Ubiquity Retirement + SavingsReviews of myubiquity.com

I don't even know where to begin. Each issue takes 3-4 calls and at least 4 emails. The transfer of over $300,000 was to have been taken place 4 weeks ago and they removed the funds and never wired to my new provider. 3 days and 6 calls, 5 emails later they make the wire with no explanation. DO NOT USE the worst company!

Lack of guidance by this company. I have been trying to cancel out of ubiquity for months. I paid the $1000 to get out and from there it seemed like they would force out the employees. They sent me the funds from my own but held the on to scraps so that they could keep charging me $400. The interface is not informative. Not sure any other reason they would have it that way other than to keep charging me. There’s 3-4 of their departments to put the blame on so it’s confusing. I do wish I could get my money back it feels like a giant mistake.

If you are looking for a method for managing your employees 401k, I would stay away from Ubiquity. During my employment I personally had two issues where there was a discrepancy between my W2 and their statement, they had taken an extra payment for my 401k which ha sput me over my limit last year. That's their business 401ks. But their error ended up costing me time to correct. It cost my employer several hundred dollars, because they just let it go as a mistake because it was too hard to correct apparently. I thought I was done with them after finishing at my employer, but they weren't done with me. I ordered a rollover check (the only option on their website) to my advisor. It was "lost" in the mail - the options you are then given: - Wait 6 months for the check to expire - Pay them $65 to re-issue the check. - After complaining - a Money Transfer was offered, but still need to pay $65 Problem: They don't even have tracking numbers for the checks they send out. Just good old USPS for checks with three years of 401K maxed out contributions + gains. There is no option for Fedex/tracking. I offered to pay extra for that service, and make sure my second check wasn't lost. Not possible. Just "trust us, we sent it - sorry you didn't get it, you can pay $65 for to re-issue". I understand things happen and go missing, but I've never paid Amazon for something they didn't deliver - but that's not how these folks work. A wall of frustration, all after paying them $124 every three months as an "advisor fee" for maintaining my simple set of 3 funds. They never advise, just take money. Check out their fee schedule before signing up all your employees to their rigid process and excessive fees for simple 401k services. I'm still unhappy with my previous employer for their choice of 401k provider - I actually really like the employer, but this choice of theirs has left a bad taste in my mouth.

Happy to share with any company my experience so you can avoid the mistakes I made in hiring this company. They are loosely regulated and don't follow normal standards when compared to other 401k administrators. I have extensive regulatory experience so compared can share helpful input. It was an expensive mistake for us to hire this company and would be happy to help others avoid the same issues that I encountered.

After five weeks and losing 20% of the value of my 401K because Ubiquity placed me into a fund I had no interest in being in, I'm officially in the money market. You might say only losing 20% in this market throughout the past month is a win, but it was reduced because it took them nearly 7 business days to transfer my funds to cash.

I would give 0 stars if it were possible. They do not treat small businesses as a priority. My de-conversion (which their team passed me on to several people) was a horrible experience that took over 3 months. They did not advise me well on what type of account was best for my business or personal retirement. The team is terrible at giving direction, next steps, and any customer service. There is one phone line for all team members. An email takes 2-4 days to respond and it always is someone different who has no idea what is going on. Go directly to Vanguard or other companies and don't waste your time and money using this company. They charge a quarterly fee for doing nothing as the "middle man" and they charged me $1,000 when I cancelled services and moved my account to Vanguard. They still have not wired my funds to my new custodian (yes, they have even messed up my final wire transaction) after dozens of emails and calls (it's been 3 months).

How is a business run like this? Service is terrible. Response times can be measured in days. Then, I just received the following e-mail: "October 30, 2019 Dear [], Ubiquity Retirement + Savings was recently notified by Cachet Financial Services, that effective October 23, 2019, they will no longer process ACH transactions for any of their clients. Unfortunately, this includes Ubiquity’s clients’ 401(k) contributions. " So many questions here. Did they really inform you a week after they stopped? Or have you been sitting on this information until after everyone has already submitted ACH transactions? There are no possible answers that don't make you look bad, Ubiquity. Followup to reply from Ubiquity: The communication from them on 10/23 was very clear. For some reason, it took a week to notify your clients. As a small business owner, I value communication and accountability. If a vendor I did business with disrupted my operations, I would not tell my clients the resolution is up to them at additional cost to them. The full message sent on 10/23 is detailed in a story on krebsonsecurity dot com (no links allowed here). Followup (11/8): After multiple conversations with Ubiquity assuring me the situation was being handled, I just received a voicemail telling me I needed to fund payroll. Which I did. At my expense. A week ago. They now assure me they will verify that. I also received an email with various ratings that I should be able to click to rate the service. But none of them is clickable (in Gmail or on my iPhone).

Over $100 in fines/fees to get a rollover check sent to my bank? What a terrible company! I would never use them to set up a 401k under any circumstances. Great way to upset your employees!