I am writing to formally escalate my concerns regarding the handling of my Neo Invest account and a withdrawal request that has remained unresolved for an unreasonable period of time.
I currently have approximately $11,600 invested through Neo Invest. My intention was initially to transfer these funds to Questrade. A transfer request was submitted through Questrade; however, after more than three weeks, no meaningful progress or response was provided regarding the transfer.
As a result of this delay, I decided to liquidate my investments and withdraw the funds directly through the Neo Invest app. I submitted a request to withdraw all funds on May 22, 2026, at approximately 10:41 AM.
Unfortunately, due to what I was later informed was a back-office error, the withdrawal request was cancelled. I subsequently received an email from Corex Financial Inc. requesting my Neo Invest account information and bank account number. At the time, I was unaware that Corex Financial was associated with Neo Invest and therefore did not provide the requested information.
I immediately contacted Neo customer support. Initially, the representative informed me that Corex Financial was not associated with Neo. After further consultation, the representative corrected this statement and advised that Corex Financial was in fact associated with Neo. However, I was also advised not to provide my account details through email. The representative indicated that the matter had been escalated to OneVest for resolution.
When I asked about the expected timeline, I was informed that OneVest could take up to 20 business days to respond, and that it could take an additional 11 business days after resolution for the funds to be received.
It has now been nearly 20 business days since the matter was escalated, and I have not received any communication whatsoever from OneVest. This lack of communication is particularly concerning because I experienced a similar lack of responsiveness regarding a previous issue, which was one of the primary reasons I decided to move my investments away from Neo Invest.
In addition, I submitted a formal complaint on May 22, 2026. To date, I have not received an acknowledgement that my complaint was received and registered. My understanding is that complaint-handling requirements require firms to acknowledge complaints within a reasonable timeframe, and this has not occurred.
The ongoing delay is causing significant financial hardship. I had a major expense that required immediate access to my funds. Due to the inability to access money that I requested to withdraw nearly a month ago, I have been forced to draw approximately $2750 from a line of credit to meet my obligations on June 19. I am mentally stressed and contacting customer care everyday but they just tells me we escalated, wait for email. I planned well placing withdrawal request on May 22, 2026, considering it may take up to 11 days to process withdrawal.
Furthermore, I continue to be exposed to market risk every day despite clearly communicating my intention to withdraw my funds on May 22. Any decline in market value during this period is entirely outside my control and results directly from the failure to process my withdrawal request in a timely manner.
