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Fidelity Investments customer reviews, complaints, service ratings, brokerage trading account pros and cons. Is Fidelity good and safe company?

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Fidelity Investments Customer Reviews

by Troy, 9/6/2020

Pros:

Cons:

My wife and I had IRAs with Fidelity which we closed ten+ years ago. Somehow one cent was left in my wife's account. She has received monthly statements for over ten years for the $.01. She died five years ago. When I call to cancel the statements the want me to fill out numerous forms and provide a death certificate. I'm not going to that trouble for a penny so, I guess, they will just keep sending them.

by Ramesh Kapur, 8/27/2020

Pros: None

Cons: unprofessional, rude and weird people

I made a stupid mistake to entrust life savings to this company . It plays with investor’s money, make weird decision to block trading and penalize investors for venting their anger . If you ask for supervisor, you get more frustrations, for they don’t like to be bothered. Supervisors although get hefty pay-checks, they are weird, rude, belligerent and behave unprofessionally. This company is the worst and investors need to stay away as once you entrust your funds, they are in control, not you any more.

by Brandon, 7/17/2020

Pros: In the past they were ok

Cons: Worst Options Trading Platform

They used to be good but have become the worst. The customer service has become terrible. Their active trader platform is garbage now. It constantly freezes and I've had multiple occasions where positions have disappeared or been incorrect. If it were not for their large team of corporate lawyers, I would pursue suing them since they have cost me money but sure they would just bury the little guy with lawyer fees. I understand that a broker can close an option position to mitigate risk but their risk team has no rhyme or reason to how they do so. I'm sure if they commented on this they would say they have a set procedure. Trust me it's a lie. You might as well not trade options with them on Friday afternoons as they will screw with all your positions.

by Manjeera P, 7/17/2020

Pros:

Cons: Customer Service

They have a horrible customer service. Very unprofessional while talking with customer. They talk as if they are your boss and you are relying on them for their services. There is no straight forward answer from them for your questions but they reply in a very confusing manner. I absolutely hate their customer service.

by Brian Smith, 6/30/2020

Pros: Really nice but don't care enough to solve the problem...

Cons: THEY KEEP YOU OFF REAL TIME TRADING!!! My account was not trading on 'real time' for months

So, 500K+ plus acct and my Broker had not set up his VM and I couldnt get through the auto voice to save the world?
Once they responded to my email I let them know the account was not real time, they gave me some excuse but admitted it was NOT real time quotes and that that is their standard operating procedure? Folks, they want your money and don't want to help.
The manager for the Westlake Village office (Omeed Fijadi) refused to explain the reasons I want activated with real time trading and made me feel like I was wasting his time? Very ambivalent and once again confirmed they didnt really want to help.
Several other issues that could have easily been resolved with a little courtesy and understanding.
Fidelity focuses on large 401K and Corporate accounts, If you have an account under 2M you might look for a customer service friendly company that will take care of you and appreciate your business, ill take the account to TD Ameritrade, they seem to want the business...

by Steve Beai, 6/23/2020

Pros: NONE

Cons: See Review

My father invested with Fidelity via an IRA Account. He was a retired Federal Law Enforcement when he passed away on February 11, 2020. He left this IRA to his spouse BY NAME as beneficiary, even after they were divorced 15 years before he died. She was and IS the beneficiary BY NAME. He listed me, his only child, as "contingent beneficiary" in the event of the primary beneficiary's death...which HAS NOT HAPPENED. That was it. TWO names. TWO family members. I have sent letter upon letter to Fidelity letting them know that I have NO claim on this IRA, that it LEGALLY BELONGS TO THE NAMED BENEFICIARY. Almost 6 months have passed and Fidelity REFUSES to let the beneficiary know even what the amount of the IRA is, so that she can make an informed financial investment decision. This is after ALL NECESSARY PAPERWORK was filed with Fidelity....FOUR MONTHS AGO. (I happen to know, from conversations with my father before he passed away, that this IRA is worth a great deal; in fact, an UNUSUALLY large amount.) Fidelity continues to stonewall the rightful legal beneficiary of my Father's money -- almost as if they are trying to figure out a way to steal it, or at the very least skim as much as they can, ala "Madoff the account." We are a very small family and my father's wishes were made very clear as to who the beneficiary of his IRA would be upon his death. Still, Fidelity continues to stonewall and stonewall - giving phone numbers which are never answered, making excuses that make no sense, and never returning calls to the rightful owner of this IRA. Now, I am getting harassing calls for no reason whatsoever, which is making me feel like my Father died yesterday...again and again, every day, when they have no reason to call me EVER. Despicable people who should be shunned at all costs.

