T.Rowe Price Brokerage Review

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T. Rowe Price reviews, customer complaints, and rating. Brokerage firm pros and cons. Is T. Rowe Price a good company to open an investment IRA or 401k account?

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T.Rowe Price Reviews

by Integrity, 1/12/2023

Pros: They're giving me a refund because I figure out I was enrolled just in time paperworks in the mail

Cons: You can apparently get a rolled without your permission and your money gets taken out of your paycheck

Thank God my wife said something asking if I were down on my hours at work because I didn't get my full normal paycheck. I was unaware that I was anything involved with this company and even if I knew about this company I would not and my right mind invest in this company regardless because of the all the bad reviews. Apparently they have a scheme going to steal your money with a lot of businesses out there that automatically in- roll you without telling you and you have to figure it out before 90 days of being activated to tell them that you don't want it and then you have to fill out forms to get your money back. I will never do business ever ever ever ever ever in my life they have betrayed my trust they have stole from me it's just unacceptable immoral unethical and should be illegal.

by C. Harris, 12/23/2022

Pros: IT Support Rep Jayden

Cons: EVERYTHING ELSE

This place is ridiculous, listen to the other reviews and STAY FAR AWAY. This place website is a TOTAL DISASTER and their customer service is no different. I was transferred back and forth between the retirement number and IT support. I was on the phone with these people for over 3 hours!! And no one could give me an answer or solution to my problems. Back and forth 5-6 different times!!!
THANKFULLY I got connected to jayden from the IT department (the 4th person I talked to from there) and he finally gave me some answers and fixed my entire issue WITHIN 10 MINUTES!! I asked him if they had a survey I could take after the call and of course they didn’t because if they did then everybody would leave negative reviews! My advice is to STAY AWAY FROM HERE!! If you’re unlucky and unfortunate to have to call here and have your whole day ruined then pray you get jayden

by Jake, 9/30/2022

Pros: None

Cons: EVERYTHING

The updating time process is a joke. Why does it take 7+ BUSINESS DAYS to update your system. Ditch the automated BS and quit giving people the run around about their accounts.

by Stephanie Beresford, 9/10/2022

Pros: None

Cons: Termination process

Our company 401K plans have been locked for pretty much all of 2022 due to a company acquisition. As of July the plan was finally terminated and we were able to proceed with withdrawals. The first disbursement check has never been received. A second payment was sent and was received but the check has now been returned for insufficient funds. Overall very disappointed as have never heard from TRP or the broker involved after the initial set up and then to have the issues withdrawing the funds I certainly would not and cannot recommend.

by KP, 8/8/2022

Pros: None

Cons: Terrible, Scummy, Conniving, Lying Brokerage with numerous comaplints against it

T Rowe Price is refusing to allow me to manage and access an account of which I am the custodian and illegally withholding securities and capital. I have been trying to access and manage transfers in this account for months now and T Rowe Price is making it impossible to do so. They are deliberately and willfully stonewalling me, despite all the information they have asked for being provided to them. I am the custodian of the account. Despite an egregious amount of calls, messages, exchanges (15+ instances this year alone), including numerous instances in prior years as well, they are refusing to let me manage the account properly. More shockingly, the firm is lying to me directly in regards to my ability to access the account. When I ask to speak with a supervisor, they routinely say someone will call you back within 48 hours, and nobody does. Their customer service routinely tells me they will call back tomorrow, and they don't. I have all these calls recorded, including their blatant lies and misinformation. I have been polite, cordial and responsive on everything they have asked. When I recently expressed concern that they are refusing to let me access capital, they promptly suspended my access to the online platform completely and for no reason whatsoever. I have never in my life seen behavior like this from any financial institution, brokerage or asset manager, it is truly shocking and appears to be illegal. They are withholding capital and securities that do not belong to them. This firm is well known for creating as many difficulties as possible if they feel an individual is trying to access or transfer capital. They have deliberately lied to me on multiple occasions, providing fraudulent information and being completely uncooperative. As I recently read reviews of this company online, on many different platforms, I was not surprised to see that many, many of their customers have dealt with similar issues. They have done this to countless customers. I believe they have stolen my securities and capital. This is a scummy, fraudulent, conniving company as their behavior is absolutely shocking, inappropriate and seems to be illegal and criminal. They are simply refusing to let me access this capital or the account. They have now completely blocked my online access with no explanation whatsoever. They are literally doing anything they possible can to keep me from rightfully accessing this account as they have done to many others. If you are reading this, do not invest with them.
If they are also treating you in an inappropriate manner, file a FINRA complaint promptly against them. Their CRD number is 8348.
File a FINRA complaint here:
https://www.finra.org/investors/need-help/file-a-complaint
Also, file an SEC complaint against them here:
https://www.sec.gov/oiea/Complaint.html

by Craige, 7/20/2022

Pros: None

Cons: Terrible customer service.

