American Century
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Based on 8 reviews that contain star ratings

American Century

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17 American Century Consumer Reviews and Complaints

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Rated with 1 star
Verified Reviewer
Original review: Aug. 16, 2018

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.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 22, 2018

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".

8 people found this review helpful
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Rated with 2 stars
Verified Reviewer
Original review: Feb. 10, 2017

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.

22 people found this review helpful
Rated with 5 stars
Original review: July 25, 2015

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.

This is an investment vehicle like playing the stock market. You don't want to jump in when everything is high. My grandmother had invested money into gift trust accounts for me and my siblings before she passed away in 1995 (20,000.00 each). These accounts came due in 10 years and we watched them all go down in value, only to barely reach the original investment made 10 years earlier. Yes, they did poorly, but my grandmother invested at a bad time, when the market was high. You need to do your homework and invest wisely. My daughter has not received her gift trust yet, but will in a few more years. I don't know if her investment will stay where it is right now or not, but if it goes down, it's nice to have the money transfer to another non-gift trust fund at maturity, and then she can decide if she'd like to keep it invested longer or withdraw the money right away.

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11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 17, 2014

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.

21 people found this review helpful
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Rated with 1 star
Verified Reviewer
Original review: July 22, 2013

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.

How does that strike any of you interested in investing with American Century? (They do what is illegal and then tell you you have to get an attorney to get your money out!) Originally they set it up that the money couldn't even be taken out with the grantor's signature, so they were allowed to hold it no matter what. That was ruled illegal, but when the law changed, I was not made aware of the fact that he could get this money out. What a deceitful company. We invest money for our kids but unfortunately my grandmother thought my uncle knew what he was doing and went with this company. Do not invest with a company that does not work for the good of its clients. The return was awful and it's policies are almost illegal. (And actually were proved illegal.)

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29 people found this review helpful
Rated with 1 star
Original review: March 26, 2013

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.

36 people found this review helpful
Rated with 1 star
Original review: Jan. 23, 2013

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!

19 people found this review helpful
Original review: July 13, 2010

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.

The kids would have more money today, if they just would have saved it in a piggy bank! How sad is that?! Shame on American Century! There is a minimal expectation that a fund will yield some profit after 17 years. The fact that one cannot remove their money is fraud, and it creates an economic hardship.

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18 people found this review helpful
Original review: May 28, 2010

04/28/2010, sent three (3) account transfer requests to E*Trade to have three (3) of my American Century accounts transferred to E*Trade.

05/14/2010, received a call from E*Trade saying that two (2) of the requests had been processed, but the third, for the Growth account had a problem. They told me they spoke to Dominquez at American Century and he told them I needed to contact American Century for additional information on the problem. He would not tell E*Trade anything else due to privacy laws. I contacted American Century and spoke to Tony. He said that he could assist me with my request. I told him about the three (3) transfer requests and that one (1) of them (Growth) had a problem according to American Century. He researched the issue and said that he did not see a problem and that in fact the transfer for the Growth account was in outbound processing and should be gone by the 14th of May or the 17th of May.

05/15/2010 Two (2) of the transfer requests from American Century were posted to my E*Trade accounts. 05/17/2010 to 05/22/2010 Continued to monitor my E*trade account for the Growth transfer to be posted, but have not seen it yet. 05/25/2010 Contacted E*Trade and spoke with Jermaine. He said he would contact their department that handles transfers and see what they can figure out. He told me to call back Thursday or Friday and he should know more then. 05/27/2010 Contacted American Century and spoke with Roland. Asked him about the Growth transfer request from 04/28/2010 and told him about my subsequent conversation with Tony on the 14th of May. He did some research and said he needed to put me on hold while he talked to his supervisor. When he came back on the line, he told me that American Century never received a request to transfer the Growth account and I would have to talk to E*Trade about submitting a request. He could not tell me why I received the information I did from Dominquez and Tony about problems/no problems. I contacted E*Trade and spoke with Gail who said that E*Trade had submitted another request on the 25th of May to have my Growth account transferred. So why do they still say they have not received any requests when they have received it multiple times?

Based on the trades, I would have done on the 17th of May, if the Growth account had been transferred with the other two (2) accounts and the prices as of 05/26/2010 of the currency ETF(s) I was going to buy after selling the Growth, American Century and their ineptitude has cost me $1,097.15 so far in additional appreciation to my account. $1,097.15 is a lot of money to me and based on their responses to my inquiries, I believe their actions or lack of warrant them owing me that amount of additional money or more depending on when they actually transfer the account.

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22 people found this review helpful
Original review: May 9, 2009

My 3 children were given $250 American gift trusts in 1995. 2 of my children added $1000 in 1996 that they earned hauling hay. At no time did these funds make money. In 2005 when they were allowed to withdraw these funds, they had $200 less then they started with.

