Consumer Complaints and Reviews
Fidelity was chosen by Nationwide Insurance to manage pensions and 401K. This company should be rated 0 stars. The support is horrible. The information they give you changes with each person you talk with. It has been 3 months since I applied for my pension. I have yet to receive a payment. Today I began to transfer my 401k to Ameriprise. Worst company imaginable.
I have spent over 70 hours over the last 2 years trying to get an online account set up and maintained with Fidelity. Large amount of money in account and their system keeps kicking out online access - very frustrating. As I write I am on the phone attempting to get online access again - agent trying to get online access is rude and overtalks me. This is an issue that hasn't been resolved and FIDELITY management DOESN'T CARE.
I'm a senior and was with Fidelity for almost 3 years. Never a problem until I made requests to remove some funds. Fidelity put a restriction on my account and said their risk people were looking into my account. After over three weeks and numerous calls to their worthless service reps. and submitting all paperwork requested because my son has my POA and deals with the accounts. After three years they had questions? Worst of all is they have cost my account about 50k during all this. Can't trade, can't get tax statements, couldn't even transfer it out. Holding my account hostage because I wanted to gift my children while I am still alive by withdrawing less than 35% of the accounts funds. It is my money! Now that I am starting a suit against them, they have close my account and is supposed to be transferable. Do yourself a big favor and go to TD or Schwab. Would not recommend. This is a horrible investment company.
Ford Motor Company and the UAW bargain Fidelity to take out 401k. I do not know who is paid off. I do not know Kickback or favor but it has happened. I know it is what they do especially the UAW during the course of my 401k invested heavily in Ford common stock with Fidelity within my boundaries a 401k. During the course of this Fidelity stole my common stock and replaced it with units. I confront the UAW and Ford about this and they laughed at me. It's what makes the difference because it tracks the same. It is a fifth. The government did nothing. The union did nothing and Ford did nothing. Stay away. Stay away from Fidelity. You will get robbed and you will get no assistance.
I've been unfortunate enough to have inherited Fidelity accounts from my (deceased) parents' retirement accounts, all of which were with Fidelity. It has been an excruciating struggle to work with Fidelity -- my experience has been that they give poor, misguided direction, and then come back to contradict it, later. I have page after page of notes on what they have told me to do, only to have them come back later to say, "OH NO -- you should NOT have done that" (even though it's what they told me to do). Do yourself a favor, get a "Magic 8-Ball" to give you advice -- you'll be MUCH better off, in the long (and short) run!
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Fidelity is the worst bank/investment firm ever. I was a Fidelity Investments customer for over 8 years no issue, until 2015 they decided to hold on to my taxes and the rest of my entire funds that was already in my account from my payroll. This company has the worst customer service agents, not helpful at all when it comes to disputes or resolving issues but they are so nice and helpful when telling you what to invest in. I went to their center in Dunwoody GA and they threatened to call the police on me all because I wanted access to my money which by the way it's mine all mine and I worked too damn hard to get it. To make a long story short, I closed my account and took my money elsewhere and never in this lifetime or ever would I recommend FIDELITY INVESTMENTS.
I have had a continuous problem of funds within my cash management account arbitrarily being held, resulting yesterday in an inability to pull out funds that were mine for reasons they could not explain. I wasted 75 minutes yesterday and no one could explain what the problem was that had funds being held. When I asked for a supervisor I was hung up on. Now today I called again because they were continuing to hold the previous funds as well as a portion of the deposit I just made -- with no method to the madness of how much would be held and why. The person I spoke with today was absolutely crazy making, telling me "no one can help you" when I continued to explain the math to him over and over again. He was getting stuck in the fact that when all funds were released I would have the correct amount of funds -- but that was never the issue.
The issue, as I'd explained 100 times was that I needed to understand how to predict when funds would be held and how much at a time. After another 75 minutes of crazy making with him refusing to see how this was a problem or answer my question, when I (very calmly and nicely) asked for a supervisor, he hung up on me yet again. I am at a loss as to how to handle the situation... except to close my account.
