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Fidelity Investments
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1.6 155 Reviews

How responsive is Fidelity Investments's customer service?

14 Resolved
113 Unresolved
Poor 🫤
Fidelity Investments is a rare visitor on ComplaintsBoard, so the pace of resolving complaints leaves much to be desired. We believe they should spend more time and effort on reviews to naturally grow customer loyalty. As for reviewers, we'd advise carefully reading existing reviews to understand what to expect. It's also helpful to go through the few complaints that Fidelity Investments has already resolved to get a clear picture of their customer interaction and potential challenges in resolving your personal issue.
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Fidelity Investments reviews and complaints 155

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Newest Fidelity Investments reviews and complaints

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Fidelity Investments sanjay chakladar / fidelity investments

A warning about sanjay chakladar

Sanjay chakladar tries very hard to act american.In fact, he is a little pussy that will steal credit for your work and stab you in the back.

My advice is to check this guy out before you do business with the thief.

Sanjay chakladar works at fidelity investments (Sanjay. Chakladar [at] fmr.com)

Sanjay chakladar used to work at ge capital for a few months.

Sanjay chakladar went to a indian school in the ghetto of kanpur.

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Fidelity Investments non disbursal of pension funds

Fidelity investments was supposed to disburse my pension funds 10 months ago... Still waiting... Filed a complaint with sec. Corporations should avoid fidelity at all costs.

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Michael Vdovets
, US
Feb 01, 2016 10:29 am EST
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Really disappointed with Fidelity customer service and handling my IRA accounts. I had business dispute with my partners in 2007 and they rerecorded court filling. This case was dismissed in 2007 by the court; Fidelity had never notified my of a claim against my accounts. I made few deposits to my account since 2007 and again Fidelity had not notified me that there are lock on my account. in 2013 Fidelity internally had restated same claim on my account from 2007, and again no notice to me of this restatement. Unrelated to this I called Fidelity with the question and Fidelity rep told me of a hold. I had immediately submitted copy of discharge order from NY court and local dismissal order of the claim. regardless they refused to release and Fidelity is insisting that I need to produce the original release stamped within blue seal (9 years later after the release of a claim) which means travel to NY from Chicago. They are ignoring copies of a court order and release statement from the court; only originals dated within 90 days.
Customer service representative flatly refused to escalate my claim to the higher up, stating that he is the deciding authority. Wonder if Fidelity ever monitors these complaints or they could not care less. Just in case, If Fidelity truly checks on complaints the person that insists that he is the highest authority at Fidelity, his name is Cade Wolston; (Fidelity File# W028727)

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Johnson and Doshier
Rowlett, US
Mar 16, 2012 11:48 am EDT
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im thikin they probably keep it longer and longer to collect the interrest off your money. My grandpa had problmes with Fidelity a few years ago, 2009, and it made him sick to the point he had to appoint an attorney to help him. its awful he had to pay 3 thousand five hundred to lawyer and then 2 weeks after he got the money put in his bank, he died. i have no respect for Fidelity and I pray God's judgement on them as with what happened to Enron, Countrywide and others that areso scandelous, evil, and take advantage of people that worked most of their lives and allowed Fidelity to use their hard earned money and now they think the money belongs to Fidelity and they can treat people any way they want to and not follow the law. well, there is a law far greater and a God that is far closer than most think. Goodbye Fidelity, judgement day is near. That is from God In Heaven, Jehovah-Jireh, Jehovah Shalom, Jehovah Nissi