Their website is not the best. I made a withdrawal that I
requested to be directly deposited into my savings account, about 2 days from withdrawal to my account. My bank is digitally linked. Instead T. Rowe Price mails me a paper check through the super slow USPS. This process costs me an additional 10 to 12 days for the money to get into my account. Not crucial but very inconvenient because someone doesn’t follow instructions. But I guess you get what you pay for. I’m rolling my 401K over to Fidelity Investments.

by Jozef, 5/11/2022

Pros: Website

Cons: Customer Representatives

Don't bother talking to a rep to fix an issue with IRA contributions. They just muck up everything more. Talked to 4 different people. They're all equally ignorant on how Roth and Traditional IRAs work.

by williemo, 3/7/2022

Pros: nothing to say

Cons: bunch of uneducated crooks

only possible thing to do with them is get a loan on your own money because of the high rate you'll be paying back, any other thing its impossible, customer services appears that they have options written down and they just repeat answers over and over until you hang up, that sweet talk to invest more ... please don't fall for it, it will just build more stress into to you, nothing is explained clearly, stuff is left of on purpose, don't fall for the you can take money to purchase a residence ... pure BS ... DO NOT DEAL WITH THESE CROOKS

by John, 2/2/2022

Pros: NONE

Cons: Everything I have encountered

I have had brokerage and retirement accounts at a number of firms. These guys are the worst BY FAR! Would NOT recommend to anyone!

by amanda, 1/21/2022

Pros: 0

Cons:

I requested a loan from my account and was given the time frame of roughly 5 business days. After 6 business days I called in to get assistance and was told 10 days not 5, okay fine. 10 days pass still no check. I call back and the rep cancels the old check and reissues one express mail 2-3 day time frame. 4th day comes no check. I call and then I am advised no one ever cancelled my 1st check and had a new one reissued. I was assured this was getting done and I could call back the next day for tracking. I call back the next day guess what still nothing had been done on my account. No cancellation, no reissue of a new check nothing. This company has been the most unprofessional when it comes to dealing with business. This is extremely unacceptable and not one person that i have spoken with has offered me any type of relief such as overnighting me my check. I am still waiting on my check to come in now 3 weeks into this and I have already had money taken out of my check to repay the load on a check that I still have not received. The WORST, unprofessional company you could ever do business with.

by Denise, 12/28/2021

Pros: never a problem for me

Cons: none so far

I'm surprised by all the bad reviews. I never had a bad experience on the phone. I suggest using email and avoiding TRP at Christmas holiday time. Buy & sell online. The only thing I don't like is the confusing account statements I get in the mail.

by Mike, 12/21/2021

Pros: Really...

Cons: Hold you hostage

Read the reviews! Horrible customer service. Bunch of kids answering the phones, very misinforming. They WILL NOT go the extra mile to help you. Way too many road blocks to borrow or claim hardship. It's almost designed to hold your money hostage. Again, HORRIBLE customer service.

by Frustrated, 12/16/2021

Pros: None

Cons: Everything

We placed our firm's retirement account with T. Rowe Price in 2021 and they have been the absolute worst when it comes to customer service. Anyone considering TRP, please stay far away from this company.

by Joseph, 12/16/2021

Pros: Brokerage usually accepts & executes my trades.

Cons: Unreliable website. Poor or no phone response,

Have been with TRP for a long time, used to be I could call and get someone nice on the phone. Those days are gone. My concern lately is that the website has not been working during market hours and that's bad. I mean if you had to sell stocks and you didn't have a Stop underneath them, you are screwed. If you wanted to buy, couldn't do that either. Every day lately there is an apology message on their site that indicates they are having technical problems. You'd think they could afford to hire knowledgeable computer technicians, or have some backup servers. How could you leave your site down or unstable for so many consecutive days. Frustrating.

by Tim, 9/1/2021

Pros: None

Cons: They hold you hostage

I tried to access my account online and it failed. I called them and they asked questions that aren’t reasonable for me to answer. Then they locked my account and said I have to fill out an identification verification form and notarize and send back. Account was then supposed to me unlocked. It isn’t and when you call you either don’t get a person to answer or if they do, the call disconnects within a minute and you have to call back. It’s infuriating. No one accepts responsibility or can assist you and you leave your phone number and no one calls back. I have never seen anything like this company in terms of customer service. They have made errors with distribution and have held up distribution because they lock you out and you have no way of getting a human to rectify. I worked hard for this money and while I appreciate security to prevent fraud, this is like a bank holding your money and denying you access to it with no way to prove your identity. They have a serious problem internally. I have called 50 times and each time the phone goes dead mid sentence. The government should look into these guys.

by Larry Davis, 8/25/2021

Pros: All the Agents have the same line

Cons: Paper work never adds up

TRP sent me a 1099 form in the mail, for the amount, of a loan that I took out against my retirement account with them. TRP is still showing that I owe the loan on my account, and is taking out a daily interest money, for a loan that has already been reported as income on my 2020 Taxes. This is illegal... I called TRP and asked why was the loan still showing on my account, and was told it is a Ghost amount figure.. crooks Lol

by Randy Anderson, 4/30/2021

Pros: I can't think of anything

Cons: Long wait times every time, disconnected phone calls, incorrect transactions

