfer within a few days but Millenoum trust has yet to do anything it seems.

I was told that I needed to wait about 14 business days before the transfer would be complete, but 14 business days later it's still not done. I just called two days ago to check on the status and even though they had ready confirmed everything needed for the transfer was already complete a week ago, they once again changed their mind and notified me that they also needed more I information in regards to whether it would be transfered as cash or assets.

I doubt they would have ever even notified me of the problem if I had not reached out again. At this point it's been about 2 months since I initiated the transfer and it seems that Millenium trust is doing anything possible to prevent me from transferring my account. I plan on reaching out again soon to get the status of my transfer but I'm sure they will have another reason as to why they haven't completed their end and that I will need to wait another 14 business days.

I plan on filing a complaint with the state's attorney general if my transfer request is stalled or postponed again.