Complaints

• Initial Complaint

  07/30/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I quit my job for another on July 8th. Once I received my final check, I contacted Newport to cash out my 401k. I was told that my status wouldn't be updated until the payday after my final check. On that date, July 29th, I contacted Newport again. I was told my status was still not updated and there was nothing they could do until my employer updated my status. After checking with my employer, my status has been updated. I was shown where I was marked "Employment Terminated" in ADP. $60k is a lot of money of money to have tied up, while being given the run around. Especially when i intended to use this money for schooling which is fast approaching. I am not the only recently departed employee having this issue, and would like it resolved.

  Business response

  08/16/2022

  Business Response /* (1000, 5, 2022/08/11) */ Thank you for forwarding. We have been in touch with the complainant for resolution. Consumer Response /* (2000, 7, 2022/08/12) */ (The consumer indicated he/she ACCEPTED the response from the business.) Thank you for the quick resolution.

• Initial Complaint

  07/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I have a ESOP account with ***** foods that is being managed and kept with Newport Group. This is year 5 which is when I understand I can collect my Distribution. They have failed to send me my annual statement as well as they locked me out of my online access. I called this morning to speak to a representative to clear this up and get information about MY money. He was rude and arrogant and after I gave him my Social Security number, Date of Birth, Home Address and all Vital information he asked for a Security question answer. First of all I do NOT remember EVER creating ANY security questions, I told him this. He rudely said "what's your favorite pastime" and I of course was like well that's a pretty vague security question, is there another there that I could actually answer? He yelled at me that there are two and they both have to be correct. Then he said you have to call *****, I can't talk to you anymore and hung up on me! This is alarming considering they have a substantial amount of my money. PLEASE HELP! This is not a very professional way to deal with other people and their money.

  Business response

  08/16/2022

  Business Response /* (1000, 5, 2022/08/11) */ Thank you for forwarding. The employer has worked directly with the complainant and we consider this resolved. Consumer Response /* (2000, 7, 2022/08/12) */ (The consumer indicated he/she ACCEPTED the response from the business.) I do accept this because I ended up going directly to ***** Foods to handle it and fix the issue. However this was a huge inconvenience and cost me a lot of my personal time and running around to do what Newport should have been able to handle for me. After all isn't that what they are paid for? To handle my ESOP and work with me to obtain my own monies. If they force a person to go directly to WINCO then why are they the middle man collecting a paycheck??? And treating people like low level criminals because they can't answer a security question they never created! Thanks!

• Initial Complaint

  07/18/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been trying to get my 401k money rollover to my Td ameritrade account. After a lost check they were to overnight one. Courtney was the girl I talked to go, gave her acct number and overnight address. After a few days I called in to see where my check was. The man I talk to told me it would take 7 business days before they could reissue a check and I was like **** ****. He was offended by my response and hung up on me. I called back and asked for assistance, and I am still waiting on my check. They delayed many times to ask questions even to verify the account number of my TD ameritrade. They don't want to issue the money it's been over a month! Unacceptable

  Business response

  08/24/2022

  Business Response /* (1000, 8, 2022/08/11) */ Thank you for forwarding. We have made efforts to contact the complainant and this has been resolved. Consumer Response /* (3000, 10, 2022/08/12) */ (The consumer indicated he/she DID NOT accept the response from the business.) Yes I did receive my money. However they had my money 200k for two months which I could have got interest of off not to mention they charged fees. I should have received 500 for compensation !

• Initial Complaint

  07/15/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I received an email stating my retirement plan info was available online. I'm not sure who the Newport Group is or what I company I was working for that used this group. It does not sound familiar so I'm assuming a name change or the original group was sold to Newport. I'm 64 so trying to get all my retirement in one account. I called and explained I didn't have a log in, the HORRIBEL CS rep (she was rude and said she didn't care what I said and there was no supervisor available for me) I attempted to login and say I forgot my password, which apparently I have. Because I have no challenge questions saved and I can't tell the awful CS rep what employer this was for, I can't have access to my account. I also think, in this day being asked to give your full SS# is a terrible idea. I answered every other question she asked, just didn't know what employer this was for.

  Business response

  08/03/2022

  Business Response /* (1000, 7, 2022/07/27) */ Thank you for forwarding. We attempted to contact Ms. ***** by phone several times as well as emailed her directly to resolve the matter. Consumer Response /* (2000, 9, 2022/07/28) */ (The consumer indicated he/she ACCEPTED the response from the business.) Yes they did attempt to call about 5 times a day for 2 or 3 days. I was at work and could not answer when they called. The tone of the VM's was mean and comments such as We've called you 2 times, call us back. Just as nasty as the CS person. I will be getting my funds out and I would not recommend this group to anyone!

