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Fidelity and I have no relationship. But they have my business email address. Every single day I get a spam email from them. Every single day I go through the annoying process of unsubscribing. The next day - they send another spam email. This has been going on for over a year. I do not know if their marketing director is from the 80's or what- but spamming me does not make me want to give you my money or investments. It makes me actually loathe your company.
Called to get a withdraw. Over last 2 years refused. Said it had to be a natural disaster. We don't have natural disasters in Fulton NY. I just don't understand if this my money I earn why can't I withdraw? Why get a nasty attitude about withdrawing some of my money? This company sucks. I don't ever seeing getting any of money ever. I think we should be able to withdraw money or close our account.
I scheduled a 410k rollover to my account with Charles Schwab in mid June 2018. I was told I would receive the check by June 29. It never came. No problem, I thought things get lost so through their iChat Fidelity and they said they would reissue a new check and that I would receive it by 7/19. Still no check. When I called the third time they cancelled the check again and said they would send it "Express" mail but that there was a $25 charge. You can imagine my response. The representative could clearly appreciate my frustration and put me on hold. She then confirmed that the $25 fee would be waived.
So all things being well, and fingers crossed I should receive MY money in 2-3 business days. Just to add to my general experience with this Fidelity. The website design, UI and UX is beyond dreadful. The worst I have seen. My local community bank has a better designed more functional interface. The investments they offer are also pathetic. During the recent stock boom, some 25% YTD with a standard Index linked ETF, and they show returns of less than 3%??? And I went with their most aggressive tech heavy funds. I now do my own investing through Schwab who are trustworthy and excellent to work with. I will never invest with or through a Fidelity brokerage firm ever again.
I was online managing a retirement account that I had earned from a part time job. I had trouble navigating the site so I called for help. They wanted me to verify my identity. I gave them my email, social security number, account number, home address and phone number which all matched. However, they told me that wasn't enough to verify who I am and they would have to go to a public source to verify who I am. INCREDIBLE - a public source which has never been vetted, or tied to who I am. Just my name, not forgetting that many people share my name and not all information is correct on the internet.
I also said, "I am Hispanic and have a fairly common name." They then asked me questions about a place I have never lived and when I told them I haven't lived there they said, “Since you can’t answer the question you can’t prove who you are.” They then said, “We are blocking your online account and you’re not getting your money.” You ** are all the same and hung up the phone. I have two doctoral degrees and was born in this country. Their motive is clear, to steal your retirement.
I lost my job because I was late for work trying to get my mentally handicapped brother a liver and kidney transplant. That's fine. I traded my job for my brother's life. Now that Allegion let me go I am supposed to be able to get my 401k to live off of. They took money out of my account and were supposed to deliver my check overnight. It's not here. Nobody really knows where it's at and this company is telling me to take it up with UPS. They try every dirty trick in the book to get you to give up like now I've been on hold for 38 minutes. Disgusting companies both of them.
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While I was working for Northrop Grumman I was very pleased with the company because they had a generous match on their 401K and they had a pension plan. The first few years I watched my 401K carefully and changed it periodically depending on the stock market. It seemed odd that Fidelity never called me or made any recommendations considering the money they made off us and our company. When the market started to plunge I was so busy in my job I didn't monitor it closely. By the time I got a quarterly statement they hadn't informed me my stocks were plummeting and I had lost over $120,000. I was livid and couldn't believe they didn't feel they had done anything wrong. Their handling of pension plans resulted in a class action suit against them, but only made the lawyers rich. I got something like twenty dollars for my losses.
Recently I became disabled and couldn't work any longer. I am 67 and wanted to start my Northrop pension payments. I called Fidelity and spoke to their employee about the amounts I would receive and I agreed to her figures. She sent my wife and I the forms and my wife had to get part of it notarized to be my beneficiary. They sent a form back a few weeks later saying the forms we sent were filled out wrong. At the time my wife was out of town for her mothers funeral for a week. As soon as she returned we called them. At first they claimed they lost our forms and then when they found them they said they were filled out wrong. We inquired how could the forms be wrong, all we did was sign them and have one notarized. She said we should have called and mentioned the mistakes in the amounts. I asked how would I know if there were mistakes, we weren't the ones that filled them out.