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Johnson and Doshier
Rowlett, US
Mar 16, 2012 11:37 am EDT
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I filled out the request to have my pension disbursed to me first week in December 2011 and here it is March 16, 2012 and I have had so many problems and excuses from this company that its pathetic. I worked as manager in the customer service department for BOA mortgage area and they are no different there. I have seen some things that a person wouldnt believe a company would do. Anyhow that is a whole different story. First they told me I didnt complete exactly right, however, the system said it was ok and I was being mailed documents to go over, get notarized and send back. Weeks went by and nothing. I called and the rep at Fidelity said I would have to start over. I did, and same thing. Finally, I got paperwork, and sent it back overnight the same day, this was last week in January. Every week the computer says you can expect your check no later than February 10, then they change it to February 17, then to February 19 and now it has March 16, 2012 and was told it was changed to March 23, 2012. And now, they tell me this is just a estimate. How can Fidelity send me letters that say You can expect your check No Later Than February 17, 2012 and every week they change the date a week out? I have went round and round with the reps and several have put in research tickets, escalated it, and no one calls me back. Damn, this is like being stuck in A Fidelity Pension Nightmare and when will it end? What can I do? Who can I talk to? I am to the point of giving up on life altogether. This and whole situation has me in Depression so bad. Pleae, anyone send me some advice.

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12:43 am EST
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Fidelity Investments miscommunication from representatives

I spoke to a representative on 02/24 asking about a loan that would be available to me. She stated if I paid off a second loan and told me what amount to pay off, I would be eligible for a new loan. I called back today to inquire about the loan (03/03) I am being told that there is no other loans available to me. I asked to speak to a supervisor and to listen to the call on 02/24 since I had made my payment for the outstanding loan based on the communication I received. They said it would take them 5-7 days to pull the call to listen to it. Are you serious? First I wait all this time and then when I call back I am being told to wait another amount of days to be told that I would not be eligible for another loan. The supervisor I talked to was so unhelpful.. His exact words were " so I am not understanding what you would like us to do".. Not even apologising for their mistake.. I am done with this company..

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11:29 pm EST
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Fidelity Investments bad faith

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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Stay Balanced
Palm Beach, US
Dec 25, 2010 6:11 pm EST
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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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4:04 am EDT

Fidelity Investments retirement fund contributions

On April l5, 2010 I mailed via US Mail an IRA contribution to Fidelity Investments for the 2009 tax year. The deposit slip and check both indicated the IRA contribution was to be used for the 2009 tax year. Fidelity received the IRA contribution on 4/20/2010 and ignoring the letter' postmark, the tax year designation on the check and Fidelity deposit form and deposited the IRA contribution for the the 2010 tax year because it arrived one day after their arbitrary receipt cutoff (4/19/2010). As a result I have needed to file an Amended return with both the federal government and the state.

My complaint is as follows:

(1)Fidelity failed to disclose in any of their written or online literature that an arbitrary cutoff date of 4/19/2010 was in effect. If I had know this was the case I would have electronically transferred the funds or sent the contribution registered mail where I could have provided proof of postmark.

(2)Fidelity deposited the IRA contribution clearly designated for the 2009 tax year into the 2010 tax year. They did so without notifying me of the issue. If I had not been carefully reviewing my accounts for unrelated issues, I might not have caught the issue until the following tax year or at a minimum would have caught it later. Further, I am unable to withdraw the 2010 IRA contribution without fund redemption fees, since the money is already invested in funds with 90 day redemption fees.

In summary, the Fidelity cutoff date is arbitrary and harsh with respect to US Mail. Further they have not fairly disclosed the existence of the cutoff date, nor did they act properly in depositing the account for the 2010 tax year when they were specifically asked to deposit it for 2009. Finally, they admitted that while the postmark date is controlling with respect to a 2009 contribution (must be postmarked by 4/15/2009), they deliberately fail to check the actual postmark date.

The above practices are egregious and place burdens on everyday tax payers and in my case, in addition to an amended return, will result in IRS penalty fees.

