Fidelity Investments

Fidelity Investments

 3.9/5 (728 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Find an Online Brokers partner

Find a vetted fiduciary to help with your finances

See what financial advisors are near you on SmartAsset

Get Started

About Fidelity Investments

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Find a vetted fiduciary to help with your finances

See what financial advisors are near you on SmartAsset

Get Started

Fidelity Investments Reviews

Recent
  • Recent
  • Oldest
  • Most helpful
Any
  • Any
  • Rated with 5 stars
  • Rated with 4 stars
  • Rated with 3 stars
  • Rated with 2 stars
  • Rated with 1 star

A link has directed you to this review. Its location on this page may change next time you visit.

How do I know I can trust these reviews about Fidelity Investments?
How do I know I can trust these reviews about Fidelity?
  • 4,114,109 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Sept. 1, 2022

I did a direct rollover Fidelity 401k to Fidelity IRA. My IRA balance from rollover funds was short $4,438.28. Call center agent at Fidelity says he can confirm that there is $4,438.28 missing but he has no idea where it went and that I should call back. That is a lot of my hard earned money missing. I worked hard for every penny of that money that Fidelity has stolen from me. Statement shows I should've had full balance rolled over. Do not rollover to Fidelity. I want my money back.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 16, 2022

I open account, and I send first ACH deposit from my personal account to the new Fidelity account $3,800.00. Next day I try to make a payment and the system blocked my account and I call, he says my account will be deleted "money laundry" "pass throw", I have a serious company, and nothing is wrong, this is **, I'm OK if his wants to close my account is his decision, no problem. BUT 1 week later I still waiting my money back!!! I think this is wrong, this company work with your money for free and don't give back to you. I call again and now he says the only way to get my money back is calling to my bank asking for a money recall. Unbelievable!!! More lies. They can just transfer my money back in seconds!!! But they prefer the wrong way.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 16, 2022

Fidelity Investments has been horrible to deal with and when a 6K was stolen and used to open an account with them, they could have cared less. They have refused to investigate and consider the matter closed while I'm out over $6200. Do not do business with this company! Go with someone who cares and has integrity. That does not describe Fidelity.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 8, 2022

If you are the type of incompetent who desires to pay very high fees and hold only mutual funds; you never trade stocks or ETFs; you don' t mind getting shafted with all sorts of restrictions on you account ----then Fidelity is the robber for you. I've help and traded stocks off and on for fifty years. My wife asked me to manage her Fidelity account. My God, what a clown show! It takes this company up to two weeks to clear your trades and credit your cash account. TWO WEEKS. How in hell can anyone function as an investor with the shackles this outfit throws at you? An investor could be bankrupt and not know it for two weeks.... I transferred my wife's entire account to a stockbroker - a real everyday broker, who knows all the ins and outs of the market. You get what you pay for and all this free trash that Fidelity offers you very, very, very useless. When something is free, then YOU are the product - a fleeced sheep. Bah bah, bye bye, Fidelity!

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 7, 2022

In the course of attempting to transfer assets from my account to another person's Fidelity account, Fidelity loaned me $250k at 8.xx% interest via a margin debt, without contacting me for approval beforehand. The cash proceeds of this unauthorized margin loan were then transferred to the other person's account. Note that Fidelity was clearly instructed to do an asset transfer, NOT a cash transfer. Fidelity created the cash in my account via the unauthorized margin debt loan. I never authorized a cash transfer because 1) I did not have $250k in cash available (at least before the unauthorized margin debt loan) and 2) the receiver of the $250k of assets were the ones to pay the taxes on the transferred assets when the receiver decided to liquidate the assets.

In the process of undoing/correcting this unauthorized transaction, Fidelity then balked at my re-done Letter of Instruction (LOI) because I only specified the dollar amount of each fund to be transferred, not the share price of each fund to be transferred. After ranting with the Fidelity rep., they told me that they would process the LOI as written. I am waiting to see if they are true to their word. My question for myself is why the hell am I with Fidelity after all of this?

