Fidelity Investments Reviews

Cost me a ton of money. I put it in water and I had over 2000 shares of navidea. Sit down about 1:28, I put a stop in at 3% so if it went down it. Would I would get out of it before earnings call on the 28th, I went to change it to 1% to be safe, all of a sudden, it says pending in there. Somebody changed it whatever, I don't care. $23000.

I have had an account with them for many years. It was never great, suffering from the usual large corporation problems including poor service and long wait lines. Until they lost over three thousand of my money, admit it is their fault but are not sure they can get it back. And if they do, all fees associated with recovering such money will not be reimbursed. Stay away.

I recently had a small self-directed traditional IRA I wanted to roll over from another source. I talked with Fidelity for over an hour, set up the correct type of account, sent documentation and had the source transfer funds and note the Fidelity account number on the check. Guess no one can read in the processing department. They ignored all of the work I did in advance, sent the check back and said they needed clarification. By the way I already clarified the type of account is was with a Fidelity rep on the phone with me and the rollover source.

I would give it a no star if I could! I am shocked that with the company I am employed we are auto-enrolled into a contribution amount without a grace period for refund. I am a new employee and my paycheck was short quite a bit of money only to find out I was "auto-enrolled" into a contribution (which should be voluntary) and when I contact them as soon as it happened they would NOT refund me for it and said I was auto-enrolled and should have canceled it. "OKAY well I will take $1000 out of your bank account and UNLESS you get my message in time and stop me it is mine to keep" - thievery

I tried to close an option trade at the end of 3:40 pm 7/16/24 in CVNA on when the one contract was up over $300, the mid-price was $39.40 bid 39.40 and ask was 40.35. I got a message saying sorry the website was unable to take my trade. I sign on this morning 7/17/24 and now I find the bid is 31.70, ask is 34.00 and I am down over $300. Fidelity's inability to have a reliable website cost me over $600.

I am convinced they are making profits from us all. I don't understand why they did not allow us withdraw our money when we want to. Their customer service is terrible, they never respond to messages. I lost $67k and I regret dealing with them. Although I made a report at Rezzonnaire Tech and already got my funds recovered to me, I regret dealing with them.

I had $29,000 in cash in my Fidelity account but my account was hacked. The loss was never covered by Fidelity & now I no longer have that money. Read the fine print before you use this company. They are not an FDIC bank covered by the government. Use caution. I am 72 years old so I don't have the time left in my life to earn that kind of money. Personally, I am old & very disappointed. I keep my cash in a bank & my stocks seem to be safe. Do not keep cash in your Fidelity account or you are risking losing it. If they don't post this review then they are not only dishonest but outright thieves like the crooks that hacked my nest egg savings.

Did a roll over for for retirement. I paid for secure delivery of 2 documents. Due to the bad deliver of UPS that they purchased with corp funds a package blew away. I requested secure services and none were rendered. Ups said the $50 charge could be returned to Fidelity but Fidelity if they request the refund but they refuses to request a refund. The money I paid for secure service can not be returned unless Fidelity request it. I would not trust Fidelity with any of your money because they can't seen to handle a simple transaction.

Worst experience of my life. The financial advisor I worked with was deceptive and definitely not a fiduciary. He knew I was low income and did not pay taxes yet he was harvesting losses on my account and I lost around $15,000. I trusted this guy and his team, I liked them a lot and I never thought they would do something like this to me. I am a senior in my 70's and I cry over my loss because it was intentional and unnecessary. I went to Arbitration but lost because he sent me an email stating that he would harvest losses on my account. I did not know that this was a legal document and just thought it was a mistake. I had discussed with him that there was no need to harvest losses because I am low income and do not pay taxes. I had over 250 transactions on my account in 11 months. I think as we age we become too trusting, please senior investors do not do business with Fidelity.

My former employer transferred an annuity to Fidelity from TIAA. The annuity got cashed out into a money market fund. When I tried to withdraw the money from Fidelity I was blocked and they cut off my website access until I provided a Power of Attorney and a doctors note that said I was disabled and incapable of managing my finances. I have complaints in at Finra and Attorney General’s office in multiple states.

Had an account with them, didn’t earn anything over the span of 4 years. I work in a similar field so when I try to contact them to see if they receive paperwork that I fax or email them or to check on status of anything they literally hang up and I have to call back at least 3-5 times. It’s like they don’t want to help you. That’s why people are transferring money out of your company into way better ones.

They are not to be trusted and do not look out for your best interests. In a 2.5 year period of time we lost tens of thousands of dollars while they continued to earn their fees from our account. At no point in the relationship did we gain as much as a penny. Buyer beware!

10 months ago debit card was canceled automatically for fraud detection. Ordered new cards over 30 times over the coming months to my house, UPS/FedEx drop off locations, even rented a P.O box and still couldn't get it. They don't have a physical location that exists to get a card or withdraw money they said. Told me I could sell my stocks and receive money that way as Christmas was approaching (6 months after they locked my account). Of course they mail the checkbook from securities account with the card... lol.

