Highlighted
Contributor

Victory Capitol has taken over the USAA 529 plan. They are unreachable. Noone answers their phones- we have held for 2 hours and no customer service rep ever picks up. The web site is always experiencing technical difficulties. We have no access to our children's funds and can not pay college tuition that is due. We have tried calling USAA but they said they can not help as they have nothing to do with 529 plans any longer.  Victor Capitol is an awful company and USAA should be ashamed they gave their members money to a FRAUDULENT company.

9 REPLIES

Highlighted

Oh no @SunValley, I do regret to hear of this experience. I was able to locate your profile and will engage the appropriate area. Once reviewed they will contact you, we do appreciate your patience in advance. -Emily 

Highlighted

SunValley: Please add me to your list. I am so angry about this I'm ready to start shopping for insurance elsewhere as well. You can GUARANTEE that none of my investment portfolios will ever again touch USAA or Victory Capital. No more. The Year is 2020 and none of us can access customer service for investment accounts. Are you kidding me? I've tried other numbers at USAA and at Victory Capital. Spoke to powerless individuals who referred me to the dysfunctional 800 number at Victory Capital for USAA Investments. SOMEBODY at USAA needs to take this job on TODAY as their problem to fix. HELP!

Highlighted

I'm having the same problems.  USAA and VCM need to be investgated, maybe even sued over this BS.

Highlighted

I have to agree. I held the phone with Victory Capital for a full hour and simply got disconnected. At the very least they could have one of those "leave a number and we'll call you back" things, but it seems clear they are "keeping expenses low" by skipping customer service. Grrr.

 

 (FWIW: I just wanted one piece of data, that should be publicly available. Does anyone know the projected capital gains distribution for USAUX next month? USAA used to publish this information. I found it for other Victory-held funds, but not this one. Last year they over-managed that fund and that cap-gains distribution cost us several thousand in income taxes! USAA, you let us down...)

 

dave

 

Highlighted

I think I should follow up here. After I waited (unsuccessfully) for over an hour for Victory Capital's help by phone, I sent email to both Victory Capital and USAA asking for help; USAA got a second email chastising them for dropping the ball by handing things over to VC. The very next morning, I got a reply email to both the USAA messages -- nothing substantial, but at least it was recognition that they got my email. A day later, a USAA rep called me and spent perhaps a half hour working with me and going the extra mile to try to get the information I wanted. A week later, another USAA rep called me (again!) just to check up that my issues had been addressed. I was very impressed with this demonstration of USAA's legendary customer service. By contrast, the only thing I got from Victory was an email about 2 weeks after I made contact, with them kind of saying "the information posted is all that is available", which I guess is correct but kind of misses the point. The lessons here: if you need prompt access to a person you need something like USAA, and if waiting for help from VC is an option, use email rather than phone. (I should all this was happening during VC's initial takeover of USAA accounts, when lots of people had questions; potentially in months and years to come their staffing will prove adequate for a more-normal rate of inquiries.)

Highlighted

@dave,just dave, thank you for following up with us and sharing your feedback about your recent experiences with USAA and Victory Capital. I will forward your feedback to the appropriate team. Thank you.- Rhonda 

Highlighted

Could not agree more. Shame on USAA for enabling and tolerating this for what is supposedly a coveted membership. I am on Day two of trying to withdraw funds and close an account with Victory Capital. THEY DO NOT ANSWER THE PHONE! THEY HAVE NO CHAT! THEY DO NOT RESPOND TO E-MAIL! THEY DO NOT RESPOND TO SECURE MESSAGING! As a bonus, when I try to withdraw funds through online transactions, it says I have to contact a member service representative. THERE ARE NO MEMBER SERVICE REPRESENTATIVES! On hold yesterday THREE TIMES for ONE HOUR each time...no answer.

Is there ANYONE at USAA that cares about this, can engage on it and fix it immediately? I want to separate myself and my money from Victory Capital as FAST and as FAR as possible. THIS IS DISGRACEFUL!

Highlighted

I am having the same issue.  It doesn't recognize my member number to create an account.  Sit on hold forever, really dissappointing.

Highlighted

Ditto. I'm having the same issues.  USAA and VCM are a disgrace.  They need to be investigated.