About Fidelity Investments
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If you have questions or technology issues per online trading, Your questions are answered in record time by real live humans. You're never put into a robo-caller hell. Personnel are courteous and attentive to one's questions with clear and concise instructions and assistance.
This company is great in keeping the clients up on what to expect in my portfolio of benefits. Monthly I receive reports and explanations on how and why. Retirement funds - that I invested through employment. With all the fraudulent activities that are going on this company can be trusted.
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When you leave a company, you can transfer your 401-k to Fidelity free of charge and for the last year or so Trades are free also. Great website and you can get a daily email with results of stocks you want to watch. If you set a buy for $1,000 (because that is your available cash balance) and price ends up $1,200, then just call Fidelity that day and they will let you sell some of you other shares to cover the difference.
I've had some experience investing on my own for personal accounts using several platforms including Robinhood and Stash. Fidelity is the easiest to use, everything is upfront and the availability for help is immediate. Any issue from general questions to 401k can be answered with ease. I know my money is safe, secure and managed all the time. I love the fact they offer free webinars to help learn more about trading and investing. I can even arrange a meeting with my advisor, and if I don't feel comfortable with the advisor I can always request to change.
I have been a client with Fidelity for over a decade. I have retirement accounts and a brokerage account and I would recommend them, especially someone who is in my demographic and who prefers my investment style: 40 years old, married, middle class and who prefers investing in actively managed mutual funds, some passive funds and ETFs, and some individual stock picking. I also have a Robinhood account and a Webull account and I use them for more aggressive trading, but Fidelity is by far my choice for my long term investing. Their research platform is excellent and the number of mutual funds they offer is outstanding.
I was tempted to switch to Charles Schwab because Schwab was offering a bonus to switch and I had called Fidelity a few times and experienced long waits. I expressed my frustrating in a letter to the company and received a satisfactory response that stated the company has hired 7,200 more customer service representatives to help better service clients by phone. So if you are in the market for a investment brokerage, I definitely recommend Fidelity based on their research platform, investment options, and improvements the company is making to better serve their clients.
I have asked a number of times why Fidelity continually sells my stock at the lowest point and buys my stocks at their highest point. No explanations are given except that the formulary. Also, I was told my commission fee would be .7% and there would be no cost for trades. On my monthly statements, I see that I am paying 1.45% in commissions and fees. I have lost $5890 between August 2021 and December 2021 while all my other 401ks are making money. Having a managed account with Fidelity seems like a really losing proposition to me. I watch my money with Fidelity deteriorate and it is the majority of my entire portfolio.
They liquidated my retirement account while I require a rollover in kind. It took 4 months to get the problem resolved; and I was shoveled in between department when calling in their customer service. Calls took ages to be picked up. Up to the end, I didn't know how the mistake was corrected accurately. I did not receive a detailed breakdown regardless numerous calls to them.
I have had a 401(k) account through my employer, with Fidelity Investments for 20+ years. In January, 2021 I requested a distribution from my account for $10,500, which originally, was to be wire transferred to my account with Bangkok Bank. Later, Fidelity explained that they were unable to wire the funds directly (this is accurate, and apparently the result of a change in Federal Regulations), and instead, sent me a paper check, via USPS. That check never arrived. In or about April of this year, I called them again (BTW - I live in Thailand, and have to pay for all of the foreign calls I place, regardless of their "toll-free" status in the US), to tell them the check had not arrived. Fidelity cancelled the January check, and sent a new check, this time via UPS. I sent this check out for collection on April 30, 2021. Fidelity claims that check "cleared" on June 17, 2021; in fact, the check was never honored.
The first week in July, I went to my bank (Bangkok Bank), to inquire about the delay in posting the money to my account. Bangkok Bank followed up with the clearing bank, Bank of America; BofA confirmed they were unable to collect the funds from Fidelity. I called Fidelity again, and was told they would research the problem. I received no communication from Fidelity after this, though I called several more times. In October, I spoke to a Response Manager from Fidelity, who requested I fax her letters I had from Bangkok Bank, and Bank of America, explaining their failed efforts to collect the funds from Fidelity; that fax was sent out on 10/22/21. She promised she would contact me once she had a chance to review and research the problem; she never did. It is now December, 11 months from the date the funds were supposed to be paid to me, and have not been paid.
In that time, the money has never left Fidelity's account, and they have presumably used that money for their financial gain. In the most recent call to Fidelity, I requested they pay me the interest I had lost, because of the delays in sending me my funds; they refused, saying they had not done anything wrong, and so, shouldn't have to pay interest on my money. They still claim they have not had sufficient time to research the matter, and have no estimate on when (if?) they will send the money they owe me (to be clear, my own money). In June of this year, I began the process of removing my savings from Fidelity, rolling the funds over into another fully qualified pension plan. That story is almost identical to the original story, down to refusing to pay me the interest which should have accrued to my account, and which was instead given to Fidelity.
I have been going around with them for three months trying to establish PoA authorities for my parents' accounts. After told that I needed to complete a Fidelity form along with sending copies of the PoA. Fidelity would come back every two weeks asking for more information. Then after three months, told that the Fidelity form they told me to fill out was the wrong form and I would have to travel back to my parents' state of residence and start the entire process all over again complete with notary. The incompetence I have faced over the past three months (!!!) trying to get what should be a routine event for a large brokerage firm is mind-boggling. In doing a similar Trust arrangement with another one of my father's accounts with a different broker, the process was done in 2 days.
Fidelity has restricted my account and will not let me withdraw my money. They hung up on me and told me I was no longer a client while they have my money. I would use anyone besides fidelity. Stay away.
Fidelity author review by Clark Kendall
Fidelity Investments is a privately-held full-service financial firm that offers an extensive range of investment options, including online trading, retirement accounts, IRAs, mutual funds, life insurance and more. The company has been in business since 1946 and now serves more than 25 million individual investors. It is headquartered in Boston with locations across the United States.
Branch locations: Fidelity has nearly 200 branch location across the United States. Investors who want the option to trade online as well as get in-person help from a professional will appreciate this option.
International trading: Fidelity clients can trade on the stock exchanges in 20 countries, including Hong Kong, Japan, Australia and the United Kingdom. Investors can choose to purchase or cash out stocks in U.S. dollars or the foreign country’s currency.
Research trial: Account holders at Fidelity have free access to several research tools. They can learn about stocks, EFTs and other investments as well as set up watch alerts. Interested customers can sign up for a free 30-day trial to see whether they find the tools convenient and easy to use.
Managed accounts: Investors who prefer a hands-off approach can set up a managed account with Fidelity. The company offers five different managed account types with a $5,000 minimum investment.
Protection Guarantee: Consumers can feel secure with a Fidelity account. The company’s Protection Guarantee ensures that clients are covered if an unauthorized individual makes changes to their account. For full terms and details, visit the Fidelity website.
Fidelity Investments Company Information
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