From the time TIAA received my paperwork in good order until the time they transferred the money out, it took over 35 days. Like, wtf? Shouldn’t the more than a few days. What goes on?
3 replies (most recent on top)
All done deliberately to slow down the assets going out and is totally silly. Once a person has made up their mind to move elsewhere slowing it down won't do anything but cost the firm more money but doing it in a highly manual way.
@ap that's pretty industry standard tbh. Fidelity even mails rollover check to the person instead of directly to the other institution.
The last straw was when they snail mailed the check!