I have a lady from this phone number that has been contacting me through text and Instagram. She put almost 3grand into my empty bank account and said there's no charge whatsoever. But now she's trying to have me send money through western union. She said she works for Fidelity Investments and said they give 3000$ out on a daily. But now she's telling me if I don't pay the fee I can get charged with theft and all this other stuff. But she put the money onto my online bank account.
I have been trying to close an account with Fidelity for three months. They are only stalling all my efforts. I have retained legal counsel and am reserving scheduled time for court proceedings. I have given them my Durable Power of Attorney that gives me legal rights to my account. I have also given them a Trust Resignation letter that clearly places me in legal control of my account. I have filed four letters of complaint with Fidelity: two in Portland Or., one in Covington KY and one in New Jersey. I have also filed letters of complaint with the Securities and Exchange Commission, The Better Business Bureau, Financial Industry Regulatory Authority (FINRA) and The New York Stock Exchange. I also had to give them medical history (twice) even though they have no right to review this information.
I have spoken to at least a dozen supervisors and another two dozen representatives all without results. Their standard response if they don't have a good answer: "We have a fiduciary responsibility to our clients." Nowhere on their website does it give the procedure for closing an account or for closing an account on behalf of a third party armed with a Durable Power of Attorney, or that allows them to demand my medical records and review my physical, mental and emotional conditions and invade my privacy. I am their client. Where's their responsibility? If you invest in Fidelity, consider it a gift, because you won't see your money ever again.
I have had my Fidelity account for a very long time. In a couple of transactions (only 2) I made I didn't transfer money in time from checkings to savings to cover the transfer (my bad) but 1st time it got covered immediately and the 2nd time again same day covered for it. I looked up at my account to find out that there is now no bank account associated with my Fidelity. Did a chat talk as well and called. They told me it was up to their risk management discretion on whose account they delete due to numerous of insufficient funds. I said but 1 last year and 1 this year isn't numerous. Has anyone ever had this to them, where they have to go through the process all over again to get their bank linked up with their fidelity account! Or is it just me? CURIOUS??
I started the process of distributing my IRA on 12/13/16. Today is 2/2/17 and I still have NO CHECK. Like the complainant from MN - it doesn't take almost TWO months to get my distribution. When I have made one of my 13 calls to Fidelity all I get is the runaround. So all you other people not receiving money - we might have a class action lawsuit to be able to collect the interest on what would have been our money the whole time they are giving us the runaround. They said they have overnighted it today... We will see... I had a stroke in early 2016 and I need this money to survive right now as I am only working part-time. The hardship that they have put me they regarding this is awful.
My stocks of S&P 500 up nearly 10 percent for year. Just checked my monthly money starting in Feb. I get a 9 dollar a month raise. This has happened before. Also got the sec to check things out. Everything went fine for about 5 years. Now bad again. I was expecting a raise of 120 or 130 a month. So Monday will be calling sec again. If not satisfied this time I go to court. IF S&P 500 HAD WENT DOWN 10 PERCENT THEY WOULD HAVE FOR DAMN SURE TAKEN AT LEAST 200,00 A MONTH FROM ME. Sure hope consumer can help me. I'm retired. Not much money too very much. Will call Fidelity Monday morning. See what happens. God help me.
Transferring a 401K and or investing in Fidelity with your retirement is a very big deal for anyone. In my short time working with Fidelity I find their service area to be lacking in answers to simple questions. Poor follow through. Do not return phone calls as promised. When they do it's because I have to follow up with them. They do not have a can do attitude which reflects poorly on their image in my opinion. I am not happy with their service nor do I think they deserve my business.
Do NOT EVER do business with anyone at Gulf Coast Financial in Ft. Myers, FL! In Nov 2014, my father came to FL for the purpose of investing money (over $100,000) in a financial vehicle which would pay him a monthly amount without touching the principal. After seeing an ad in our local paper EVERY weekend and researching (online consumer complaints - found none) the company my father and I met with a Ms. **. We explained what my father wanted to accomplish and she recommended the "Prosperity Elite 10" annuity.