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beautee
Atlanta, US
Mar 19, 2012 8:42 pm EDT

Change to Fidelity

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trader4000
cincinnati, US
Aug 10, 2010 9:37 pm EDT

People can't be held accountable for your ignorance. Maybe by learning to not procrastinate you could get a lot furthur than you are now. I don't understand how poeple can always complain about service from any type of company when you wait for the last minute to do anything. You sound like the kind of person that would expect the world to bend over backward and have unrealistic expectations. Best of luck moving forward. And by the way, the compliant you have is irrevelant because it is an irs compliant, belive it or not, investment companies can't change tax laws. best of luck

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Fidelity Investments - retaliation, fraud and malicious acts of bad faith

Through my experience with Fidelity, I totally agreed with the other investors who have similar horrific experience of the unethical and unlawful business practices of Fidelity. I do not trust Fidelity handling my investments, and have defrauded me previously. The staff is very rude, hostile, abusive and uncooperative. I have transferred most of my funds to...

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Fidelity Investments complaint against fidelity investments

1)) I have invested Rs.10000 under tax advanatge fund and given purchase request on 5th of february( Transaction no - [protected]), which is under process as on today after 13 days.After that i regeistered the complaints in Fidelity thrice, but still neither my invested amount is returned to my account nor it is reflecting in my Fidelity folio.

2) I have submitted KYC form along with online application form on 03/02/10 - sent through normal post as per their advise.Also as per their guidlines mentioned in the KYC application form, i have sent my Original Pan card and Voters ID card to Fidelity-Mumbai adress. Still i have not got any acknowledgement on the same and even i have not got my original pan card and voters ID card back

Pls guide me on the above issues, also let me know the correct platform to discuss this issue.

I shall be ever gratefull to you

Thanking you
Vasude Bankapur

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Pete57
Anchorage, US
Feb 03, 2012 8:18 am EST
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Have been dealing with fidelity since November trying to get the correct amount so I can start my retirement and they refuse to get me the correct information. I have given them all the correct paper work. I am told they have bumped my case up to high but that has been 3 weeks ago. They never call back with any updates.

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Kevin
, US
Mar 04, 2010 5:16 am EST

I have had an account at Fidelity for many years and it has been frustrating. The salesmen have become very high pressure, getting your money out of your account is difficult - I have had to call the chairman's office 3x to get my money, and they charge you to close your account. I am closing my account this month.

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Edward Wang
Kirkland, US
Feb 15, 2011 9:38 pm EST

I recently rolled over my IRA accounts from Fidelity to wells fargo and were charged $50 for closing account. I talked with a customer service representative, he said this fee is charged for keeping my account information, that I didn't ask them to keep.

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1:51 pm EST
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Fidelity Investments phone rep. misinformation

I spoke with Jusin Catal regarding rolling my Fidelity funds into a 457(b) and asked if there would be any account closing fees for either of my funds. Justin stated that if a $50 close fee applied, notification of that fee would appear on my sell screen when I sold the shares via their website.
When I performed my close sells online, no notification appeared onscreen, leading me to believe that no close fees applied.
When my transaction notification came through on the next business day, a $50 close fee was listed for one of the funds.
When I spoke to a rep named Chase about the matter, he said that although the rep misinformed me, the fee could not be recovered because it was already deducted.
I will never do business with Fidelity again, as this was the second situation in which I have been misinformed by one of their phone reps that caused me irreversible fees that I was told I would not encounter.
The first situation was in regards to the ability to contact them collect during my extended time outside of the country. That also was incorrect information that caused me about $72 in low fund balance fees.

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Fidelity Investments tax fraud

A long-ago employer of mine had some type of investment account with Fidelity, in my name. I found out about this many years later, and asked Fidelity for a distribution. Fidelity said they would be glad to send a distribution, but only to an address I no longer lived at. This may seem absurd, but they made it clear that they would only turn over the money by mailing it to an invalid address. So I gave up.

In 2007, Fidelity closed the account without warning, mailed a distribution check to me, and sent a 1099-R notice to the IRS as well. The check went to the wrong address, of course, and Fidelity says it was never cashed. I found out when the IRS contacted me demanding payment of taxes.

Fidelity still refuses to turn over the money. I asked Fidelity to at least correct their 1099-R filing, and they refused to do that as well. They refused to provide any written documentation to me or anyone else. The IRS says that I don't have to pay anything if I just get Fidelity to acknowledge the error in writing, but Fidelity refuses to.

