JP Morgan Money Mismanagement

I recently had the unpleasant experience of attempting to make a withdrawal from a 401k account managed by JP Morgan. That should be the first sign that this was going to be an unpleasant experience at best. After going back and forth for over three months, I was finally able to withdraw less than half of what I was originally told. Almost every aspect of the experience was painful and felt like being taken for a ride by con men. It's no wonder the world has lost faith in our banking and investment system. With companies like this treating customers like step-children, I would hope that everyone sees the reality and decides to cut the cord as I have. They make bad investments, customers pay the price, and they write it off as market fluctuations. I no longer contribute to this system and have taken as much of my money out as they let me (there's the other big problem, it's my money) and invest in something I can hold in my hand, like silver or gold.

Then they have the nerve to ask me to complete a customer satisfaction survey. Open the floodgates:

Taking over three months to complete a withdrawal is beyond unacceptable. Working with a business that consistently fails to communicate status of a withdrawal or even acknowledges responsibility for failures in communication is also a serious let-down to the customer. I will say that the initial people who answer the phones are friendly, courteous, and apologetic for the failures of the company and other departments which refuse to speak directly to the customers. That was the only part of my interaction with the company that was not a completely miserable experience.

Given the overall displeasure with the banking and financial industry, I would think that this business would want to make all efforts to maintain customer satisfaction and trust. Maybe that's not a part of the mission statement anymore? The retirement planning division also needs to recognize that customers CHOOSE to allow JPMorgan to manage our money, but the company responds in a manner that suggests they believe they are entitled to and unwilling to surrender customer funds without a fight.

Customer complaints: http://www.epinions.com/review/JP_Morgan_Chase_Bank_1/content_362834333316