by EquitiesRUs, 6/21/2020

Pros:

Cons: Fidelity just ruined the app...

Fidelity just removed all content from the “Feed” tab (which could be scrolled through without logging in). This was an invaluable feature of the app because it displayed a global map of world market states (up/down), futures and open market values, equity quotes that related to your holdings and watchlists, and market news briefs/links relative to each equity displayed (including quick charts and instant quotes). Additionally, some brainiac actually decided to post a message in place of all that highly relevant content which states “To help you navigate...we’ve streamlined your client experience for the things you do most”. Umm, you mean like knowing where the markets are, where are they headed, what are my holdings doing, etc.?..Why in the world would any client want that kind of stuff immediately available?? Users of the Fidelity app are now forced to use competitors’ mobile apps for that quick access to comparable info throughout the trading day, and I sincerely hope one or more of those competitors offers a workable replacement so that we can take our trading accounts else where.

by kingmaestro7890, 6/12/2020

Pros: Great app but

Cons:

Great investing app but there’s only 1 problem. I’m talking about just how cluttered this app really is. I understand the importance of having all the data right in front of you but there’s a place for everything, except the home screen or the “feed” in this case. The feed section is just way too busy, I don’t care to see anything else but 1 thing, my accounts. I don’t want to see articles or a “guaranteed return rate” and ways to customize my news in my feed. We just need a nice, simple non-interfering, clean visual of our accounts. We don’t need to see what stocks I’m “watching” on my feed when there’s already a dedicated section to viewing all of the stocks I’m already watching, it’s a bit redundant to show me the same thing twice. Also the UI could use a bit of an update, especially if you want to attract the younger generation. Clean design, smooth animations, minimalistic but not too plain is all you need but this app is great for people serious about investing and offers a lot of help from its more than helpful representatives.

by FloridaGator1Card, 6/8/2020

Pros: Fidelity knows what continuous improvement means.

Cons:

I have been with Fidelity for over a decade now and what I can tell you is that they have literally done everything I ever wanted them to do with this app, which sums up to allowing us to do just about everything through this application that you can also do on their website. The app did not always integrate all the functions and data that we had on the website, especially when it came to research and analysis, they changed that. It’s all fully and seamlessly integrated. The app didn’t always allow easy integration with ALL of your accounts, they fixed it. It couldn’t be any easier now. The app is what it is today because a lot of people worked very hard to continue to improve it and honestly I am very thankful. They truly know what continuous improvement means and it shows. Thank you!!

by Dcgc34 pants, 5/23/2020

Pros: Good Brokerage, Need App Updates

Cons:

The good:

These features make it better or as good as the best out there.

- Easy Trading

- “Free” trading

- “Free” partial share trading

- Tax lot tracking

- Advanced charting option

- Text/Email Price alerts

The bad:

- Face ID not supported, making login from a newer iPhone ordeal. For this reason alone I’m using Yahoo for quick checks. Only come in to fidelity for trading. Even with Touch ID the app was slow to open and load.

- Watch list limits are easily met, and getting to watch lists and adding stocks are multiple clicks. Need to use yahoo watch lists to overcome my need to watch a bunch of stock groupings easily.

- For quick looks at charts, I prefer other apps for design...the process for typing in a ticker, getting a chart and being able to manipulate or pull data from the chart is too clunky. Too many clicks and the necessity to go into the advanced charting feature. Most of the time on my app, I’m not advance charting, I just want to quickly look and interact with charts.