Their customer service is the worst, long wait times, phone disconnects, incorrect transactions that require call-back. They push to get you to use their automatic system and considering the quality of their representatives and delays, I can see why. They must have an ultra-cheap phone system that has poor sound quality. The sound, at times, is so garbled that I have to call back and go through the long delays of a connection again. We will be retiring soon and we will take our two million in retirement savings to Vanguard! That's not alot by TRP standards but they won't have our savings for long.

by debbie ashley, 4/1/2021

Pros: zero

Cons: you can't log on to your account without a frustrating experiance

Just got off the phone with T.Rowe after an hour of phones cutting in and out just like the last time I HAD to call T.Rowe and being transferred 4 or 5 times. The only thing I can figure out is the democrat party is running T.Rowe Price now. I finally was able to sell all my stock, thank god I'll never have to trade with them again.

by David Koerner, 9/25/2020

Pros: None

Cons: Employer's 401k

They handle my employer's 401k. After 5 years I realize I would have been better off to put that money in a sock drawer. Whoever manages their various funds are incapable of handling anyone's finances. Terrible return....actually losing money. This outfit should be investigated.

by ce sturdy, 7/27/2020

Pros: Well organized website, provides stock prices in realtime, friendly phone conversation, I like the feel of the website and informative articles

Cons: Appointment for service in office only for customers w over $100,000 invested, expensive closing fees,I $19.95 per stock trade- high compared to other discount brokerages

I have been with trp for about 30 years. Used to be I could go to their office and talk personally to someone. Not anymore unless you have a large amount invested. If i had to do it again, I would try one of those brokerages with lower commission fees, and lower closing costs. If I were to close my accoounts, i would have to pay $20 for each account I have, and I have multiple accounts. I would have to have $100,000 invested and make 30 trades a year inorder to pay less per trade- $9.95 and that is still high compared to other discount brokerages. Three stars cause I do not know personally how other brokerages deal with their customers.

by Ruthann L Anhorn, 7/15/2020

Pros: None... absolutely none!

Cons: Way too many to list!

At all cost avoid this company! The customer service is a joke! The letters they send out simply say that they cannot process the claim but give no information as to why.
When you call in you either get placed on hold for extremely long times before getting someone who can’t help at all. Then you get hung up on... rinse and repeat... when you finally get information on what is needed to process the claim it is always a different reason than you were told before. The supervisor Nicole Salter was no help at all, and you can tell she didn’t even give a rats a$$ about my frustration and anger.
This is for a claim on my Brother-in-laws account. He passed away in Oct of 2018... we have provided all the documents needed over and over again! Now they are requiring us to open probate for him. It costs over half of the amount we are trying to collect! Seriously, they are requiring us to file for probate. And they say it needs to be done in OR rather than CA since they say his last address was in OR even though he had been in CA for over 7 years. Interesting enough, they sent him a letter 4 days before he passed at his correct address in CA so they knew he was there!
My FIL passed away 3 weeks later sadly. My BIL died intestate and a small estate claim is all we need to file HE IS NOT REQUIRED TO FILE FIR PROBATE IN CA, THE STATE HE RESIDED AND DIED IN! The claim passes to my FILs estate to then be distributed as his trust outlines!
Like I said, go anywhere else but T. Rowe Price!

by JoAnna Toth, 7/7/2020

Pros: None

Cons: Constant fees, no increase in value, cannot take my money out until I retire from the State of IL

I have worked in the investment banking industry for years, but now work for the State of Illinois and this is who they chose for our retirement account, big mistake. I have never had worse performance on any investment account I have had, the customer service is horrible, no one answers the phones, got different answers from every employee and the licensed brokers who handle the accounts were a joke and rude and hateful, especially David. I stopped all of my contributions and moved what money I had left in the account to a MMKT to at least preserve it until I retire or take it out at an earlier time if there is an emergency event. I feel trapped with them now as I intend to work for another fifteen years. So, the money will rest in a safe account until I can remove it and I will continue my investments with my other three IRA's with other investment banks I do business with. Don't waste your time or money with T Rowe Price, all they are out to do is make money off of you, they don't care about the client.

by P.s, 3/3/2020

Pros: None

Cons: Poorly Managed MD 529 Plan

Had money transferred from md trust to md trp 529 savings. Called trust rep who said check was overnighted to trp days ago and then spoke with trp rep who confirmed money would show in account NEXT DAY. I thought great! I waited days for it to show; it hasn't. Finally, I call back trp. Trp Rep claims they never received check. Blamed the trust for always taking too long. I told trp rep that someone else in their office completely contradicted that the check wasnt received. Regardless, I contacted trust who has tracking number and a signature that the check was indeed received and signed for by trp the previous week. Called trp to share this information. Trp rep did confirm that check was received. The trp rep said she would call back Friday end of day with details about where the check is and when it will be deposited. Monday, end of day, still no call back and no deposit. I feel completely betrayed by the State of Md for choosing a company like this to manage the money I worked so many years to save. I am struggling with exorbitant monthly tuition payments which I should not be required to do after years of saving. I have no idea how long it will take trp to find this 50k+ check nor how long it will take for them to deposit it once found. Furthermore, one of the reps acted so arrogant; quickly shifting blame, and saying whatever to just get me off the phone. One big pathetic show that I dont have time for, but I'm up at 3:30 am fretting over. Not fair.

by D, Watkins, 2/6/2020

Pros: Some nice people there

Cons: Some not so much.

