Newport Group Reviews 50

Horrible customer service and financial advising during and after using them through my previous employer. I could not get in touch with anyone at Newport to rollover my 401k account to my personal financial advisor when I left my job. They issued the check to the incorrect address with no follow up information available, resulting in a huge delay in depositing the funds because I did not know where the check was actually sent. Couldn't recommend them any less from start to finish.

Worst company ever! I have spent well over a month trying to get my 401k funds to rollover into an ira. After unsuccessfully trying to get checks mailed to my PO Box (they assured me my name was on the mailing envelope which it was not) and getting nothing but lip service and the run around from customer service and mangers. I had them send to my home address via ups. This cost me $30 and was also a hassle as I had to get the address changed by my former employer as I was not allowed to do it online. There were supposed to be two checks and customer service confirmed that two had been sent in the same envelope. When I received the envelope only one check was there. I am coming up against the irs deadline for the rollover. This company has done nothing but cost me money and they are not taking appropriate steps to correct this. They are an embarrassment of a company.

Please consider the others reviews. Terrible communication with an arrogant approach. Do not waste your time.

WORST COMPANY TO DEAL WITH OF ALL TIME. I have spent HOURS of my time, and placed over 30 phone calls at this point, just to access my own money. First, I had to apply for an account (which already existed), then I had to fill several forms. I received email responses with varying information, and every person I talked to told me something different. Eventually, after about 4 months, I was able to get follow through on a payout to deposit into a different company holding my retirement. I was EXPLICIT in my email on what info to put on the check, and yet, they managed to screw this up to. Now, after another hour on the phone, I may or may not be receiving a check with the correct information. To be determined.... It's been quite the process of frustration, of time waste, of incompetence, just to access my own money. Avoid holding your money with this company at all costs.

The Newport group supposedly services retirement accounts that invest in Vanguard. They have the worst service and uninformed servic agents. They do not make filing a 5500 at all easy and will charge hundreds for any mistakes they were party to. We will be filing an FTC complain for their unfair business practices. We wonder in Vanguard knows how bad Newport is.

I signed on to Newport Legal group February 2022. Paying them $248.63 each month. They never settled or talked to my creditor upstart. Never emailed. Found out in May 2024 they had a lawsiut for feud. They kelp taking out money. When I called said they Needed More Money to settle. I refused and got out . They only refunded me $3183 back and kept the rest of the $7,210 I paid. Now I have to pay creditor $10,000 all over again. Need my money back and to be added to suit. Out Done. Miss Faye

They are terrible the customer service representatives are mean and hang up the phone on you when you call. This company should be shut down I have hired a lawyer and will be proceeding with a lawsuit because they hold people’s money

They are now managing our 403(b). Where do I start...I called the 569-4903 number, spoke to a woman who was very difficult to understand - poor language skills- ....she transferred me to someone in the Philippines who told me I need to call the original number, finally got "Rose" who was very nice and understood the questions (first person to do so after several transfers and having to go through the same series of security questions)....problem remained unsolved.

The website is HORRIBLE and very difficult to navigate. Whoever designed it was unconcerned about end user experience. Their page link from Vanguard is a tiny screen which will not allow it to be maximized or made greater. Extremely difficult even to realign investments.

I'm sure they collect fees for the management, but do very little else. I'm am not sure how a company that manages bookkeeping of someone else's retirement assets can get away with this. It is like they hold the assets and de facto hold the door to client access to their funds, They VERY difficult to deal with. SEC should investigate....aside from bad business practice, how can this be legal to hinder client access to their funds?

I have been trying to get a hardship because I was in need of a D&A treatment service. I had to pay out of pocket and have done for 4 months. At the same time I was getting behind on my mortgage. They gave me nothing but a hard time. Saying they reached out to me when they never did. Said they needed more documents, which I supplied and they wanted more and more and everything they wanted I supplied to them and they kept giving me a run around. I work with new hires at my company so I will be sure that I will share my experiences before they sign up for this horrible 401k retirement program.

The CSRs do not know what they're doing and they are rude. I was hung up on when I asked for the name of the CSR and to speak to a supervisor. I was given incorrect login information and then told no one could help me because I didn't have my security questions set up online. The entire process was lengthy and frustrating. I finally figured out how to log in myself and then was able to set up my security. I'm moving my funds immediately!