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 2, 2022

Glad that I moved my money somewhere else, I`m a knowledgeable day trader and I always had to send `em an aditional money because of nonsense constant "trading calls and restrictions" that they always put on my account in which is something that I don`t have and never had this problem with any other stock broker in the past and present, also they immediately unnecessary closed my account without my consent after I moved my funds to another broker firm.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 13, 2022

I had question about my account and escalated it to a supervisor name Chav ** who did not resolve my issue and was nice nasty, condescending, and racial. He spoke to me in this manner because I'm a **, after all my transition clear with Fidelity I am closing out this account.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 10, 2022

My experiences at Fidelity have been anything but enjoyable. I joined them with IRA and the first mutual funds I invested in I had trouble. I wanted to pull out in early January but had to wait on a few of them for 60 days or be hit with a 2% withdrawal rate. On the 6600th day I went to move them to cash and on two of the three funds they were still trying to impose the 2% fee so I couldn't get out. I could reach anyone until after hours and all I got was a smart loud mouth supervisor who just yelled at me and won't lift a finger.

Now I'm trying transfer a few funds to my checking account and it's nothing but hell. First I had to get it set up (expected). Then the bull and lies start. The rep I was trying to get this set up with was dizzy or something; couldn't get a yes or no answer for my life so I got a supervisor who explained the process to me and I even gave it back to him in simple terms and he told me it was correct. They were going to deposit two small amounts to my account and then take them back in one withdrawal. I would get an email when this was done and then I could transfer when I needed it.

Well, right after hanging up, I get an email telling to verify their action!!! They said it would take 2-3 days to do this; why am I getting this now??? So I call them today; 30 minute wait and when the rep comes to answer; they disconnect me. So I call back and get a dizzy rep again who cannot explain a thing but hinting I need to know the two amounts they deposited in my account. NO ONE told me this the other day; including a supervisor!!! So I get another supervisor demanding I know the amounts and then he hangs up. Might take all day to do this. Stay away from Fidelity; they are nothing but trouble. I can't wait to get my money away from them!!!

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 25, 2022

I transferred some money from my bank on Friday afternoon and it is now the following Wednesday and I have been informed that I cannot access that money until Friday morning. If I had known, I would have used another broker which gives me access to the funds immediately. As an options trader, this is completely unacceptable.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 18, 2022

These people lied to me and made decisions with my money without my consent and I am looking to sue them. They screwed up my retirement that I've been saving since I was in my teens. These people act professional but they are not honest or looking out for your best interest.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 13, 2022

When embarking with Fidelity Investments on Fidelity Managed Services they very quickly took my money and it was completed within 24-48 hours. However, now that I want to reverse back to a "Self-Directed" Self-Managed Account(s), they told me that Fidelity Managed Services has invested me in proprietary "Strategic Advisor" (SAI) funds that are only available with private client services or managed services - and that I cannot port them back over in-kind to "Self-Directed Account" and that I would need to SELL THEM ALL OFF despite the fact that it might cause me undue financial hardship and may not be the most optimal timing to sell these investments, I may lose a significant amount of money in doing this - when all I want to do is unravel myself from Fidelity!

12 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: April 29, 2022

I recently (April 2022) opened a brokerage account with Fidelity Investments ("The Fidelity Account"). The setup process was reasonable, and I like that they have $0 trade fees. I haven't been using the account long, but I will say that the user interface seems a bit complicated and definitely has a learning curve. That said, they do provide a great deal of data on their site, and claim to have many sources of investment advice. I haven't yet attempted to use those resources.

My main reason for the review today is to comment on their funds policy. I funded my account with an EFT transfer from my bank. The funds show in my account, but are not yet settled even though the money has already been debited from my bank account. If the funds are not settled it limits my ability to use them for trading. In this day of instant transfers, it seems a bit shady to me to have such a delay. I've read many reviews from other people that detail long delays in accessing funds in different scenarios. This is a bit concerning, and something that people should look at when considering doing business with this company.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 28, 2022

I have two different places where my money is. One place is with Fidelity, which I have manage my money. In the yearly consultation, Fidelity knows I’m conservative. I lost a much higher % of my money, through Fidelity, than the account I managed on my own! (Plus Fidelity has an added cost for them to manage my money!)

