Understanding The BBB
As a consumer you should understand what the BBB is actually providing to the public. The BBB is merely a collection point of complaints and responses in same way that restaurant and movie rating websites operate. They attempt to apply their scoring system to the engagement. What they are not is an organization that provides any protection or guidance or assurance of compliance or safety to the public as it relates to any given company. Their rating system, as it relates to our organization, does not deal with the legal and compliance issues surrounding our business. The BBB is not able to tell you if we are financially sound, in compliance with the State and Federal regulators, or what the results of any audits that we are subjected to on an annual basis.
You should also understand that we are a financial institution and that we handle numerous pieces of sensitive and confidential information regarding your account. This requires us to adhere to strict policies, practices and methods to insure the safety of your identity and the protection of your financial accounts. Posting public complaints on websites, such as the BBB, that require us to respond can pose serious identity theft and account theft risks. Websites such as the BBB are not licensed or regulated in any manner. Therefore, you have no assurances that any information that you provide is held in accordance with the best practices used by the Federal Government or regulated financial institutions such as American Estate & Trust. Therefore, it is our policy to not respond to any complaints posted on websites such as the BBB. This is for your safety.
I would also encourage you to review some the information below regarding websites such as the BBB. This will help you better understand what the BBB is and what they provide to the public.
Selecting a financial institution for custodial services is an important decision. We understand that potential and current customers want to conduct due diligence in order to insure that they are dealing with reputable companies. For some industries and businesses, the BBB may be one good data point for reaching this assessment. But, the BBB is not the ultimate authority, nor are they a valid indicator for our business. You simply will be given a false impression of a custodian if you rely on the BBB. We encourage you to ask questions, speak with our support team and business development managers in regards to any questions or concerns that you may have.