Fidelity InvestmentsConsumerAffairs Unaccredited Brand
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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.
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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.
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.
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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