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You first must have an investment account. Keeping your retirement there helps. After that, taking advantage of their online banking features is easy. And the account can earn many times the interest of your other bank account.
I have been pleased thus far with my experience with Fidelity. I opened a brokerage account in February, and recently opened a cash management account and awaiting rollover of traditional IRA. The only minor problem experienced with the cash management account were the 4-7 day delays in making deposits from my former bank account into the CM account.
I was opening a business account and had a lot of back and forth, not having a clear understanding of what documentation was needed to open the account. After several phone calls and several faxes I finally talked to a lady by the name of Steffanie **. She was awesome. She listen to me and took on my issues and promised to help. Even though she didn't know all the answer she went out of her way to get me the right answers. She even offered to follow up with me regarding my issues, which she indeed did. I realized that it really depends on who you spoke with at customer service. My one star experience was turn around by one employee that helped me get the account up and running. My recommendation to the company, assign every new client a person of contact to help them through the account opening process, especially for business accounts.
I am not well versed in finances, but setting up an account online was easy. Fidelity Go allows me to invest the way I want without having to learn and select everything myself. It automatically makes changes based on my age and preferences for risk. I spoke with Lina over the phone to set it up and she was incredibly helpful!
I have never experienced any of the problems listed. 30+ year customer - it is the only brokerage house I trust. They walked me through many transactions over the years - rolled FOUR 401ks to them, setting up a recent Self-Emp 401k... They know their systems, products, and how to treat customers.
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I have been trying to get the final distribution check for my daughter’s 529 plan for 2 1/2 months now and I cannot get the money. I cannot even get a manager at fidelity to call me. It’s only about $700 and I think that fidelity just decided that they can steal this money without consequences.
Fidelity sold me an irreversible annuity which was absolutely the worst investment I could ever make. The had talked me out of another annuity from another company 5 years prior to and caught me off guard when the market was high. In addition they encouraged me to move money from another company and then wanted to charge me exorbitant fees for managing it. So.. if you want an opportunistic company, that takes advantage of little old ladies.. choose Fidelity to manage your money.
While I took my RMD before the end of the year, their useless software took it again. I had two accounts, one in my 401K and the other one as a simple trade account. Even though they had a software who was showing the RMD taken already, they took it again. When I complained they just fired me. Don't even think to go with them. I just switched to Schwab and I am very happy. They have the best software and an artificial intelligent software very sophisticated.
On 11/22/2019, I called Fidelity to transfer my Mother's IRA to them. The Rep, told me to fill out the ONLINE transfer, and walked me through the forms. I also requested BOTH the account transfer AND a Durable Power of Attorney form to be sent by mail. I was told later NOT to return the paper copy because this would cause confusion. Fidelity rep said online form is faster. On 11/23/2019 I sent the Power of Attorney form by mail.
On 11/24/2019 I was told they REQUIRE two more documents because the account is CLOSED. They wanted a copy of my Mother's SSI card. AND they had me fill out a W-9 Tax Form which again I did online as directed. I called 2:49 on 11/26/2019 to follow up on the account being closed and I received confirmation via the Secure Message Center online the SSI information was received. I NOW see the account is FUNDED, the transfer has occurred. During this call the rep, "Contacted the back office" to confirm all was now again in order, and ask why the account is STILL closed. The rep, Glenn came back on the phone and I was told all the forms have been received, and ARE PROPERLY filled out.
This morning 11/27/2019 I logged onto the account to check the status, since the paperwork WAS received and in order, funds in the account, and to check if the Power of Attorney was in force. UPON logging on I paniced... $0.00 Balance? O-M-G were the funds stolen? What happened with my mother's money. I called Fidelity. Today's rep. kept checking with "The Back Office" who were now, providing information COMPLETELY opposite of all I had been told in the days before. After a LONG time of asking for a Supervisor or Manager, finally I was connected with a manager. I was told, he cannot discuss any matter relating to this account. UNLESS he speaks with my Mother. She is 89 years old, has Alzheimer and does not understand the stupid questions they ask. This Manager REFUSED to answer what happened to my Mother's money, and in FACT locked the account.
SO, Fidelity takes upon themselves to make judgements. Funny, all was normal UNTIL the account was funded. NOW Fidelity takes it upon themselves to hold her money and to not answer any questions. I HIGHLY SUGGEST you think twice about turning YOUR hard earned money over to Fidelity. I certainly have NO trust left. A Required Minimum Distribution (RMD) must be taken in December. I also explained this IS a time sensitive matter. Mailing time involved. And I have received NO service as of now whatsoever. Please THINK before YOU turn your money over to Fidelity. Once they have it, they sure change their tune. Very helpful to get it, then good luck fighting with Fidelity.
I took out a small but necessary 401k loan and paid for expedited shipping with UPS. UPS lost the check. I let Fidelity know ASAP-it was supposed to have been delivered the past Friday, but they were closed until the Monday. End of business that Monday they said they had to cancel the first check, then the new check would go out today, Tuesday. I explained it was extremely time sensitive situation, literally crying. I offered to pay for overnight shipping and I was concerned about the Thanksgiving holiday as I won't be home, and I needed the funds before then. I was told that " there's a chance it will get there Wednesday as it is coming from NJ" and that overnight was not an option. They would not direct deposit as it was a new account and they have a ten day verification period.
As of Tuesday afternoon, today, I received no tracking info so I called. The rep said there was no tracking because the check was sent out REGULAR MAIL! I nearly fell off my chair. I asked to speak to a manager who could help me. I was on hold over 20 minutes, then the rep said he could send it out 2-3 days and waive the fee (gee, thanks) and that it should get to UPS today (it was before 2pm). He also said overnight was not an option. So I get a tracking number, this evening, Tuesday, and it is just that a label has been created. UPS does not even have the check, when if anyone listened or cared, it could have gone out today. They clearly don't care. I'm considering stopping my contributions and going back to TIAA CREF. The funds now will likely get here a week after I spoke to them about the first check being lost, and get here too late to help my situation, which defeats the purpose. Worst customer service. If I were a business, you can bet a check would have been overnighted. The worst.
Fidelity expert 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.
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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