Benetrends Financial S Broad St, Lansdale, Pennsylvania

Benetrends Financial Reviews

4.8 stars based on 130 reviews

Featured Comments:

• K

  Katie Jones

  5.0

  I reached out to Larry today with no notice, and dumped my 7 year old problem on him. Not only did he take time to hear me, analyze the situation, and council me, he assured me he would be there should I have additional questions or needs. He is an expert, and I am grateful to have him in my corner.

• J

  Joseph Rosen

  1.0

  Worst decision I made was trusting my business with Benetrends. Benetrends effortlessly rolled my funds over so I could get my start-up capital, but trying to terminate my retirement plan was an exercise in buffoonery. Do yourself a favor and pass on Benetrends. After having been assigned their most incompetent, Newbie analyst, I knew it was time to part ways with Benetrends. With every question, there was an extended response time and it was obvious that she had no clue as to what I was asking. It became very apparent that she was so incompetent, that she was literally asking her co-worker's for advice instead of knowing the answers to softball questions. I have yet to speak to anyone from her management. Even after asking about the business appraisal process, getting list of approved appraisers and asking for my payoff amount, she still had no clue that I wanted to terminate all business with Benetrends. When it came down to determining how much Traditional and Roth IRA funds needed top roll back, thing really got stupid. Despite having my TSP transfer letters showing the exact amounts of Traditional and Roth IRA balances, seven years of annual statements and my Form 1099's, my Benetrends "analyst" nor compliance officers could determine the correct amounts that needed to be rolled back out of my retirement plan. Not only did I have to do the math for them, I also had to educate Bentrend's compliance department on how to interpret IRS Form 1099....this back and forth discussion went all the way up to the VP of Compliance before they determined I was correct (but never admitted their error). Luckily, I had one analyst, Mike M., that actually listened. After educating the financially savvy folks at Benetrends, I avoided losing about $20k of my Roth IRA funds that Benetrends stated should be Traditional IRA funds. Something I found astonishing was all this confusion was generated over a retirement plan that was about 18 months old...imagine if my plan was 18 years old! So, had I not been assigned Benetrend's most incompetent analyst, I never would have realized how poorly trained these financial folks truly are. I'm almost completely done with Benetrends, except now I have to educate them on why I don't need to wait on them to complete my Form 5500. Till then, I will continue to educate them and let my analyst play "phone a friend" with her Benetrends co-works. In sum, if you want to jeopardize your company's finances and employee's retirement funds with some of the most incompetent people I have ever dealt with, then look no further than Benetrends. Not only are the analyst slow to respond and impossible to talk to, but they cannot read standard financial and IRS documents. Worst mistake in my young business career was to go with Benetrends. Do yourself a favor, before choosing someone to rollover your funds, have them prove that they can do a weighted average and can interpret a Form 1099. Hard pass on Benetrends.

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  Response from the owner

  Mr. Rosen, thank you for taking the time to leave us a review. Your feedback is important and we rely on hearing from our clients to ensure we’re making every one of our clients a Benetrends champion. As you shared in your review, this was not the case for you and for this, we do apologize. Our customers are the heart of our business and we understand you’re feeling disappointed about the challenges with our team in shutting down your plan. Once seeing the review, I know our CEO, Rocco Fiorentino, immediately contacted you to address your challenge and has been coordinating with other team members to get your process back on track. Thank you, again for taking the time to share a review with us.

• P

  Patrick Schoenling

  5.0

  We have been a happy client of Benetrends Financial for 12 years. Everyone who works there has been very professional, responsive, and pleasant during our interaction. William Hundemann, the teams manager is especially diligent.

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  Response from the owner

  Thank you so much for the kind review! We're thrilled you've had such a great experience for such a long time, and hope for many more years to come!

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