John Novak - Prudential Financial

Boca G. _{on Yelp}

Nov 13th, 2012

I don't know about this office, but PRUDENTIAL central office is incompetent!!!  If u d don't have someone's extension #, they have no way to look up the person by name. That is like having a telephone book that only  has #s in it & no names.  I would give ZERO stars if there were a means to do that on Yelp.

Larry P. _{on Yelp}

Dec 13th, 2013

Run screaming.  I don't know about the company as a whole, but there's a culture of dishonesty with the south florida reps of this company.It's been a goal of mine to set up a retirement account program for my staff. 401(K) plans are too pricey for us right now so we settled on a Simple IRA plan from Prudential.Short Story: We were deceived about a couple of things by Prudential, flat out lied to, and we ended up discovering these things at the final hour and had to quickly pivot and set up an account with Fidelity instead.Specifically, we were told during a Q&A session with one of their advisors that my staff would have low-cost index funds to choose from. No such funds were available: they are only actively managed funds. Not only are these more expensive for everyone, we were lied to.In addition, there's an October deadline for setting up these accounts so that you may contribute during the current calendar year. For example - if you set up the account before October 2013, you can make your contribution for all of 2013.We were told by Prudential that the deadline had to do with the FOLLOWING year. So we moved hell and high water to get everything done and signed so we wouldn't lose 2014. We were given misleading information.When we discovered this business about the index funds, we got on the phone with a Managing Director, who tried not to solve our problems but to upgrade us to a 401(K). Then, when we decided to pivot to another firm we could trust, we discovered the truth about the October deadline.I can't tell you how much company time was wasted because of Prudential's actions. I take responsibility too as a noob, I should have "trusted but verified". And we should have gone with Fidelity or Vanguard from the start.Live and learn, but hopefully this will point those of you in my boat in the right direction a little bit.