Daniel Saxby-Pacific Life-1716936838

I had a variable annuity with Pacific Life for over 14 years. I decided it was time to transfer my IRA to Charles Schwab because the return on my investment was weak, and I was around 600.00 a year in fees. After I completed the application with Charles Schwab, the company contacted Pacific Life to request the transfer. Pacific Life transferred my account to Charles Schwab. This is when the nightmare began. Someone at Pacific Life made a mistake. The funds shouldn’t have been sent until they had received a custodial release from the investment advisor whos was the custodian on the account. Pacific Life realized they made a mistake and recalled the funds from Charles Schwab. The funds were transferred for the first time to Charles Schwab around March 24th. The funds finally made it to Charles Schwab around May 9th. It took six weeks to complete the transaction, which should have taken a few days. Over the six weeks, I talked to more than 12 customer service people and managers. The market had changed during the six weeks when the check finally showed up at Schwab. My account had lost about 675.00 in value. I explained my situation to Luke, a manager at Pacific Life. He had little empathy for my poor experience or the financial loss, even though his company made a mistake that cost me money, time, and frustration. My suggestion is to keep looking if you're considering Pacific Life.