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 31, 2022

Ted **. I would not recommend Fidelity. I just retired. A few months ago I had the desire to put all my Retirement accounts with Fidelity so they would be easier to manage. I was told by fidelity, via their website, to open a traditional and a Roth IRA, Fund them with $100 each... and that would prepare the way to transfer them over. I did so.. and Fidelity then said they did not want my business. Now.. to get my $200 back.. I must send back account statements, copy of drivers license.... Yesterday I asked to move the other funds I had with Fidelity to my bank sponsored Investment dept.. and asked Fidelity to send me a check for $26,000... and with a phone call... they told ME my bank account #.. and assured me it was on the way...but still I cannot get my measly $200 back... without sending all the above info.... and absolutely no reason why.. Sound like a scam to me...

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 30, 2022

This company lied several times on recorded calls. Refused to provide my 1099-R after 18 hours of calls, going to the branch in person and so forth. Held up my taxes and even told the accountant on recording they were faxing it. Told the branch they were faxing it. Said they mailed it 3 times with verified and accurate address. They did none of it and purposefully will not give me my IRS tax documents so I can file properly and I said I have never seen shadier and more unethical people. They lie and waste for. They have so much money they waste your time Too. Worst company on the planet.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 26, 2022

They screws up my rollover and recorded that I took out a loan. I got killed with taxes even after having several discussions with them. All they were focused on was trying to coerce me into investing money and every time I tried to ask about 401k stuff they transferred me. Shady stuff that cost me big time. I strongly suggest that you reconsider before doing business with these people.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2022

I had been a customer for 5 years. Had some success and Fidelity was fine. 2 days ago I tried to place a good size trade and got a message that my account had been restricted. I called and asked why after 5 years they were restricting my account - their answer, "You never filled out a Power of Attorney form." Called again and asked why after 5 years they were restricting my account from buying anything, their answer "we have a group that we're not allowed to talk to and they will not give any reasons for anything they saw. That's our policy." Five minutes later I initiated a transfer to my other broker. It wasn't a big a account, around 100k but even so, that is so cheap and low class. Never again.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2022

After sending 3 forms of government identification (D.L., birth certificate, Social Security card) along with numerous other documents (current bank statement, bills, 4 vehicle titles/registrations & insurance cards) and numerous other documents they still refuse to give me my $ back! They have been stating for over a year and a half now that they can't verify my identity or my address which is a flat out lie. I've even brought the phone book sized amount of documents to their local office in Chesterfield Missouri and still not enough they say or they give one of 30 other excuses. I've contacted a lawyer but so far still no luck obviously I'll have no choice but to sue them. Do not deal with fidelity they are as crooked as they come! Also even though they say "we can't verify your identity or address" they send me monthly statement to my address where I've lived for years now.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 9, 2022

I went from TD to Charles Schwab, which was a nightmare and could not get into my account ever to Fidelity. I read on the Paid reviews like NerdWallet etc, and they rated it a 5 star. Let me tell you I may go back to TD. At the beginning of the opening bell you figure Fidelity would update the stock to the correct amount, heck no, not until 27 to 30 minutes later each day do they finally post the correct stock amount... Do you know what can happen in the stock market in 30 minutes! So I rate Fidelity a thumbs down! 1 out of 5 stars because Brokers are all about money and they can't keep time with the Market. A big money losing liability!

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 5, 2022

I had my entire active 401K invested through my group in Fidelity. There were multiple choices one could make to invest in, as well as how much you wanted to take out of your paycheck and where that money should go. At least that is the way things should happen. Unfortunately, Fidelity is allegedly hurting investors, unless you don't make any adjustment BUT beware, because several of those investments that are in your allowed 401k portfolio, will cause a 1-year LOCK on your account.

When does Fidelity tell, certainly not when you make the transfers, but in a notice one week later. You are block for 1 year and can only make trade 1 per quarter, even if the stocks you have are losing majorly does Fidelity's ancient website ever come up with a red, red flag saying, you may run into a problem or a locked account before you make the trade. No--- it's time to switch to a different, more above-board, up to date, company that has websites that help the consumer. Investor beware.

