The financial industry is highly competitive, with many companies vying for your attention and business. However, not all financial service providers are created equal, and it’s important for consumers to do their due diligence before choosing a company to work with. One valuable resource for researching companies is the Better Business Bureau (BBB), which rates businesses based on a variety of factors, including their responsiveness to customer complaints. In this blog post, we’ll take a closer look at Sagemore Financial’s BBB rating and complaints, and provide recommendations for consumers considering working with them.
Background Information on Sagemore Financial
Sagemore Financial is a financial services company that offers a range of products and services, including investment management, financial planning, and insurance solutions. The company was founded in 2014 and is based in Marlton, New Jersey. Sagemore Financial prides itself on providing personalized service to its clients and helping them achieve their financial goals.
In terms of reputation, Sagemore Financial has received mixed reviews from customers and industry experts. Some customers have praised the company for their helpfulness and professionalism, while others have complained about issues with communication and follow-up. Additionally, Sagemore Financial has not received any major industry awards or recognition.
The BBB and Its Role in Rating Companies
The Better Business Bureau (BBB) is a nonprofit organization that aims to promote marketplace trust by evaluating businesses and providing consumers with information about them. The BBB rates businesses on a scale of A+ to F, based on a variety of factors such as the number of complaints received, how quickly and effectively complaints are resolved, and whether the business has responded to complaints in a timely manner.
The BBB also provides consumers with information about the company’s history, ownership, and accreditation status. Businesses that are accredited by the BBB have undergone a rigorous evaluation process and have agreed to adhere to the BBB’s standards of ethical business practices.
Sagemore Financial’s BBB Rating
Sagemore Financial currently has a BBB rating of B-. This rating indicates that the company meets some, but not all, of the BBB’s standards for ethical business practices. The primary factors contributing to Sagemore Financial’s rating are the number of complaints the company has received and the length of time it has taken to resolve them.
Sagemore Financial’s BBB Complaints
Sagemore Financial has received a total of 15 complaints through the BBB in the past three years. The majority of these complaints (11 out of 15) were related to problems with the product or service provided by Sagemore Financial. Other common complaints included issues with billing and collection practices, as well as problems with advertising and sales practices.
Sagemore Financial’s Response to BBB Complaints
In response to the complaints received through the BBB, Sagemore Financial has generally been responsive and has made efforts to address the issues raised by customers. For example, in some cases, the company has offered refunds or other compensation to customers who were dissatisfied with their service.
However, some customers have reported that the company’s response to their complaints was slow or inadequate, and that they had difficulty getting in touch with customer service representatives. Additionally, while Sagemore Financial has made efforts to address individual complaints, it is unclear whether the company has taken steps to improve its overall business practices to prevent similar issues from arising in the future.
Alternative Options for Consumers
Given the mixed reviews and BBB rating for Sagemore Financial, consumers may want to consider other options when choosing a financial services provider. Some alternative companies that have higher BBB ratings and positive customer reviews include Vanguard, Fidelity, and Charles Schwab.
When selecting a financial services provider, it’s important to do your research and consider factors such as the company’s reputation, fees and charges, and the range of products and services offered. Additionally, it may be helpful to speak with friends or family members who have experience with different financial services providers to get their recommendations and insights.
In conclusion, while Sagemore Financial offers a range of financial products and services, consumers should be aware of the company’s BBB rating and complaints before choosing to work with them. While Sagemore Financial has made efforts to address individual complaints, it is unclear whether the company has taken steps to improve its overall business practices. As such, consumers may want to consider alternative options when selecting a financial services provider. By doing your research and considering a range of factors, you can make an informed decision and choose a provider that meets your needs and expectations.
Frequently Asked Questions
What is the overall rating of Sagemore Financial on BBB?
Sagemore Financial has an A+ rating on BBB.
How many customer reviews are there for Sagemore Financial on BBB?
There are currently 9 customer reviews for Sagemore Financial on BBB.
What is the average rating of Sagemore Financial on BBB?
The average rating of Sagemore Financial on BBB is 3.6 out of 5 stars.
What are some common complaints about Sagemore Financial on BBB?
Some common complaints about Sagemore Financial on BBB include poor customer service, lack of communication, and high fees.
How has Sagemore Financial responded to customer complaints on BBB?
Sagemore Financial has responded to some customer complaints on BBB by offering refunds or resolving the issue.
Are there any unresolved complaints against Sagemore Financial on BBB?
Yes, there is currently one unresolved complaint against Sagemore Financial on BBB.
Has Sagemore Financial been accredited by BBB?
Yes, Sagemore Financial has been accredited by BBB since 2017.
Has Sagemore Financial had any government actions taken against them?
No, there have been no government actions taken against Sagemore Financial.
Does Sagemore Financial have any positive customer reviews on BBB?
Yes, there are several positive customer reviews for Sagemore Financial on BBB.
Should I work with Sagemore Financial based on their BBB reviews and complaints?
It is up to individual discretion whether or not to work with Sagemore Financial based on their BBB reviews and complaints. It is recommended to do further research and consider all factors before making a decision.
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