So after all these weeks of waiting for my pension, we now have to wait all over again for the forms being sent by snail mail instead of Fax or Electronic form, hand sign them instead of DocuSign and notarize once again (why would we have to notarize again for my wife to be the beneficiary?), wait for them to process again for weeks, and then finally start payments. I will never do business with them again. They have shown me they are unreliable and ready to blame everyone else.
I got ripped off by this scam broker recently. It was such a hassle to get a withdrawal after several failed attempts. I had to hire a recovery solution company to get my funds back. Glad I got a refund and I can finally move on.
E*TRADE & Fidelity STOCK BROKERAGES NIGHTMARES. The sale of Scottrade to TD Ameritrade (TDA) was the beginning of an unbelievable 2 month nightmare. I was a satisfied client of Scottrade managing 3 accounts, a joint account with my wife and 2 accounts for my incapacitated wife with Power of Attorney (POA.) The transfer to TDA was completed in one weekend in every detail. I was not satisfied with TDA’s trading platform (Thinkorswim) and decided to look for another broker.
I tried The E*TRADE platform and with help of an E*TRADE specialist our accounts were set up, linked and running within a about 8 days. On May 7, 2018, I tried to make a trade in one of my wife’s accounts and found they were locked. After complying with their overwhelming POA requirements I was still locked out of my wife’s accounts until July 3, 2018. In all that time after almost daily phone calls I could not get answers for reasons for holding those accounts hostage. My last call to E*TRADE was June 15th and did get a response, which was “transfer my wife’s accounts to another broker”.
On July 3rd I received an overnight letter from E*TRADE stating my POA did not qualify me to open accounts for my wife by their rules. It took two months and a loss of thousands of dollars to learn about this ridiculous requirement. What alternative does an incapacitated person have? They have my wife’s doctor’s statement describing her inability to function.
On June 18th I requested Fidelity Investments to have our joint account transferred to Fidelity’s Active Trader Pro and applied for POA for my wife before transferring her accounts. Fidelity service was almost as bad as Etrade’s service. Their representatives provided a lot of misinformation. I was told forms I needed had to be mailed to me and mailed back to Fidelity. I had to request for forms repeatedly including POA, transfer of assets and option trading request.
This process took so long I finally went online and found all necessary forms could be downloaded. On July 3 and 4 I received every form Fidelity has for any need in regular mail delivery about 2 weeks after I requested those needed for our accounts. Our joint account had about a dozen options which I could sell with difficulty, but I could not buy options. After a couple of days I got an excuse – “I did not fill out employment information”. My wife and I are 90 years old. I told the Fidelity agent the retired box was checked for myself and the “not employed” box for my wife. Surprised, he said my option would be ready in a few hours. Not so. A few days later, excuse number 2 – I did not check the right classification on the option request form.
He would not change the confusing classification choices for me and had to resubmit the form and mail it back to them. Today I tried to sell some options. I had to call Fidelity to sell them and was on hold for 30 minutes before I got an agent who said he had to get an option specialist to take my order. Another 10 minutes and my trades lost about $40 during my wait. It took 45 minutes make the trades which I could have done online in 5 minutes without a $40 loss. As of today, 7/9/18, I am locked out of one of my wife’s accounts and cannot buy options. We are losing portfolio value due to delays caused by unreasonable rules and poor service.
There are thousands of stories similar to mine on the internet. Entering “Etrade Complaints” in your browser you can find hundreds, enter “Fidelity Complaints” you will find over a thousand, or enter any other company you would like to check out. I strongly suggest anyone who needs to manage financial affairs for a loved one avoid Etrade and Fidelity. Maybe others should too. In addition to very bad service their Etrade PRO website is poorly designed and hard to navigate. Until recently their P/E ratios were incorrect for a large percentage of listed stocks using quarterly earnings instead of yearly earnings. Fidelity has this same problem today.