I have had a very unpleasant time with TRP. Some of the phone people are rude one young guy was very condescending to me. Yes I am an inexperienced person with this sort or thing. I was laughed at and mocked and was treated like he thought I was attempting to scam him and/or as though he thought I was stupid. I am a trustee to my dads estate I needed and still do need to transfer accounts around to ready for a distribution. They were given ALL of the requested documents and still its a no show from them for pay outs etc. When called these days, they want to know what the dollar amounts of the accounts are, however they will NOT send me any statements now or give me numbers over the phone, so how in the H### am I going to know any amounts! TRP is frustrating to work with. TD Ameritrade was a piece of cake. Go there. I am now going to notify my State AG office to look into the matter. Im done!!! with T Rowe

by Frustrated in MD, 1/10/2020

Pros: None

Cons: Too many to list

We had a Prepaid College Fund with Md which is managed by TRowe. We wanted to switch it to a 529 savings. Prepaid 529 lost our request. Then, Trowe 529 said they did not get the money. Lie. Prepaid gave us a tracking number. Oh it is here. Then, Trowe submitted it as a contribution instead of a rollover. Then, fixed that, but put it my account instead of my husband ‘s. Could not get that fixed in a timely manner so I finally made a distribution out of mine. It overdrew my account as I knew it would and told the associate who did the transaction. Trowe called next day and said we have a problem. Surprise right? No! Said they would fix so distributions could be made. Still waiting after a week for them to fix that. Supposedly, I might get my check by Wednesday though I am not holding my breath. I can not tell you the number of hours I have spent on the telephone trying to get this fixed and all I get are apologies with little to no action. I thought this was my money, not theirs! Apparently, I was wrong!!! This is not the first problem that I have had this year with them-just the worst! I would not recommend them. I verify as myself each time I talk to them. Unfortunately, I am never allowed to verify if they are competent to handle my money and am never allowed to talk to someone higher up!!!

by Robert, 10/31/2019

Pros: None

Cons: To many to list (see below)

Here are their ground rules to prevent getting access to your funds.
Customer service reps. .... Never give customers your last name, your phone number, your email or any way to contact you again. NEVER issue a confirmation or case number. Never let a customer speak with your supervisor. Always mis-inform the customer when giving directions on how to fill out forms. Make a mistake on the customer's registration just so we can issue a new account number thereby invalidating previous forms, legal documents, actions etc. If making a transfer out of T. R. Price immediately rescind it. Do all these things so we can keep the money instead of transferring it to it's rightful owner. Oh yes .... try to sleep well at night.

by Angela M. R., 8/5/2019

Pros: 0 Pros

Cons: Nothing but Cons

This review is based solely on my TRowe Price experience. I initiated a total cash out of my 401k after I was terminated from my job for missing work the morning my dog died right before I walk out the door to go to work. We had just depleted our savings accounts and all cash on hand to pay the emergency vet that night. So, I needed my 401k money to pay our bills which I thought I could work some overtime and recoup, but, low and behold, I was terminated. So, on to the T Rowe Price experience...I logged in online to initiate the cash out, it wouldn't let me link my bank so I was forced to call. I spoke with a very nice, professional representative who was pleasant and helped me cash it out. He asked me for direct deposit information, I called my bank, to make sure I was giving the proper info, and that was that. All set for a direct deposit the next day between 3 and 5 pm. Next day arrives, 3 goes by, nothing. 4 goes by, nothing, 5 goes by....nothing. WTH?? So I call the next morning at 8:30 am to find out that the information I gave was incorrect and it voided my transfer, and issued a check. I got the check cancelled, restarted the transfer request with the same information as before. Nothing had changed, same numbers, same name, all good. Until, I went to my bank and was asking them the process of receiving a deposit from T Rowe Price and found out it was not a direct deposit, but a WIRE TRANSFER. The representative had asked me for DIRECT DEPOSIT information not a wire transfer, so I knew the money was not going to go out, it would void again, so I called again and let them know I was asked for the wrong information. Got it all squared away. That day, which was Friday, I was told as long as my request was processed by 3 pm, it would transfer that day. The representative assured me the transfer was in fact processed at 2:59 so I was put on a 45 minute "brief" hold, and was then told the transfer was scheduled for Monday. WHAT? I had been lied to again. People don't cash out their retirement on a whim. They cash it out for emergencies. My emergency was July 31st. It is now Monday August 5th 4:01 pm. and I still have nothing. Guarantee this company waits until 4:59 to transfer my money that way I have to wait yet another day to access it. This is all just the rough draft of the interaction with the company. I didn't include the over 20 hours of calls I have made since the 31st and bet 18 of those hours I was placed on a "brief" hold. They lied to me and told me I would get my money the next day. That was supposed to be August 1st. All in all, I will NOT choose this company to hold my retirement funds, because their representatives do not know how to handle accounts. The words DIRECT DEPOSIT should be banned from speaking. I am so disgusted with the lack of effort or caring that this company had for me. All textbook answers. When it comes down to it, they had dropped the ball each day. I do not recommend this company to anyone.

