• Report: #1131438

Complaint Review: PNC Investments

  • Submitted: Tue, March 18, 2014
  • Updated: Tue, March 18, 2014

  • Reported By: Louis Rondinella — Somers Point New Jersey
PNC Investments
PO Box 608 Somers Point, New Jersey USA

PNC Investments deceptively sold me a Unit Investemtn trust with guaranteed 5% return but it was not. Linwood New Jersey

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I was refered to PNC investments by PNC bank for investment advice on a large sum of money. I did not want the risk of the stock market and wanted reasonable interest 4-5% with low risk. They sold me a Unit investment trust that was supposed to give me a 5% tax free return. The trust ended up being no different that a volatile stock which dropped in value by 20% in a matter of months. They were not honest with their 5% guarentee on my money. Somehow the bankers have there definition of what a 5% return means. Despite all this money loss , PNC Investemnt gladly accepted their 5% commision. I would not recommend PNC Investments for your hard earned money. Next time I will try (((competitor's name redacted))). 

This report was posted on Ripoff Report on 03/18/2014 05:01 AM and is a permanent record located here: http://www.ripoffreport.com/r/PNC-Investments/Somers-Point-New-Jersey-08244/PNC-Investments-deceptively-sold-me-a-Unit-Investemtn-trust-with-guaranteed-5-return-but-1131438. 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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