Review Time
Customer service with this company has deteriorated and is sinking like a cement boot in the ocean. When I initially signed up 4 years ago, and needed help understanding something, I could just call and talk to an actual person, which is why I signed up in the first place. There are just some things that require back and forth conversation without typing til your fingers bleed, and that need clarification to make sure you're understanding important money issues correctly, and don't make a mistake. The wording and terminology of Nabers online info and instructions on things is not always clear for the person who is not familiar with this stuff. The decline in customer service started with simple impatience when I called, because I wasn't as experienced at this stuff as they are. But it has evolved to essentially not being given the "privilege" to talk to a real person at all, while they rake in the money for "managing" all of these solo 401k's. That is a bait and switch, IMO! Get you signed on with auto-withdrawal, and then erode the services to the poor annoying frog in the boiling water.
Opened a solo 401(k) 7 months ago through my new financial advisor. Received a seemingly urgent email from Nabers 12/26/24 stating I am required to complete a contribution form before end of year even though I don't know my contribution amount until after taxes, and despite having until 4/2025 to contribute for 2024. Back and forth emails, mostly not answering my question for 4 days, and referring me to blog and chat bot. "Required" form not even on my dashboard and come to find out they want you to "upgrade" to a service with a monthly fee that will cost $348/year to access the online form. Also getting annoying emails that my account "is at risk of cancellation" for expired credit card, when my credit card is up to date in their records. Seems to be all automation/no customer service. Can't wait to get my $$$ out of there. I've never had a plan admin where you can't call a human
Nabers is a good company. I am revising my earlier review which was based on their additional fees. At that time I had not realized there were additional features for the extra fees. The additional charges were not well communicated. At first they were raising the annual fee by over 200%, and then based on feedback from customers they were keeping the fees the same, and then afterwards they communicated a $29 a month extra charge, and I had not realized this was optional for extra services. We did sign up for the service with the extra fees because we find these features are very useful including the video lessons and contribution tracker. I would give them 5 stars, but It has become very difficult to get questions answered, and that is the reason I am giving them 4 stars. When we first signed up with them, it was easy to get excellent, fast answers, and it was the reason we chose their company over others. Now they have grown quite a bit, and it is much more difficult to ask questions.
Really bad communication!Yeah they are right on it when you apply but it's all down hill after that. Phone is worthless ... goes to a recording to tell you to email. Email to info or support so you get different people. They have responded at all hours but ... right now I'm trying to renew the llc for another year. I have no idea if they got the email I sent 3 days ago. There's just no way to get help. They are also expensive. 1200 to set up and 300/yr. Shop around!
I have 3 different accounts with Nabers and after a difficult situation they looked at intended new policy and decided to not go that direction. Rather they will hold my accounts as legacy ‘plans’ at the same annual maintenance cost I signed up for. For this I am grateful, and I now am waiting to hear how long they say my legacy plan rate will be honored. Once I hear about that I will revise my review again. Thank you Nabers for reconsidering you anticipated change, and holding your integrity to maintain my current ‘Legacy Plan’.
Rachel and the team at Nabers has been FANTASTIC to work with. They always answer any questions I may have promptly and thoroughly. Their customer service is superb. I highly recommend this company to anyone a self-directed IRA or 401k. - Robert D
UPDATE: I read your reply. Why would I want to pay 1% on 1 Btc when I can pay way less like .10% or less if don’t use the mode you control. 1% is higher not lower than what one can pay without your control. I’d rather pay $60 in fees not $600 in fees. Today I was misled by Rachel Naber. I dont know if other companies do this but I would not recommend this company based on their missleading page about fees( it makes it look like its the exchange fees they are quoting not the fact that they tack on additional fees to every trade) I'm sure she'll say its in writing somewhere but it is still missleading and vague where most people look. Her email was about Gemini Exchange when I was concerned about why is my fee sometimes 10X more than other times: Here is her email: "We only control the fee on advanced and that is only allowable on desktop.If you use your mobile phone to do a trade, it's at the Basic fee level. They are not similar. To capture the lower fee, you must use the desktop web login, not the phone.If you made any trades on your mobile device (iPad, phone, etc), it will not be subject to the lower fee."This makes it sound like if I use the method that she controls I will get the lower fee, but it is NOT TRUE, to avoid the high fees you need to avoid their advice and you can use your phone, it is much lower than what she recommends.. I decided to test it out and found this: Using the computer advanced method as she recommends the fee is $637 and using the computer simple method it is now only 95$. So very different fees.With t advanced mode in Gemini, the fee "They control" it is much higherUsing the phone app she infers its not the lowest way, but this is not true. On the Phone using the app in advanced mode the fee was $95 and using the phone app in simple mode it is still only $95. They both have same low fees, and these are the fees that "they don't" control. I never knew this until I asked Gemini why are my fees so different and they told me it is because of Solo 401KWhen I showed her this she sent me this: The fee for our clients is 1% on all trades. This is shown on the account setup page as wellNothing about the fact that I can get lower fees in simple mode on the computer or on the phone app with either simple or advanced trading modes, and that she was wrong about the phone app being more expensive.
I did a huge amount of research before choosing both a Solo 401k provider and Self-Directed Roth IRA provider. I ultimately decided upon Nabers for both of those important financial tools and am super happy I did so. I have now been using Nabers for several years for both my Solo 401k and my Self-Directed Roth IRA. They have deep expertise and are reasonably priced. They are very well organized and provide clear guides in the documentation process. And they provide quick ongoing support for any questions that have arisen over the years. Outstanding. I have also recommended them to my sister for her business and she is extremely pleased with them too. I would unreservedly recommend Nabers to anyone looking to set up a Solo 401k or Self-Directed Roth IRA.
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