They both have a confusing company earnings list which does not identify the fiscal quarter for the amount shown. This industry needs regulation. Anyone experiencing loss of account values or bad service from any broker should report their complaint it to the Security and Exchange Commission (SEC) and/or other services that can be found on the internet. I do not want my children facing this nightmare when I lose my faculties or if I should pass on before my wife.
Had to call to update beneficiaries after sending required forms which l had been assisted by one of their rep to download. Sent off the forms and followed up twice. Was told it could take 6 weeks after they are received. Later on call to follow up again and told that the forms were invalid. They sent me new ones. When l question why would someone guide me to the wrong forms and why would nobody send me an e-mail on realizing the forms are invalid the response was "NOBODY SITS ON TOP OF YOUR ACCOUNT WATCHING IT FOR YOU". l still have to follow up with them not expecting a lot to be accomplished soon!!!
I am trying to roll over my 401K account into another financial institution. This has been going on for over 6 weeks. They tell me it will be another 5 weeks as they are "backed-up." Apparently, Fidelity neglected to make the IRS mandatory MRD by March 31. So, when I sent in the for the roll-over, they caught their mistake. Now, I am being "punished" by having to wait to get my funds invested into another account and they are having to calculate the earnings/loss on the MRD funds that wrongfully remained in my account. Also, their delay will affect my account balance when finally rolled-over. I suspect there are many others similarly situated since they have been trying to figure this out for about 4 weeks.
I was named financial conservator of my mother's accounts by court order from the State of Georgia. I filed all the appropriate documents in person with Fidelity and was told I would know everything was in order when I could log in and see her accounts. That piece went according to plan. What I didn't know was that Fidelity's legal team (who by the way will not talk with mere mortals... they hide behind phone representatives to be their go-between) placed a restriction on releasing the minimum required distribution (IRS regulations) on her account, such that this distribution did not happen for 2017. All of this without notifying me of any problems that needed attention.
When I realized the distribution did not take place, I had to make about 20 phone calls to finally understand that the issue was that the legal department didn't think the court order that specifically states that I am 100% authorized to act on my mother's behalf as her financial conservator was good enough. I had to spend 4 months of additional time, and expense from my mother's estate to get an additional court order specifically to satisfy Fidelity. Now that I'm finally through that hurdle and anguish, I am taking the new court order to the Fidelity office in person today to get that filed. Once they do the minimum required distribution for 2017 IRS rules, I'll be moving her account to a financial firm that actually instills trust and caring with their customers.
I moved my account from Fidelity Investments to another brokerage company solely because of what I perceived to be frequent dishonesty by Fidelity employees. Without going into a lot of detail about the many instances of perceived dishonesty, I once asked an employee whether he thought he could lie and then just skip over the lie and move to another subject, and he said “yes.”
I was shocked. I had a $5 million account at the time. I repeatedly demanded to speak to a supervisor and he repeatedly said “no.” I think someone would have to be dirt-for-brains stupid to entrust money to anyone who is dishonest. It is unfortunate, because I had been a customer of Fidelity for around 20 years, and I thought that Fidelity otherwise had a lot to offer. But frequent perceived dishonesty by people handling my money is a deal-breaker. And that was the SOLE reason I moved my account.
The representatives are so rude. They will even get smart with you When you let them know you're unsatisfied. I called to ask a basic question that had nothing to do with an account and they collected all my information and asked me security questions and still didn't answer my simple question. After 10 minutes of pointless info and verification I hung up. I will not be enrolling in their Program.