She stated that this annuity came with the following "FEATURES" as follows: An immediate "bonus" of $8400.00 (and per Ms ** we got in just "under the wire")! She stated that this annuity would pay at least 7% interest FOR THE LIFE OF THE ANNUITY and that it could, based on the S&P, possibly go as high as 3% more. She stated that another "FEATURE" was that if my father passed away prior to the 10 yrs, I, as his only living relative, would receive the FULL AMOUNT OF PRINCIPAL without penalty. Another "FEATURE" was that "Surrender charges and market value adjustment charges are waived for home health care needs, diagnosis of a terminal illness or nursing home confinement... And would provide full access to your account value without penalty.
One of MANY complaints I have with Ms. **: She outright LIED regarding the above listed "FEATURES"!!! These features, I have come to find out, are IN REALITY -- RIDERS TO THE ANNUITY WHICH ARE VOLUNTARY -- AND ARE NOT MANDATORY. If one chooses to include these riders they will cost you a boatload of fees (within the last 2 years F&G has made over $3,000.00 in FEES)!!!
Ms. ** also had my father sign a blank "Request for Disbursement" Form after the year 1 anniversary stating that she did not know how much the interest rate would be for year 2 and that she wouldn't have this information until after January 2016! Shortly thereafter, Ms. ** stated a monthly amount my father could draw out WITHOUT TOUCHING THE PRINCIPAL! Unbeknownst to my father she, WITHOUT AUTHORIZATION, filled in an "END DATE" for receiving his monthly checks of 11/08/16!! So after receiving only 10 months of checks, they stopped paying him after the November 2016 monthly payment!! Of course, my father attempted to contact Ms. ** (who is never in the office) to no avail.
He then contacted F&G directly to find out what was going on with his monthly checks. They told him what is stated above (that HE filled out the END DATE) to which he explained to the person he spoke with that he had NEVER filled that form out and that he signed it at Ms. **'s urging and HE HAD NO IDEA WHY SHE WOULD PUT IN AN END DATE. After getting the runaround for almost 2 months now, filling out ANOTHER Request for Disbursement/Systematic Withdrawal Form, and waiting for his checks to begin being sent again he received another letter from F&G stating that "We regret that we cannot process your request at this time. Per your recent statement $0.00 of interest was credited to your policy"!!!!! (Emphasis Added).
They also sent him another letter stating that "Please be advised that a systematic withdrawal will reduce the surrender value of your existing contract and will reduce the amount paid upon the death of an owner and/or annuitant. A systematic withdrawal may also affect the guaranteed and non-guaranteed elements of your existing contract. We urge you to weigh all your options carefully and to make an informed decision!!!" (Emphasis Added)
My father and I thought that we were making an informed decision in November 2014 after spending over an hour and a half with Ms. **. During that meeting, we both made it abundantly clear to her exactly what my father's financial goal was. So instead of performing her job, she instead sold my father a financial product that she knew would not meet the goals he was seeking but instead steered him into purchasing an annuity that did the complete opposite. She outright lied about the "Features" when, in fact, they were "Optional riders" to which my father should have been informed that he had a choice to add them to the contract for a hefty fee or not! He was never given that option.
Finally, F&G's annual statement is a whole different story! Even with a bachelor's degree in business management, the statement is written in a way that not even someone with a Ph.D. Could understand it. The statements do not include detailed information (you must request that separately). Long story short, save yourself a lot of money, stress and heartache and don't do business with these people b/c they don't give a flying flip about their "Clients". They only care about the commissions they will make off of these ** products. (Oh, and yes Ms. ** stated that she did not get paid a commission off of any products she sells attempting to make us believe that she had "No skin in the game" which, of course, was another lie!!)
The above-stated reasons are exactly why I will not stop fighting for my Father's rights and I will personally see to it that this NEVER happens to him or anyone else if I can help it. My Father worked hard all his life and to see some MONEY GRUBBING, LYING AND CHEATING SCAMMERS screw him has me so angry I can't even see straight. I know that karma does exist and these people will get what they have coming to them for what they have done.
