Huntington Bank - Huntington Investments are a joke
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New ReviewerIn May of 2013, I saw an investment "specialist" Bill Bohney at Huntington. We met twice and he assured me that I was rolling over my 401k accounts into a great product.
So shortly after he sold them to me. He left the company. So then I received 4 more calls from other bankers, which I didn't respond to. Then 10 months later, I received a statement showing that all my investments had been put to cash.
I called the bank and an investment counselor, Jill, set an appointment to come in and talk about my investments. She said Huntington closed the accounts because their fund performed poorly. She apologized about the 5.5% buy in fees that I had to pay for class A shares, but explained that if I wanted to buy an American Funds class A product, I could. She also said that Bill Bohney was not a great employee and only sold funds that gave him a good comission.
She said he was fired by the bank. So Jill and I went through a dozen or more fund options with American Funds. We then whittled it down to 5 funds that seemed to meet my needs. I went home and investigated the funds a bit online, read up about American Funds and they seemed like a long running, solid investment company.
Fast forward exactly one year.... I get a call from Joe Bowles. He says Jill is no longer with the company and wants to meet with me to discuss my account. I meet with Joe in early March of 2016.
I asked why my account was down $17,000 despite the stock market performing well. He said Jill put some of my 401k into good products and some into bad. He also told me that Huntington sent a letter about the closure of their old funds and gave customers a brief grace period to move them into investments at Federated Insurance. I asked why I wasn't given that option when I met with Jill and why she recommended spending another 5% of my money to but into American Funds.
He couldn't give me any answers. He also promised to review my portfolio and call to set an appointment to move some of the money around within American Funds products as to avoid additional fees. Fast forward a month.... he still hadn't called back.
So I called him yesterday to set an appointment to discuss this.
I'm probably going to just demand a check for my $110,000 balance so I can put it in an index fund with ETrade instead of getting f&*$#d raw by Huntington and their revolving door of so called "experts" yearly.
Reason of review: I have had no issues with my checking account with the bank. .
Huntington Bank Pros: Them in the begining.
Huntington Bank Cons: After they get your money.
Location: Indianapolis, Indiana
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Please avoid publishing any personal information and promotional content
You need a good fee only financial advisor.