JP Morgan - Thumbs Down
A quick short post of frustation for anyone that may care to read. JP Morgan Retirement Planning Services just plan do NOT get the idea of customer service. This all started about six weeks back when I noticed that several of my accounts had dated information regarding address information and decided to get that updated. All of them for the most part went without any major problem, most even allowing a quick change to be done (and then followed up with validation) on the internet, given that I had previously enrolled and went through the process to valdidate the internet access.
Not so with JP Morgan though. I could not change the address on the phone, via the internet, or even via mail with the proper form. However, after several calls through to the customer service, they eventually (after over two weeks of figuring out and going through process) finally got this special magical form which could not even be downloaded sent to my, you guessed it, NEW address that was given to the customer support person on the phone.
Now, I was expecting this magical form to have prefilled identifing information on it or the requirement of a notary public or some such creditial that would validate that it had indeed been recieved by me, filled out by me, and sent back all properly. No, in fact, it was sent to my new address (a PO Box at that), given over the phone, regular first class mail. The form required nothing other then the old address, the new address, and my signature (which I am pretty sure to this point they did not have the signature on file otherwise to even compare that too).
After attempting to fax it not one time, but three times the form went through. At least my fax machine indicated that it had done so. After waiting an additional near week to see the address change show up online and not seeing it I called customer service again. Turns out the fax machine was down that paticular day or had some kind of problems and hence the address change was likely not received - please resend it. After trying for three days off and on, I decided to just mail a copy of it. I tried off and on faxing for another three days and was never able to get a connection on the number that was verified.
Almost forgot, I asked somewhere in there to speak to a manager when on the phone with someone or via email. I got a call back at nearly 7:00pm when I was on the line with someone else. The extension number was garbled and cut off and so I was unable to return the call. However, I have no additional follow up from a manager in over two additional weeks. Again, if an irate customer asks in frustration to speak to a manager or someone that actually cares - lack of follow through is just that much more reason to be an even more frustrated customer.
Finally, some near six weeks after the process was began, I got the address change put through. Now, part of the start of this was consilidation of various 401K accounts I have in smallers amounts here and there into one. So I then requested the appropriate disbursment of funds to do so - and NOTE: address change can NOT be requested online or even over the phone, but a total disbursment of the funds contained in the account can be done online. Where is the logic in that security? As the markets have lost something like 10% of the value of my account over the last few days, I requested the express service and paid an extra $10.00 to have this done which included express USPS delivery. Now, some six days after the request, four after the amounts show as settled on the online system, disbursement still has not been received.
I am so glad that I reconsidered my original choice to consilidate additional funds into this account. JP Morgan - you need to get a basic customer service 101 seminar in place quickly. I would strongly suggest you seek and outside consultant, as I am not sure anyone inside the company has a clue what customer service means. Further, you need to evaluate your policies - address change nigh impossible - total disbursement of funds - easy as taking candy from a baby. The reverse should indeed be the case (though I personally thing given access creditials either should be a one or two step process via an online interface).