5 stars if they add Face ID support and make charts more accessible. Watch list should be next on the list. Not sure why there are small limits on the amount of tickets you can add.

by Tom, 5/21/2020

Pros: None

Cons: What brokers or are you referring to the used car salesmen looking to scam you for a commission

Fidelity is stuck in 1960's technology as a way to make it near impossible to access your funds. For example just to add a family member (My Dad) as I am trustee to write checks against his own retirement fund. You have to get a gold medallion stamp on their form usually a bank VP then send it back by mail. Forgot to mention you first have to fill out the form and send it by mail just to get approval. Stunning in 2020 Fidelity requires you to use the US postal mail system.

by brandonestr, 5/12/2020

Pros: App’s not bad, but broker is difficult.

Cons:

It’s impossible to link my bank to Fidelity, even though I put my correct information in which is more than enough. They have unreasonable demands — you MUST show a voided check, deposit slip with your name and account printed on it, or a bank statement. I just opened my bank a few weeks ago, and I get eStatements. I don’t have checks. The deposit slips don’t list my name. So what, I can’t use Fidelity?

You need to catch up to other brokers with concerns to linking bank accounts. Use test deposits or something. And then to say it’s an additional 4 to 7 business days to process if I’m ever even able to link my bank — unacceptable.

Giving 1 star because the app is decent albeit very cluttered and bloated. Use Robinhood’s classy UI as inspiration for the future please (this goes for other bad UIs like TD, eTrade, etc as well). I have a feeling I’d like Fidelity if I was ever able to use it, unfortunately the severe opportunity cost makes Fidelity a hard pass.

by Angelina M B, 4/29/2020

Pros: Financial research GIANT! LOVE the data!

Cons:

I have tried many other Investment companies over the last 20 plus years for quality research information. I ALWAYS go back to Fidelity Investments for my research on companies, businesses and industries. Fidelity puts technology at the forefront in their business (I know from my own personal experiences with Fidelity over the years). Fidelity is ALWAYS “that” company to spearhead their business with the new advancing technologies. Funny side note...I remember working at Fidelity a LONG TIME AGO when they were one of the first companies using email for their customer accounts before any other investment companies had heard or thought of implementing that new technology. I completely trust the research information you can find on the website or with a customer service agent. I currently like to attend Fidelity’s financial webinars like socially responsible investing to options. The website is a massive resource for those who are looking...

by demDAM11, 4/18/2020

Pros: More than 50 years !

Cons:

Never, never encountered a problem, the opposite, encountered great service all that time. Had IRAs and other small retirement accounts and Fidelity helped me to learn. Took a few classes at Fidelity in Braintree MA and they assisted me along the way. Still maintain my checking account and everything goes in and out smoothly, not one snag ever. I have talked to many account reps along the way and have always been treated with respect.

I have never been told what to do, just provided with the information I needed to help me with my decision making.

After 83 years I am happy to say thank you to Fidelity as they have said “thank you” to me so often.

by GP, 4/9/2020

Pros: None, buyer beware

Cons: they are clueless

Just be aware what you're getting into
they are clueless and incompetent>(period)

by will becker, 4/3/2020

Pros: honestly NONE> confused and dazed customer service, you can get two or three answers usually wrong to the same question.... the wait times can run an hour . it is sad. period . sad.

Cons: there is not enough time or space to list the cons. . numbers on what you have change all night two times at least. attitude of so called help is usually wrong and bad.

I would NEVER recommend Fidelity for your money. I simply have had the worst experience possible. if you go to arbitration you are wasting your time. the wait times are unbelievable and the call center often doesn't give the right answer.

by Val adkins, 3/30/2020

Pros:

Cons:

Very poor, dishonest customer service. No accountability. If one rep gives bad info, subsequent rep says, too bad you had poor customer service. Lost $ right away, when steps taken to withdraw, stalling, misinformation, resulting in more loss. Had acct with mutual of america for years. perfect service and results.Employer changed to fidelity. Horrible results. They should be investigated.

