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Fidelity Investments

Fidelity Investments
Overall Satisfaction Rating 1.23/5
  • 5 stars
    1
  • 4 stars
    1
  • 3 stars
    0
  • 2 stars
    7
  • 1 stars
    51
Based on 60 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

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    Fidelity Investments Reviews

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    Page 1 Reviews 0 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 19, 2020

    I was forced to switch to Fidelity from Empowerment when I changed jobs. I took out a loan on my 401k. Shortly after, Corona virus hit. My hours with the airlines were drastically cut. I received an email from Fidelity offering to “help ease the financial stress caused by a Corona Virus.” As I read it, I thought it was a cruel joke! It advised me that if I accepted “delayed payments” I would pay a penalty for each of my “MISSED” (their language) payments. I was further advised that at the end of the delayed payment period I would be required to pay DOUBLE the amount of my 401k payments monthly until the total balance of the “missed” payments was satisfied.

    When I could no longer stay with the airlines due to Corona, Fidelity wastes no time (literally, I think it was less than a week) in sending me letters demanding that I advise them IMMEDIATELY on how I was going to make my monthly payments. Compassionate! I am not a dead beat. I had just lost my job due to a global Pandemic and had to scramble to find new employment just to keep going. Now my payments are being taken directly from my bank account. Somehow, my payments are now $40 higher a month with no explanation as to why. When my employment becomes stable again, I will ABSOLUTELY be pulling my account from Fidelity. It’s as if they are pretending that they have never heard of this global pandemic. They would rather treat people like untrustworthy dead beats trying to default than offer real compassion and relief to those struggling with the current climate. They are absolutely HEARTLESS!

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    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Oct. 12, 2020

    I transferred all my investments from Betterment to Fidelity. Betterment provided a PDF with all the cost basis information for fidelity, which is extremely important for calculating taxes. However, Fidelity refuses to use the information provided by Betterment, and wants me to fill out a form calculating all the cost basis information on my end. There are over 500 lines that I need to enter and for each one multiply shares times price. This is definitely something that Fidelity should do and not theirs customers to do, it takes several hours to fill out this form. When speaking to a manager her excuse was that Fidelity cannot "interpret" financial information from other firms. Really?? You cannot multiply shares * price and force your customers to fill out 500 lines? This is complete nonsense.

    3 people found this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 2, 2020

      Yesterday I transferred money to Fidelity Investment. They told me that they won't margin for my buying until tomorrow. Today they told me they will have to hold my money until Monday. It's not a trust investment company to invest with. What you have read about Fidelity Investment customer reviews 100% Truth. STOP! Don't invest with Fidelity.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 26, 2020

      I have a business proposal for a company in Africa, I tried to transfer money to that company from Fidelity, then fidelity headquarter manager wants me out of Fidelity. Very rude, and unprofessional. I call everyone leave Fidelity.

      12 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 25, 2020

      I have been sitting on hold for over 40 minutes now. Last night I was on hold two times for at least 30 minutes trying to talk to someone. They don't respect your time. Use Vanguard instead, as they answer the phone right away and are both polite and efficient. Infuriating experience with Fidelity.

      17 people found this review helpful
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 17, 2020

      I am not sure why so many people have 1 star reviews. I think they are great. I have been using Fidelity for so many years that I used to have to pay to use them. Now they are free. Their client services is great too. ** Thank you Fidelity.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 11, 2020

      Applied for an account withdrawal, paid the additional fee for overnight. It was supposedly shipped priority express two day mail. Was given an invalid tracking # and now my check cannot be located and they asked me to contact post office, post office states to contact shipper. Now they have no idea what happened to the check. They refused do an electronic funds transfer to my account even though they have my correct bank information and have verified it. Will only stop and re-issue another check, so the issue will more than likely happen again. Check is now over a week late. Post office states that they cannot locate package and it was more than likely not mailed at all. Called before lunch to speak to a supervisor, was told they would have to call me back and that call would be within the hour... They never called me back.

      18 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 10, 2020

      Their website and mobile platforms are far outdated compared to other brokers. My biggest issue however is how long anything takes. Request a wire transfer, most brokers will have that done within an hour or two, some take a few minutes. Fidelity will take all day sometimes into the next to transfer your funds out. Any request for "account features" says average wait time is one business day, been a week since my request for options and I still haven't received any response despite having chat in multiple times and being told they would have it done "later that day". Maybe they do have some positive points but with all the other brokers out there that have the same and better offerings I greatly regret my decision to open an account with Fidelity.

      19 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 8, 2020

      Over the past few years I have placed trades and stop losses in my account. Routinely, these trades have been exercised below the time of the trade. Today, I had a stop loss on a stock and had the exact stock stop loss in my Interactive Brokers account. The stock had a sudden price change lower and my Interactive Brokers account exercised the stop at the exact price of my stop. My Fidelity account exercised the stop almost 3 points lower. Improper fills have occurred over the past few years, but I was unable to prove it. But now, I have documented evidence. Clearly, Fidelity is either dishonest or incompetent. I've had it!!! I'm transferring my entire Fidelity account to Interactive Brokers.

      16 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: July 10, 2020

      I hope no one gets the need to deal with Fidelity Customer Service. Very long wait times and bad customer service. Stay away from Fidelity, please! I have been dealing with Fidelity for the last 3 months or so and it's pain to get someone on the phone to help. There's no help and you are stuck!

      26 people found this review helpful
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      Fidelity author review by Clark Kendall

      Fidelity Investments is a privately-held full-service financial firm that offers an extensive range of investment options, including online trading, retirement accounts, IRAs, mutual funds, life insurance and more. The company has been in business since 1946 and now serves more than 25 million individual investors. It is headquartered in Boston with locations across the United States.

      • Branch locations: Fidelity has nearly 200 branch location across the United States. Investors who want the option to trade online as well as get in-person help from a professional will appreciate this option.

      • International trading: Fidelity clients can trade on the stock exchanges in 20 countries, including Hong Kong, Japan, Australia and the United Kingdom. Investors can choose to purchase or cash out stocks in U.S. dollars or the foreign country’s currency.

      • Research trial: Account holders at Fidelity have free access to several research tools. They can learn about stocks, EFTs and other investments as well as set up watch alerts. Interested customers can sign up for a free 30-day trial to see whether they find the tools convenient and easy to use.

      • Managed accounts: Investors who prefer a hands-off approach can set up a managed account with Fidelity. The company offers five different managed account types with a $5,000 minimum investment.

      • Protection Guarantee: Consumers can feel secure with a Fidelity account. The company’s Protection Guarantee ensures that clients are covered if an unauthorized individual makes changes to their account. For full terms and details, visit the Fidelity website.

      by Clark Kendall Personal Finance Expert

      Clark Kendall has over 30 years of domestic and international investment and wealth management experience, focused on serving Middle-Class Millionaires. He is a Chartered Financial Analyst (CFA), Accredited Estate Planner (AEP) and Certified Financial Planner (CFP). He is the president and CEO of Kendall Capital in Washington, D.C., and a member of the Washington Society of Chartered Financial Analysts.

      Fidelity Investments Company Information

      Company Name:
      Fidelity
      Website:
      www.fidelity.com