Been trying for over 4 months to get Fidelity investments to start sending my pension payment, Ive sent paperwork to them twice now with everything they have asked for, yet every time I call I get the same runaround, "we need something else", "we cant find your paperwork", etc etc. I suspect they are trying to pull some sort of bs and steal my pension. I have called these people at least once or twice a month yet nothing. No pension, this is my money. I worked 32 years for it yet I cant get it.
Prior to March, 2016 my independent broker's firm decided to use Fidelity as their clearing house and transferred all my managed accounts to Fidelity. The accounts transferred included my Retirement Trust Account that he managed. There were no problems having all my accounts transferred with the existing documentation. The MAJOR problem happened when I personally transferred the portion of my Retirement Trust Account that I'm managing with the exact same titled Retirement Trust Account. With the assistance of my broker I submitted my Retirement Trust Application with the same supporting documents sent with my Brokers application of the same title and with a completed Transfer of Assets Form.
In short, Fidelity opened my portion of the Retirement Trust Account even when they weren't satisfied with my documentation and proceeded to immediately fund the account utilizing my completed Transfer of Assets. After they transferred my funds to my newly opened Retirement Trust Account at Fidelity they froze the account without notice until I provided proper supporting documentation, which Fidelity dragged out fro over 3 months. Fidelity also refused to send the money back to my Retirement Trust Account in the institution they wrongly transferred the funds from.
I had to pursue Fidelity for over 3 months after the account was funded, by numerous phone calls, personal visits, utilizing my independent broker and the lawyers who wrote and manage the Retirement Trust Agreement to intervene before I could finally determine and present Fidelity with the documents they were requiring. It took over 3 months which included BREXIT for Fidelity to finally remove all restrictions on my portion of the Retirement Trust. Fidelity never notified me my account was cleared of restrictions and free to trade. The same way they failed to communicate with me when they restricted my account!
When I submitted the application to open my Retirement Trust Account and other accounts I was awarded hundreds of free trades for one year. As I started trading on my Retirement Trust account, I was being charged for commissions on each trade. When I inquired, I was told there are no free trades available on this account. After calling the representative who agreed to the free trades, he INITIATED an investigation and found that my allegations were correct, the free trades were reinstated. ONLY with the clear understanding that the free trades would only be available for 1 year starting from the time you submitted your application in March not from the time your account was free of restrictions.
I submitted a Complaint to FINRA which Fidelity finally responded to at the end of their 90 day required time period. Fidelity summarized that they handled my account appropriately and released it from all restrictions as soon as I provided all the required documents. Fidelity doesn't mention how difficult Fidelity made things for me! Fidelity had me submitting multiple sets of documents on many different occasions and with each submission elicited further requests for more documents.
Fidelity also doesn't mention that despite my diligence it took me over 3 months to resolve their restrictions. Both my independent broker and the trust lawyer were floored by Fidelity's behavior in continuing to delay removing restrictions from my Retirement Trust Account. FINRA didn't see any problem in the way Fidelity behaved but said that doesn't mean they are not responsible for financial damages. Of course, FINRA doesn't want to say anything negative about their members. In my opinion they lose all credibility when they make decisions through rose colored glasses, they're obviously biased!
Fidelity's response to FINRA also stated the had MISTAKENLY transferred the funds into my Retirement Trust Account before it had been fully opened with completed Retirement Trust Agreement documentation and they apologize. Fidelity admits to mistakenly funding my Retirement Trust Account! Why didn't Fidelity immediately return the funds to my Retirement Trust Account in the institution from which they took it, where I would have been free to trade during a very volatile period in World and US Stock Markets?? Why?? Fidelity also went on to repeat the same mistake a couple of weeks after the initial Retirement Trust Account was opened by accepting a Retirement Trust Account contribution wired in by my Accountant before I knew my account was being restricted.
I have never received an explanation WHY Fidelity didn't handle my Retirement Trust Account funds with appropriate care and regard for their maintenance. I submitted to Abigail Johnson, CEO of Fidelity documentation of my complaint, requests for better management by Fidelity for all clients that have suffered or are suffering from Fidelity's unwarranted restrictions, and request for compensation. Ms. Johnson's response, through an underling, was offering me a 1 year continuation of the remaining trades I was awarded on my Retirement Trust Account.