I called Fidelity for a withdrawal. I gave them all the self identifying information necessary. Social Security Number, date of birth, my address. They refused to assist me with the withdrawal. I have run into this problem in the past with these rotten brokerage houses. I will never ever invest a single penny in any stock or bond for as long as live. I plan on telling everybody who will listen do not trust the U.S. financial companies. These guys tell one lie after another and then hide behind their disclaimers. They have ruined more retirements for more people than any single organization.
A one month ago I opened account at Fidelity and then I send my money from my PayPal account to Fidelity account. And then Fidelity block my account, they are block me from login to online investment and checking account!!! Then I call them, they told me go to the office, but I can't do it next 1 year. And they say that my on my account fraud activity. Fidelity is fraud. I write message to cyberpolice and FBI about my problem and they say that they help me very fast and prison all personnel who was fraud me. I hope they give me and other people's money back and get some years at prison. Have a nice day Fidelity!!! Have a nice!!!
Do not open an account with Fidelity unless you want to be your own broker!!! They have stopped personal face to face service! This is fine for young people, but no one considers older people, people who can't hear, see, or speak well. Nothing replaces face to face SERVICE!!! This company has failed miserably at doing THEIR job. Why do I need to go through Fidelity if I have to be my own broker? Something that would have taken ten minutes to do in an office is going on one week.
I had to set up an account to direct stocks sold. Kept asking for my dad's user name which he didn't have because he doesn't use the computer!!! So we have to go INTO his bank to set up a user name. Go back to the computer, and start all over again. This is INSANITY!!! Shame on them. BTW, the rep on the phone told me the reason they got rid of face to face service is because too many of their brokers were making mistakes! So instead of accepting responsibility, they throw a broker's job onto their customers. How do they not see anything wrong with that?
I opened a Fidelity Acct last week, set up my Direct Deposit to being depositing a small amount of my paycheck, set up a link to one of my bank accounts and deposited 2 small checks to start a balance in my acct. I opened a "cash acct" not knowing any different, but could not buy any stocks. I called the Cust Svc number THIS MORNING and they were so kind, explained that I need a Trade acct to buy and walked me through how easy it is, she even shared that my deposited checks will be available tomorrow and I can start buying then. Then suddenly this afternoon I went to log in so I could link my 401K and the acct was closed!!!
I called and the gentlemen would give me no information, none, zero...and asked me now to open any other accounts with Fidelity!?!? He then informed me they will hold my deposited funds for 10 days before mailing me a check for the amount and that will take another 3-5 days. Seriously??? So I now have no acct, I am out money for 2+ weeks and have no explanation. I asked if I would receive something in the mail explaining why and he was very vague with the answer. I am extremely disappointed, I might not be rich but I have every right to open an account and if it's closed I have every right to be told why and NOT have my money held for an additional 10 days.
I legally terminated my trust and directed Fidelity to transfer the funds to my brokerage account IN Fidelity. I provided all requested paperwork, and was told the order was being placed. Days go by with no transfer. I call to check on status and they say it was denied. Very disappointing they never informed me. The money will remain with the trustee whom is longer a "trustee" because there is no trust. Now I must go through courts just to enforce what is already existing law. I have no money which the trustee knows. Because of Fidelity many rescue animals I care for are no longer safe. But I'm not surprised they are siding with the trustee, he has many millions with them and I do not.
Unfortunately, my employer uses these shysters for their 401k. My biggest gripe with Fidelity is how long they take to process anything. Send them a contribution, takes a week to post after they get it. Ask for a distribution, they sell the stock the same day but don't send a check out until the next day. If you want a check express mailed they charge a $25 fee, presumably to make up for the lost float from getting you the money faster. Everything they do takes twice as long as it should, and there is a good reason. Fidelity collects interest while they delay posting your contributions or sending you disbursements. If you have Fidelity and expect anything be prepared to wait. It's deplorable that in 2018 any electronic transaction should take more than 24 hours, in fact, it should be instantaneous. Even their direct deposit option takes 3-5 business days, LOL. Ridiculous! P.S. Their funds are awful and I've never made more than 4 percent interest.
