ComplaintsforTexas College Planning Advisors. LLC
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/26/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
The Texas College Savings Plan allowed my minor son's account to be transferred to a fraudulent bank account with no attempt to authenticate the fraudulent activity via multi-factor authentication. My husband's email was hacked giving the hacker access to his username and password. Because there is no secondary authentication, they allowed a new bank account to be added (for the first time in 15 years) and transferred all the funds to this bank account within two weeks. They did not attempt to validate if this bank account was valid nor did they flag the activity as unusual. They do not have multi-factor authentication today and have no safety checks to validate bank accounts added are real. They are claiming no responsibility and are withholding information they have gathered investigating the case including details about the fraudulent bank account, a claim number with the fraudulent bank, and even a contact at the bank familiar with the case. The only way we can reach the contact at Texas 529 is via their ***** number, throughout this fraud, they have not provided us with direct contacts for people and have not provided regular updates despite being contacted a number of times via phone and email.
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
1 total complaints in the last 3 years.
1 complaints closed in the last 12 months.