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TIAA Review: Is It Safe, Legit, or a Scam? TIAA Complaints in 2025
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Is TIAA Safe and Legitimate Firm?
TIAA CREF brokerage service is a member of SIPC (Securities Investor Protection Corporation),
the primary insurer for brokerage accounts in the United States. Every TIAA CREF brokerage customer receives $500,000 of insurance.
Of this amount, $250,000 can be applied to cash balances. These amounts are the same levels that well-known brokers like
Charles Schwab and Vanguard offer.
TIAA brokerage is also a member of FINRA, the self-regulatory body in the
brokerage industry. FINRA oversees its member firms to ensure legal and ethical operations. FINRA helps to protect
investors by requiring brokerage firms to conduct business under strict guidelines.
Is TIAA a Scam?
If you check complaint-oriented websites on the internet, it will show that TIAA has received its share of complaints from
anonymous posters, but in general it has a good reputation with investors from that limited perspective. Considering everything mentioned in this article, we are very comfortable saying that TIAA is definitely not a scam.
Is TIAA Insured?
TIAA brokerage accounts are insured by the Securities Investor Protection Corporation (SIPC) up to $500,000 per account.
TIAA Complaints
TIAA the Better Business Bureau (BBB) standing is almost perfect A- rating. In the past 3 years, there were 30 TIAA complaints and all have been closed with the BBB.
Here's the breakdown of TIAA complaints:
- Advertising/Sales Issues - 2
- Billing/Collection Issues - 5
- Delivery Issues - 2
- Problems with Product/Service - 13
- Guarantee/Warranty issues - 1
According to the BBB, TIAA have not received any customer reviews. TIAA the Better Business Bureau (BBB) complaints and rating could be found
here »
TIAA Competitors
TIAA Fees
Stock and ETF trades: online equity trades are $0 per trade.
Mutual fund trades: Some mutual funds don’t require a transaction fee; others do. For funds with no transaction fee (NTF) funds, a short-term redemptions fee of $50 applies if shares are held less than six months. Transaction fee (TF) funds are $50 per trade; they are $35 per trade if customers work with a wealth management adviser through TIAA. Exchanges are $8 per trade regardless of order size.
Bonds and CD fees: U.S. Treasury securities: New issues are $50 per transaction; existing issues are $1 per $1,000 face amount.
Municipal bonds, government agency bonds, unlisted corporate bonds and mortgage-backed securities: $50 plus $2 per bond
CDs: Purchase minimums of $5,000; no commission.
Maintenance fees: For banking and brokerage accounts, there are no monthly maintenance fees or account minimums.
Common miscellaneous TIAA brokerage fees include:
- IRA termination fee: $130
- Transfers for an outgoing account: $50 per transfer
- Overnight check delivery fee: $12
- Wired funds fee: $25
- Stop payment order fee: $15
- ACH return fee and NSF/return check delivery fee: $25
- Reorganizations—voluntary: $25
It is difficult to locate specific fee information on TIAA reporting statements. In the fine print provided on each quarterly statement is a note that investment fees can
significantly reduce one’s retirement savings. Additionally, TIAA notes that account managers are permitted to contract with third parties who may present additional fees
to investments.
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