While working for an employer, I contributed to a 401k which was managed by Fidelity. When I changed jobs last August, my 401k stayed for a couple months and was then rolled into a rollover IRA. I have been trying to reinvest it ever since and Fidelity has frozen the account until I send them copies of a utility bill verifying my address. Mind you, my address has not changed, I sent a copy of my Dr Lic and they said not enough. I have now missed out on several months of profit as a result. My address is a PMB because I travel. They send my mail wherever I am. Fidelity considers that a commercial address and won’t release my funds. MY ADDRESS HAS NOT CHANGED since opening the original account and they have no right to lock my money.
Fidelity accused me of fraud, and asked me for my height, weight, hair color, eye color and said I'm not who I say I am, and therefore they froze $7,355 in my account. I'm pursuing legal and criminal action against them to the full extent of the law!
Trading Options with Fidelity has been quite a disappointment. Their platform is very unwieldy, their system was constantly putting incorrect restrictions on my account. (Can't close a position for $35.00 when I have $1700 free to trade in my account, have to call their active trader desk to place even the smallest trade because account was always screwed up.)
Also, the active trader desk is a joke, phone is often answered by young brokers who must have gotten licensed yesterday, don't hardly know what an option is, So then they say - "Can I put you on hold for a moment," which is actually 10 minutes while you watch profit in your trades slip away and turn to losses. Finally decided to switch to Think or Swim at Ameritrade but Fidelity can't even do that right. Still trying to get my money out of there. If you are going to be an active options trader, I suggest you seriously rethink Fidelity... I almost never write a review positive or negative, but this is really... annoying is the nice word, I think.
My account has been locked down due to a reference call requesting transfer of my money! As conversation started when I asked employee terms on moving funds he answered first line that a check would be made out in my name! Well red light came on as I knew movements should never never be moved In the owner's name as I was told. I asked to speak to a supervisor. I then questioned his training and if that happened it would cost me big time one thing left to another and I was told that I would need a POA assigned to my account to process any withdrawals!
I was totally blown away with that request! And since Fidelity has blocked my account from any transaction I feel that asking about transfers was not the request they wanted to hear! I have read hundreds of reviews on Fidelity doing the same thing to others. Such a shame a big company like this has stupid so low. Shame on you for these tactics!
I have an account at Wells Fargo bank. Because of Fidelity I am $500 overdrawn. Skip lunch. Spent last $25 cash to buy gas and get home. Right now they are committing fraud and have Rob me by keeping monies away from me. They also blocked all my accounts and wife's accounts. After 2 days they finally allowed us to access accounts online. Can't use debit cards. Cannot move money. Can't trade stock. Son has account. He need hotel funds and food money. We cannot help him and my wife's name is on his account. We have $400k in Fidelity. I will be moving as soon as they give me permission.
Upadted on 04/19/2018: Follow up to Fidelity Review. Today I called to see if my accounts were still frozen. Told just freed up. Then told on May 18 I need to leave Fidelity. My wife may stay. I was told they could and would Not tell me why I was ask to leave. I have followed all printed and known rules. I have used my money the way I want. I got mad when Fidelity would not allow access to my money. They also stop trades on their terms and trades I ask for at the beginning were blocked. Then I find out why later. They didn't like a third party bank wire. Charging me $10 for me to do online versus calling in and have them do it for $35 Or something. Calling it fraud. Their Security team goes underground and you can't talk to anyone.
My husband received stock from his company. He received 493 shares and we have the paperwork so does Fidelity. They entered it as 439 shares. That’s over 2K we almost lost because of them. Learn how to input your information correctly. Total unacceptable. Worst company ever.
Fidelity Investments Inc is a tricky investments company in the sense of operations; not in the sense of what Fidelity does but some take it as a misguiding and misleading act. However, the real truth is that many people have been unable to comprehend the way Fidelity Investments Inc works. It is more about their own policies and procedures and what an irony that Fidelity is working against itself since their hidden procedures are not truly revealed.
