Fidelity InvestmentsConsumerAffairs Unaccredited Brand
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.
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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.
In December 2017 my employer decided to open up a company sponsored Simple IRA with Fidelity. Great! I finally have an opportunity to set aside for retirement. On February 27, 2018 I received my first letter from Fidelity stating that they were unable to honor my investment instructions at this because their records indicate my account is restricted. On March 8, 2018, I received another letter stating the same thing. I decided to call and find out what the issue was.
I was told "Unfortunately, we are not able to do business with you any longer. I do not have the details as to what the reasons are. Please find another firm to open an account with and we will follow your transfer instructions. We will not be disclosing the reasons. My apologies." What the heck is going on? Why would this be? So now they will still accept my contributions, but will not invest them on my behalf. They will stay in a money market fund where they assure me that my money is safe and liquid.
Fidelity provides an intuitive, easy website that provides one-stop shopping for all types of brokerage transactions, plus more... allowing you to manage all of your financials. Includes ability to look back in time, pull your own data and review current research.
I got involved with Fidelity Investments by way of work related 401k. There was some miscommunication due to poor customer service or training but that is to be expected with all corporations I believe. Overall I am pleased with them & continue to use them despite me longer employed with company that provided 401k plan.
Tried to do a withdraw or loan (401k account). Refused me time and again said I only could either if it was a natural disaster. Tried to explain my hours were cut. Needed money for medical bills and car repairs to get to work. Pretty much said they didn't care that I cant get access to my money but this my money I should be able to withdraw if I want. Couldn't get help with this through management at work either.
Fidelity just cancelled my account I have had with them for over 30 years because I complained about being unhappy with their performance and rock bottom arrogant and lousy service. Fidelity used to be great company for over 30 years until just recently 2016. Now it is so horrible, I hate dealing with them so much. Shocking to hear how many others have Fidelity account cancelled because of retaliation and vindictiveness to legitimate complaints - all the same as mine !!! When you talk to them, they just don't care, and refuse to let you speak to an executive or high manager and are arrogant and in denial, even lying to the max. They lie telling me that nobody else is having these problems. It makes me sick to my stomach to hear these lies, and arrogance.
I am taking my business elsewhere ASAP and filing a retaliation complaint with Attorney Generals office. Many o bog state they are also being retaliated against for complaining about bad service. Fidelity behavior is like third world dictatorship and how these thugs behave to openness and criticism. We need to go to government agencies and file complaints, have investigations, and even class action lawsuits about this recent behavior. It is obvious their new thuggish system initiated by management vs a few bad apples. Their system has no accountability, and no recourse let alone treating customers nice and with respect. Time for customers to let Fidelity and the business community, and media how bad Fidelity has just recently become.
Fidelity is always easy to call, and get answers to questions. I have a special person to call in order to ask questions. I get updates on bond issues, and they have transaction fees.
They seem to have some good investments - they are aligned with my employer so I just continued with them. They were helpful when I visited them but could never get my questions answered about why/how to get some ongoing money in retirement. Looked into another broker & found better opinion & discovered the fees I was paying were more then I should - so I am leaving.
I have almost a million dollars with Fidelity and they treat me terrible. I sense if you have less you will get treated worst. Continually put on hold for close to 15 minutes every time I call. I ask a basic and simple question, i.e.; how much cash do I have in my account. I get put on hold for 15 minutes to get an answer. With a million dollars I am part of the premium account service. I wonder how the regular accounts get treated. It is a truly frustrating experience to deal with Fidelity and is just not worth the effort.
Reps are available 24/7 and ALL SPEAK ENGLISH FLUENTLY. Many funds to choose from with accurate readily available research info to help make a decision.
On February 1st 2018 I called my Portfolio Advisory Service (PAS) representative with a request to transfer my Fidelity portfolio account service funds account from to my Fidelity cash account. On a recorded line the PAS representative said that since my call was after trading hours that my request could not be processed until the end of the next trading day on Friday February 2nd 2018. The transfer was not completed as stated at the end of trading on Friday February 2nd 2018. It was instead completed at the end of trading on Monday February 5th 2018.
On Monday the markets dropped record amounts causing me to lose a great deal of money from my accounts. The follow-up conversations with my Fidelity PAS representative were dismissive and rude. It is not stated anywhere but it should be known that it may take several days for PAS at Fidelity to perform transactions. If you question their service you should expect to be treated with disrespect. PAS is a service at Fidelity that you will pay a fee of 1%. From my experience beware of this service!
The full name of broker is Fidelity Investments and their fees are reasonable. Fidelity website is easy to use and it offers wide selection of stocks, mutual funds, EFT's.
It’s really easy to get a hold of a real person to answer all my questions. If I have any doubt I would call this company and know that I will be treated with respect and quickly.
My account has been on "Lock Down" for months, I cannot add any money to my account and whether I go into the local branch or call the 800 number I get a different answer from everyone. I would never use or recommend this bank.
The company is doing great. Their customer care is super. There is no problem having them as my broker. They have influenced my decision positively and I want to remain one of their best customer. Kudos to them all.