It's one thing that Fidelity owes me money and won't pay; what's disturbing, however, is that they willfully violated federal law. I'm pursuing legal action.

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Fidelity Investments illegal bond trading activity

Fidelity reneges on it's Bond trades by mysteriously removing the trade after it already fills. From what I noticed twice when this happened both times (May 28, 2009 and June 23, 2009) they seemed to find cheaper shares to replace my sold ones with thus sending me the bonds back into my account and taking my trade and money away (stealing money out of my account as well as stealing my trade).

the trade went through on many forms of Their site, it was filed in the History or transactions, the Balance changed to support the trasnaction, Positions showed the shares gone that were sold, Third Party transactions showed the transaction took place, and orders showed filled with date time and transaction number. Over 30 minutes later it was wiped out without notification or justification or legality to do so. It is illegal to change a trade let alone claim to guarantee trades and not fulfill that guarantee nor make right of such acts being caught red handed.

To rub salt into the wound the supervisors of the Fixed income desk are the ones who handle the complaints even though that is a conflict of interest this is how Fidelity handles such issues.

If you have such issues with Fidelity trading like this or missing dividends and interest payments like I had twice before also, then contact the SEC web site and fill out their complaint form.

In the case of the missing dividend they posted but then vanished like this bond trade, in essence literally taking money out of my account and only placing it back after you notice and complain. How many people don't notice nor complain and how many Fidelity reps are allowed to continue to rip people off because their process of dealing with customer issues is geared towards the thief being allowed to give the client the run around avoiding investigation

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intelichoice
Roseville, US
Aug 12, 2009 9:49 pm EDT

Michael,

Sorry to hear about the poor service. I work for a full service brokerage and may be able to provide some solutions that will enable you to prevent this from every happening again. Let me know how I can help. -Tom

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11:54 am EST

Fidelity Investments excessive fees

We recently transferred our ira accounts from fidelity to scottrade and were charged $50 for each account. This fee was not charged in transfers done earlier this year. I talked extensively with a customer service representative but they would not agree to waive the fee. I am extremely frustrated and feel this is a rip-off.

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ConcernedInvestor1
, US
Sep 14, 2011 2:31 am EDT

I love the typical consumer with only a 401k that does not monitor their assets, you can not chose an investment for your 401k and then complain about an investment that you yourself have chosen. If you want to complain, complain about your company that is probably greatly limiting the investments that you are even eligible to hold at Fidelity

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M Freeman
San Clemente, US
Jun 29, 2011 5:29 pm EDT

If you haven't already, I would move your IRA from Fidelity to another institution quickly. Recently I watched my personal 401k, which was slated for "long-term slow growth" investments, whittle away daily until it finally reached a mere $5000. At that point, I closed my account and moved it elsewhere. I have daily printouts from their site chronicling this activity and feel strongly that persons there are funneling money out of accounts. If anyone else suspects them of similar activity, please contact me as I am looking into filing a Class Action Suit against them for fraud. Regards, - wfstudios@hotmail.com

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badvegan
pokipsy, US
Apr 10, 2010 7:35 pm EDT

you are a ###. all firms charge a transfer fee. this is why so many places offer to cover your transfer fees when you sign up for service. if you are this reckless with your money and pay this little attention to your investment platform, what chance do you have of paying attention to your investment? i weep for the future of our nation.

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10:07 pm EST

Fidelity Investments poor service

I have been with a few different brokerage companies over the years…my recent experiences with fidelity investments takes top honors for the worst brokerage house. Worst. Brokerage. Ever. They miss on every level.

