Comments on: H&R Block’s Express IRA Lawsuit

By: Eva Stewart

Eva Stewart — Fri, 29 Apr 2011 23:32:50 +0000

I finally got in touch with them……..the last statement I received was in 2008. I used that phone number on that statement……..the phone # is 888-687-4722. Give them your social security number and they should be able to locate your account.

The funny thing is that I asked for a statement which I DID receive, but both numbers listed on that printout to call for “help” on the IRA aren’t working numbers (888-472-6722). I also asked for instructions on how to roll over other existing IRA’s ………if I choose to go with H&R. I asked to verify that I would be sent these instructions/forms, and the Customer Support person, Tiara, promised I would get one. I didn’t. She also had my email account wrong, and argued with me that they couldn’t send me any paperwork to rollover my other IRA’s. She also didn’t correct my phone number or email address they had on record from years ago. There was absolutely no way for me to contact them if I hadn’t found my 2008 statement, and the apparently couldn’t/didn’t want to contact me since 2008.

Very poor service. I’m not sure after all this that I want to trust my $$ to them. One good thing, though, when my other IRA’s were losing $$, the H&R Easy IRA held its own. Didn’t gain but about 1%, but the others were losing hand over fist.

That being said, I just don’t trust a company that doesn’t send out yearly statements (although the address the had was correct), doesn’t list the correct telephone number on their statements, and doesn’t update customer contact info. Perhaps they were hoping that I’d just be unable to contact them ?? Dunno.

By: FELICA WHEELER

FELICA WHEELER — Thu, 11 Nov 2010 23:09:22 +0000

I OPENED A RETIREMENT THROUGH H&R BLOCK AND I WANNA KNOW WHERE MY MONEY IS AND WHAT’S THE STEPS TO GET MY MONEY BACK….

By: Phil

Phil — Fri, 17 Mar 2006 07:05:03 +0000

One odd thing about the case is that H&R could have made _more_ money off of people if they had put them either in a Treasury bond fund and charged them a larger percentage or (the wicked option), but them in a high-fee actively managed stock fund. H&R made such small amounts of money off of these accounts (about $10 million a year) that it doesn’t seem they would even bother having them. The two examples they give in the article are of one-time contributions of $300, which no other reputable company I know of would even allow. It just seems like such a bad product for both parties that it would be a deliberate attempt to scam people.

By: Wayne

Wayne — Fri, 17 Mar 2006 02:20:05 +0000

Anybody who feels that a money market fund is appropriate for retirement saving is doomed to be greeting shoppers at Wal-Mart in their golden years.

By: supermom_in_ny

supermom_in_ny — Fri, 17 Mar 2006 01:55:38 +0000

They got me two years ago. I went to file my taxes and I got a very large amount of money. H&R Block had sent me two coupons. One was for the tax services and another was to open an express IRA account. I didn’t have any retirement savings at my employment, so I opened it. I didn’t really read the fine print (which I usually do).

I knew something was wrong when I opened my statement at the year mark and I had less money. Now how does that happen? I tried to find an explanation as to why I had less money, but I couldn’t find it. Ultimately, I don’t regret it because I lost my job shortly after that and that IRA is the only money I have saved. I refuse to touch it. It isn’t much, but it will be a little something to start a savings with.

I’m glad to read that they may suffer the consequences for misleading customers. I hope I at least get some interest out of it!