by Christopher, 5/17/2019

Pros:

Cons: Customer/Online services

I started a mutual fund with T. Rowe Price some 5+ years ago. Since then I have tried 4 or 5 times to link my bank account with my mutual fund account so that I could more easily transfer funds. It has yet to work. I'm considering pulling my money out at this point. I don't WANT to void a check and mail it to you. What's the point of having the online process if it doesn't even work? As much money as you manage and no doubt make, you should pay for some decent programmers to make your website work. The random questions must pull info on other people with the same name as me, too, because it frequently asks me questions that I know dang well aren't about me and then it will FAIL me when I give the answer that the person or property in question isn't related to me. I was just on the phone today for almost two hours with two different employees and when I wanted to complain they couldn't even put a manager on the line. What kind of business are you running? Take some accountability and listen to my complaints for god's sake.

by Kevin, 5/1/2019

Pros: none

Cons: Unethical and possibly illegal

My Father passed away and my mom is incapacitated. I hold a valid Durable Power of Attorney and am trustee of my parents trust. In spite of this, AND THE FACT THAT 13 OTHER institutions have honored the DPOA T.Rowe Price refuses to and requires instruments that are unorthodox and potential to execute. I have made a complaint to the Attorney Generals office in Maryland and suggest you do the same. I'm NOT surprised to see this many complaints against this company on this website.

by Brian Duarte, 3/19/2019

Pros: Lots of Funds

Cons: Terrible Customer Service

I had TRP through a 401K at work. They used Schwab for self-directed investing because this was not possible through TRP directly. Their On line and mobile apps are not user friendly and does not reflect real time stock or fund values (always close of business the previous day). It takes no less than 4 mins to speak with an agent via phone. All transactions take 3-5 business days, minimum. Decided to roll-over 401K into eTrade, and the process took.....over 30 days! The icing on the cake was after the manager promised to send checks to eTrade via FedEx (they can't do electronic payments?) the checks were actually sent USPS. Nightmare.

by John, 2/26/2019

Pros:

Cons: Constant mistakes customer must work months to correct their mistakes

Why does T. Rowe Price have quality control recorded messages? They do not improve. Simple things get mixed up in most phone calls to customer service. We are supposedly "Enhanced Personal Service" customers, and are supposed to get VIP service. If this is the best T. Rowe Price does, then they have little concern for customers. Now and then an arrogant pushy phone representative, but mostly clueless people who make mistakes, give incorrect information. Cannot get connected to people who do anything. Required to talk with the clueless people, who and notes or call others to get things done. Expensive for what you get as "service." You will get much stress and wasted time. Long time customer who is frustrated looking for a better place to transfer assets.

by jn, 1/4/2019

Pros: none

Cons: poor customer service

i've contacted them about 6 times now with an early withrdrawal request.
unfortunately, my previous employer left vital delivery information out so the check had to be stopped and reissued.

when i called to clear this up, i was never informed that i could simply fax over bank info to have a direct deposit done which would have been MUCH easier for me as opposed to waiting for USPS to deliver. tracking information is also not provided which only adds to the anxiety.

advisors have been nice but no one has gone above and beyond to make this experience more pleasant or to reassure that things are being taken care of on their end.

by JackP, 12/26/2018

Pros: Some good funds

Cons: Poor customer service

For dividend and capital gains payments that they send to my bank, they refuse to take taxes out. I was told by their phone representative that they don't get involved in our taxes, that we have to take care of that. Interesting that all other investment companies that I have dealt with do it. I will just continue dealing with the other guys since TRP can't be bothered. Makes you wonder what else they won't be bothered with.

by Blake, 11/20/2018

Pros: None

Cons: Don't care about the little guy.

Save your self some money and time. find someone better.

by Savannah Pena, 11/13/2018

Pros:

Cons: Terrible

I left my previous employer and it was never updated to TRowe so that I could roll over/cash out my investments. My funds have decreased by $500. Trowe didn't seem to care at all. I tried to change my investments so that the funds would stay the same but was told that it wouldn't take effect until tomorrow. Currently my funds are decreasing at a $100+ per day rate. So now I will be losing more of my funds. Thanks Trowe!

by J.M., 7/9/2018

Pros:

Cons:

I just learned that my Global Tech Fund account was liquidated and turned over to my state of residence as "abandoned". The requirement of my state is that official mail from mutual fund company is returned by the USPS as undeliverable twice. It is hard to believe that occurred, on two separate occasions, when I have had no problem with regular receipt of mail at same address of record. The state had no problem delivering me notice of ''unclaimed property" at the very address that T.R. Price provided them and where I am very much alive.
I wasn't aware of the laws allowing for such liquidation. This was a long term investment that I did a lot of research before selecting and then chose not to monitor. I find it unconscionable that T.R. Price would not have verified my address through subsequent mail delivery as well as simply telephoning me. Both my phone and address were on my account, are publicly listed and easily verified.

by Chilledmac, 6/25/2018

Pros: ease of self management

Cons: Loosing my account

I’ve been with t Rowe price for almost 30 years. This past year they have now lost my account again.

