Report: #969099

Complaint Review: Lincoln Financial Advisors Group

  • Submitted: Wed, November 14, 2012
  • Updated: Wed, November 14, 2012
  • Reported By: F. Rod — Danville California United States of America
  • Lincoln Financial Advisors Group
    1300 South Clinton Street,
    Fort Wayne, Indiana
    United States of America

Lincoln Financial Advisors Group Lincoln Financial Advisors Group Played and Lost my IRA and I am being charged for it Fort Wayne, Indiana

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I opened a SEP IRA account with Lincoln Financial Advisors in 1999. At the time, I was assigned a financial advisor which left the company. My account became an orphan. The company failed to contact me and let me know A) that I no longer had a financial advisor B) there was no one to manage the investments.

As a result, the value of the investment got lower and lower with no one maintaining this account. The big problem is that I am being charged for services I have never received. It took me weeks to get ahold of someone that can provide any information on my account since there was no assigned advisor. When I finally spoke to someone, they told me that my account was a house account and it is just tough that my investment is gone. This is rediculous.

If everyone invested in retirement with this company had the same experience which I got confirmation that lots and lots of individuals lost their investment because of two market downturns! then people will have to start living on streets when they hit the retirement age!!! There seems to be no accountability on the company's part to manage their clients funds.
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This report was posted on Ripoff Report on 11/14/2012 11:45 AM and is a permanent record located here: 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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