Fidelity has one thing going for it…it’s too big to fail, so one can feel comfortable parking money there. It’s not a good brokerage house with with to do any market trading…in fact, it’s one of the worst.In brief: every single transaction you make has to be checked…they constantly make mathematical errors. Every transfer in and out of your core account has to be checked…every single stock purchase has to be checked…every commission charged has to be checked. And then it’s hours on the phone getting it corrected…then it has to be checked to make sure it’s corrected…then it’s more phone when it’s not. Their website consistenly has technical issues…charts don’t work…and quotes are often corrupt. Today their quotes were consistenly off by more than 100 points on the dow…i don’t want quotes…advertised as real-time…that are actually five minutes ago. And one doesn’t know that these quotes that are advertised as real-time are delayed five minutes unless you are comparing to something else that is accurate. If the market is busy…particularly in the first half hour of the trading day…you can be locked out of your account. When you complain to fidelity…you are advised to use the back up system…something they call & ldquo;fast”…a phone ordering platform. That would be great…except when you are locked out of your account on their website…you are also locked out of your account on the phone system…so much for fidelity’s solution.

Their order routing system is inconsistent. I have had stocks trade right through my order price with no trigger. Trading the market is hard work…when the market closes…i want to relax…i don’t want to spend hours poring over my account and it’s transactions…every little detail checked…and then spend hours on the phone getting it straightened out.

I am an active trader…i have an account worth a little under a million…that qualifies me for something called a & ldquo;premium service account”…i have suggested to them that they change the name to a & ldquo;no service account” because that’s what you get…no service. Oh, they are so polite on the phone…so profuse in their apologies…but nothing changes. One week I spoke to six different service reps from the premium service department and got six different answers to a question…the reason I had to speak with six different reps was because every time I acted on their instructions…it was inaccurate information and triggered a problem with my account…so call again…be given more inaccurate information…act again…and trigger another problem…no one at fidelity has any accountability…no one takes ownership of a problem…it’s always & ldquo;too bad, it’s your problem, sir”…put more diplomatically. I started making all my communications with fidelity through their internal email program…so I would have all this inaccurate information on record…to no avail…they are not, in their opinion, responsible for any inaccurate information dispensed by their service reps…good one.

I have, in the last three months, since all this market volatility started, sustained some large losses in my portfolio or missed some fantastic opportunities…all because of fidelity’s incompetence…i will move my account…it’s not an easy thing to do…particularly now…it takes me out of the game for several weeks while the transfer takes effect…but it has to be done…i will not allow them to destroy my portfolio any more than they already have. I suggest that anyone who is looking for a brokerage house…beware…once you lose your money…it’s too late…and fidelity will help you lose your money.

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Fidelity Customer - No More
, US
Mar 10, 2018 10:34 pm EST
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Fidelity - Horrible Service, Fraud, Incompetence, and Unethical Business Practices

Fidelity used to be great for over 30 years with them, now I hate them so much that I am transferring all my accounts to a reputable outfit that cares about customers - Charles Schwab.

Fidelity is so nasty dealing with their many, many problems, are dishonest and even lie regarding the extreme Web page unreliability. heir web page functions are always breaking down, and turmoil from bad changes on weekly basis. Really poor quality operation.

When you complain, hours and hours on phone with clerks who have no authority, are very
unhelpful, and even lie and tell you no one else is having problems. t is sickening to do business with Fidelity. They make me sick, and I am taking my business elsewhere.
Everyone I talk to and read about on blogs seems to have same problems with Fidelity and also hate dealing with them, and find them very unhelpful.

Its so shocking that they just don't care about customers anymore, and have become so dishonest and unethical

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babalouee
, US
Dec 04, 2016 1:25 pm EST

I totally agree with the others regarding Fidelity's poor service. It almost seems like they go out of their way trying to make a customer's life miserable with dealing with them. TD and Schwab are way more helpful and provide real customer service. Whatever you do, don't ever try and open a trust account with Fidelity, it's not worth the time and effort. Give your business to someone else.