• Initial Complaint

  07/15/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Newport Group has refused to transfer the assets from my IRA as requested. Originally began communication with them on 02/26/21 requesting said transfer. Communication has been ongoing since then. I sent a letter on 3/4/21 exercising my right to revoke my IRA account and have the full balance of my account returned to me, pursuant to the requirements detailed in the paperwork Newport Group provided to me. This was also confirmed with a supervisor (Ms. J********) at Newport Group. Newport Group claimed to have never received the letter - the USPS receipt it attached. Since my initial request, I have spoken with several representatives and supervisors, yet Newport Group has taken no action to remit my funds to me as they indicated they would. There have been additional fees charged to my Newport Group IRA and I have lost out on the opportunity to have these funds appropriately invested. In addition to their failure process the transfer of my funds as requested Newport Group also: 1) failed to properly notify me of important disclosures and rights I have as an account holder. Newport Group representatives went so far as to directly deny said disclosures & rights even existed until I pointed them out on their own account paperwork. 2) provided me with paperwork that was incorrect, grossly out-of-date and in line with current SEC and FINRA standards and disclosure requirements. 3) consistently failed to follow up in a timely manner, with most recent communication never receiving a response.

  Business response

  08/22/2022

  Business Response /* (1000, 5, 2022/07/26) */ Thank you for forwarding. We have reached out directly to the complainant to resolve the matter.

• Initial Complaint

  06/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Appears I have joined the list of Newport Groups victims! A withdrawal request was made from my retirement plan on 6/16/22. Newport Group processed the request on 6/18/22 and mailed the check-allegedly. To date the check has not been received. A call was placed to find out the status of the check. Since I had not received the disbursement- I was told that I would need to have the withdrawal re-issued- for a fee of course. A fee of $75.00 was already paid to them to get my money- fair enough on that. But this seems to be a recurring issue with Newport Group.

  Business response

  08/08/2022

  Business Response /* (1000, 5, 2022/07/07) */ Thank you for forwarding. We have reached out directly to the complainant and the matter has been resolved.

• Initial Complaint

  06/21/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I left my former employer for a new job and was terminated in the Newport group system by my employer. I requested disbursement of my account last week and it is still in review status by Newport... meanwhile checking my account it seems like I am continuing to lose money daily because of the way they have it invested. I have reached out and gotten no adequate response on when my disbursement will be approved, only being told that checks arrive 7-10 business days after approval... I know that, but how long does it take for approval, and how do I guarantee that I will get the money I asked to have disbursed instead of the balance that remains after the losses since I filed for the disbursement?! I have seen previous responses here from Newport asking for the name of people's employers. I am not putting any personal information here as they already have all of my and my former employer's info on file. To resolve this, I would like my disbursement approved ASAP and my funds released to me immediately in the full amount they were when I requested disbursement not in the amount remaining since I requested disbursement since some of the funds have been lost since then because of their bad investing.

  Business response

  08/05/2022

  Business Response /* (1000, 5, 2022/07/01) */ Thank you for forwarding. We have reached out directly to the complainant to resolve.

• Initial Complaint

  06/04/2022

  Complaint Type:

  Delivery Issues

  Status:

  Unresolved

  More info

  Newport was to have sent my withdrawal check over a month ago. Several calls later, I have to pay to stop payment on a check, out of my pocket, they say was sent but usps never received it, so I never received it. Seems to be a scam to keep more of your money. I just want my check. I'm tired of calling and getting talked too like I'm stupid by these rude customer service reps because they lie about sending your check

  Customer response

  06/08/2022

  ***Document Attached***
  
  See Attachment/File: Screenshot_20220606-072003_DuckDuckGo.jpg

  Business response

  06/09/2022

  Thank you for forwarding. Please supply the name of the employer that provided the retirement plan so that we can investigate and respond to the complainant directly.

  Customer response

  06/10/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  Darling ingredients is the company that provided the retirement plan

  Business response

  06/15/2022

  Thank you for forwarding this info. We have reached out to ******************** directly.

  Customer response

  06/16/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  Nobody has directly reached out to me, via email, phone, or text message. Its not difficult to figure out... just send my check, overnight, on your dime, since none of this is my fault.

  Business response

  06/17/2022

  ***** KEEP OPEN hold (EXTERNAL) BBB Complaint Case# ******** (Ref#***-162544488-********-15-3300)
  External
  Inbox
  
  **********************
  12:22 PM (59 minutes ago)
  to me, *******
  
  Hi *****. We have reached out and left messages at the number listed on the complaint. We have a ***** confirmation of a May delivery. Will you please hold this open a bit longer so we can try to understand why he didn't receive the voice mails? We are only discovering today he didn't get messages.

