American Centiry Investments Review

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American Funds customer reviews, complaints, mutual funds performance, ratings, pros and cons. Is American Funds broker good and safe firm to invest?

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AmericanFunds Broker Customer Reviews

by L edwards, 4/16/2019

Pros: None

Cons: Thieves

They send statements and steal money!!!

by Travis, 1/7/2019

Pros: none

Cons: none

Very hard to request a Cash Distribution. John Thrower is a horrible representative. Answered my call, I told him I hadnt received the paperwork I had request and he hung up on me. Absolutely terrible.

by Sheila, 12/28/2018

Pros: Relatively easy to set up accounts

Cons: Horribly unnecessary fees and very costly to move/terminate plans

Do not open any retirement account with this company. I do not review companies unless I absolutely feel the need to. You will be sorry for the amount of “recordkeeping” fees they have to just hold your assets!!

by R McD, 12/6/2018

Pros: N/A

Cons: An ex-employer snuck 3 payments to a 401k to American funds before i noticed. I stopped this from happening bc i knew how crooked they were. When i went to close this account, i was charged fees exceeding my total available to receive, so i left the account running. Later i received a check for $4.35 and realized my tax return will see a loss of $373.

Thriving, sorry, theiving investment company. Use anyone but them. I've had 3 401k plans I've closed and one still running. None have stolen my money more deceptively than American funds.

by Rob, 10/17/2018

Pros: Companies like them b/c they're cheap for the company; but that's b/c they hit investors with huge fees

Cons: Terrible, terrible company. Hard to get your money out. Terrible website. Terrible investment options. Absolutely no reason to use them instead of schwab, fidelity, vanguard, etc.

Terrible, terrible company. Hard to get your money out. Terrible website. Terrible investment options. Absolutely no reason to use them instead of schwab, fidelity, vanguard, etc.

by Jessee, 9/26/2018

Pros:

Cons: Worst at processing requests

I put in a request for a partial withdrawal on August 31st. I did a follow-up call a few days later and they informed me that it was with a third party that approves it, and then it would go to my previous employer. They told me to call back in a week and a half. I did and they said it had been sent to the third party and they had called but could not get a hold of anyone so they left a voicemail. They told me to call back a week later again. I did. This guy told me that they had sent it to a wrong/old email address two weeks earlier, so nothing had happened with it. They sent again and called the third party to make sure they got it. They also informed me if it went over 30 days, we'd have to start over, when it was TOTALLY their fault. Had I not called to check in 4 times, this would have gone no where. Worst, worst, worst at doing their basic job duties. I did half of it for them by contacting my old manager several times to let them know they'd have to sign off on the request. Almost a month later and it finally got approved, barely within days of the deadline. They never sent me any updates on the progress of my withdrawal request or anything. Ridiculous.

by Steve, 9/6/2018

Pros: 0

Cons: Roll over of 401k done but they forgot small amount. Now valued at $96 they want $60 to disburse. this amount. Spent 1/2 hour on phone with them so they could confirm they would charge $60.

Roll over of 401k done but they forgot small amount. Now valued at $96 they want $60 to disburse. this amount. Spent 1/2 hour on phone with them so they could confirm they would charge $60.

by Dan, 8/29/2018

Pros: none

Cons: ohh many the list goes on

awful, just awful. DO NOT GIVE THESE PEOPLE YOUR MONEY IT WILL TAKE A YEAR IF YOU EVER WANNA SEE IT AGAIN. and beleive me they wont help you to do it.

by Robert, 7/23/2018

Pros: Informative

Cons: The rules of my 401k are dumb

The girl that i talked to was informative. I think from listening to her that i can answer a few of other peoples issues. 1. Taking money out of my 401k if its for a rollover or redemption requires the to withhold 10% by federal law. 2. The way my company wanted the plan to be held meant i would get charged for transfers. Its not very difficult to listen which most of the people above did not. I get great returns in my 401k. Dont know what all the crying is about. My company has to charge people i give em a service. Tired of the snowflake thinking. Educate yourself or asked to be educated then be willing to be educated.

by Candace, 3/11/2018

Pros: none

Cons: everything

No customer service on the weekends. Twice now I've been locked out of my account because their short code SMS texts were not working and they offered no other means to access my account. There is no customer service on the weekends and they have lousy hours during the week - I get off work on the west coast and they are already closed! Debating removing my IRA funds even though I will lose my employer's matching contribution because they are such a hassle to deal with and their website is poor.

by Kim Cooper, 2/1/2018

Pros:

Cons:

