AboutRichard E. Reyes, CFP Expertise I can provide answers to questions relating to retirement especially relating to; income distribution, tax efficiency, long-term care insurance, life insurance, estate planning, asset protection, variable and fixed annuities, alternative investments and prudent portfolio design.
Experience Through the years Richard has built a reputation as one of Central Florida's premier retirement income specialists by providing sound, unbiased wealth coaching.
We believe that Financial Planning is the problem and Wealth Coaching is the solution. The Wealth Coaching process gives you Peace of Mind, so you can stop worrying about your future. It helps you find happiness as it guides you in the TRUTH of investing, by teaching you how to make wise choices as you journey through your life’s stages. It is all about your relationships and what you value, not your net worth.
Organizations Financial Planning Association
Junior Achievement
Publications Seminole Success Magazine “Retirement Planning”
Seminole Success Magazine “Small Business Snapshot”
The Orlando Sentinel – Ask the Expert Financial Section (Various)
Greater Orlando Broker Agent Magazine “The New It”
Senior Market Advisor “Random Reader, Random Questions”
Education/Credentials B.S. University of Florida, Gainesville, FL
CFP Certificate, University of Central Florida, Orlando, FL
Awards and Honors 2005-2006 America's Best Financial Planners
2006-2007 America's Top Financial Planners
2007 Orlando Business Journals "Top 25" Top Financial Planners in Central Florida
Question I have a pension plan through my company (no longer employed there) Bruel & Kjaer Instruments. I was notified in January that I could now draw on the plan, retire the plan, roll it over, etc. I called Mass Mutual and requested the documentation to roll it over. I was told it would take 2 - 4 weeks and I had 7 - 10 days to get it back from their mailing date. Nothing ever arrived via mail and I called again. They informed me that they had "cancelled" my request because I put my wife on the phone (gave them permission to speak with her. I had just come home from major surgery). I again initiated the request for the documents and my options and they said it would take 2 - 4 weeks to prepare the paperwork and 7 - 10 days for mailing and that it must be returned within 7 days....doesn't make sense to me. AGAIN NOTHING arrived via mail or otherwise. I called Mass Mutual again and was told that it had been mailed and they would mail it again. Nothing arrived! I called Mass Mutual again and spoke with a supervisor who promised to call back within 48 hours with some detailed information. He did not call back. I called Mass Mutual again and was not allowed to speak with any supervisor or case worker or analysist. I was told that they would process the package but now it was set to roll over into an annuity on June 1st, 2008. I faxed a POWER OF ATTORNEY to Mass Mutual which authorizes them to speak directly with my wife, Colleen. I was told yesterday that it will take seven days to have that on file. I mailed "certified mail" to Mass Mutual today a letter stating my intention to roll the funds over to an IRA at another company and a copy of the POA for Colleen.
I'm tired of the games and I want my funds available to me. This account was frozen many years ago and the subject of a legal battle (I believe) and much controversy. Now that we were notified of the ability to roll it over, draw on it and have our options made available to us, MASS MUTUAL WILL NOT COMPLY.....
I asked if I could drive to Springfield and pick up the papers and/or sign them there in their office. I was told they not allow visitors into the building. I AM SO FRUSTRATED and WANT MY FUNDS MOVED FROM MASS MUTUAL....I have called the insurance commissioner in Boston and was told that the do NOT control or have juristiction for insurnace company held pension plans. So what do I do now.
Steven Zarach
DO NOT INVEST WITH MASS MUTUAL.......
Answer Steven, thanks for your question. It is obviously not great to hear about your troubles with the investment company. Unfortunately, there is nothing that myself or many people can do. You can carry your argument all the way to the Supreme Court probably and little could be done. Another thing to remember is that the Insurance Commissioner probably has little care about your money.
I would suggest to you continue contacting Mass Mutual. They have your money, they are in control. Find your way through the maze of customer service reps and befriend them. Ask for help in a very nice manner and do not bring up the past. Follow these rules and I am certain you will get this problem resolved.
Being nice always seems to work.... Hope this helps.
P.S. Of course do not roll over your money to a Mass Mutual IRA account.