Fidelity held my money hostage. Fidelity has set up a system that makes it impossible to talk directly with the appropriate Fidelity person responsible for making the decisions on your account. All interactions are by a Fidelity representative on the phone or in person interpreting what has been entered in the computer under your account. In my experience there were so many mistakes, misstatements, and mismanagement that it becomes clear why Fidelity doesn't want you to know who they are conversing with over the phone or computer regarding your account. This is the way Fidelity avoids all responsibility. PLEASE, PLEASE, PLEASE Don't Use Fidelity!!! I've used other online brokerages and you will do much better with ANY of them instead of using Fidelity! Think about WHY does Fidelity with all their great advantages have to offer so many free trades to lure customers??
Supposedly ordered a funds transfer from an IRA on 1/12/2017. Was told it was completed and that payment should arrive the following Tuesday or Wednesday due to holiday on Monday. Tuesday no payment, Wednesday no payment, Thursday no payment. Called broker (via phone) "Oh I know, it probably was an electronic transfer, check your bank account." No. No direct deposit. Wednesday the transaction statement arrives via mail confirming the transaction occurred on 1/12/2017.
Today, 1/20/2017 mail came and went no payment, no direct deposit and everyone is now shrugging their shoulders with a 'I dunno' regarding this transfer of funds. What an utter BS company. It doesn't take EIGHT days to perform a transfer. When participating in an automatic contribution plan Fidelity doesn't wait 8 days to add my money to their revenues. Regardless of all the excuses the statement of transaction is dated the 12th and arrived two days ago without any problem. The excuse now is that it takes 3-5 business days, well even accounting for the MLK Bday holiday we are now on Business Day FIVE! I have ZERO trust in this company. Welcome to ripoff banking island. If only negative stars were allowed for a rating. Next stop MN AG's office to file a complaint.
I've been with Fidelity for quite some time, mostly because my employer's retirement programs were with them. While I think that Vanguard better products and lower expenses, Fidelity is decent. I've also used their IRA accounts without any problem. The fact that they are not open on weekends make it very difficult to get support. My weekdays are booked and I'd practically have to quit my job if I need to call their support line.
Recently I was canceled from Fidelity and will remove my accounts. My complaint is Fidelity failed to act on recent transfers in 2016 properly. Fidelity also provided a statement online reducing my account by $30,00 and after a call put it back. The rep told me they could discontinue me as a client of Fidelity. They did so on 1/9/17. They did not provide recourse saying they could remove my accounts without due process. Prior to this the rep said they (Fidelity) could discontinue their services. I believe the action was arbitrary and capricious and will recommend to my friends to close their accounts with Fidelity.
We are members of their 'Private Client Group' which probably helps. Fidelity has been excellent for us for 40 years, before and after retirement. We have used Vanguard (terrible), T. Rowe Price (quite good), Charles Schwab (OK) but none comes close to Fidelity. The best customer service we have ever had. Before retiring, there was a branch near us which was convenient. After retirement, there is no branch close but service still excellent. Fidelity handled the tricky change of trustee when one died very quickly. We fought Vanguard for 8 weeks over the same issue (moved all Vanguard assets to Fidelity after that).
I was at first asked to give a video interview which I initially thought of as innovative. After and during my second interview by phone, it became clear that my interviewer was judging me and treating me as if I was not worth being spoken to more professionally. Words or phrases like, "Oh, let me stop you right there. You don't say that at an interview!" and "I don't need to hear about that!" I felt judged and as if I had no shot from the beginning of the questions. She attempted to give constructive criticism but was not at all helpful, instead left a bad taste in my mouth.
Professionalism is important, but being personable is imperative for a more thorough interview. I was completely floored when she then said she didn't think I wanted something long-term, and that's what they were looking for. I couldn't believe me saying, "I am looking for a company I can grow with and stay in until retirement," "...and I was even more interested in Fidelity after watching positive employee testimonials of those with Fidelity for 30 years..." was not translated into me looking for longevity. I am Filipino and born and raised in the states with only one language I speak fluently, English. I think she judged me based on my appearance and race. I don't feel it was at all a fair assessment of my abilities or intentions.