If it was possible to give zero stars I would. I was a part time employee of a local non-profit. I was automatically enrolled in a retirement savings program. After leaving the organization, it was somewhat complicated to roll the accumulated (minimal) savings into an IRA and I dropped the ball on the paperwork though in my defense the former employer and Newport did NOTHING to simplify the process or remind me of the existing funds. This is because they make millions off the high monthly maintenance fees from these relatively small sum accounts since the account "owners" are busy people and don't always prioritize the red tape procedures needed to access the often small amounts of money in the funds. I attempted to revoke the automatic rollover they did (for a hefty fee, natch, would have only received about 20% of the original total) but the letter was returned as "not deliverable" despite the address what was clearly spelled out in their paperwork. In conclusion, the account is now closed and I received NONE of the "retirement" money. It doesn't affect my bottom line, thankfully. But many in these positions are low-paid employees and it's complete bullsh** that the accounts work this way. You should be ashamed of yourself, Newport. There's a special place in hell for those making money off of the incomes of low-paid workers.

If I could leave negative stars I would. I called customer service with my financial advisor on the line to rollover my 401k. The customer service representative was not only, rude and condescending, but had a baby screaming in the background for the entirety of the call. After 15 minutes on the line, she told me we could not do the rollover over the phone and that she had tried to explain that to us at the beginning of the call but we didn't understand. My financial advisor with 40 years of experience did not understand lol! He said it was the worst experience of this kind he had ever had. My 401k was transferred to this company from another previous 401k. If you have a choice, do not use them! They are horrible!!!!!!

They make every step very difficult. They do not have online form processing. Everything is by FAX. The forms they send are formatted poorly, fill boxes do not work correctly, and footers overlap other text areas. All aspects yield a very low quality experience - particularly considering this company's business is financial management.

This organization is quite possibly the worst organization I've ever had to deal with. There is no way they are not doing something illegal in this process.

My mother passed away 6 months ago and had a 401k through her work. When she passed, I was put in charge of gathering accounts to be added to the estate and disbursements to my family. Newport Group literally repeatedly refuses to provide any information or account access to disburse these funds. After filing a complaint with the department of labor and 6 MONTHS of being stonewalled (refusing to provide login or communicate on the phone) constantly by Newport Group for an account that was in my name, the workplace changed their 401k plan to a different company. I will have to pursue those accounts at the new 401k company.

This can't be legal, and if it is, then the company is clearly riding a very abusive line to retain profits.

If you are a company considering using this company, know this:
- Your employees will struggle to access their money when they need it.
- Your HR employee will HATE interacting with NewportGroup.
- It will very likely lead to complaints against your business in relation to the 401k.

I would give negative stars if I could. This company is absolutely useless. You have to confirm name, dob, address, and full social number. But they wont help you unless you have the date you were hired.

I wish I could give zero stars as this is the worst financial institution I have every dealt with from top to bottom.

Slow to fix their hacked system, it is 11/17/2023 and they have not been able to provide any updated values for my account since 11/2/2023. Very concerning that they not only do not have a secure system, but also that it is taking them so long to fix it. They keep saying they are sorry, but cannot provide a target date for correction. As soon as I can get away from this company - I will.

Exceptionally horrible customer service over the phone. Representatives are talking to you like you are trash, and they are your boss. Problems don't get resolved. It is their way or a highway. If you get your money there, rollover out of it (if you will be able to).

First phone call to cash out was on June 19th. Two days later a check was mailed and after two weeks nothing in the mail. Waited until 7/10/20223 to do a stop pay that cost me $30.00 and another $30.00 to expedite it Fedex. Per Newport Group sent out Fedex overnight and as of 7/18/2023 no check. They will not give me tracking (per their policy) and I have been waiting on a supervisor for three days now to call me back. They work remote and cannot complete any task without sending a ticket for updates. Extremely poor customer service. Just spent over 50 minutes on the phone where they put me on hold and then it hung up on me saying they were closed and they do not call you back. Honesty gets you a long way and they are far from that. Time to contact the Better Business Bureau and let them investigate.

Terrible Customer service: You are not treated like a person who has money invested with this group: I am stuck in the plan due to my employer otherwise I would not ever use them !!!! Inconsistent