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  • Report: #515757

Complaint Review: Prudential Investment

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  • Submitted: Tuesday, October 27, 2009
  • Last Posting: Wednesday, November 18, 2009
  • Reported By: Anonymous — Santa Barbara California USA
Prudential Investment
PO Box 5320 scranton Pennsylvania 18505-5320 United States of America

Prudential Investment Management Services, LLC Outrageous Retirement Maintenance Fees scranton, Pennsylvania

*Consumer Comment: Prudential Investment Management Raise fees without notification


1Author 2Consumer 0Employee/Owner

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I have had an employer sponsored 401(k) plan for over 14 years.  Prudential has never charged a maintenance fee but on Friday, 10/23/09, I received an invoice for $200.00 for a "2009 Retirement Maintenance Fee Invoice." 

There was no warning that they would be punishing a loyal customer of 14 years by sending this outrageous invoice.  In over 14 years, I have not withdrawn funds from this account and have been a loyal customer.  I did not shift money from one fund to another and should not be paying any maintenance fees on this account.

If any of you have accounts or insurance through Prudential, please close them immediately.  This company treats their customers of over 14 years like garbage.  Boycott Prudential!

This report was posted on Ripoff Report on 10/27/2009 2:36:40 PM and is a permanent record located here: http://www.ripoffreport.com/financial-services/prudential-investmen/prudential-investment-manageme-82446.htm.

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#1 Consumer Comment

Prudential Investment Management Raise fees without notification

AUTHOR: anonymous - (USA)

SUBMITTED: Wednesday, October 28, 2009

I am in the same situation. I have an Rollover IRA with Prudential for 6 years. Just received the same invoice. They said they have a new fee schedule, but this is not available from the online account. I guess I will never do any business with Prudential, whether it is bank, investment, or insurance. Boycott Prudential! Spread the word!

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#2 Consumer Comment

Prudential Investment Management Raise fees without notification

AUTHOR: anonymous - (United States of America)

SUBMITTED: Wednesday, November 18, 2009

I too received this invoice after several years of no fee service from Prudential.

I have an IRA rollover from a former employers 401K plan with them. I have made multiple calls requesting a copy of the fee schedule and argued that I never saw such a document which I was initially told mailed separately in March.

As of today, I learned that it was included with the March statement, but when I checked the online version of this document, there is only a small side note mentioning revised fees, but no insert. I will call again to request a copy of the insert, as I would like to file a formal complaint.

For now, I am working on closing the account and transferring the funds to another institution for which there will be another $100 close out fee.

Prudential will never see another dime of my money.


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