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Calling Customer Service several times a day at different time. Stayed on hold 1 hour each of the three times that I called. This is preposterous - should have a call back service set up or something to avoid SUCH LONG TIME HOLD for customers if the company is THAT BUSY or THAT understaffed. Contacted through FB messenger and received a general message that is not helping and meaning nothing. This company is through my employee who has a contract with this entity but being on my own would never chose it for service.
Fidelity issued me an incorrect 1099 reflecting a transaction as not-taxable. I informed them of their mistake and they acknowledge that it is wrong but refuse to correct it because there is no proof it was their fault. They do not care that the information they provided to the IRS is wrong (I owe tens of thousands of dollars more than they reported), the only thing they care about is the fact that there is no proof that the error is their fault. They actually pulled recorded calls from the transaction over a year ago to try to prove that I did not tell them the money would be going into a Roth account. I did tell them that at the time and even if I hadn't, as an investment management company they have an obligation to provide accurate information to the IRS.
Finding out that the money went to a Roth account and was therefore taxable should immediately trigger a corrected 1099, it should not matter whether there is proof that they were responsible for the mistake. We spoke to about 15 different people on about 10 separate calls with probably 3-5 hours on hold trying to get this corrected. I do not believe that Fidelity is an ethical company and I would not trust them with any of my investments.
Our account has been restricted for buying/selling 2.5 weeks ago without any explanations. After waiting 1.5 hours on the phone I got an info about a form to fill because we moved from Wisconsin to Minnesota. I filled the form but this did not removed the restriction. 3 days after sending a secure message I got a response that there is some additional form that need to be filled, but the form itself has not been attached and not identified in any other form. I re-sent a message asking to get the form but Fidelity does not respond for more than 1.5 weeks.
I need to get answers on retrieving stock certificates and cannot get to speak to anyone. The online question/answer option does not understand my question. Called and held on for 45 minutes with no luck in an attempt to speak to someone. Tried the online chat and after 15 minutes was informed that I was number 152 in the queue. I have not contacted anyone there is over five years; have had an account for over 15 years. Considering switching to Raymond James.
Stay away...find somewhere else to invest...customer service not helpful plus long wait times...the site info hard to find on it...the app doesn't work half the time...don't waste your time...Try Robinhood.
So I made the grave mistake of trying to reestablish an investment account with Fidelity from an old IRA account that I no longer use. When I established the online investment account I figured I'd make this a family account and allowed 3 other family members to help fund it. Well Fidelity initially locked out the account because they suspected "fraud" due to the multiple funding sources and use of my password. I contacted their customer service multiple times and even spoke with representatives from the "fraud department" and explained to them how I intended to use said account. I was later instructed that I would need to establish a JTIC [Joint Tenants In Common] account if I wanted to grant access to my 3 other family members.
Nearly 2 weeks has gone by with no additional guidance from Fidelity and no account access so I contacted them a final time to further inquire about establishing the new account [a JTIC as communicated to me by another representative] only to be later informed that my account will be closed and I can no longer establish any accounts with Fidelity moving forward with no additional explanation regarding this verdict even in light of me contacting them multiple times explaining EXACTLY how I was initially using the account in the beginning. So as of 2/18/2021 the customer service rep informed me [without any concrete explanation] they will simply close out the current investment account and forward the remaining balance to my personal bank account and supposedly I am now barred from establishing additional accounts with Fidelity Investments?
This comes even in light that no fraud was being committed as I have provided necessary transparency and verification of my financial activity. This is totally Unacceptable!! Even despite Fidelity Investments' long history in the finance sector I will not recommend this institution to anyone. This was not only beyond disappointing, this experience was a true testament of how even basic customer service in America is now in the toilet.
I get locked out of my account every.single.time and NOBODY is willing to help unless I waste half an hour and answer the same 100 questions that I did the last time. That is after you finally get to someone, which could take 45 minutes.
I intended only to google recent ratings on them; not write. Have a Fidelity IRA for years and wanted to roll a 401K into it. First, I had to make an appt. They gave me poor verbal instructions and I had to go back. They promised to send me an instruction link and it's been 2 weeks now and I still don't have it. Really? I called another branch 2x and never got through. After reading similar experiences here, I am now rolling my old Fidelity IRA in the opposite direction. If you're not the only game in town you need to take care of your customers better. You just lost a substantial amount of business.
I have been trying for three days to get someone to pick up the phone. I have tried at least 3 different numbers and just get put on hold indefinitely! The company is missing in action. It is disgusting!!!!!
I initiated a rollover of a fidelity 401k (old employer) to a fidelity IRA with the intent of improving my control and investment options. Both accounts were managed by fidelity. I spoke with customer service representatives about the process before beginning the process and was assured this was a simple common transaction and would only take a few business days to complete.
While that would've been great, what actually happened was anything but. I initiated the rollover just before Thanksgiving of 2020. I requested an in kind rollover and was told that wouldn't be a problem. What actually happened at the start of this process was a horrible mistake (by fidelity) that has yet to be explained.
Approximately $20,000 disappeared for about 2 weeks. This was my first GIANT red flag that something went horribly wrong. After being given the run-around, I was finally able to get the issue escalated and was told that an adjustment would be made. PART of the funds were then deposited into the new IRA. That was just the first adjustment of several that have never been explained and don't yet reconcile the withdrawals from the old 401k with the deposits into the new ira.
Despite countless hours on the phone and more service reps than I care to count, the only response that they have been able to provide is that they made a mistake during the initial rollover. They're now working on their 3rd adjustment (without ever explaining the 1st or the 2nd) and still haven't balanced the accounts as of February 04, 2021. I've got a small amount of funds trapped in the old 401k which they refuse to allow me to move until the other adjustments are complete and still have funds missing from my new IRA (that were never deposited).
Fidelity has been the antithesis of transparent during this process. Despite my calling 3 times this week (and being on the phone for over an hour each time) the only response they will provide is that "someone will be in touch tomorrow". Despite these promises, no callback has been provided and they are now refusing to release funds because the never ending adjustment is still in progress.
I understand that mistakes happen but Fidelity has been unwilling to assist and unwilling to explain what happened. That coupled with blatant disregard for their callback promises and the fact that they are now holding funds hostage has lead me to write this review. I advise extreme caution when dealing with Fidelity and recommend you avoid the company if/whenever possible. This company has earned the very rare zero star rating in my book.
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