Complaint Review: Cambridge Investment Research - Fairfield Iowa
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- Author Confirmed
- Cambridge Investment Research 1776 Pleasant Plain Rd Fairfield, Iowa U.S.A.
- Phone: 641-4725100
- Web:
- Category: Investment Brokers
Cambridge Investment Research Charged account closing fees after they quit on us! Fairfield Iowa
*Consumer Comment: Cambridge Investment Research / Pershing - You're Fired!
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This outfit using another name, "Pershing" so one can blaime the other for whatever you complain about. I suppose I'll have to write them up too. The "Financial Consultant" for our accounts left to go to Wachovia Securities. One would expect they would assign another representative, but, no, they simple requested that we close the accounts. I didn't mind so much, they didn't seem to be that great an outfit anyway. Similar to Edward Jones, I think, in the way they turn non-financial people who lose their first careers into someone we are supposed to trust our futures to. (hmmm)
Anyway, imagine my surprize when they charged me fees ($75 per IRA and $50 per other account) to close the accounts THEY ASKED ME TO CLOSE!!! I protested this and the 1) cited something they said "must have been" in the account opening paperwork, noticing me that these fees would be closed, and 2) "the fees are actually charged by the other company (Pershing) so it's beyond our control." What a crock. Well, how far do you go to retrieve $125.00 of good money after bad. I'm glad at least I can try to warn others to stay away from these guys.
Billy
Willis, Texas
U.S.A.
This report was posted on Ripoff Report on 04/13/2009 10:37 AM and is a permanent record located here: https://www.ripoffreport.com/reports/cambridge-investment-research/fairfield-iowa-52556/cambridge-investment-research-charged-account-closing-fees-after-they-quit-on-us-fairfiel-443200. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Cambridge Investment Research / Pershing - You're Fired!
AUTHOR: Paulie - (USA)
SUBMITTED: Wednesday, March 04, 2015
We've been investing with Cambridge for a long time now, and regret that we are preparing to fire them. We've had recurring issues with getting our 1099's out of them for filing our income taxes, and this has worsened as the years have passed. These are supposed to be sent (per IRS regulations) by January 31, but now at March 4 - still nothing. Cambridge is impossible to contact, and they have NEVER responded to written inquiries. We are now requesting assistance from the IRS with this issue. I suggest that everyone avoid this company at all costs - definitely not worth the hassle.
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