Wells Fargo Advisors
Reviews and Complaints

My adviser did not follow my written trade request which resulted in financial losses. I would lie to launch an investigation. My email address rpolotskaya@yahoo.com

Thank you,

Rimma Polotskaya

I sure should have visited this site before we dealt with WF "Advisors". Despite assuring us that they understood and agreed that the interest rate environment was (and is) rising a year and a half ago, they put our money in an "investment" that was sure to go down if interest rates went up.

Fortunately, we got all our money back but the net result was they sucked $6K out of our account, created $1K in tax liability with no profits. Stay away from these people, they are crooks and incompetents.

Stay away! Within the Wells Fargo bank branch they pressure you into investing with their advisor (obviously to make commission). Then they show you a graph that is meaningless and swindle you into putting several thousand into an investment... Then after a year the bottom falls out and you lose a large chunk of your investment... Then just to make the situation even better they nail you with hidden fees when you pull out what little money you have left! Buyer beware!... Your better off just going to the casino and throwing $20 grand on red!

I am a 77 year old woman. A Wells Fargo Advisor put me into the above investment. At the end of five years I received my principle ($100, 000) back without a PENNY of interest. I do not know of one single reputable investment company that over five years with that much money didn't make anything. I also paid taxes on income the investment supposedly made.

There can be no doubt: Wells Fargo Advisors is a den of thieves. Just a few years ago, the Vice President of Wells Fargo Advisors plead guilty to a federal indictment that he wrote $1.8 million in checks out the brokerage account of a client who was an elderly widow (https://www.fbi.gov/sanfrancisco/press-releases/2013/former-vice-president-of-wells-fargo-advisors-and-morgan-stanley-co.-pleads-guilty-in-1.8-million-fraud-scheme). Wells Fargo Advisors is criminal from top to bottom. I won't detail my personal story with them; just to say that a crooked WF broker Carl ****** lost $40, 000 before I moved my money. He lied, mislead, etc, etc. What I want to tell you here, is that you do not need WF's help nor permission to move your money. If you suspect you're being cheated (and you probably are!) go to another not-for-profit brokerage firm that has a clean record (e.g., TIAA-Cref, Vanguard) and request an Automated Customer Account Transfer Service (ACATS) to facilitate the transfer of your customer account from the criminals at WF. You do not need WF's permission; do not even tell them what you're doing. Simply call the new firm and request an ACATS. You're most welcome!

It is a terrible company. Once they got your money, it is hard to find them anymore. Besides, they always blame clients not themselves if something goes wrong.

Horrible company: My Wells Fargo advisor didn't take the time to look at my account. My advisor told me I didn't have a guarantee on my account. When it was set up years ago, I was told it had a guarantee but I couldn't remember what it was called. Turned out it was called Guaranteed Minimum Income Benefit (GMIB). The statements had changed over the years. Originally the GMIB was shown on the statement and then they changed and it wasn't there. My advisor said I didn't have one, then he said he needed to change my account to custodial which he said was normal. After which he canceled my contract which had the GMIB on it and he did not need my signature because of it being a custodial account. All this done without my knowledge. Then he moved everything into mutual funds. My original $61, 000 in 2003 is down to $15, 000. My wells fargo advisor lied to me over and over. Now finra is going to decide if he did anything wrong. What did he do right? Also I have to pay $1000 to go to arbitration to see if I can get any money back. If he hadn't lied to me and just left my account alone, I would still have my money. But I guess he wanted to make some money, so he robbed me of my retirement. Of course, Wells Fargo turned it around saying it was my fault, that I should have known. What was his job?

Totally agree. This is the most dishonest group of individuals I have ever done business with. Getting out of their grasp is a lot harder to do then getting into their bad investments. I don't know how Wells Fargo can continue having this firm doing business under the Wells Fargo name even though they are independent contractors. As far as I'm concerned, this is legalized robbery of average working people being put into the hands of so called financial experts and the casino gamblers on Wall street . When you ask about higher interest rates, the immediately refer you to the brokerage people sitting in a cubicle inside the bank. That is how I got taken in by one of these people who claim to be experts in finance. For all intents and purposes, you have no recourse once they have taken your money away through their bad investment advise. They are the reason so many people are fed up with the banking sector. It is a rigged game on behalf of the big banks.

Been trying for 7 weeks to get my Ira transferred out of Wells Fargo. It's been a nightmare. They give me info on what I need in order to complete the transfer but I got 2 letters a week apart stating I didn't send the required documentation to complete the transfer. I called and they told me I needed some other information and yet again, for the third time, I get another letter saying the request cannot be completed because info is missing on the transfer request. Needless to say I'm beyond angry. Those advisors are completely incompetent! I have no words to describe my utter distaste for this company.

In 2014, I went to Wells Fargo Advisors to put $6500 in an IRA for tax purposes. I had been doing business with one individual who put me into deferred annuities which had been giving me three per cent interest for the last ten years. I was relatively content with the return and wanted to add to it at the end of the year. Unfortunately, the person who I had been working with retired. I was referred to another individual who pressured me into putting the additional money into a Franklin Templeton mutual fund of which I had absolutely zero understanding. He convinced me it would give a much better return than the guaranteed annuity I had been happy with. From day one, it started losing money and has not recovered to this date. I am down around $700 from the initial $6500. When I called to find out why this fund was doing so bad, I was told my account had been transferred to an individual I had never met. I called his phone number and got a voice mail saying he was unavailable and I should call his assistant. I called the assistant and she gave me short shrift basically telling me they would sell it at a loss if I was really unhappy. I was not trying to get rich on $6500. I just wanted a tax write off. However, I did not want to give ten cents to anyone associated with Wall street. Every time I called to talk to someone, I got the long distance run around. I have to wait until 2016 to sell to avoid paying more taxes this year. After that, I will never do business with this firm again. I was treated very shabbily whenever I complained. They made me feel more like a pest than a valued client.

Stephanie at wells Fargo dealer services is rude, unhelpful, unfair and lies. She is located at president office. Told us we cant go no higher on our complaint so deal with it.