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 4, 2022

First, I like Fidelity's financial products and how they manage the accounts. My complain is most on their technical and service support teams. Just within two weeks, I faced two technical issues from their trading system. First time, I can't submit order due to their system outage. I noticed multiple users left the same complaint. Second time, I can't submit order due to another cancelled order in previous day after market. In both cases, the issue cost my money. When I contacted them through the online chat and give them the details on how to reproduce the issue, both agents have no patience at all and I have very bad experience. Fidelity has high reputation of investment products and I hope your technical team and client support team can provide same quality.

7 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Feb. 4, 2022

I've been with Fidelity for 13-14 years. They are the best broker I have had. Their representatives have been intelligent and efficient and well-trained. I have never had a poor experience. My favorite thing about Fidelity is that they allow an unlimited number of price alerts, which can be set up 10 at a time. That feature alone will keep me with them. No complaints. Previously, I had four other brokers.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 1, 2022

First Fidelity closed my account with no notification or reason. I had to call to be told my account was being terminated because I have a drug charge on my record that is over ten years old. I asked why are they running a background check on me and they had no response. I paid my dues for my past mistakes and the charge had nothing to do with stocks or trades. I find it confusing they would close a $300 account at that. I barely had any money invested and I didn't apply for a job so why are they running a background check or in my personal information without my consent.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 27, 2022

Updated on 09/22/2022: So even though there has been no revelations recently, that we didn't know 9 months ago, every month, they lose my money. I am down over $500,000!!!! WTF? My advisor does not care and basically says that if I don't like it, cash out. Then, turns around and tries to get me to invest my remaining amount in their Fix Income Managed services.... Really!? And today, I go and see that they lost another $25K in managed services, and my MS advisor is no longer listed anywhere!!! WTF?

Original: My employer had selected Fidelity for our 401(k) plan and with limited options for investing, i.e. only Fidelity offerings, my portfolio was slowly growing just fine. After I retired, I researched other investment companies and decided to leave my money at Fidelity, in the accounts that I had already been invested in when I was working. I had been counseled by the Fidelity advisor that if I really wanted my portfolio to grow, I should consider their managed services. I checked out other firms like UBS, Insight Wealth Management, etc. and thought why not give Fidelity a try.

I decided to move about 75% of my, or $2,597,000 over to managed service, in two accounts, one an individual account ($1,597,000) and the other into a rollover IRA ($1,000,000). Prior to moving the money, I had met with their managed service team, and asked about volatility, risk tolerance (6 out of 10) and fees (they get about 1% of the TOTAL portfolio, which means even if they lose money, they still get paid on whatever you brought over).

Fast forward 6 months, and my 25% that I still manage has grown about 10%, where the managed service account has dropped (and continues to drop) by over 5%. I voiced my concerns, but there is always an excuse. My gripe is that I asked about who is actually managing my portfolio...They say that they have hundreds of analysts working on maximizing my portfolio's value, but all I have seen for 6 months is a steady decline. I said I'd wait a year before pulling my money out, and that's what I plan to do, hoping that it at least gets back to the original value. If it gets there before a year, I will cut them off, liquidate and pull my money the heck out of Fidelity.

15 people found this review helpful
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: Dec. 14, 2021

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.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 14, 2021

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.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 5, 2021

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.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 2, 2021

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.

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 23, 2021

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.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Nov. 5, 2021

UNBELIEVABLY LONG WAIT TIMES TO SPEAK WITH SOMEONE! They have been managing my money for years now, I can't get a hold with someone on the phone. I just give up waiting and have to hang up. Are they thinking that you will stay on the line hoping that someone will finally pick up and you get lucky! I thought this was a good company.... So annoying and disappointing! UPDATE: OMG! and that's not all - after waiting for 45 min for someone to pick up, she/he will then transfer you to someone else and wait another, God knows how long, hour or so! What a Financial institution! Disaster.

13 people found this review helpful
Loading more reviews...

Fidelity Investments Company Information

Company Name:
Fidelity
Website:
www.fidelity.com