American Century

I started investing with a money market account, then an IRA, college fund for my son (no student debt), my wife's IRA. Now my family's net worth with them is over $700,000. Thanks for all the help American Century!

My wife spent several weeks attempting to transfer money out to another institution. They require a very non-standard "letter of acceptance" from the other institution. The other institution never heard of such a request and made two phone calls clarifying what was required. After several more phone calls talking to supervisors and managers, the money is still not successfully transferred. Perhaps we will need to hire an attorney to get the money out. Whatever you do don't give this firm any money. It will be a living hell trying to get it out.

ACI’s "customer service" is unable to provide simple information, and wastes hours of client time providing misinformation, because their agents can’t understand simple English and/or don't understand basic investment terminology. There is no longer any way of contacting "customer service" without wasting hours navigating their "FAQ" responses, only to be told to "telephone us". Their telephone system was designed by an idiot, and ensures an irate customer when/if a live agent ever comes on the line. Their website is riddled with inaccuracies in data and information, as well as the gross misuse of the English language. Their "statements" are inaccurate and incomplete. Their CEO's response to valid feedback and/or complaints about the website and/or customer service, is inaccurate, inadequate and insulting rhetoric, followed by "please take your business elsewhere".

Unable to log in to account. Account number provided as requested. Poor website. Also the company rule not allowing withdrawal of money if individual starting the account has passed away is shameful.

Back in 1988, I opened 2 gift trusts for my children with 500.00 each funding the acct. I opened them with only enough money that it was not a hardship to me, in case the investment did not do well. Today you must have 2,500.00 to open a gift trust. My son, who recently had his 40th birthday (2015) received his gift and it had matured to about 3,800.00. Did it dip when the market went down? Yes. Did it go up when the market went up? Yes. It was in the fund for around 26 or 27 years. I could choose the length of time. I believe now it must be at least 10 years. Keep in mind, it's important to open a gift trust when the market is down, then it will only go up.

15 years ago, the attraction to AC Gift Trust was its promotion that the child will receive on his/her 18th birthday a check to his name and address in the amount of the monies gifted (now $4500). Well, just learned this is just not so. On his 18th birthday, the money will be shipped into another investment "vehicle". (Oh first, he will have to set up this new account online for access. However, this information to set up this new account will arrive after his 18th birthday). Then after all this is done can he access his money. So, no more mommy "surprise" because he has to first call AC to "red tape" his way to his last present mom can afford to give his before he leaves for college in two months.

18 years ago, my grandmother, through the ill advice of her son-in-law (my uncle) took out a gift trust account through American Century for $1000 in my son's name. The fund did not make money for years and has just now - 18 years later - doubled. My son would like to take this money and use it for his tuition but, since my grandmother is long since dead, he cannot get her signature to get the money out. The company told me I should get an attorney, and send a letter to their Missouri office to see if they would grant him the money.

I invested $1,000 for each of my four grandchildren when they were infants. After 17 years in the fund, the value did not even double. I had hoped that the fund would provide significant college tuition payments. What a lousy performance for supposedly professional fund management. Twentieth Century should be ashamed and the fund managers should be fired.

My mother opened a trust fund 18 years ago. It has not even doubled in 18 years. You also cannot ever move it out due to her passing away. It is a scam and does take away from the children it is supposed to help. The fact you cannot move it after the grantor passes away is either totally illegal or should be. Stay away. In the end, the gift will not be worth giving!

I feel that this fund is a sham. Investments have to remain in the fund for 10 years. I opened three funds in 1995 and regularly invested in each one. The funds continue to lose money at an unacceptable rate. A successful company as American Century cannot have such a poor-performing fund. They are ripping off innocent children, and that is wrong.