T. Rowe Price

T. Rowe Price

 3.5/5 (108 ratings)
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About T. Rowe Price

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Nov. 13, 2022

They changed my address after 6 months of trying to get it changed and two days later changed it back to the old address 1500 miles away and because the address is wrong, will not let me withdraw my funds. I’ve got complaints now with multiple Federal regulators and intend to sue them for a lot more than they’re blocking me from withdrawing. Very, very corrupt and illegal company. Typical American financial company: thieves and criminals.

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 4, 2022

I have dealt with T. Rowe Price for over 5 years now and all I get is hell and misinformation that has cost me thousands. Don’t invest your time or money with them because they will only screw you over. And then just apologize that they will work on getting their employees all on the same page. When it’s funny that I spoken with more than 4 different representatives and they then all give me the same information but it’s only wrong once the company has already screwed you over. It ridiculous and I will never invest with them ever again and neither should you.

2 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 23, 2022

    What a shady company. Had an old 401k with them and they decide to liquidate my investments and move them to a random 3rd party broker that I've never heard of without my consent. To top it all off - that 3rd party charged a $40 fee for setting up an account that I did not authorize. They did NOT notify me in writing prior to doing this. They claim some nonsense about "plan provisions" which even if it were true, IF they were an ethical company then they should notify customers in writing at least 60 days in advance. They should send multiple alerts via multiple channels (email, phone, mail) for major transactions that a customer doesn't authorize. They clearly have unethical practices and I suspect this is only the tip of the iceberg. Avoid.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 19, 2022

    I am forced to use them because that's where my Dad set up the inherited IRA. I called on 9/6/2022 and asked to have a distribution sent express. Not only did they not send it express, I finally found out that they didn't even mail the check out until 9/14/2022. You'd think they would have expressed it after not mailing it for a week, but nope. So now it's 9/19/2022 and I'm still waiting for a distribution dated 9/6/2022. I was told I can't set up electronic payments without a voided check.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 13, 2022

    DO NOT sign up for a 529 savings account with this company. The only reason I registered for a 529 account here as opposed to my state/other was the Online Gifting Portal functionality so my friends and family could easily send money and not have to write a check and send in the mail. My son's first birthday came in July and all of my family members notified me it wasn't working! I reached out to T. Rowe support and they have not resolved this issue as of 9/13/2022. No communication, no sense of urgency. I keep following up and they "make a note" that I called. None of my family members are able to contribute to my son's savings plan on their website. As a result, he has missed out on thousands of dollars in gifts. I have called several times and as of 9/13/2022 (OVER A MONTH broken) they still can not give me a timeline of when it will be fixed.

    In the financial services industry especially, this slow resolution time is unheard of. To any reader, I'd be hesitant to use any services from a company with this slow of a response time for a technical issue. I'm looking at alternatives now. I urge any reader to consider another company for a 529 savings plan. You've been warned!

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 19, 2022

    I tried to sell a fund to get money to pay my income taxes. I started a month before and set up a transfer account with our bank. That took 2 weeks. Then, they did not explain that the fund we had selected had a hold until April 18th! They made it sound as though this was a procedural hold, so changing the fund would not have mattered. I finally got the transaction completed on April 20th because I called at 3 PDT. Further, I have had difficulty with their website and had to call customer service twice! I do not recommend them.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 13, 2022

    We’ve been handled by multiple customer representatives with a different requirement given each time. My aunt died and my father has been trying to access the account, he’s her last living close relatives. We provided necessary documentation Yet each time they request something else. There’s no end to the forms nor ever a clear answer to what’s needed and this has been going on for over a year.

    There’s no direct contact with the person who keeps asking for something different only someone who sends a message and has you on hold waiting for a reply to their in-house messaging. You would think that a company that deals with over 1.5 trillion dollars wouldn’t put you on hold for 30-50 minutes each time and that they’d have a better system for grieving families. From my family’s experience, I can say that they only Care about themselves personally Maybe that’s what happens when holding onto money becomes more important than customer service.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 22, 2022

    As a beneficiary, T Rowe Price by far has the most complicated, burdensome, lengthy process for getting my family member's money. Between hold times for customer service, complicated claim forms, required signatures and documentation, I have already spent well over eight hours on this with at least two more hours to go. ETrade? 5-10 minutes. Everyone else? 1-2 hours. I would not leave money here even if it were the only option!

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 18, 2022

    I am not unhappy with their mutual funds. I have invested with them for over 20 years and have approaching 3 million dollars invested. This significant amount allows me to be enrolled in T. Price Preferred Services. If I need to call though, either the supposedly enhanced service number or the regular number, the hold times are terrible. Often the representative does not know anything about my problem and then transfers me again. If I am unlucky, it can take an hour or two to address something simple. Finally, I am asking myself why I don't find a better company; one that's rated better in customer service as well as having good fund selections, etc.

    16 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: May 26, 2021

    My account was inherited from my parents. Unfortunately, my experience has been something less than good. Price has a very high opinion of themselves, and a very low opinion of us----the clients. To them we are sheep and we need herding. They do not believe we have brains. Price's web page is extremely confusing and totally unfriendly and difficult to navigate. Price makes you wait on hold interminably for help either online or thru a broker. The brokers will make recommendations that are unwise and money-losers and foolish just because they have quotas to fulfill. Price has high fees that reduce your return, and if you leave, they keep a portion of your money just to be spiteful. DO NOT INVEST WITH TR PRICE. ANYWHERE ELSE IS BETTER, THIS PLACE IS A RIP-OFF!!!!

    25 people found this review helpful
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    T. Rowe Price author review by ConsumerAffairs Research Team

    T. Rowe Price offers a wide variety of financial products, including mutual funds, to investors. Its mutual funds are all actively managed, and many have low fees. The company was founded in 1937 and is headquartered in Baltimore.

    • Financial services: T. Rowe Price offers financial services and products to meet many investors’ needs. In addition to mutual funds, its products include college savings plans, non-retirement accounts, traditional IRAs, Roth IRAs and more.

    • Fund costs: T. Rowe Price prides itself on providing investors with low-cost mutual fund options. The company manages over 120 no-load mutual funds, and many of its funds have an expense ratio below that of similar funds managed by other investment firms.

    • Information: Interested investors can easily find information about all T. Rowe Price’s mutual funds. They can search for funds and compare them to find one that meets their goals. The website also makes it easy to download prospectuses, shareholder reports and fact sheets.

    • Client education: Consumers who want to learn more about investing can find several tools on T. Rowe Price’s website. The site has articles about retirement, college, tax and estate planning as well as charitable giving.

    • ActivePlus Portfolios: Investors looking to broaden their portfolio may be interested in T. Rowe Price’s ActivePlus Portfolios. After answering a few questions online, investors are matched to one of 10 portfolio types based on their financial goals. Portfolios consist of investments in 8-13 of the company’s mutual funds, helping to give investors additional diversification. The minimum investment for an ActivePlus Portfolio is $50,000.

    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.

    T. Rowe Price Company Information

    Company Name:
    T. Rowe Price
    Website:
    www3.troweprice.com