I casually signed up when I worked for a company temporarily, choosing not to allow Fidelity to take money out of my paycheck. I believe it was required. It took about 2 minutes and a couple of checkboxes. I finished my 4 month contract with the company and then went elsewhere. The Fidelity account is still open and I regularly receive snail mail from them. I'm very uncomfortable with another financial account being open in my name, and am even more so annoyed that there is no easy option of closing the account. There should not be this much difficulty in cancelling an account. I feel like it is to Fidelity's benefit that it is so difficult. If anyone wants to get a lawsuit going, I'll participate. I sure won't be using any Fidelity products. They have really tarnished their image. Shame on you Fidelity.
We set up power of attorney for mother in hospice. When I stopped by to get some funds to pay for hospital bed and bills I was told Fidelity has a 30 day hold while they confirm power of appointment (they gave us $10,000). After 32 days we went back, still not completed. Waited another day. We needed more money sent to mother's checking account. They asked why? I said "excuse me?" We have power of attorney. It's our fiduciary responsibility to take care of money by the order of the grantor (mom). They said it's up to Fidelity (it's in the account statement) that they DO NOT have to distribute money if they don't think it's in the client's best interest. I said she is in hospice. After 5 month of hospital stay, they wanted proof?? BEWARE. They have the power and keep you on hold and run you around in circles.
I have had an account with Fidelity for over twenty years. Recently I attempted to seek some advice from the local Fidelity service center. In September I contacted them to ask to set up a meeting to review my plan and to add more investments to my account as I was sitting on a lot of cash. It took close to one month to get someone to call me back after repeated calls. I then contacted the so called service center manager, Paul **, who did call back. He provide the name of an adviser, Jason **, who took another week to return my call. He said he would send over his calendar so I could find a time that I could schedule in a time. Interesting enough there was no time available in his calendar.
This happened another two times over a month period with the same result. No available time to meet. On the 15th of December I sent an email requesting that Mr ** return my call. As of the 21st of December I have not received any response. I am in the process of moving my funds to another investment company as no one should be treated with such poor service. I will make sure everyone I know hears this story. Pathetic service.
I worked for a company who offered a 401K and a Profit Sharing through Fidelity Investments. The money was taken out of my paycheck for many years. I was contributing 25% to Fidelity, after reading books like "Million Dollar Latte" and Jim Bogle's about Mutual Funds. What a great idea for a little guy to get in. Well I got in. The company had an advisor who was advising to buy more when the shares were down. During many years of giving them the money through a government encouraged saving for "retirement", I ended up with so little money that I am embarrassed to say. My 401K plan allowed to keep the money there and add to it, even if you were no longer with the company. So I left it there, added some. 401K should be safe, right? Well, the company went out of business. I did not know it. Fidelity DID NOT CONTACT me to find out what do I want to do.
When I found out about the company going out of business, I called Fidelity. They DID NOT KNOW WHERE WAS MY MONEY! After several months of calling, I finally found out that Fidelity put MY MONEY into some fund in a distant city. When I called the fund, they were asking me for all kinds of proof of identity. Needless to say, it took more months of dealing with this unknown fund. Finally, they sent me my check and probably took taxes from it. The amount was PITIFUL considering years of savings, big promises of high returns and it ATE UP MY PRINCIPAL. I would have been better off to live it up instead of responsibly thinking about retirement. 401Ks with any form of stock market are a complete money down the drain.
Al Capone said when asked why isn't he in "the market". His answer, "It's a racket!" I wish I listened to him. By the way, I finally got my money in 2009 and was told this year (2016), that due to statue of limitation I can't sue Fidelity. Also, due to flood I lost all my documentation. This is a story of warning. Go to Vegas, before giving these legal crooks your hard earned money.
I live in Australia and 8 or so years ago whilst working for a large US Multinational I was offered stock in the company's stock plan. I took it but a few years later I left the company. Initially the stock plan was run by E-Trade and it was easy to manage. For some reason my former employer switched to Fidelity NetBenefits and for all intents and purposes my money might as well be gone. These guys are impossible to contact.