by Tim Routch, 3/27/2020

Pros: Nothing good to say

Cons: No customer Service

Fidelity is scum and is the worst place to place your money and trust if you want customer service. I needed a rep to verify a purchase and was put on hold for more than two hours. I called 5 times in two days. The stock I wanted (CIMPRD) went from 10 to 17 in the time I had to wait to talk to an agent.
I complained to the agent. His response if you don't like it move your money elsewhere. They have cut their customer service staff so slim it is impossible to talk to anyone. Often the people you talk to don't know what you want. Pathetic for an investment firm.

by Paul Manoogian, 2/27/2020

Pros:

Cons:

Their preparation of 1099 forms is incorrect and inflexible.
1. I used Qualified Charitable Distributions from my IRA. QCDs are nontaxable. The Fidelity 1099 showed them as taxable; their explanation was "We don't know if the organizations are actually qualified nonprofits. [Then why did they issue the checks?] Just write the amount you feel is taxable on your 1040 Form."
2. My Roth IRA has been with Fidelity for 10 years. The Fidelity 1099 classified my withdrawal as "exception applies," not as a qualified nontaxable withdrawal, because they didn't know if the account met the five-year rule. They refused to issue a 1099 with the correct code. Their solution was that I should change the code on the copy of 1099 I file with the IRS.
Both of these caused issues with my tax preparation. Instead of correcting the 1099s, Fidelity's solution is for me to file 1099s that conflict with the versions they already sent to the IRS. (A filing conflicting with data the IRS has often triggers a probe.)

by Ruth, 2/19/2020

Pros: None

Cons: All

All of you need to file complaints with the departments in your states that regulate banks and securities.

by Doug, 1/14/2020

Pros: none

Cons: Expenses were high

I had a managed account paying 1.25% of the amount invested so about 5K annually.
I also have a brokerage account with them. I was performing between 8-12 % annually and they were a meager 4%I complained and all I got were excuses actually for a time They were losing my core money finally pulled about almost a 500k dollars out and went to Ameritrade and invested the $$ in a Vanguard index fund so so far 6 months I'm up 12% so do not let Fidelity invest your money after paying for their expertise (LOL) you'll barely beat inflation

by C Dawson, 1/13/2020

Pros:

Cons:

I am a "new customer" with Fidelity Investments, soon to be a "past customer"! Nothing but problems from the beginning, I accept fault for not understanding the process but feel I did not deserve the treatment I received from the Customer Service Reps. The majority were extremely rude, impersonal with no patience, understanding, or empathy for my situation. Exp: I talked to one rep yesterday, he complained that he had problems as well and he was working on a Sunday!
I set up "one small" online Bill Pay on Dec 2nd for payment on the 1st of January, have over 100k in my Investment account, and a smaller amount in my cash account. The payee called and said the check came back, stating insufficient funds. I called Customer Service thought I had it straightened it, was told the money was available, and to resubmit the check, Payee called said the funds were still unavailable. I was beyond embarrassed, to top it off I was charged 12.00 for each overdraft! I finally paid it through my Wells Fargo account and will be moving all my funds out of Fidelity Investments within 24 hours.

by Don S., 12/21/2019

Pros:

Cons: Horrible communication and did not deliver as promised.

Fidelity sent $430,000 checks via regular United States Postal System with no way to track and a 7-10 day delivery period. To be placed in my outside mail box, outrageous. Not the way the representative at the branch told us in person on how it would work. The representative at the call center have a hard time finding the transaction and then justifying or even knowing for sure about how things are done. This definitely determines my future investments with Fidelity. My family will close and sever all relations with Fidelity.

by Tom, 12/11/2019

Pros:

Cons:

A definite decline in Fidelity's customer service in their Annuity branch. Submitted request for a return tel call from a annuity Rep. Never came. Tried a direct all and after waiting for a long period of time told a rep if he could have a certain Rep whose name I will not disclose to return my call. Again never happened. What has happened.? A few years ago this would not have been a problem

by Don C., 11/27/2019

Pros: Very nice till they get your money

Cons: Customer Service Reps stink, one say one thing the next cotridicts the last. SO which was lying ?