No record, can’t find it, can’t give a reason etc.

After they find it a second time it may be time to mive on to a different company.

by Madeleine, 4/18/2018

Pros: None

Cons: Many

Exceedingly negative customer service experience be it at their DC Financial Center (before closer in March 2018) or over the phone at any time of day. Not to mention the "inferior" website for self directed transactions. And adding insult to injury, they charge highest trading fees $10 or $20. To name a few. I agree with all of the single starred comments. I wonder how this firm continue to survive in this market!! They seem to operate with impunity ..

by Sean, 4/4/2018

Pros: Almost no pros other than my employer choose it for 410k

Cons: Worst platform, no comparison to any other brokerages (Fidelity, E-trade, Vanguard)

Service is poor as well

by Darla B, 10/9/2017

Pros:

Cons: Did not have my best interest

Called with question on best way to convert 401K from previous employer so I could pull $20K out to close on a home purchase. They talked circles around me, and I was made to think I had converted my old 401K into an IRA, then they were pulling the $20K from there. Actually, they took $27,000. from my old 401K, charged me $7000. tax, then moved what was left over to an IRA. I didn't quite understand what had happened, kept asking why I was paying tax, when all I wanted to do was roll it over and then take out a loan I could repay in 6 weeks.

They did a partial rollover after they withdrew it from my 401K. These people are crooks. No mercy for the little guy at all. I'll be withdrawing all my money from there and going somewhere else. Now I'm stuck with this huge tax bill that I shouldn't be paying, if they had been doing right by me, the customer.

Will tell everyone I know not to do business with them.

by Widow, 10/6/2017

Pros: None

Cons: Terminally ill widow left to large pay tax bill on T. Rowe mistake

Elderly widow inherited husband's T. Rowe accounts. Very small amounts. Her children closed all the accounts after the accounts lost too much money, as mom used that money to live on and could not afford to lose any of it. After closing all the accounts, mom receives long letter from T. Rowe explaining that due to T. Rowe's error regarding withdrawing the correct tax amounts (T. Rowe did not withdraw the correct tax amounts), one of mom's smallest accounts was now in debt to the IRS several thousand dollars, and T. Rowe would not take responsibility for any of it. The account had been closed for quite some time at this point. Penalties and interest were added during the years that T. Rowe neglected to notify any of its customers that this had happened, and still T. Rowe would not assist in any manner. Mom has huge tax bill now, as a result of T. Rowe's error, and the IRS does not care that she is a terminally ill, bed-ridden 84 year-old widow. And neither did T. Rowe Price. T. Rowe Price's incompetence is staggering. Currently researching class action.

by , 9/9/2017

Pros:

Cons: I can't imagine any worse customer service

As the trustee of a trust with multiple mutual funds at TRP, I've had to jump through hoops just to get a straight answer from anybody in customer service. Each time I call, it's a different answer. I sent some account change documents in using their prepaid envelope and now they claim they never received it. At first, they blamed the hurricane in Texas. Now, they are blaming the post office. Of course, it couldn't be that the right hand doesn't know what the left hand is doing. You can leave a message and you might as well be talking to a toaster. They have the worst customer service of any fund group ever, and I've dealt with at least a dozen in the last 2 years. My advice is to stay away.

by I.M. Frustrated, 9/6/2017

Pros:

Cons:

I have multiple accounts with T. Rowe Price. Worst customer service. Have to go through the automated system even if you have a general question. Customer service reps are not knowledgeable. They have to put you on hold to go ask someone else. You can't talk directly with someone that can answer a question. I received a different answer each time I called. They have to call you back in order to make an appointment with the Investor Center.

by Bill Farthing, 8/22/2017

Pros:

Cons:

I've been a mutual fund stockholder with T Rowe Price since 1995. I have taxable accounts and retirement accounts with T Rowe Price.

On August 11, 2017, I called a general 800 number at T Rowe Price to speak with one of their representatives regarding initiating a rollover from a previous employer's retirement program into a T Rowe Price retirement fund. The representative that initially answered the phone stated she would transfer me to their retirement services dept. I waited on-hold for an hour and six minutes...... very frustrating...., and then decided to call again on another line. This time I was transferred to a T Rowe Price representative named Jamie Dietz, who was pleasant and extremely helpful. Ms. Dietz fully understood what I was trying to accomplish and transferred me quickly to another TRP rep named Kelly Coats-Carter, who provided me with exceptional service, completely took care of all of my concerns, initiated a 3-way call with Merrill Lynch (my previous employer's retirement manager) to enact the financial transaction, and after all that was taken care of, Ms. Coats-Carter put me in-contact with a single-point-of-contact TRP representative so that I could get responses to anything I needed in an expedient manner with no additional charges or hidden fees. My utmost compliments to Jamie Dietz and especially Kelly Coats-Carter for their exceptional customer service!!!! I wish Vanguard would provide me with that type of positive customer service. Great Job, Jamie and Kelly! You took care of all of my concerns with great courtesy, professionalism, and expertise. Thank You!

by Brett, 6/26/2017

Pros:

Cons:

Worst company I've ever tried to do business with. No one who answers the phone seems able to articulate their rules or regulations with any level of consistency. But the answer to anything you are trying to accomplish is always no. Hours and hours of wasted time just trying to accomplish a simple transaction. Stay far away.

by Anti T Rowe Price, 6/9/2017

Pros: NA

Cons: TERRIBLE customer service!!!!