Apparently there is an online portal for me to manage my stocks. I say apparently as I can't access it. To get through their login system I am asked for my company ID. I left my former company 8 years ago and can't remember my 'employee ID'. They have another 'recovery option in their system and it involves knowing your social service number. I am an Australian citizen living in Australia, I don't have a US Social Security number and won't ever be getting one. They don't have any email address or chat facility to contact them for help. Apparently I can either send a snail mail international letter or call them. A few years back I tried calling the specific number for Australia and managed to leave a message on an answering machine.
At 4 am my wife and I were woken suddenly by the phone, there was a guy on the other end from Fidelity returning our call. I asked him if he understood the time difference between Australia and the US, he didn't. He tried to help me by asking for my employee ID and when I didn't have that he asked for my Social Security Number. I explained that I couldn't remember the first and was not eligible for the second. He then said he couldn't help me unless I had a 'notary public' sign something declaring that I am who I claim to be. I then send that to the US postal address and maybe they will believe me. I think we have notary publics down here in Oz but they aren't very common. I gave up.
I am at my wits end, I realize they are probably trying to protect themselves from online criminals but this is verging on madness. I cannot access my legally bought assets. I can't go into a Fidelity office because I live in Australia! Worst customer service ever from an international's perspective. Any CEO's out there of international companies, don't setup your stock plan with these guys. I pray that somewhere in my commercial life I am going to run into these guys in a business setting somewhere, maybe their sales come to pitch for commission work or something so that I can literally shout at them and have security throw out of the building, it would almost be worth the value of the lost stock to treat them the same way they have treated me!
Beware that Fidelity systems have trade errors! When using activetrader pro, I bought a security and on the upside try to sell it. Received instead the message: TRADE ERROR and could not complete the sale twice! Ended up selling at a sizable loss once the system came back up minutes later. Called Fidelity and received the standard answer, that yes there was a system error but the customer agreement states that this can happen so you will just need to accept the loss even though Fidelity collected $10K of trade commissions on the account over 60 days. What an honest and customer friendly company.
Fidelity Investments has all of my money and has frozen both my individual checking account and IRA because of some suspected fraud. This was triggered when I tried to send a payment for car parts using the bill pay service. The accounts were frozen despite my talking to numerous representatives and verifying my identity and purchases made on the account. The representatives have told me that the accounts will be unavailable for at least 3 weeks. I was having lunch at a restaurant when I found out that I could not use my debit card, and was unable to pay my bill or purchase gas to go home.
My wife's birthday was the next day and I did not have funds for gifts or celebration. I have no way to get money unless I start selling my assets. At this point, I am unable to pay my mortgage or purchase food, since I have no other source of income. This cannot be legal. I have read the complaints of others who have similar experience. There is no problem putting money into the accounts, but when you start taking money out, the accounts are frozen. There needs to be litigation to correct this practice.
I attempted to close my account and it's taken over a week. The people at Fidelity branches and over the phone don't communicate. I have traveled over hour to branches to deliver paperwork to be told over phone I needed more. I tried to close my account and all of a sudden it's flagged. I brought in a car registration, drivers license, stock payments, passport and other documents all with the same address I want my check to be send to and they told me it wasn't enough! This is ridiculous. They will take your money with something as simple as a debit card number then require world to get it back! Stay away!
Jeff ** a Westlake Texas based broker with Fidelity Investments is scary and a thief! He stole $1600 out of my checking account through what turned out to be a hidden "Nigerian 529" scam. He first told me he needed to process an outgoing ACH wire from my checking account which is non refundable. Then after a few days I called because no deposit posted to my Brokerage. This Polish piece of trash then told me the ACH was final and that I would get a check in the mail in 30 business days! When I complained and threatened to sue him, he told me he would come over to my house and break my teeth and skull open. He called me a stupid curse word and also informed me that his dad played for the NFL and that I would get my skull fractured if I ever called him or his wife again. What a violent piece of poor ** trash! Where does Fidelity find these losers?
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