  Business response

  06/29/2022

  Business Response /* (1000, 6, 2022/06/09) */ Thank you for forwarding. Please supply the name of the employer that provided the retirement plan so that we can investigate and respond to the complainant directly. Consumer Response /* (3000, 8, 2022/06/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) Darling ingredients is the company that provided the retirement plan Business Response /* (4000, 10, 2022/06/15) */ Thank you for forwarding this info. We have reached out to Mr. ******** directly. Consumer Response /* (4200, 12, 2022/06/16) */ (The consumer indicated he/she DID NOT accept the response from the business.) Nobody has directly reached out to me, via email, phone, or text message. Its not difficult to figure out... just send my check, overnight, on your dime, since none of this is my fault.

• Initial Complaint

  05/26/2022

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  Newport Group has to be the worst retirement/401k business to use. A company I no longer work in a state I no longer live in used Newport Group for our retirement/401k fund. March 17, 2022 I updated my contact information via email the way they requested as well as requested a withdraw check from my retirement. I requested the full amount. Even though its 2022 Newport Group cannot wire/online transfer or do direct deposit. Newport Group told me it would take 7-10 business days for the check to be mailed and I received it at my new address. It is now May 26, 2022 ... where is my money?? It has been well over 2 months, going on 3 months. Since March 2022 I have called over 10 times and spoke with over 10 different people that all had the same response. Newport Group can do a stop payment for a fee and it would take them 5-7 business days for the stop payment then another 7-10 business days for the check to reach my mailbox. Well that makes it feel like a scam! The most recent time I asked to speak with a supervisor because there's no way Newport Group is going to make me pay a fee when it's not my fault. I was told Newport Group cannot track the mailed check or even see if it was cashed somewhere else. This might be a scam! I just want my money ASAP! It's been over 2 months

  Business response

  06/24/2022

  Business Response /* (1000, 5, 2022/06/09) */ Thank you for forwarding this. We have worked directly with the complainant to resolve this. Consumer Response /* (2000, 7, 2022/06/10) */ (The consumer indicated he/she ACCEPTED the response from the business.) After posting my complaint on BBB I received a phone call from Newport Group within 48 hours to basically get the exact same response as I did from the previous 10 times I called since March 2022. I told the representative that I should not pay the $30 stop and reissue check fee ($30 per check, so I had to pay $60!) because it is not my fault that Newport never sent my checks nor had a tracking on the checks nor could they see if it was cashed or not. Unfortunately, for the me, the customer I still had to pay the $30 fee per check even after fighting it. I asked if they could track it this time but the rep told me the only way for them to track the check was to sent it overnight which was an extra $60 .. like come on this is a joke. Would you believe 1 week after Newport Group reaching out to me, after filing a complaint with the BBB I received both of my checks in the mail ... This is why I am sticking with what I said and it proves my point. Sure I got my checks, SOME of the issue was resolved but the way about this whole process is unfair to the customer and still feels like a scam.

• Initial Complaint

  05/16/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am trying to transfer my account out of Newport Group and into my new employer's retirement plan. I logged in to begin the process and realized I was charged $20 in random administration fees. I called to ask what those were for and they said it was because I'm no longer employed by the company - I stopped working for this company almost 8 years ago - I had never been charged fees to let my money sit there. Next, I need to change my name as I got married and need to transfer my money out. They refused to accept a Driver's License, Social Security Card, Passport, and Marriage Certificate, all which are government recognized documents and legal documents. They said the only way they will change my name (and thus release my money) is if I submit a GAS or WATER bill in my new name. I do not have a gas or water bill in my new name. the only other option is to go to a notary - which will take time out of my day and cost me money. I have never had an issue with any other financial or government institution when it comes to changing my name. I have never once had to show a gas or water bill. They are holding my money hostage and refuse to change my name to my legal name so that I can transfer my account. I want my name changed on my account, transferred over, and a refund for the ridiculous administration fees. What a scam.

  Business response

  08/05/2022

  Business Response /* (1000, 8, 2022/06/02) */ Thank you for forwarding. We have reached out directly to the complainant and the matter has been resolved. Consumer Response /* (3000, 16, 2022/06/20) */ This was not resolved. The business lied, they have not reached out to me nor fixed the problem. Please reopen the case. Business Response /* (4000, 20, 2022/07/07) */ We work with employers to provide retirement plans to their employees. Our client, the complainant's previous employer, has been working to resolve this issue. Ms.********'s voicemail was full during phone reach outs, so she was emailed detailed instructions on May 20th asking her to contact her previous employer. To resolve this issue, her previous employer will be contacting her directly today (7/7/22) to confirm/correct the new information. Thank you.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