- Report: #387614
Report - Rebuttal - Arbitrate
Complaint Review: First Regional Bank / Trust Administration Services Of Carlsbad, CA
First Regional Bank / Trust Administration Services Of Carlsbad, CA5950 La Place Court, Suite 160, Carlsbad, California U.S.A.
First Regional Bank / Trust Administration Services Exhorbitant Fees + Terrible Service = any competitor, a far better choice than TASC! Carlsbad California
*REBUTTAL Individual responds: Satisfied customer of First Regional Bank
*Consumer Comment: Rob Campbell of TASC (First Regional Bank) is the EXAMPLE of what customer service should be
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Trust Administration Services Co. (a subsidiary of First Regional Bank of Carlsbad, CA) is a self-directed IRA custodian which (like its peer group; Pensco, Entrust, Equity Trust Co., Guidant etc.) charges IRA customers fairly exhorbitant fees, in exchange for the ability to deploy one's IRA monies into a diverse group of asset classes (compared to most bank/brokerage firm IRA custodians); real estate, LLCs, limited partnerships, etc. No quarrel there....
BUT....one month after paying hundreds of dollars in such fees for both 1) their annual "asset management fee" (that is, I'd paid 11 months of such fees, in advance), and 2) their $100 "account termination fee", they cut the rollover check to the wrong financial institution, and I simply asked them (upon their receipt of the un-cashed, returned check) to re-cut it to the proper institution.
"Sure...", said Rob Campbell, their V.P. and Customer Service Supervisor; "...just as soon as you pay another $75 fee" !!!! I reminded Rob that I'd just paid several hundred dollars in such fees (most banks charge NOTHING to hold a custodial IRA, of course), including a year in advance, and he replied (something to the effect of), "thats water under the bridge, Mr. X...you want us to do something else for you, now...."
Yeah, re-cut a check, Rob, to correct your (TASC's) own clerical error....
These guys (as represented by Rob Campbell) are an unprofessional, unethical bunch of scumbags, and I will never do business with them again. I encourage everyone to check out their competitors, who can certainly be no worse than these losers.
Firstregionalbank (of SD, CA) sucks!
This report was posted on Ripoff Report on 11/03/2008 04:56 PM and is a permanent record located here: http://www.ripoffreport.com/r/First-Regional-Bank-Trust-Administration-Services-Of-Carlsbad-CA/Carlsbad-California-92008/First-Regional-Bank-Trust-Administration-Services-Exhorbitant-Fees-Terrible-Service--387614. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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