Consumer Complaints and Reviews
I did my income tax based on my Citibank and other accounts. However, I found out that Pershing had sold a number of stocks in my account and that IRS had a tax return transcript with hundreds of pages. In fact, the file was so large that IRS was not able to provide me, so, I can't see any activity for 2014.
Just received a bill from IRS for $9,034.00 for selling stocks I never owned (AFAIK?). Pershing obviously had my Social security number. Could this be identity theft? I'll have to look into this, haven't had any income since 2001 when I was laid off.
Our Broker has told us that it will be 3 weeks for Pershing to establish our annuity account. Are you kidding me??? Management needs to review their internal processes. If it takes 3 weeks to establish a new customer, how long will it take this existing customer to actually receive their payout when the time comes??? This is unacceptable in today's business environment. Pershing just cost the broker our business.
I sold shares through a broker about a month ago. They federal expressed the payment to Pershing LLC on 29 Sept 11. It took a week for them to verify the payment received with the FedEx number. You cannot directly speak with them because everything has to go through your broker. I have been trying for two weeks to get my money and my broker confirmed with Pershing on 7 Oct 11 that the payment would be wired to my account--still, nothing has happened. They have all of these protocols that you have to go through and Pershing is, by far, the most unprofessional and unconcerned company I have ever done business with!
This company is keeping my money invested in "Cash" (with no possible gain) and constantly charging me "Fees" for keeping my money. Constant calls to the representative James ** (with whom we opened the account), were not returned (dozen calls over 2 year period). Not even one phone call was answered nor voice message returned. Unbelievable and so unprofessional. It is SCAM written all over it. Beware of this company and I wish that I read a similar post like this before investing my money with them.
How do I know I can trust these reviews about Pershing LLC?
- 611,656 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
Pershing LLC is a company that Citibank picked to manage their investment accounts. They have ** all my accounts in three days. First, they changed all the numbers on my accounts and then sent me a letter a couple of days letter telling me so and offering me the new numbers. Citibank had a major mistake in getting into bed with this outfit. I am sure many investors are pulling out as we speak!
Pershing LLC Company Profile
- Company Name:
- Pershing LLC