I have been a customer of Fidelity Investments for 20 years and if has always been a very pleasurable experience, until last week. I tried to make a "qualified charitable deduction" from my account and they refused my request and locked down my account. They said that they we doing this to "protect" my investment. I understand Fidelity's desire to protect my investment from bogus withdrawals but this was clearly not the case with me. They further refused to discuss this matter and not only was I unable to send money to my church, I am blocked from making any withdrawal, of any kind, because they felt that I was "unable to manage my account". They wanted me to go through a "power of attorney" person who was more able to manage my account. They said that they were required by the government and had no choice. I can't believe that a large company, like Fidelity, would participate in this asinine practice.
I have an account at Fidelity. I am power of attorney on another. The account I have power of attorney on was trying to transfer an outside account to Fidelity. It took almost four weeks to do so during which they continued to provide misinformation about the delays, most of which was completely untrue. During this period the US markets had its best month in 31 years.
Instead of compensation, when I complained I received a letter stating that Fidelity did not have the capabilities to handle my account and I had one month before they closed it. Furthermore, they would not permit me to have the power of attorney my acquaintance signed for me to have. Nothing was done about the financial harm caused. Fidelity has a customer service department that is not well trained and provides information that if not downright deliberately false is at least negligent. Unless consumers file formal complaints with FINRA (Financial Industry Regulatory Authority) their harmful practices will continue.
Fidelity Investments has a very long history of helping people reach their financial goals. They're very customer friendly, knowledgeable, and care about the final outcome.
Fidelity manages my pensions. I have found them to be very responsive to my needs and helpful but I do wish their customer service hours were longer so that West Coast customers could get help later in our day.
Our Fidelity advisor convinced me to move my IRA into one of Fidelity's Portfolio Advisory Services (PAS) "Managed Accounts". The account was a "defensive strategy" with a 60/40 equity/fixed income portfolio that included US Long Term Treasuries, which she described as the "the safest investment" in turbulent times and the data supported her. However, Long Term Treasuries also can decline during a period of rising interest rates as they have since I invested in October 2017.
Unfortunately the major problem with the PAS Managed Account that follows this "defensive strategy" is how difficult it is to get out of it, which my account advisor never explained only saying that you can get out "anytime"... as Fidelity also indicates in the website. What she did not explain and what took me talking to 5 different Fidelity representatives is that if you decide to sell any or all of the "PAS Managed Account Defensive Strategy" that it can take anywhere from 5 to 10 business days for the trade or sale to go through... meaning the market can decline and if Fidelity's "best effort" to cancel the sale isn't successful then your funds are sold when the market declined. This is totally unlike investing in mutual funds where you put in a trade before 4:00pm and it sells. Fidelity has a lot of great investment products, you simply need to do your homework before buying them and stay away from the "Managed Accounts" and their fees.
My Dad has been getting screwed out of his money from this company for 6 months now!! He was just diagnosed with Stage 4 Lung and bone cancer and we've fought them tooth and nail. Treatment is extremely expensive and of course, my parents are on a fixed income. He is disabled (as well as my Mother) but when he reached a certain age, his pay turned into retirement. This was severely delayed and they have continued to say, "Oh yes this has been taken care of..." yet NOTHING is ever done! Finally my husband and I got up the money to help them afford an attorney to draw up a POA, and then get it notarized for this idiot people to talk to her because obviously he always can't.
He's been in and out of ICU for crying out loud. Now that we've gotten that done for them to be able to talk to my Mother about his account, it cannot be faxed but HAS to be MAILED. And that will take 30 days to be approved. Are you serious?! We do not know if we have 30 more days with him! Then we say we are going to get an attorney over this CRAP. They just get snottier and say, "Ok that's fine, we don't care, go right ahead." They have NOTHING about anyone! I wish I could give negative ZERO stars. Avoid this company at ALL costs!
Long time Fidelity members and now being advised - Fidelity cannot provide the services I require - that is, find another brokerage firm. No reason given. Must be active trading. Can you believe an Investment company would state in a letter - cannot handle your trading. In wrong business.
Pathetic in every respect and they could care less! Agents are friendly and helpful, but you cannot reach them in less than 30 minutes. Platform crashes and leaves you at the mercy of the market, unable to access your accounts or anyone by phone! Talk about heart attack?? If these people are rated number one, it explains why the options trading platforms in the USA sucks so badly in the past 3 years. ABSOLUTELY TERRIBLE! You cannot reach ANYONE at Fidelity by any means of contact in less than 20 minutes, even at 9pm. Always at least 25 people in queue on chat, usually over 50 during trading. You would be better writing a letter! It would reach them sooner, but no one would be able to read it!
They lie to get accounts! "Can I trade options the same day?", "Yes you can trade the same day"! But, they didn't tell me options takes 3 days. They are severely understaffed and their platform crashes at the busiest times, making it impossible to buy or sell ANYTHING! Worst excuse for trading platform I've seen in 15 years! I wish Schwab had not destroyed OptionsXpress. They were the last reasonable people to deal with and had the best trade platform. They also cared about providing customer service live help in less than 10 minutes and staffed properly. RIP OptionsXpress!
Worst website reliability. Third time in 6 months that their website has crashed, which leaves customers at the mercy of the markets. And when their system crashes, it is down for a long time...many hours. And when you call, you wait for hours!! DO NOT trust their website or customer service. You will regret it!!
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.
Fidelity Investments Company Information
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