Pershing - Consistant loss of money..Fees and poor performance
over the past few years we would constantly question our agent on why we were loosing money every month in our IRA's (1 account my wife, 1 account myself). Always we were told " be patient its long term".
The beginning of 2016 our agent went to another firm leaving us without notice and no representation with Pershing. Within the same week of finding this out we received our statements. My wifes account LOST 12% of its value. I too took a big loss.
We contacted another reputable investment firm and started the process of removing our funds from Pershing. Pershing tried to stall by rejecting the transfer paperwork. They insisted on a phone acknowledgement ONLY. My wife and I each had to call at separate times.
Finally they agreed to "only liquidate the accounts" and gave each of us the current balance. We were told the liquidation would happen the very next day. Today I received our statements.
My wifes account LOST another 3% in 1 business day I lost 5% that is inexcusable.
My suggestion is to take your money and run far away from Pershing LLC.
Reason of review: Problems with payment.
Location: Lehighton, Pennsylvania
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