TD Future Builder messed up

TD agreed that there's something wrong and would call me after investigation. It has been more than a week now.
Anyone has experience regarding how long this kind of investigation usually take? Thanks.

so pissed...

I got a letter from them a few weeks back saying the $$ was invested into the wrong fund. later on the call with them I was told in order to cover some loss during the correction i was given 6 dollars .... wow ... 6 dollars .... totally speechless.... I was stunned that I cannot believe a product under TD umbrella can make such a ridiculous mistake... and later I have had ever worse experience with them. simple request like updating my info can take months and till now it hasn't been done ... withdraws disappeared for more than 10 days and nobody even bother to let me know !!!??? >

judith113 wrote: ↑so pissed...

I got a letter from them a few weeks back saying the $$ was invested into the wrong fund. later on the call with them I was told in order to cover some loss during the correction i was given 6 dollars .... wow ... 6 dollars .... totally speechless.... I was stunned that I cannot believe a product under TD umbrella can make such a ridiculous mistake... and later I have had ever worse experience with them. simple request like updating my info can take months and till now it hasn't been done ... withdraws disappeared for more than 10 days and nobody even bother to let me know !!!??? >

Did you notice that the mutual fund units are no longer always purchased on the contribution date? My company contributes to my account regularly on Thursday. When Future Builder was administered by TD Investment Services, the mutual fund units are always purchased on Thursday. Now they outsourced it. The MF units can be purchased on Thursday, Friday or Monday. More strangely, they do not always post the transaction within 1 business day. For example, I noticed, on a Monday, they posted a transaction made on previous Thursday. (No holiday involved).

This sounds fishy. The Administrator could buy the MF units for me on Thursday. But does not post the transaction. So if the price on Friday was higher, they can post it as a Friday transaction in order to benefit from the price increase.

hoveran wrote: ↑Did you notice that the mutual fund units are no longer always purchased on the contribution date? My company contributes to my account regularly on Thursday. When Future Builder was administered by TD Investment Services, the mutual fund units are always purchased on Thursday. Now they outsourced it. The MF units can be purchased on Thursday, Friday or Monday. More strangely, they do not always post the transaction within 1 business day. For example, I noticed, on a Monday, they posted a transaction made on previous Thursday. (No holiday involved).

This sounds fishy. The Administrator could buy the MF units for me on Thursday. But does not post the transaction. So if the price on Friday was higher, they can post it as a Friday transaction in order to benefit from the price increase.

Hi hoveran, it’s Jen from TD and we’re sorry to hear that you’ve had difficulties with your TD Future Builder Account. Please email us at customer.service@td.com (Attn: Social Media) and we'd be happy to ensure that your concerns are addressed. Thanks.

guys, you may want to check your account if you unfortunately happen to a TD Future Builder customer. They screwed up again, and this time, it's more like stealing money.

Two incidents recently,

1. I hold a mutual fund in my TD Future Builder account. Once day, I noticed that the per-unit distribution I received did not match the amount published on the mutual fund management company's website. I called TD Future Builder. Got a reply 1 week later, the rep basically rumbled all the way through in the phone call, bascially saying "we are correct, we are all correct, the number you got from the fund management company's website is wrong".

Apparently she is lying. I contacted the fund managment company and got the money back.

2. if you hold a money market fund, you should get a partial distrbution if you sell before the distribution date. But I found TD Future builder does not give you that. So I contacted TD, TD says now they are implement the adjustment.


Basically stealing moeny in all ways they can.

So when are you closing your account?

Td Bank is trash anyways. Like all banks they treat employees like crap and their bogus "longer hours" just means more pimple faced college kids doing the work.

Friend was a Financial Advisor there and was missing his goal by maybe a few points he said. Yet had a honours degree at U of T in Financeand wanted to apply for Business Analyst job and his branch manager denied him cause he couldnt meet his sales goal -- what bs! company going down the drain, told my friend to leave and got a job a p&g three months ago...good riddance.

Sanyo wrote: ↑Td Bank is trash anyways. Like all banks they treat employees like crap and their bogus "longer hours" just means more pimple faced college kids doing the work.

Friend was a Financial Advisor there and was missing his goal by maybe a few points he said. Yet had a honours degree at U of T in Financeand wanted to apply for Business Analyst job and his branch manager denied him cause he couldnt meet his sales goal -- what bs! company going down the drain, told my friend to leave and got a job a p&g three months ago...good riddance.

And the best off-topic award for 2012 goes to...

Having said that, I agree that their systems are antiquated with a few people who actually know what they're doing when setting these things up. Meh.

Sanyo wrote: ↑Td Bank is trash anyways. Like all banks they treat employees like crap and their bogus "longer hours" just means more pimple faced college kids doing the work.

Friend was a Financial Advisor there and was missing his goal by maybe a few points he said. Yet had a honours degree at U of T in Financeand wanted to apply for Business Analyst job and his branch manager denied him cause he couldnt meet his sales goal -- what bs! company going down the drain, told my friend to leave and got a job a p&g three months ago...good riddance.

Lol

I'll put it to you this way. If you want to move ahead, you can and they will push you but you gotta prove yourself. Missing your goals is NOT meeting the minimum set out. One will not move anywhere at that rate with any company, not just with TD.

wm009 wrote: ↑So when are you closing your account?

when my employer no longer uses TD for administering group rrsp program, i guess

Is future builder just an employee plan made for saving for retirement? Or can you invest in a tfsa for the short term?