This company has terrible unethical business practices. Reached out to them to get a hardship withdrawal to prevent losing my home. It has been a week, and I still don't have the funds or an approval or denial. I've overnighted, faxed and called everyday this week. Still no answer. Finally today I was told that the hold up was because my wife was calling to follow up instead of me. This has been a terrible experience. I would not recommend investing with this firm to my worst enemy.

by Ann V, 5/1/2017

Pros: None

Cons: Everything they do...

Updating an issue that still isn't resolved since February 6th. It's amazing how bad these people are. They would save a lot of money if they got rid of their customers service department since they don't do anything anyway. My information on their website still doesn't show correctly and they haven't done anything to fix it...one more month with them and then we move back to Fidelity...I can't wait. If I could give them zero stars I would have. Don't give them your money. Just look at all the one star remarks below.

by BAS/MJS, 4/27/2017

Pros:

Cons:

Made us go to city hall for a notary stamp to a change of contingent beneficiary on an IRA (from individual to trust for benefit of individual.) Only bank, brokerage, fiduciary or life insurance company that required a notary stamp to make this minor change consistent with an updated estate plan. Very customer unfriendly.

by Ann V, 4/20/2017

Pros: There are none

Cons: Worst service ever

DO NOT PUT YOUR MONEY WITH THEM!! WORST SERVICE EVER!!

I've been trying since February 6th to get them to fix the information on my account. Not everything shows up. Every time I emailed I got the same canned response. I started talking to their customer service who claimed it would be fixed in a few days...that was over a month ago. They will not call back and each time I talk with a new individual I get the same response almost word for word. They promise to fix it and call back but never do. Even after I talked to a Supervisor. I would never have picked them but this is my 401K from work. My company moved 2500 accounts from Fidelity to T Rowe Price 1 1/2 years ago. This June they are moving it back to Fidelity. I think that speaks volumes as to what type of company this is. I can't wait to be back at Fidelity.

by Nancy Phillips, 3/29/2017

Pros: nothing

Cons: Terrible customer service

rude employees, supervisors are worse than the employees who answer the phone

by US Navy Vet, 3/10/2017

Pros: None

Cons: Unprofessional. Unorganized, No Service, rude

Mom died. Her account is in the name of the trust. I am the legal Trustee. TRP told me what to send them. New account form, transfer doc, original death cert, re-notarized cert of trust,medallion signature. Now they call me and want me to revise docs and resubmit. The legal department states that my certifications of trust is non applicable. They want me to recreate a non revocable trust of someone who has already passed? They also sited other parts of the trust they need that they already have. Who are these people? My estate planner has stated that in all his years of doing this he has never seen anything like this. Nothing they are now asking for makes any sense. I have provided less to other brokerages and everything went like clockwork. TRP is going out of their way to make all of this difficult and impossible. You should be ashamed.

by Cee Bee, 3/8/2017

Pros:

Cons: T. Rowe Price Lacks Attention To Detail

T. Rowe Price Lacks Attention To Detail... the first time I set up 2 grandchildren UGMA_UTMA accounts...key here is "children"...T. Rowe Price set up a JOINT account as though the children were married. I mailed a letter to T. Rowe Price to have the joint account separated as 2 individual children...ugh... UGMA_UTMA account addresses are a pain to get corrected in their system. After mailing a letter and using T. Rowe Price's secured email to correct all UGMA_UTMA addresses, one of the UGMA_UTMA accounts STILL has rejected address status. T. Rowe Price does not read or respond to their secured email...back to calling AGAIN repeating everything said in mailed letter and secured email.

by KELLY, 2/15/2017

Pros: NONE

Cons: THEY DON'T ADVISE PROPERLY AND WILL NOT RESOLVE MISTAKES THAT THEY MAKE.

