The fact that I can choose the funds I invest in from multiple fund providers offers me flexibility you don't normally find with other retirement plan platforms. I can't recommend Professional Capital Services any higher.
Good luck to anyone dealing with this company..... you're gonna need it
The company is very disappointing. I went through their process of getting funds distributed to me. After waiting well beyond the time I was told to receive them, I looked into the matter and learned that they distributed my funds into some random individual s checking account. I m not sure what s going on at this place, but I expected more responsiveness to this matter and a more reasonable solution than false assurances.
Company is awful. They charge exorbitant fees to disperse 401-K to IRA. They also have a terrible phone system that drops out calls. I had to call over 8 times and finally through my plan administrator to speak to someone. Still waiting on my dispersement. We'll see if it shows up correctly. Bottom line, this place is a scam and completely unprofessional.
My job was acquired and we are all trying to transfer our 401ks. PCS sent the checks and failed to send the disbersement or qualifying letters so our checks can't be transfered into new accounts. Additionally, they waited over a month to put the last funds into our accounts and are charging an extra $45 (we already paid $75) for the rest of our money. :(
We left PCS after a few years of bad experiences, lack of urgency and accuracy when it comes to regulated filing... frequent record keeping errors. During the deconversation dividends hit, it is like pulling teeth to get complete information for transfer. No body would want to deconvert from PCS based on the way they have been acting, the record transfer process has been extremely unprofessional.
Additionally- their website says that they have 100% customer satisfaction. Clearly- they have not looked at their google ratings.
I left the company I worked for whom used PCS for their 401K accounts. It took over a month for them to finally send out my checks. When they did it was supposed to be overnighted to me and it wasn t.
While the customer service people were very friendly and tried their best to assist me it grew tiresome calling dozens of times try to get my distribution done.
I haven t received it yet though I was informed it was in the mail from several days ago. My call yesterday resulted in an emergency escalation where I was to receive a call within 24hrs and it didn t happen.
I haven t dealt with too many 401K companies but I would assume that distributions are something that should be one of the things they are used to doing.
The more I think about it the more annoyed I get.
My advice to anyone who uses them would be to not expect your funds in a reasonable amount of time and be prepared to call repeatedly. I would be frightened if I were to need money from them when I retired. I might have died before I ever received the check.
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