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William E. Booth
, US
Nov 16, 2009 6:24 pm EST

They can srew up a 2 car funeral. My annuities are to be distributed on the 15th of each month.
They distribute to my bank account on the 17th to the 19th.
I use my debit card at a local store (1 mile from my house) and when I get home the withdrawal has been made.
They have a song and dance about why this happens and tell me I cannot change the date.
This screws up my budgeting for my regular billings.
I wish I had never got involved with them.
William E. Booth

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Alan Tuckerman
,
Nov 27, 2008 9:23 am EST

I agree - Fidelity stinks. I learned that you get what you pay for. People go to Fidelity because they spend so much money on advertising talking about how cheap and efficient it is. But there's this little thing called value - I'd rather pay more and get good service. I tried to do it myself and it was easy when the stock market was going up, but when things turned south I realized I'm not an investment specialist and that it makes sense to find somebody I know & trust then pay a little bit of money to take care of my life's savings.

It sure beats having a 'relationship' with a website and a 1-800 number!

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6:09 am EDT

Fidelity Investments responsiveness to theft of info

I received a letter from bank of new york mellon dated aug 27 stating that my personal information was "lost" (Long story). I don't do any business with them, but they are a stock transfer agent. Fidelity is my brokerage, and I simply needed fidelity to answer some questions about what info they would provide a stock transfer agent for my different accounts. I was told that the "risk department" would need to call me. I have been promised a call-back 3 times now over the course of a week, all within 24 hours, and have never received any call-back. They will happily take money and trade, but if anything is needed on their part, I have received no response. I have escalated to a "supervisor" with the same result. It is impossible for me to understand the extent of my vulnerability without the cooperation of my broker, since bnym is unresponsive and has no interest in me as a direct customer. Other brokers that I am now looking to transfer my assets to have provided the exact same information without me being a customer within 24 hours without issue.

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Fidelity Investments failure to pay late charge on check that arrived late

I have a home mortgage with a payment due date of the first of the month. However, a late charge is not imposed until the 16th of the month (at 7:00 p.m.) Because I want to leave my money in my interest-bearing account for as long as possible, I have my mortgage payments scheduled for payment on the 15th of the month.

I pay my bills with Fidelity Bill Pay, and have been paying that mortgage payment for quite a number of years now, exactly the same way. The Fidelity terms and conditions state they are responsible for late charges if payments don't arrive on time.

In May, I submitted my request for payment on May 15th. However, the payment was not made by Fidelity until May 19th. Therefore, I incurred a late charge from my mortgage company.

I contacted Fidelity and told them they were responsible for the late charge. They contacted my mortgage company and learned that my payment is officially due on the first of each month . . . totally ignoring that there is a grace period when late charges are not imposed. They told me that because I did not ask for my payment to be made before May 1st, they were not responsible for the late charge.

I explained to them that my "official due date" is not relevant, only the date when late charges were to be imposed and the date when I asked them to pay the bill. My position was that I requested payment on the 15th, it didn't arrive until the 19th, therefore it was late and therefore they owed me the late fee. They stood by their position that in spite of when the late fee was actually to be imposed, the "official" due date of the payment was the 1st, so I was out of luck.

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Wendy199
, US
Apr 22, 2018 10:36 am EDT

During your grace period with the mortgage company you are paying interest on that payment you did not make. This is stupid. Did you make enough interest on the money in the bank to off set it?

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howy61
Memphis, US
May 10, 2010 1:34 pm EDT

The period between the 1st and the 15th is a grace period.

A post mark of the 15th would not have worked for the mortage servicer either.

You gamed the system for a while and got caught.

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Fidelity Investments refuses to release funds

I operate a small 501c3 non profit, and received a stock donation worth about $20,000. I opened a fidelity account so I could liquidate the stock and use the fidelity checking account service as my main checking account.

Fidelity would not allow me to open the checking account until the stock was actually transfered to my account. Once they had the stock, the transaction to cash was easy. I also mailed in a few smaller deposited from other donors, which were credited to the account. However, once they had the cash, it was impossible to use it. Here's what happened:

I filled in the forms provided by Fidelity to open the checking account, including signature cards. Two weeks later, Fidelity indicated that the wrong signature card form was submitted, even though they had provided the form. Included in the letter was a blank copy of the same form I had submitted. Fidelity now has 90% of my operating capital, and I cannot access it.