I've been with Fidelity for about 30 years. While other companies have made it more difficult to actually talk to a rep, Fidelity remains available and helpful--and wait times are reasonable. Trades are free. Statements have been accurate. In all those years, I've only had one problem--the rep didn't know what he was doing on a complex IRA transaction and messed it up badly, with potential expensive tax consequences. However, my next call went to a different rep who advised me of the error, and Fidelity ultimately corrected the issue to what I hope will be the IRS's satisfaction. I've tried some other brokerages and none of them had good customer service. With that one exception, Fidelity's is excellent. They're now the only brokerage company I use.

My statement says $0. However I put 20% of my pay in that account for 1 1/2 years. It's not a while lot. But it's money. I no longer work there, so I was going to withdrawal the money. My statement says I have $0. And. I keep getting emails acknowledging a receipt for life insurance with fidelity.. Which I never ok'd or bought! What the heck? Another rip off? It seems like that's all that happens to me. A big rip off!!!

The investment recommendations provided by you resulted in significant financial losses for me. Despite voicing my concerns, I was not given satisfactory explanations or guidance on how to mitigate the losses. I had to use an independent advisor Libbey ** on Google and I'm back on track now. Fidelity please do better.

1099R form has incorrect code on line 7 due to the fact that there is no line 11 on the form. I have made 2 calls and both times was told that they can't do anything about it. This 1099R form originates from Fidelity. The end result is I am unable to file my taxes. I was told to have my tax guy fix it. HR block says they cannot.

Mike I.

I was transferred three times to one person to another and held time was average 10-20mins to talk to someone. I was just calling to get one of my account dividends reinvested to the company because the app won't allow me to do it myself. I hate talking to customer services because of instances like these. It feels like no one knows what they're doing. Just terrible experience.

Customer service is random, it depends who you get. I was given very conflicting and inaccurate information that I actually had to research and verify with Google and an accountant. There was no breakdown in layman's terms. Do not deal with them.

Fidelity is really having a bad time I guess and I think they are folding up. I have been having a series of bad experience with this company and from other peoples reviews you can practically tell from other people's review as well. But regardless of the trouble they put me into, I was able to get all my money retrieved. Thanks to A C T I F I N T E C H. C O M who helped recover all my funds from them.

In March of 2023 my grandfather wrote me a check for 10,000 to help me save a little quicker for a down-payment on a house. I opened a Fidelity account with the intention of having all my savings in their money market savings. I deposit the check (written on Chase Bank check) to Fidelity and my grandpa okays the check when Chase calls to confirm the check is valid. Check clears Chase and shows as deposited. Fidelity deposits the check and immediately freezes my account flagging it for fraud. I call the fraud department and they give me 2 options. First option, send a notarized letter with gold medallion signature from my grandpa stating funds are good to deposit; this is not possible as gold medallion signature is not issued for personal checks and Chase Bank would not grant this stamp.

Fidelity Investments tries to reduce daily trading by any means. Fidelity created a false violation on my account to prevent me from daily trading and increase Fidelity cash to daily trade. All my margin daily trades only settle the next day. Now fidelity daily trades on my money while preventing me from daily trading.

Fidelity was supposed to transfer my solo 401(k) with 2 participants from another provider. They screwed it up royally, only managing to transfer my wife's account. After hours on the phone and back and forth messaging, and now no response for a month, I've given up and am trying Schwab now. In addition, if there's a problem with the account, they don't tell you until you're trying to use the account. The opposite of proactive. I tried to make a trade on an account today, and the account was blocked. This account has been open for 6 months. I called, had to spend 15 minutes on the phone only to find out they had an issue with the address. Why didn't they tell me and resolve it way back when the account was set up. Awful, terrible. If they are this bad, why would you trust them to manage your money?

My mom passed away last year and listed me as the beneficiary and Fidelity has made me go through loops just to get my moms 401k. Every other week they send me a checklist of different things they want me to provide for them and every time I provide the information they need they come up with more ridiculous stuff that I need to send them. It has been over 7 months since my mom has passed and I am still going back and forth with them. My advice to anyone is don't send your stuff through Fidelity.

I had to verify my account off of my old number so I called in and tried to verify but since I did not have my account number that you need to be logged in to see and a exact date I started the account I was unable to be verified unless I submitted a form in the mail and had to jump through. I’m glad I haven't yet used the account and had no money in it so luckily I’m not losing anything. But I will no longer be using Fidelity.

3 - 9 months in advance which seems to require because the firing came with one month's notice.

Made the bad decision to let them manage my accounts and soon after things never performed well. A better deal for Fidelity than those they are supposed to help. Do not invest with Fidelity especially out of their Florida locations.

Fidelity started a Crypto account where you can buy/sell bitcoins and ethereum. They advertise ‘no fee’ and until Sometime in June this was the case. In June they announced a 1% spread. This was not clearly visible on their site, but an * pointed to a max spread of 1%. So if you bought assuming no fee/spread/commission you can’t sell w/o a 1% spread.

My previous employer terminated their pension plan and hired Fidelity to handle this communication to retirees and offer for lump sum payment or early annuity to eligible participants. The election period was from September 15 until October 31. I did not even receive my packet until October 7. My name was incorrect, and address was as well, even though I called and updated this information in July 2023, as soon as I receive the first notification that this was going to occur in late summer. When I called to let them know, the information in my packet was incorrect. At that time they informed me they would need to mail me a name change and address change form to correct the information and then would have to send me another packet.