On 11/22/2019, I called Fidelity to transfer my Mother's IRA to them. The Rep, told me to fill out the ONLINE transfer, and walked me through the forms. I also requested BOTH the account transfer AND a Durable Power of Attorney form to be sent by mail.I was told later NOT to return the Paper copy because this would cause confusion. Fidelity rep said online form is faster. ON 11/23/2019 I sent the Power of Attorney form by mail. On 11/24/2019 I was told they REQUIRE two more documents because the account is CLOSED. They wanted a copy of my Mother's SSI card. AND they had me fill out a W-9 Tax Form which again I did online as directed. I called 2:49 on 11/26/2019 to follow up on the account being closed and I received confirmation via the Secure Message Center online the SSI information was received.I NOW see the account is FUNDED, the transfer has occurred.During this call the rep, "Contacted the back office" to confirm all was now again in order, And ask why the account is STILL closed. The rep, Glenn came back on the phone and I was told all the forms have been received, and ARE PROPERLY filled out. This morning 11/27/2019 I logged onto the account to check the status, since the paper work WAS received and in order, funds in the account, and to check if the Power of Attorney was in force. UPON logging on I panic ed ..... $0.00 Balance ? O-M-G were the funds stolen ? What happened with my mother's money. I called Fidelity. today's rep. kept checking with "The Back Office". Who were now, providing information COMPLETELY opposite of all I had been told in the days before. After a LONG time of asking for a Supervisor or Manager, finally I was connected with a manager. I was told, he can not discuss any matter relating to this account. UNLESS he speaks with my Mother. She is 89 years old, has Altzhiemer and does not understand the stupid questions they ask.
Bear in mind Fidelity Rep. was well aware I was doing this for my Mother. Pointed out as I filled out the forms, HER name, her SSI number, My NAME my SSI number. Then a MANAGER says I can not now access this account.

This Manager REFUSED to answer what happened to my Mother's money, and in FACT locked the account.
SO, Fidelity takes upon themselves to make judgements. Funny, all was normal UNTIL the account was funded.NOW Fidelity takes it upon themselves to hold her money and to not answer any questions. I HIGHLY SUGGEST you think twice about turning YOUR hard earned money over to Fidelity, I certainly have NO trust left. A Required Minimum Distribution (RMD) must be taken in December, I also explained this IS a time sensitive matter. Mailing time involved.

And I have received NO service as of now whatsoever.

Please THINK before YOU turn your money over to Fidelity. Once they have it, they sure change their tune. Very helpful to get it, then good luck fighting with Fidelity.

Don C.

by Anonymous, 11/22/2019

Pros: None

Cons: Fidelity customer service is cluless,biz processes not reliable

Once you have told by Fidelity that your account is terminated,it is very hard to get the account closed. This is, Fidelity terminates the account but keeps the account active and allows the account holder to use the customer service web site. This is a security flaw,because any customer,who doesn't have a real active account (terminated is not the one) should be prevented access to this internal system. It seems as Fidelity doesn't pay much attention to terminated accounts with 0 balances. These accounts are in this register for no reason.

For some reason the customer service ignores customer requests to close the account. This means,the customer him-/herself would like to follow a normal bank activity by asking to close this terminated and useless account. But nothing happens. The customer service does nothing.

Fidelity keeps sending emails and different information even though has itself let know (by sending a letter) that the account is terminated.

What is the idea of not closing accounts,which are terminated by Fidelity and asked to be closed by the account holder?

It seems as the information is not delivered from one department to another and especially to the Fidelity customer service. This indicates insecure business processes with uncontrolled practices. Cannot find any other explanation to this weird behavior.

by C-Simian, 9/23/2019

Pros: They love you when you arrive

Cons: They dump you when you question their flawed algorithms

We were with Fidelity for four years, doing fine with tax-deferred and brokerage accounts. Then I made the mistake of questioning the catastrophically inept "Retirement Score" system that they constantly insist one work with. It is entirely faulty and incapable of giving accurate guidance.