I called fidelity, and was assured by the rep that I had the right form. We went through the form line by line to ensure that it was filled out properly, and I mailed it back in. This phone call took about 40 minutes, almost all of it on hold.

10 days later, I received the exact same letter stating that the wrong form had been filled out, and providing a third copy of the same form. Once again, I called fidelity, and was assured that this was the correct form, and that I had to fill it out again. The rep insisted that the first and second copies had been filled out incorrectly, even after I pointed out that the second form had been filled out with the aid of one of their reps. Another 40-45 minutes on the phone, and I sent the same form back in. Fidelity still has 90% of my operating capital, I cannot access it, and the non-profit is falling behind on paying bills.

10 days later, I got another letter from fidelity indicating that the signature form was the wrong form for the account I was opening, and that I would have to fill out the correct form. Included in the letter was the same form I had already filled out a number of times.

Another call to Fidelity, and after hearing the same answers (that the form on the letter was the one I should use, that it must have been filled out wrong, etc), I told the rep that I had had enough, and that I wanted to close the account. At this point, Fidelity had essentially taken over $20,000 of my money for over a month, and refused to allow me to access it in any way, despite the fact that it was in a checking account that was set up specifically to allow the non-profit to pay operating expenses. Monday Morning at 9:45 AM, the Fidelity rep insisted that the account would be closed immediately, and the check cut and sent.

The following Monday I had still not received the check, so I called Fidelity yet again. After another half hour on hold, I was informed that he check was cut Friday - a full week after the account was closed, and that it would be mailed "sometime this week". So even after the account is closed, Fidelity is hanging on to my money for another two weeks.

I'm still waiting to see how long it takes to actually get the check, and to see if they actually closed the entire account.

What is interesting here is that Fidelity was more than willing to accept my signature on the checks to deposite the smaller donations, to open the account, and to sell the stock. The only time that they would not accept my signature was when I was actually trying to write a check and withdraw funds. When I finally got fed up enough to close the account, they didn't require a signature - just a phone call.

Unfortunately, there seems to be very little oversight or regulation that makes any difference. I have not been able to find any regulatory agency that will look into what is effectively theft by fidelity.

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khglkhlhkbkj
, US
Aug 22, 2023 3:44 pm EDT

Today, as I tried logging into my investment account, I was locked out for majority of the day, and loss a dubious amount of money, that they seem to not care about.

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Shelley Beglau
, US
Mar 26, 2018 9:24 pm EDT

My employer signed me up for a Fidelity retirement plan, apparently it was an implied consent if no objection received even though I was totally unaware. Months later I was looking at my paycheck trying to figure out what the codes were and found out I had been enrolled unbenounced to me. Called Fidelity a year ago when I found out and hey basically said if I didn’t have hardship I couldn’t have my money, a little more talking and i got a manager that said I could withdrawal my money if I accepted a penalty and i said it was fine then he told me I had to send the request in writing which I never did. Now I could really use my money and fidelity refuses to release it unless I send them medical expenses(probably have to meet their qualifications), an eviction notice, proof of home purchase(can’t be complete or before paperwork starts, they want it from the bank), education expenses (only future expnses not past WTF...how’s that fair), funeral expenses, eviction notice, or a natural disaster(but only if fema writes me a paper).
To sum it up, they took my money without any consent and are holding it against my will unless I’m hurt, die, get thrown out of my house, or a tornado blows my house away! How in the name of god is this legal? If it’s not please tell me what to do!

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Brwngoddess223
Inkster, US
Mar 21, 2013 9:44 am EDT

All my accounts were closed because my identity was stolen... The person was even terminated from my employer. I had him arrested filed a complaint with the FTC. I have completed everything that is nessary to receive assistance from my financial institution. Also everything nessary to clear myself. The person was terminated and arrested however I was informed by risk management that I gave the person proximity access to my information and it was my fault that I was burglarized and victimized. I received no funds returned to me and all of my accounts were closed even my 401k. I will never in my life do business with them again and I suggest no one else too! I thank God it was only a couple thousand dollars and not 5's, 10's, and 20's and up! I thank God that I am not a senior going through this I am glad I found out early in life how much of a crook this company is! I think the should call the person that stole my identity and fund his prison account... They are the assistant to thieves!

