• Report: #1092708

Complaint Review: The Retirement Advantage

  • Submitted: Thu, October 17, 2013
  • Updated: Thu, October 17, 2013

  • Reported By: PIK Manufacturing INC — Saint Cloud Minnesota
The Retirement Advantage
47 Park Place, Suite 850, Appleton, WI 54914 Appleton, Wisconsin USA

The Retirement Advantage TRAtra401k.com Charged $512.50 for fees that were not disclosed Appleton Wisconsin

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The Retirement Advantage charged for fees that were not disclosed and for situations where we were not properly notified. The TRA notified us that we were being charged $300 for failure to provide them information needed to complete an IRS form. TRA never notified us that the information was due.

After complaining of the fee to the TRA, they refused to do anything about the situation. The representitive stated that they recently had an employee turnover at their office and that "things may have slipped through the cracks" but that it was not their problem we were not notified.

After bringing the issue to their attention again they promptly canceled our account and notified us that we would now be subject to IRS and/or department of labor fines because of this. I have spoke with other small business owners who have had similar situations with TRA and are looking for new providers. 

Today I opened another invoice from TRA for an additional $212.50. There was no explaination of the fee in the invoice only "services 10/2013-12/2013. They canceled our account in September so I'm not sure what these fees are for? TRA seems to make up fees when they feel like collecting money from you.

I would strongly caution any investment advisors and small business owners from dealing with this company. The Retirement Advantage (Appleton, Wi) may charge you unauthorized fees and if you refuse to pay the fees they will take the funds out of your 401k account. I will be consulting a lawyer to check the legality of this. 

This report was posted on Ripoff Report on 10/17/2013 03:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/The-Retirement-Advantage/Appleton-Wisconsin-54914/The-Retirement-Advantage-TRAtra401kcom-Charged-51250-for-fees-that-were-not-disclosed-1092708. 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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