About Fidelity Investments
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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.
Fidelity has been helpful for me as someone who is finance phobic. They keep me sufficiently engaged to allow me to make sound investment decisions. The company also employs a variety of specialist who are available to advise me on various financial planning needs like wills, trusts and inheritance arrangements.
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Ready with help when I call. Webpages easy to understand and navigate. In addition, Fidelity has a help desk one can access from the web. Overall, best I have used so far. One can easily print out statements or other information from this site.
Excellent choices with a great service. Value for the price is also very good. Some of the lowest fees for brokerage. Really flexible choices from a vast portfolio. We have had the account with them for a while and never complained. Solid background with solid choices.
I am not sure why so many people have 1 star reviews. I think they are great. I have been using Fidelity for so many years that I used to have to pay to use them. Now they are free. Their client services is great too. ** Thank you Fidelity.
Hello, I am a 58-year-old, retired Special education schoolteacher and coach. I opened an account at Fidelity on 12/9/19. I deposited approximately 320k and used Fidelity for my investments and checking account. I was provided an advisor named Mr. Alex ***. He tried to make hard sells to me, but I did not need that since I make all investment decisions myself. However, Mr. *** was available to troubleshoot from time to time when I met him in person and spoke on the phone. In fact, he was helpful. There were no issues until 1/25/21 when I needed to receive a routine wire transfer from another U.S. bank account of mine. I contacted Mr. *** who said he was too busy and referred me to Ms. Angela ***. She was difficult to reach and ended up providing repeated incorrect instructions for the bank wire. It got lost for two days before my other bank was able to retrieve it. On 2/5/21, a similar occurrence happened to deal with Ms. *** despite this second wire being sent from my same bank account. On 2/8/21, I needed to SEND a bank wire to my other bank account. Mr. *** sent me a Fidelity PDF document to sign and email back to him, which I did. That document authorized Fidelity to send and receive bank wires on my behalf. That new bank wire got accepted, then rejected, then accepted again, all of which ended up being Fidelity's fault. For that wire, I got referred to some other incompetent clerk. I then escalated this matter to that department's supervisor, Paulina at ext. ***. Initially, Paulina was apologetic and assured me this would never happen again. However, on 2/16/21, Paulina contacted me and said Fidelity needed YET ANOTHER signature from me on the SAME PDF document I had already signed, which had been approved before having any of my bank wires sent. Paulina also said that I needed to WALK these newly signed documents IN PERSON. This was despite my having repeatedly met with Mr. *** last year, along with making numerous paper check deposits in person. I contacted my attorney, who was appalled and felt this might be a scam. He advised me not to sign any more documents and to escalate this matter to Fidelity’s corporate office, asking for the reason they were requesting this. On 2/16/21, I did as my attorney advised and never heard back from anyone at Fidelity until 3/5/21 when I received a written message from a Fidelity manager named Mr. Richard ***. His message was vague, and I responded to Mr. *** asking him to clarify, which he ignored. In Mr. ***'s message, he claimed that Fidelity requested I re-sign the bank wire authorization again and MAIL it. This was contradictory as to what Paulina had told me, which was that I had to WALK into a Fidelity location and hand-deliver it.
If you are an active trader stay away! Spent 2 days trying to get funds reflected that were wire transferred after numerous calls - made clear it was from another IRA. Finally got the funds to reflect but while I was busy making a trade an HOUR before market closes they unilaterally decided to close out my options on expiration Friday locking in losses that was still under water. Pathetic customer service. Predatory practices. Why do corporations still use them for 401K? Schwab and TOS 100% better. Heck even Robin Hood is better.
The matter was resolved.
DISClAIMER: This post and the information shown below is my opinion and based solely on my personal experiences. For the past few weeks, I’ve had a financial issue with Fidelity. As a result, I’ve called 1-800-Fidelity numerous times and am always transferred to different departments and employees. Although this is only my opinion, I have spoken to a manager at 1-800-Fidelity and she does NOT like to follow through and refers me to different departments. Fidelity is good when I want to buy and sell, but if I have an issue that needs to be resolved, management and the “Back Office” at 1-800-Fidelity have NOT followed through and continue to give me the runaround.
Poor service on Power of Attorney. Representative asked my wife to come to the line without detailing what kind of question (not specific just general). I tried to tell she is in the middle of something, and can not come unless it is simple one from top of the question, or if complicated one (i.e. account number), then I need to ask her. Regardless, representative cited security. Come on, it is about respect, time management and security.
I called Fidelity 6 months ago when I was decided to purchase a new home. My company’s plan is structured so that loans are prohibited so my only recourse was a hardship withdrawal. Due to a problem on net benefits, I had to engage customer service. After several phone calls with extended wait times, I was told I was eligible for the withdrawal. I was quoted a figure and told which fund it would have to be taken from. However it would have to initiated by the back office.
Fast forward to May 2021 and I found my new dream home. When I called this week, I once again had to place multiple phone calls and was on hold cumulatively for over an hour. I spoke to several members referring them to the notes from my previous contact six months earlier. However after several days, I was informed that I am NOT eligible for a withdrawal. This news was extremely devastating to me as I had contemplated the funds as I’d been advised that I was eligible. Extremely poor service which has significantly impacted my future!!!! How is it possible to be told two completely different things when the plan structure has not changed!
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.
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