However, even though it was announced publicly that Fidelity Investments is at fault for the financial loss that some of its customers suffered (drama added by the news sources to throw more wood into the fire) and even though I am one of those customers. Still, I am unable to compare Fidelity Investments Inc with the fraudulent and corrupted companies the way I have done before with certain organizations whose performances are unacceptable and questionable and I cannot do it because Fidelity Investments Inc has honored its word where I am concerned.
If I lost money; that was because the specific investment I was in; it was an underperforming investment and not because Fidelity Investments caused it itself. I have analyzed the types of investments that Fidelity Investments has and also I have been attended by the customer service associates in different occasions and I found nothing wrong. Therefore, I can only say that although Fidelity Investments is an entity difficult to fully comprehend for some. And in spite of everything; it is a great investments company with great options.
Do not download this app! I downloaded, and I put 500 dollars in it. The app checked my bank account, accepted it, and I went on my weekly business. A week later I checked again, and my account was closed because they said bank account had a problem. They "sold" (they owned the stocks the entire time) the stocks in less than a week and miraculously I own 73 DOLLARS, in less than a week! They never contacted me first to see if we could solve the problem, but those Facebook stocks never went down 70 dollars in a week, and I only bought one.
Their sale price was the problem because was much lower than the market. Lost 73 dollars in 4 days, so you might as well invest in CRYPTOCURRENCY. If you do invest, do not forget to check your account multiple times. I want to understand how my bank account had problems if they verified everything when I sign in; they said my bank account was verified. And then, when you ask to talk to a supervisor and JONATHAN answers very rudely, they won't admit their fault and the supervisor will only repeatedly tell you "your business is not welcome at Fidelity anymore." I feel sorry for seniors investing in this scheme. 73 dollars because one clicked. Wow...
Have spent a month trying to resolve a Fidelity created problem of a deposit of mine into a wrong fund account. Each time I explain the problem clearly and am assured the issue has been resolved. Then each week a new round of checks are returned for ins funds. It's like the tail wagging the dog. I get on the phone the next time and am assured the problem is resolved. Next, same thing occurs. Personally I think underqualified white collar college neophytes are good at talking but deliver jack.
Companies like this have had a free ride for years with the gov. backstopping insane stock values. Wait till a free market places values in a real valued price, say a drop of 50%, you'll be doing everything wrong because you're locked into bad investments that these schusters talked you into. It's amazing the lack of common sense people have walking into these dens of thievery. Anyway, just beware. As a trader for 40 years have never seen a fiasco that we are in process of having. Avoid these scammers at all cost.
My employer signed me up for a Fidelity retirement plan, apparently it was an implied consent if no objection received even though I was totally unaware. Months later I was looking at my paycheck trying to figure out what the codes were and found out I had been enrolled unbeknownst to me. Called Fidelity a year ago when I found out and they basically said if I didn’t have hardship I couldn’t have my money, a little more talking and I got a manager that said I could withdrawal my money if I accepted a penalty and I said it was fine then he told me I had to send the request in writing which I never did.
Now I could really use my money and Fidelity refuses to release it unless I send them medical expenses (probably have to meet their qualifications), an eviction notice, proof of home purchase (can’t be complete or before paperwork starts, they want it from the bank), education expenses (only future expenses not past WTF...how’s that fair), funeral expenses, eviction notice, or a natural disaster (but only if Fema writes me a paper). To sum it up, they took my money without any consent and are holding it against my will unless I’m hurt, fired, lose a loved one, get thrown out of my house, or a tornado blows my house away!!! How in the name of God is this legal???
Fidelity always gives me good advice and alerts me when needed. I have difficulty picking which investments are most beneficial or which are risky. Fidelity has put together a plan for me that has been most successful. I would not have the retirement I'm enjoying without them.
Fidelity expert review by ConsumerAffairs
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.
Best for: Fidelity Investment has tools that make it a good choice for all types of investors; its online trading features are best for self-directed investors.
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