Some people are better than others

[The emperor has no clothes]

My wife and I worked for the same company. After retiring I took a monthly pension from them. My wife decided she wanted to just take the lump sum and roll it over into her IRA. In my experience this has been a pretty easy process. Normally they will electronically transfer it to your company that handles your IRA. They couldn’t or wouldn’t. They said they had to mail out a check. After finally receiving the check we went to the bank to roll it into her account. In the past I’ve been able to meet with a “personal banker” and the process takes 30 minutes or so. This time was different. They said they couldn’t do it and we would need to do it thru an app on line. After trying for 3 days with no success, it just kept kicking me back to a login after filling out everything. So, back to Wells Fargo. They had the same problem and after an hour told us the best option was to mail the check to their processing center. We did. After 2 weeks the letter and check was returned to us with a form letter stating they couldn’t accept it as the check was made out to “WellsTrade” instead of Wells Fargo Processing (or something similar), mind you I was instructed by their “specialist” online to have it made out to WellsTrade. At this point I was getting a little fed up and was wondering why it was so hard to give someone thousands of dollars. I decide we will just go back to the bank and take our lumps tax wise and deposit it in our savings account. After talking with another personal banker she said that couldn’t be done as the check was to WellsTrade c/o Brenda. She inquired why we were going thru all this and not just going to the teller and having it rolled over into her IRA. I went thru the entire scenario again with her and how that’s how I’d had things done before. She said that’s not right and she could do it. We walk up to the teller and she instructs her on how to do it. Wham Bam thank you mam, and it’s done in 3 minutes.

I guess the moral to the story is not all personal bankers are created equal. 

[DDT (12)]

Rob,

It's a tough story but with a happy ending! Life can be funny that way... Glad it all... finally!... worked out for y'all!

It doesn't look like I'll be near y'all this season after all. Ever since heading westward I've had it in my mind that'd I'd try to look y'all up. However, the coldness between us has changed my mind... Another time, perhaps... I still owe you a brew or ten, right? Looking forward to retiring that debt!!!

DDT (12)

[The emperor has no clothes]

Rob,

It's a tough story but with a happy ending! Life can be funny that way... Glad it all... finally!... worked out for y'all!

It doesn't look like I'll be near y'all this season after all. Ever since heading westward I've had it in my mind that'd I'd try to look y'all up. However, the coldness between us has changed my mind... Another time, perhaps... I still owe you a brew or ten, right? Looking forward to retiring that debt!!!

DDT (12)

ten might be pushing it. Let’s just shoot for besting the 3 you had in New Mexico. It’s actually been kind of cold here recently. Probably a good call on your part. I look forward to our next meetup. 

[TTG53#1717]

When I retired after 15.5 years at the oil refinery, I had 2 small pensions from the current and previous owners.
My experience trying to meld the lump payouts from the current pension and prior pension into my long standing 401K account, originating from the prior owners, parallels your experience.

Very Frustrating week after week.

Then I had an unpaid overtime shift right before retirement and remembered after a few weeks to call corporate payroll in Ohio about that. The young lady in payroll listens to my info, asks for a few minutes of hold time and then comes back with an “All fixed” and the shortfall has been deposited in my account. $£$€ WHAT? Wonderful!

She then asks if she can help me with anything else. I said “not unless you can solve pension problems”.
She said “Hey I just love a challenge, what’s going wrong. ?”

1 One Uno Single time I explained the hurtles I was going through with the two employers and the pension investment company and she tells me she’ll see what she can do.

Less than 24 hours later I have multiple emails with which to acknowledge, release and transfer the two funds into a consolidated account.

Complete Success!!

Some people are better than others

[Robert]

I guess the moral to the story is not all personal bankers are created equal. 

Yup go to people, it even works well in government like Trump.