Newport Group Reviews 50

Newport Group's lack of customer service or support for their participants is breathtakingly terrible. The sales guys will spin you stories of the "ease of withdrawals" and "supportive staff helping every step" and these are blatant lies. It took over a week of repeated emails to even get the form I needed sent to me. Then they claim 7-10 days, then 7-10 business days, then "Oh well I've never seen a withdrawal fulfilled in less than three weeks". Each phone call takes a minimum of a half hour because the phone staff aren't told anything and have to continuously put you on hold so they can ask questions to "back office" staff. You will receive multiple generic emails per day about your request being "reviewed", but have to call to get any details when there is an issue. And issues there will be! I onboarded my staff so know that I provided both a mailing address and physical on my enrollment paperwork. Apparently they only bothered to keep one, so my including both? Started the entire three week process over again after I had to resubmit the form with just one address. I just spent another half hour on the phone because they halted the process, sent a generic email and needed me to call and confirm that, yes, I meant to check the box that I checked. It's astonishing what they will do to keep from giving you your money. If you care about your staff at all, do not choose Newport Group. It's been over three weeks, I have no income and I have no clue when they will bother to release funds. And even when they do, their check will be sent to my former employer in order for them to deposit it and cut a check to me. I will be lucky to see my money in two months.

Rollover Check received by their bank in NYC via FEDEX at 8:17AM March 4th (signed for by Bank). Not deposited yet as of March 8th.
NEWPORT Customer service (less than professional) said it may take two weeks for it to get into my account. Two weeks to have your money put into their account is ludicrous. It also is fiduciary negligence. Would never recommend any employer use this entity.

I too have experienced difficulty with Newport Group in receiving my 401k rollover. I would highly encourage anyone reading this to get your employer involved. My HR Dept and CFO got on them and was able to get them to release my funds asap. You don't have to fight this alone if you have a supportive employer as I am fortunate to have. Newport Group gave one excuse after another to hold my funds and created an unnecessarily difficult situation. The funds they manage belong to the employees and employers that entrust them to provide custodial services for which they are also paid to perform.

Requested withdrawal. Money separated out in 2 checks for the Roth and non Roth contributions. One check lost. This company refuses to wire money. They send checks with no additional security, tracking, and do not send it certified. Customer service kind and understands concern but hands are tied. If your company is looking for a retirement group, do not use Newport Group. They also have high fees compared to any other retirement companies used by previous employers in my experience.

Terrible company. I've been trying to get my money after leaving the last company I worked for. I've spent countless hours over the last 2 months trying to get my money. Now they said they need to cancel the last check and send me a new one and that it could be a half a month before they send it. It's nothing but bullcrap!! I'm tired of trying but i need it more now than ever and they don't care as long as they are getting interest out of it. I don't know what to do now and i can't get anyone at newport group to help!

Worst experience during a hard time. I requested a hardship to withdraw money to purchase a home. All forms and documents were sent in with my request. They did everything in their power to over complicate the process. First they said my HR department signed their portion wrong; my HR department is literally one person, she had to call her rep to get it handled and yes she filled it out right. Then said I needed some form from my bank which they didn't need, all I had to do was a recorded statement. Once they finally said everything was good I explained I needed that check asap and even asked if they could wire transfer. They told me they would try to wire transfer but there was no guarantees, not only did they not do the transfer but they put my check in snail mail... When I called for tracking info to at least get an idea when it would come, they could not offer it. Then told me I needed to request overnight delivery... I did this using a HARDSHIP... that is the literal definition of immediate response... Now my closing is on hold until my check comes in, oh and they can't cancel the check and reissue a new one because that process takes another 10 days...

I have already stopped all deposits into my 401k, I will not deal with this company any further.

Terrible business. I’ve been with two other administrators but never have experienced this. They charge you for the same thing over and over again. The agents you speak to have no power to make changes and they will make you wait on the phone forever (block out an hour or two!)

They charged me for a fee and then didn't disclose it on the letter they send. After going through statements online I find that there was additional funds that they took and called it a participation fee (without informing me). Mind you I’m paying a participation fee for a closed account, and I paid to close this same account in the prior year. I’ve never seen a company thats run so badly or trick its customers into additional fees so blatantly.

DO NOT GO WITH THIS COMPANY! As an employer or employee you will likely regret your decision.

Transferred fund from another 401k.
Newport Group must be cheaper than the former group, because there apparently is no one there. I've been on hold for 59 minutes and counting with no estimate in site of getting anyone to help me. Bad enough there was no communication of the change of administrators. Now there isn't a chance to access my account online or to remove my funds.

After reading some reviews from employees/former employees, I completely understand why their customer service is so bad. You can't get anyone on the phone, they can't answer via email unless you give them verbal access, (see point #1),l when you do actually speak to someone, you have to repeat yourself many times because you keep getting transferred to someone else. Forget about going online, I have only logged on successfully one time. I just want to give them my new address, it should be this f-ing hard!

Management expects too much from employees even though they don't provide adequate support. They set unrealistic standards, and they are rude to employees who make small mistakes. The owner is even worse when it comes to being ill-mannered and obnoxious. This company should definitely be on your "must avoid" list.