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Fidelity Investments / bad faith

1 OH, United States Review updated:

Took a lot of time to have allof my accounts sent to fidelity. After being told teat you need $50, 000 to be partof the porfolio advisors. The fee wasn't bad compared to othr advisors. Now after spending hours with teh fidelity agent I get a letter out of teh blue with no advanced warning stating fidelity wil nolonger advise you as of december 31, 2010. No reason given. I sent a letter to the person that signed the letter"wqhatis teh reason?" I get a very rude response in that fidelity gave meall teh reasons. Still no reason. Scottrade here I come

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  • St
      25th of Dec, 2010
    0 Votes

    Lowest fees don't mean best service. Anytime a firm doesn't want your business, they have a good reason to take a pass. Why slam the firm in public? I am sure they did nothing wrong. They sent you everything in writing, you just didn't take time to read it. Make sure you read the paperwork at the next firm, or we will have to read about your misunderstanding again. If you want full service, you will need to step up and pay a fair fee. (which means higher) than what you are paying currently. If you want to save money, then you will need to do most of the work. Fidelity felt you were not a good fit for their program, they saw the future, you would not have been happy, so they declined your business. Everyone was served well in this deal.

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