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Senior Retirement Tips :: Wells Fargo Retirement
Wells Fargo Retirement: A Review of the Retirement Services Offered by Wells Fargo
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Wells Fargo Retirement Services is a branch of Wells Fargo - a national U.S. bank. If you're considering using them as your retirement investment provider, keep reading for an overview of their customer service, available programs, fees and online tools.
Customer Service
A major advantage of choosing Wells Fargo retirement services is that they can actually offer on-location and in-office customer service and consultations. Unlike other firms, such as Great West, who only offer telephone services, individual contributors and clients can visit a local branch to get advice and meet personally with their individual advisor.
Another customer service benefit is the focus that the company puts on individuals who own their own business. Entrepreneurs and small business owners often have trouble with the challenges and tax issues around planning for not only their own retirement, but also the retirement of their employees.
Wells Fargo offers great 401(k) plans and services for small business owners – making the process simple and easy.
Unfortunately, the one major drawback is the customer service fees and charges. Simply put, Wells Fargo charges far too much for its services, hitting customers repeatedly for small fees for services like adjusting investments, making withdrawals, changing plans or even online services.
Their commission fees for trades are higher than most and if they want to retain customers, they should reduce those add-on costs.
Tools and Programs
One of the best programs that Wells Fargo has to offer is their rollover service. Unlike many branches, Wells Fargo makes it very easy to consolidate all your IRAs and 401(k) accounts in one place. They'll help you with all the paperwork and walk you through the entire consolidation process.
Of course, doing so is in their best interest, but it makes you wonder why more financial institutions aren't more on the ball with this one?
Online Tools
Like most retirement investment companies, their online retirement calculators are simply too simple. They don't allow for the adjustments that come with everyday life - whether it's paying for the kid's college tuition, planning for annual vacations, dealing with increased health care costs or even ceasing to save for your retirement.
Essentially, it's a basic retirement savings calculator that offers little in the way of advice or customized options.
Customers are much better off scheduling an in-person appointment with a Wells Fargo retirement specialist than dealing with their online tools. They'll find the service infinitely more personalized, on point and pertinent to their own, individual and family situation.
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SeniorRetireTips.com :: Wells Fargo Retirement