Yesterday I discovered that Wells Fargo no longer manages nov 401k. I never received mail or an email about this. Well I was laid off a few years ago, I made the mistake of not rolling to a new account.
I did find my account with the new company, but upset about NOVs lack of communication about this transition. But then again, not surprised... Lesson learned and will finally roll to Fidelity.
I've been gone for 3 years and i got all the notifications from Wells Fargo and now from Principal. Maybe their emails went to your spam folder?
I never got any notification from Wells Fargo about this change. Also, since I am no longer with NOV, I did not receive anything form them either.
Company sent a mass email to all employees
Company is Principal and the reviews are not good.
Company is Principal. Reviews are not good.
Wells Fargo sold its retirement unit to Principal so this effected all Wells Fargo retirement accounts.
https://www.reuters.com/article/us-wells-fargo-divestiture/principal-financial-to-buy-wells-fargos-retirement-unit-for-1-2-billion-idUSKCN1RL1FH
Your only covered for circa £85k by the FCA so technically your screwed if your worst fears come to fruition.
What bank is our 401k with now??