T. Rowe Price: how to annoy the hell out of a good customer (Part 2)
Repeating the positioning line at the top of the T. Rowe Price website:
“Investment management excellence, world class service and guidance”
As you will recall from my Part l blog on T. Rowe Price, I put in a call and left a message last Friday with the official at T. Rowe Price mutual fund family who could explain the mysterious restrictions and penalties placed without notice on my wife’s IRA account by Price for selling a volatile Price fund in some sort of violation of Price redemption policy.
Price also mysteriously applied the restrictions and penalties to my IRA account.
I asked for a call back and I still have not gotten a callback. So I called twice today and neither time could I even get through to an answering machine. The phone just rang and rang.
So I checked with the Price website and found five general information email addresses to send my blogs and questions to in an attempt to get someone to talk to me. Again, I am seeking an explanation of what happened and why we should ever again invest in the Price family of funds and “its investment management excellence and world class service and guidance.” Stay tuned.
Memo to Price: Where does a customer go with questions and complaints? B3, looking for just plain old-fashioned Rock Rapids (Iowa) service and guidance
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Comments (5)
B3: is this a matter of wanting "Rock Rapids (Iowa) service and guidance," or getting the kind of service and guidance you got the last time you lived in Rock Rapids (which, by my estimation, was pre-1966--before the advent of touch-tone phones, IVRs and the Internet).
Is THIS what you do with your time these days?
Posted by rhaelig![[TypeKey Profile Page]](http://www.sfbg.com/blogs/bruce/nav-commenters.gif)
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September 19, 2006 03:43 PM
RH:
I confess. I am a graduate of the Rock Rapids (Iowa) College of Community Journalism and the Rock Rapids College of Small Town Service and Guidance. From 1935 to the present, since I am still very much in touch with my hometown and the Lupkes husband and wife team who now run a marvelous little internet cafe in the building on Main Street that housed for decades the drugstore of my grandfather and father ("Brugmann's Drugs: Where Drugs and Gold are fairly sold, since l902.")
By referring to Rock Rapids, population 2,800 then and now, I mean the kind of service and guidance that comes with having to face your readers every day (on my old paper the Lyon County Reporter)and face your customers every day (as a bank or small business). A lot of big outfits like T. Rowe Price don't have to face their customers, and can hide behind the technology, and so develop bad habits of blowing off their customers. Yes, I like on occasion to use examples of this to make the larger point: how people can fight City Hall and can fight the big guys. off. If nothing else, it makes me feel good. B3
Posted by bruce![[TypeKey Profile Page]](http://www.sfbg.com/blogs/bruce/nav-commenters.gif)
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September 22, 2006 05:55 AM
RH:
Repeating: why were you selling below cost at the SFWeekly/EastBayExpress/NewTimes chain? That is illegal under California law and the basis of our predatory pricing suit against the Weekly et al. B3
Posted by bruce![[TypeKey Profile Page]](http://www.sfbg.com/blogs/bruce/nav-commenters.gif)
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September 22, 2006 08:32 AM
B3:
Repeating: Never happened on my watch, from 1997 to 2001, inclusive. When are we having drinks?
Posted by rhaelig![[TypeKey Profile Page]](http://www.sfbg.com/blogs/bruce/nav-commenters.gif)
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October 1, 2006 06:57 PM
PLEASE DEMAIND a "Retail Department Manager" NOT A SUPERVISOR PLEEEEASE. FILE A WRITTEN COMPLAINT if you feel that there has been a violation. These are the entities that control the investment field:
It is illegal not to DISCLOSE REDEMPTION FEES PRIOR TO ESTABLISHING THE ACCOUNT, AND YOU ARE SUPPOSED TO REVIEW THE IRA AGREEMENT FOR 7 DAYS PRIOR TO STARTING AN ACCOUNT.
Here is the website of the
Federal Trade Commission (FTC) who protect the consumer:
http://www.ftc.gov/bcp/index.shtml
Go to the CONSUMER PROTECTION tab then to "file a complaint" and you can complete the form
Redemption fee guidelines will be outlined within:
Securities Exchange Commission (SEC)laws
Review SEC Rule 22c-2
within the INVESTMENT COMPANY ACT OF 1940.
National Assocoiation of Securities Dealers (NASD)
https://apps.finra.org/Investor_Information/Complaints/complaintCenter.asp
*you may also file a complaint with the NASD
Posted by Lowlymowly | September 1, 2007 11:58 AM