Fidelity Investmentsexcessive fees

P
This review was posted by
a verified customer
Verified customer

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.

Responses

  • Co
    ConcernedInvestor1 Sep 14, 2011

    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

    1 Votes
  • Mf
    M Freeman Jun 29, 2011

    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, - [email protected]

    -1 Votes
  • Ba
    badvegan Apr 10, 2010

    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.

    1 Votes

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