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steven bean
Auburn, US
Jul 14, 2010 3:47 pm EDT

they are crooked theives and must be the offspring of bernie madoff..

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luyluo
Newark, US
Sep 11, 2008 9:10 am EDT

I am trying to close my account with fedelity investments. I can not afford. I tryed to take an hardship loan, but my reasons were not good enough. I have 3 young children and really need the money that i put into my account.

Fidelity Investments In-depth Review

Website Design and User Experience: The website design of Fidelity Investments is clean and user-friendly, making it easy to navigate and find the information I need. The layout is intuitive, with clear menus and sections that allow me to quickly access my account and investment details. The overall user experience is smooth and efficient, ensuring a hassle-free browsing experience.

Investment Options and Services: Fidelity Investments offers a wide range of investment options and services to cater to different investor needs. From individual stocks and bonds to mutual funds and retirement accounts, they have a comprehensive selection that allows me to diversify my portfolio effectively. Additionally, they provide access to professional investment advice and guidance, which is beneficial for both novice and experienced investors.

Customer Service and Support: The customer service and support provided by Fidelity Investments are exceptional. Their representatives are knowledgeable, responsive, and always ready to assist with any inquiries or concerns. Whether I contact them via phone, email, or live chat, I can expect prompt and helpful assistance, ensuring that my investment journey is well-supported.

Account Management Tools and Features: Fidelity Investments offers a robust set of account management tools and features that make it convenient to monitor and manage my investments. The platform provides detailed account summaries, transaction histories, and performance reports, allowing me to stay informed about my portfolio's progress. Additionally, they offer tools for goal planning, asset allocation, and retirement planning, empowering me to make informed investment decisions.

Security and Privacy Measures: Fidelity Investments prioritizes the security and privacy of their users' information. They employ advanced encryption technology to safeguard personal and financial data, ensuring that it remains protected from unauthorized access. Additionally, they have stringent privacy policies in place, ensuring that user information is handled with the utmost confidentiality and used only for authorized purposes.

Fees and Pricing Structure: Fidelity Investments offers a transparent and competitive fee structure. They provide clear information about the fees associated with different investment products and services, allowing me to make informed decisions about my investments. Their fees are generally reasonable and competitive within the industry, ensuring that I can maximize my investment returns without excessive costs.

Mobile App Functionality: The mobile app offered by Fidelity Investments is highly functional and user-friendly. It provides a seamless experience, allowing me to access my account, monitor my investments, and execute trades on the go. The app's intuitive interface and responsive design make it easy to navigate and perform various tasks, ensuring that I can stay connected to my investments wherever I am.

Educational Resources and Tools: Fidelity Investments offers a wealth of educational resources and tools to help investors enhance their financial knowledge and make informed investment decisions. They provide articles, videos, webinars, and interactive tools that cover a wide range of investment topics, from basic concepts to advanced strategies. These resources are valuable for both beginners and experienced investors, empowering them to make confident investment choices.

Performance and Returns: Fidelity Investments has a strong track record of delivering solid performance and returns. Their investment options have consistently generated competitive returns over the long term, providing investors with the potential for growth and wealth accumulation. While past performance is not indicative of future results, Fidelity Investments' commitment to research and analysis ensures that they strive to deliver favorable investment outcomes for their clients.

Transparency and Disclosure: Fidelity Investments maintains a high level of transparency and disclosure in their operations. They provide clear and comprehensive information about their investment products, services, and associated risks. Additionally, they disclose any potential conflicts of interest and ensure that clients have access to relevant disclosures and legal documents. This commitment to transparency instills trust and confidence in their clients, allowing them to make well-informed investment decisions.

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