Is newportgroup.com Legit?

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 DID NOT FILE OUR FORMS 5500 FOR 4 YEARS! Do not return phone calls and causing us a massive IRS penalty that we will have to fight and request waiver. They are either incompetent or unethical and I am switching ASAP

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

Rollover Check received by their bank in NYC via FEDEX at 8:17AM March 4th (signed for by Bank). Not deposited yet as of March 8th. NEWPORT Customer service (less than professional) said it may take two weeks for it to get into my account. Two weeks to have your money put into their account is ludicrous. It also is fiduciary negligence. Would never recommend any employer use this entity.

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.

Just simply trying to log into my account. Answered all question, SS, birth, address, security question, and missed one. I was completely locked out and dealt with incredibly rudely. Ashley and Cathy may be the least accommodating service representative. Then was locked out given no options. I CANNOT ACCESS MY MONEY OR ACCOUNT. The worst financial company I have ever dealt with an advise anyone thinking of using their services to stay far away.

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!

After reading some reviews from employees/former employees, I completely understand why their customer service is so bad. You can't get anyone on the phone, they can't answer via email unless you give them verbal access, (see point #1),l when you do actually speak to someone, you have to repeat yourself many times because you keep getting transferred to someone else. Forget about going online, I have only logged on successfully one time. I just want to give them my new address, it should be this f-ing hard!

Well I'm glad I'm not the only one who hates this company and their unethical practices. The fees they charge you are outrageous and good luck trying to cash out and get your money. I spoke to 3 different representatives so far in the last two weeks and they all gave me different information regarding how to cash out my balance. I predict a CLASS ACTION LAWSUIT in the very near future.

Management expects too much from employees even though they don't provide adequate support. They set unrealistic standards, and they are rude to employees who make small mistakes. The owner is even worse when it comes to being ill-mannered and obnoxious. This company should definitely be on your "must avoid" list.

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?

Transferred fund from another 401k.Newport Group must be cheaper than the former group, because there apparently is no one there. I've been on hold for 59 minutes and counting with no estimate in site of getting anyone to help me. Bad enough there was no communication of the change of administrators. Now there isn't a chance to access my account online or to remove my funds.

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.

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.

This company is an absolute scam. I have my retirement account here, and they will not let me transfer my money out due to a name change. They will not accept government identification which is the highest proof of identification, instead they require you have a gas, utility or water bill in your name. This is a weird, sexist way to hold my money hostage, and I do not recommend anyone use this company.

Newport is the worst company to trust YOUR money with! No statement sent in last 16 months. I have tried for months to get a straight answer on where any current information is or who to even contact to resolve these matters. The customer service reps are oblivious to any resolution. I finally told the rep today that I had no choice but to call my State Department to start an investigation on where my money and statements are. When I think of the Newport name, all I can think of is SCAM!! No legit answers and no one knows of a higher up to contact. Stay away from Newport!

This company has the most unknowlegable customer service reps. They have no clue what there doing, they laid for 2 weeks saying they don't have a supervisor. Week 3 of complaints and finally they found someone. Now there is an error they can't figure out. My rent is due and we're going on a month +.

Requested withdrawal. Money separated out in 2 checks for the Roth and non Roth contributions. One check lost. This company refuses to wire money. They send checks with no additional security, tracking, and do not send it certified. Customer service kind and understands concern but hands are tied. If your company is looking for a retirement group, do not use Newport Group. They also have high fees compared to any other retirement companies used by previous employers in my experience.

Terrible business. I’ve been with two other administrators but never have experienced this. They charge you for the same thing over and over again. The agents you speak to have no power to make changes and they will make you wait on the phone forever (block out an hour or two!)They charged me for a fee and then didn't disclose it on the letter they send. After going through statements online I find that there was additional funds that they took and called it a participation fee (without informing me). Mind you I’m paying a participation fee for a closed account, and I paid to close this same account in the prior year. I’ve never seen a company thats run so badly or trick its customers into additional fees so blatantly.DO NOT GO WITH THIS COMPANY! As an employer or employee you will likely regret your decision.