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American Century

American Century
Overall Satisfaction Rating 3.17/5
  • 5 stars
    6
  • 4 stars
    6
  • 3 stars
    4
  • 2 stars
    2
  • 1 stars
    6
Based on 24 ratings

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    American Century Reviews

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    Page 1 Reviews 0 - 10
    Rated with 4 stars
    Verified Reviewer
    Original review: July 5, 2019

    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!

    7 people found this review helpful
    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.

    23 people found this review helpful

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      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".

      18 people found this review helpful
      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.

      33 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.

      14 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.

      27 people found this review helpful
      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.)

      39 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.

      44 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!

      26 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.

      28 people found this review helpful
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      American Century author 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.

      by ConsumerAffairs Research Team

      The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.

      American Century Company Information

      Company Name:
      American Century
      Website:
      corporate.americancentury.com