I contacted T. Rowe Price to withdraw from my 401k account to purchase a home. I took out a "hardship" withdrawal from my account and was asked if I wanted federal and state taxes taken out of the withdrawal PRIOR to me receiving the funds and I approved. I thought that the amount was based on my exemptions, so I gave them "1" for my exemptions. The form that was mailed to me did not account for that, so a person from TRowe Price called me to ask me about what I put on the form. She said that it didn't work that way and I would need to tell them how much tax to take out. I asked them what the proper amount of tax was and she said that it used to be 20% but now it's just 10% for federal and about 3% of the federal for the state tax. I asked her specifically, IS THIS ALL THE TAX THAT IS OWED BASED ON THE AMOUNT TAKEN OUT, and she assured me that it was the proper amount. Well, when it came time to do my taxes, my tax accountant told me that THEY DID NOT TAKE OUT THE PROPER AMOUNT OF TAXES AND IN FACT, THEY DIDN'T TAKE OUT ANY TAXES, THEY ONLY TOOK A "PENALTY TAX" which is assessed when withdrawing money before my 59th birthday. As the financial advisor, TRPrice DID KNOW OR SHOULD HAVE KNOWN that the amount taken out for taxes did not satisfy the amount of tax due. They HAD A DUTY to advise me to contact a tax professional to ask about the proper amount of tax to take out for ME. As a result of their breach of their DUTY, I am now owing the IRS over $5,000 for federal taxes and over $2200 for state taxes. Prior to this withdrawal, I had a refund from federal taxes of $1700 and a small amount for state. So, in essence, TRPrice cost me over $10,000. They breached their duty to properly advise me.

by "lost" multiple funds transfer requests, 1/6/2017

Pros: not broker, IRA release process

Cons: not broker, IRA release process

They literally lost three separate electronic transfer requests, which meant that it took nearly three weeks to release MY money... utterly clueless. Didn't even acknowledge that they had made the test bank transfer request when they were COMPLETE (to prove ownership of my bank account). They simple refused to comply, even with the bank statements in hand. Will never work with them again.

by Ssb, 1/5/2017

Pros: The worst brokerage house in the country!

Cons: The worst brokerage house in t he country!

They are inept. They have no knowledge. They must be fifteen. They do everything not to release my money from my 401K. I am searching for an outside firm. I totally hate working with them. Tonight they kept me on hold for 30 minutes. I think they thought I was going to hang up. I will be calling management in the morning.

by Andrea, 12/12/2016

Pros:

Cons: Incompetent and exhausting to work with

They are unable to preform the most simple tasks and transactions. It took over 7 phone calls to have a retirement rollover check cut and it was done wrong. I called to have the check re-cut and I was told they would call me back when they solved the problem. They never called back. They are exhausting to work with. Avoid working with them at all costs.

by John Rams, 11/3/2016

Pros: Seem to have ulterior motives...

Cons: Holding a handicapped man's minor amount of money from him: Most recent letter sent to T Rowe Price

I am POA for my handicapped brother J... R..... He has requested four times for you to send him his account balance ($1500) or face an annual statement charge. You are holding his money hostage like other credit unions have tried to do. Either forgoe the charge or send him his money. Last request.

I have sent you my poa docs at least twice, and it was affirmed with your rep on the phone, yet you, now, claim otherwise. I will write reviews of your treatment of a protected class person and turn in complaints regarding any charges you impose on his account. He refuses your annual charge. No one has time for your nonsense and hoop jumping for $1500. He is on foot and does not have an area bank with a signature guarantee (no accounts at banks with this service)and I have been left to handle this situation for him over and over. I am sick of your abuse and am going to make my voice heard over my lost time trying to help my brother retrieve his money in lieu of your threatened imposed charge to a handicapped person. Your company is the fraud-your letter is very offensive.

by Gary Clark, 9/12/2016

Pros: None

Cons: Can't get current account information on day of transactions

I have never seen anything like it. Even though everything is computerized (presumably), I can't get current account information on the day of. I have to wait until the next day. I guess they have accountants in green eye shades working in the back room overnight, totaling up all of the transactions that day. I am with this crummy outfit only because my employer chose to transfer all retire accounts to it. However, it took TRP more than 30 days to make the transfer from the old brokerage, during which time no trades could be made. That is the only thing keeping me here, the threat that TRP will tie up my accounts for more than another month when I try to transfer them to Fidelity. I fail to see why anyone would have their investment accounts with this slipshod outfit.

by Ralph, 5/8/2016

Pros: None

Cons: Clueless

Both my parents died last year and after 42 pages of forms and 12 phone calls
finally released their 401K money to Fidelity.
During tax preparation this year my accountant noted an obvious error.
On my 5th phone call with an agent they are still checking my ID every time
but have totally stonewalled on the problem. They appear to stall until you are tired of dealing with them and leave your money with them. Take your money and run.

by George Elliott, 4/15/2016

Pros: NONE

Cons: Right hand knows NOT what the left is doing

Got in this trap because my job was bought out by another company. They chose TROWE for the 401K. Now I am retired and trade stock weekly. I have a Fidelity and Scottrade account also. The TROWE money has been in a fund for two years so I haven't dealt with the web site much. Now they tell me the web site is new and improved to make my life easier. It's by far the worst site I have encountered. After fighting the site for the first four months of this year I decided to move the money to Scott. Filled out the paperwork with Scott two weeks ago and no transfer. Scott said they applied for the money three times and was turned down. Called TROWE and they first sent me forms transfer money to them (HA HA) now they can't find the problem and will call me later. I'd bury my money in the yard before I'd use them if I ever get away from them.




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