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Matthews shareholder service. Yup.

CrashCrash
edited March 2015 in Fund Discussions
The Matthews funds made money for me. But service to shareholders was, in my experience, patience-trying. Bottom of the barrel. I even got YELLED at. In addition, more than once, (BNY/Mellon "service providers" for Matthews) the agent chose to ARGUE rather than to facilitate. Another time or two, a great deal of exasperation could have been avoided if I was offered a quick explanation. Or, perhaps the underlying problem is that the agent didn't KNOW ENOUGH to be able to explain what I needed to know. That should surprise no one, if it were the case...Shameless, the way they stick people in a chair with a phone, and just say: "OK, now SWIM."
...And now this latest: I owned MACSX in taxable. Cashed-in all shares sometime after the New Year. No problem. Surely, the tax statement will come, early next year. I forget when the statement came, confirming the transaction.

I held MAPIX, MEASX and MAINX in IRA. Transferred it all to TRP. I received a confirmation from Matthews in early February, but ONLY with info. re: MAPIX, not the other two.

I called a few days ago and explained that I had owned 3 funds, but was in possession of a statement pertaining to only one of them. The agent asserted that statements were sent re: all three of them. (Then why did only ONE reach me? You can't blame the USPS here, in this case--- which is what a great many of them like to do.)

After making sure to communicate to me that there was no problem at THEIR end, the snooty agent promised to send statements for the other two: MEASX and MAINX. (I recall referring to "the bond fund." She said, "I don't see a bond fund here. I see Strategic Income." Duh. I replied: "That IS the bond fund.")

So, an item came today, from Matthews. It is a statement pertaining only to MEASX. Yup.
"You couldn't hit water if you fell out of a blankety-blank boat."
---Crash Davis to Nuke LaLoosh in "Bull Durham."

Comments

  • MarkMark
    But otherwise it was all good right? Sometimes there just is no bottom to the hole. Sorry.
  • CrashCrash
    Mark said:

    But otherwise it was all good right? Sometimes there just is no bottom to the hole. Sorry.

    You said it, man.
  • JohnChisum
    It sounds like you have two out of three. Do you think they can mess it up anymore now that it's one fund only to deal with?
  • InformalEconomist
    It isn't Matthews. It's BNY/Mellon, which provides services for an increasing number of fund families.
    (They do seem to make more errors with Matthews, however. In my experience.)
  • hank
    edited March 2015
    Agree - sometimes it just feels better to pack-up and move on. Good therapy - as long as you don't end up shooting yourself in the foot in the process.

    Did that recently with a local bank that had "dis'ed" us. I mean - free checking is free checking. Right? Took but 30 minutes to drive down the street and open a new account somewhere else. Even gave us year's worth of free checks.

    Not limited to financial institutions. Service is falling everywhere. We find hotels falling over backwards to enroll us in their "super-duper", "premium", "platinum", "rewards members", "privileged" and "first-class" programs at check-in. Than we enter the room and discover burned-out light bulbs and somebody else's left over coffee grounds in the coffee maker. Yuk.

    This diminishing of service generally would make a great thread - but pretty off topic.:)
  • CrashCrash
    edited March 2015
    Yes, it IS BNY/Mellon, in this case. But it is going on everywhere, within government, private enterprise... But what kills me and melts my socks is this sort of thing, ON TOP of the crappy service: "I am your trusty service provider. I don't know shit, and I'm being paid peanuts. I know how to answer a phone and push the right buttons. Beyond that, the conversation you're having with me right now is a crap-shoot, if you're calling with the expectation that I'll give you ACCURATE information and process your request properly. But don't you dare get huffy with me, just because the level of service I provide isn't worth the kleenex you just blew your nose into. We all must be politically correct and understanding. And overly-patient. And polite. Even though talking to me is an exercise in futility. If I decide that I don't like your TONE, I will make THAT the issue. Because I'm not quite an adult and I can't handle it when people react as expected when faced with a screw-up like me, your trusty service provider."
  • [Deleted User]
    The user and all related content has been deleted.
  • CrashCrash
    Thank you, Maurice.
    I was quick, and on top of it, just after I requested the in-kind transfer. Institution to institution. And the amounts that showed up in TRP are just what I expected. So there's no worry, there. It's just a matter of the Matthews statements, as described above.:)
  • CrashCrash
    We can put this one to bed. Called today and arranged for the last of the three to be sent to me via USPS. The agent was actually a good LISTENER and was helpful.
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