22 people found this review helpful
Original review: March 12, 2009

WIll not allow us to get out of Giftrust fund--peformance has been abysmal. Said Grantor must sign documents to get out. Grantor died but her husband has power of attorney to execute any documents requiring decedent grantor's signature. Amer. Cent. said that is not enough and I need a court MO order. OMG!!!!!!!!!!!!

18 people found this review helpful
Original review: June 23, 2008

I invested two gifttrust accounts for my daughters' education and the money I had invested is decreasing. What's going on?

I'm very worried because they look forward to recieving a college education but I'm not sure how I'll pay for all of it.

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10 people found this review helpful
Original review: June 25, 2005

I opened my IRA with American Century years ago with a nominal initial investment. My IRAs are now over $5,000.

In trying to teach my son about investing, I suggested he open an IRA with American Century.

How is a 16-year-old supposed to get the motivation to save with requirements of minimums of $2,500?

I will now direct him to where my other investments lie: Wells Fargo. Glad I directed a single mother of two friend to Wells Fargo when she wanted to move her $1,000 account with monthly incremental investments.

I just may move my Am Century to Wells Fargo.

Thanks for opening my eyes to your high-brow attitude, American Century.

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13 people found this review helpful
Original review: March 30, 2005

My complaint is the same as Larry

of Toms River, NJ dated 1,04. My husband and I, in all good faith, started trust funds through 20th Century Gift Trust- now American Century Gift Trust -for 6 of our grandchildren. We emphasized to these children the importance of saving. Needless to say, this fund was a disaster and we could not take the money out - we were stuck and we had bitterly disappointed children. These funds were to help with college, although with tuition the way it is today, now they might be able to buy a book or two with what is left.

One child, Jarratt, had $6612 in Aug. 2000. He now has a little over $2000.

This is pathetic. Is there NO management of the funds whatsoever ?

The chidren could have done better. At least they could have taken their money out and put it in a piggy bank and been better off.
Now AC will let you withdraw the funds. We are filling out the papers

now. They, AC, said they sent out notices informing us that we could take out the money, BUT, none of the 6 received such notices. I just happened to call to check on the statua of the funds.

There should be compensation for the children and penalty for AC. It wasn't as if we just chose a bad stock, we chose an entire BAD fund.


My grandchildren will still attend the universities because we were lucky and raised very capable children, who wil never let American Century touch there money. The result to the grandchildren is lack of faith in their grandparents and in the venture of Saving.

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13 people found this review helpful
Original review: March 19, 2004

We established a gift trust for our daughters in memory of their brother who died in an accident. The fund was started in March 1995. We originally invested $5000.00 and then added an addition $500.00.The fund initially did well and then completely fell apart. At this time, the fund is back to about what we invested in it originally. One of our daughters is sick and needs the money. We called the above phone # and spoke with Dan Swartz who informed us that nothing could be done. I believe this emergency for my daughter should warrant a litle more consideration on behalf of American Century. The fund expires February 2006.

My daughter will be in the hospital for an unknown period of time. After that, there wil be a recovery period of at least a month. The bils are starting to mount and she will lose her automobile because she can't cover the car payments. By simply letting her out 2 years early American Century can prevent all this from happening.

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12 people found this review helpful
Original review: Jan. 30, 2004

Opened gift fund for granddaughter for the amount of $1000 on Oct. 17th 1994, up to the last statement of Dec. 31st 2003(8 years + 2 months) the fund is at a mere $1,172.88. This was a fund that could not be touched for 10 years. There was a time (Mar.9,2000) when its value was as high as $3727.88 and they did nothing to protect its principal.

I received a form letter dated Jan 2004 that they recognize the fund's under-
performance and that they will now waive
the managements fee for a six month period. Not only that they did a poor job, but $807.47 in distributions plus

$136.00 of other withdrawals have vanished. Altogether thats about 1% yr

I even had another Gift trust for my other granddaughter on the amount of $2000 closer to 10 years.. I just gave it to my son, that trust went as high as $8146 they let it go down to approx.
$2400 and that probably lost all the

distributiona and other withdrawals.

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17 people found this review helpful
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American Century expert review by ConsumerAffairs

American Century Investments was established in 1958 with two funds and now offers dozens of equity and fixed-income mutual funds to individual investors and those investing through advisors.

  • Information: The American Century Investments website makes it easy for potential investors to find a fund’s prospectus, annual report, semi-annual report and statement of information. The documents help you understand whether a particular fund meets your investment goals and financial situation.

  • Buying options: Investors can buy shares in American Century Investments’ funds directly from the company or through their financial advisor.

  • Other options: American Century Investments offers a variety of investment options including brokerage accounts and retirement accounts.

  • Corporate impact: Stowers Institute for Medical Research owns more than 40 percent of American Century Investments, so dividend payments to Stowers Institute contribute to medical research.

  • Consumer education: Those looking to learn more about the stock market and investing can visit the Insights & News section of American Century Investments’ website to read market news and informational articles.

  • Best for: smaller investors, new investors, conservative investors and retirees.

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American Century Company Information

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American Century
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