He told me he didn't have time for me. And I should close my account. I was to have a check TODAY and he new all week I had to fill out forms and never called me. He new I desperately needed the money and did nothing. Now I can't pay my bills. Treated poorly and kept making excuses. Pathetic

by Mike, 2/1/2018

Pros: None

Cons: Everything

Funds have very high expense ratios. The firm seems to invest very little in the direct customer experience making it a complete hassle as a customer to deal with them for any "back office" administration task. Majority of their processes are still paper and fax based. Dealing with them is like living in the 1990s.

by Chandler, 8/21/2017

Pros:

Cons:

Terrible customer service. I called to get transfer information of an IRA due to a death. I was told they didn't just send their forms to anyone. It's just a form. Stupid response, I found the form later online.

by Theda, 6/12/2017

Pros:

Cons: Cannot contact the Fund by email. I am out of the country and cannot get my login reset!

Unfortunately I have repeatedly tried to contact this organization by email as I am out of the US. I greatly appreciate their security measures. However, I can't get my login reset so I can change my password to log in. This has been going on for weeks. As I mention, I greatly appreciate all security measures but would like to have the possabality of logging in.

by Ruth Palmer, 3/20/2017

Pros:

Cons:

Tried to transfer a fund to daughter. First told to write a letter of intention and have a signature guarantee. No one said it had to be two stamps because it's a joint account with my husband. Then they call and tell me I have to fill out a form. They'll want money I'm sure to process that. I'm totally disgusted with this fund. Told her to cash it in. I can't do that on the phone she replied. Smoke and mirrors.

by Zach, 12/24/2015

Pros:

Cons:

I only used them for a few weeks as a contractor – it would have been longer but they're so bad at creating and verifying accounts that it took over a month to get my 401k opened. When I found another job and tried to close my account (less than $2000 in it) they charged me $50 to process the form to roll it over to my current account.




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Is American Funds a Safe Company?

Are you thinking about investing in American Funds mutual funds but have questions about the company’s safety and reliability? This article will tell you everything you need to know about the enterprise and then give you some advice.

History and Size

American Funds was established in 1931, and today it’s a subsidiary of Capital Group Companies, one of the largest investment firms in the United States. American Funds has over a trillion (yes, trillion with a t) dollars in client assets; so it’s definitely not a small firm.

Registration

American Funds is registered with the SEC, the major watchdog of the U.S. securities industry. Its SEC ID number is 8-17168. Because it is registered with the SEC, it is not registered with any state securities supervisory body.

American Funds is also a member of FINRA, the self-regulatory body of the U.S. investment space. Its CRD number is 6247. Its profile page on FINRA’s website shows zero disclosures, a very good sign. Its registration was approved in 1972, which is a very long history. To have no disclosures over such a long time is excellent. FINRA’s profile for American Funds shows that the company is not currently suspended with any regulator, another good sign.

American Funds is registered with FINRA as both an investment advisor and a broker-dealer. Besides mutual funds, the company also is able to work as a municipal securities dealer. It is not registered to transact business in commodities, futures, or options on futures.

American Funds BBB Rating

American Funds Better Business Bureau rating is A which is obviously very good. You can see all the detailes on American Funds BBB page: American Funds BBB »

Our Judgment

Based on our research into American Funds’ history, size, and legal registrations, it appears that it is a safe, reliable, and perfectly legal company. It is not a scam. Furthermore, it is actually older and larger than many mutual fund families in the United States. Thus, we recommend the company if you’re looking for a trustworthy and dependable firm.

Having said that, we should also point out that the company does have mutual fund fees in some cases. Let’s take a look.

Types of Funds

We found 58 Class A funds from American Funds. These are mutual funds that have front-end loads. Many of these are as high as 5.75%, although a minority of Class A funds can be as low as 2.5%.

The International Growth and Income Fund (ticker symbol IGAAX) charges 5.75% on purchases. American Funds does offer breakpoint pricing, however, so this fee begins dropping at $25,000. The load reaches 0.00% at $1,000,000 or more.

In addition to the expense ratio, IGAAX charges 0.90% annually as its management fee. On the plus side, the fund only requires $250 to start an investment, and it has $13.8 billion in assets. That’s a huge fund. It also has 4 stars from Morningstar, a good sign. Despite the good ratings, the fund has underperformed its benchmark for the last few years.

If you would rather invest in a fund without a load, American Funds does offer some products without front-end or back-end charges. These are typically offered through employer-sponsored retirement plans.

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AmericanFunds Broker reviewed by former and current clients. AmericanFunds Broker customer reviews: 16. Rating: 2.