Pensco Trust Company PENSCO Investors Warning - YOU WILL LOSE YOU MONEY TO FEES! Denver Colorado

I had funds in an IRA Account for many years.  Ultimately, through various acquisitions, etc, Pensco Trust became the financial service which managed my account.  Some of my holdings were in real estate investments.  I had was required to have a $ 250 min balance in my cash account to secure annual fees, etc. 

Since my real estate investment was not liquid, I could not close my Pensco Account.  Their fees continued to increase until I was being charged $ 370 per year to maintain the account which was more than my quarterly distributions from the real estate investment.  My cash balance was continually eroded.  Finally, my real estate investment was liquidated a final distribution of about $ 840 was transferred into my cash account.

I made a request to close the account and received a check for only $ 351.89 from a cash balance of about $ 1140.  (I know that is not a lot of money to some, but, to me, at my age it is precious.)  Anyway, I called to ask why the check was so little and the person began to advise the fees and charges.  Needless to say, I was livid.  His reply was, "Well, you can write a letter to our management and complain about the fees."  Yeah Right!

I have chosen this route instead.  BE WARNED not to trust PENSCO...  They will eat your funds with exorbitant fees and your investment will be eroded rather than increase.  They should change their name to PENSCO NO Trust Company.