Anyone ever appeal their Wells Fargo Advisors termination fee?

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Topic Author
ronno2018
Posts: 158
Joined: Sat Apr 14, 2018 9:31 am

Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by ronno2018 » Thu Nov 07, 2019 1:06 pm

Long time WFA customer but now moving accounts to Vanguard. Termination fees are $95 times four accounts.

I guess I should be happy with all the free trades they gave me over the years? :sharebeer

rhoms33
Posts: 12
Joined: Tue Jun 27, 2017 8:27 am

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by rhoms33 » Thu Nov 07, 2019 1:19 pm

Just paid $125 to terminate an LPL financial acct (transfer to Vanguard).

Not worth the energy to argue, just glad to be moving on...

HomeStretch
Posts: 2496
Joined: Thu Dec 27, 2018 3:06 pm

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by HomeStretch » Thu Nov 07, 2019 1:26 pm

Yes, I asked for a waiver when closing parents’ three high-fee WF AUM accounts. No success.

Will your new brokerage reimburse closing fees from WF? Vanguard will not.

ETA: the $285 closing fees were more than offset by one month’s savings from eliminating the advisor’s 1.5% fee and high WF fund ERs.
Last edited by HomeStretch on Thu Nov 07, 2019 1:40 pm, edited 1 time in total.

arf30
Posts: 598
Joined: Sat Dec 28, 2013 11:55 am

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by arf30 » Thu Nov 07, 2019 1:27 pm

Small price to pay for freedom.

Tommy
Posts: 156
Joined: Mon Mar 07, 2016 11:47 pm

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by Tommy » Thu Nov 07, 2019 1:33 pm

WF charged $40 to move 401K to Vanguard IRA.

clammyhands
Posts: 19
Joined: Sat Oct 19, 2019 9:36 am

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by clammyhands » Thu Nov 07, 2019 1:35 pm

Maybe this is too much work, but if you move to Fidelity they will reimburse your transfer fees. I just moved from WF to Fidelity. And if you're still sold on moving to Vanguard, you can do that for free from Fidelity.

Topic Author
ronno2018
Posts: 158
Joined: Sat Apr 14, 2018 9:31 am

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by ronno2018 » Thu Nov 07, 2019 1:41 pm

clammyhands wrote:
Thu Nov 07, 2019 1:35 pm
Maybe this is too much work, but if you move to Fidelity they will reimburse your transfer fees. I just moved from WF to Fidelity. And if you're still sold on moving to Vanguard, you can do that for free from Fidelity.
Thanks for the idea! A bit too late and I find the process sort of stressful so I would not want to do it twice!

tman389
Posts: 7
Joined: Tue Jun 25, 2019 10:46 pm

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by tman389 » Sun Nov 10, 2019 5:11 pm

I recently moved from WFA to Schwab and Schwab reimbursed me for the WFA termination fees.

retired@50
Posts: 392
Joined: Tue Oct 01, 2019 2:36 pm

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by retired@50 » Sun Nov 10, 2019 7:20 pm

ronno2018 wrote:
Thu Nov 07, 2019 1:06 pm
Long time WFA customer but now moving accounts to Vanguard. Termination fees are $95 times four accounts.

I guess I should be happy with all the free trades they gave me over the years? :sharebeer
Somehow, I'm not surprised... My Wells Fargo story... Not that you asked... I sold a car for $10,000. Received a cashier's check from buyer that was drawn on Wells Fargo. I went to a Wells Fargo branch to cash it, and they would only give me $5,000 and another cashier's check for the remaining $5,000. I argued. It didn't work. How this outfit is still in business is beyond me... You're well rid of them.

Regards,

Topic Author
ronno2018
Posts: 158
Joined: Sat Apr 14, 2018 9:31 am

Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by ronno2018 » Tue Nov 12, 2019 6:08 pm

retired@50 wrote:
Sun Nov 10, 2019 7:20 pm
ronno2018 wrote:
Thu Nov 07, 2019 1:06 pm
Long time WFA customer but now moving accounts to Vanguard. Termination fees are $95 times four accounts.

I guess I should be happy with all the free trades they gave me over the years? :sharebeer
Somehow, I'm not surprised... My Wells Fargo story... Not that you asked... I sold a car for $10,000. Received a cashier's check from buyer that was drawn on Wells Fargo. I went to a Wells Fargo branch to cash it, and they would only give me $5,000 and another cashier's check for the remaining $5,000. I argued. It didn't work. How this outfit is still in business is beyond me... You're well rid of them.

Regards,
Yeah, they can be terrible, we had generally good experiences with them but I mainly stayed due to their signature services if you had a large enough account, but I switched to a Chase travel card that seems better, and Ally bank that has better interest rates and Vanguard since all my holdings will likely soon be a range of their products.

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F150HD
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Re: Anyone ever appeal their Wells Fargo Advisors termination fee?

Post by F150HD » Tue Nov 12, 2019 6:25 pm

ronno2018 wrote:
Thu Nov 07, 2019 1:06 pm
Long time WFA customer but now moving accounts to Vanguard. Termination fees are $95 times four accounts.

I guess I should be happy with all the free trades they gave me over the years? :sharebeer
EJo charges $95 too (at least they used to)

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