American Century

American Century

 3.9/5 (57 reviews)
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Page 2 Reviews 10 - 40
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.

27 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.

27 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!!!!!!!!!!!!

21 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.

12 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.

17 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.

14 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.

15 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.

21 people found this review helpful
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American Century Company Information

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American Century