Three weeks after I informed Fidelity of my opinion, we received an official notice that our brokerage account would be terminated. I asked my broker what was going on and she said that I had made "inappropriate comments" as if I had sent them kiddie porn or threatened to dox them or something. Totally bogus. I just told them their software was nonsensical and worthless. Good judgment on my part.

Because of contracts, they could not negate my retirement account, but we had to find a different home for the brokerage account, which still is something of a problem. Nonetheless, I can affirm that Fidelity is as thin-skinned as Donald Trump and just as narcissistic. They are also no better at their judgment than they were in the past.

And yes, I have been contacted by Fidelity after that, asking why I removed the brokerage account from their management. I'm sure that at this point I could open up another brokerage account and no one would say a word. But their breath-taking incompetence motivates me to go do business with Vanguard.

I can't imagine what they think they are doing with other peoples' money.

by Scott, 9/9/2019

Pros: Eager to take you funds.

Cons: dont follow yuor directions, dont disclose all road blocks, almost impossible to contact once transaction has been completed - almost push you out the door.

Fidelity is very difficult to deal with from contacting a pulse to the agents capable of performing what you need them to do,
The call in centers have poorly trained service reps and not at the knowledge level that i want handing my funds.
They love to advise of the penalties if any so they scare you into leaving your funds with them and the lack of access to your MONEY , well that's how they make there living. living off of us.
if you need quick access to your money in retirement, Fidelity is not the company to deal with, your bank/credit union have better options you just have to look.
Just be ready for nothing but stress when calling Fidelity

by David, 7/25/2019

Pros: Good information/news

Cons: Interefere in customer accounts ,cry at evry foul ,sell stocks 1 day after bought

My patience has just run out with Fidelity
The first issue I had was that they allow you a margin account,(which is great) They offer you a additional daily margin amount for day trades.
I would buy and sell stocks in same day and they red flagged me for being a pattern day trader.
I am confused ,you offer me a daily margin amount ,I buy and sell in same day ,and you flag me for being a pattern day trader and shut my account down for 3 months.

The last straw came just two days ago, I have a large trading amount and it is also a margin account.
I made a very large purchase on a particular stock, at say 170 while it was consolidating.
I used my money and I used Fidelity money as leverage which I legally have the right to do.
The stock was consolidating and was ready to explode,however after one day Fidelity sent out a Margin warning stating they were going to liquidate my position. (Margin should be for 4 days)Evidently the clowns at Fidelity did not feel comfortable with my position and were going to take it upon themselves to sell my position because they did not feel comfortable.
That is Rule No.1 - Do not trade on emotion. I lost nearly $200,000 because my position went up big but Fidelity took it upon themselves to sell my position on the 2nd day of Margin because they were scared.
The stock peaked at 38 dollars from where I purchased however I was no longer in it because Fidelity and the clowns or what they call Margin Specialists sold my shares . I was even on my account and was even up $1000.

They have no patience and have no right to infiltrate my account and sell my shares while I have not lost a penny .

They do not know what they doing. The clowns have done no DD on my position have no idea that earnings will be coming out and it is going to run up to earnings. I made the correct decision and was prepared to make alot of money and because of Fidelity's negligence and ignorance as well as having the lack of balls to let the trade play out. Not all trades are winners but when you have a position that is going to be the big one and Fidelity takes it upon themselves to sell your position prior to the explosion in price ,it is the last straw.

I have had enough with the incompetence and there clowns in the office who have never traded and are going to take it upon themselves to liquidate my position for no reason other than the fact that they have no balls.

F Fidelity I lost $200,000 because they want to offer you margin but want to tell you what securities to buy.

Big trades make Big profits and Fidelity stole $200,000 out of my account.
I am finished with this shit show

by Rioh, 6/28/2019

Pros:

Cons:

My Fidelity story of misinformation, erigance and massive inconvenience started four weeks ago.
I am preparing for an extended summer stay in Canada. During my preparation I discovered my debit card was due to expire wile on holiday. I reached out to Fidelity for assistance, I called Fidelity and the support person's solution was to change my "mail to" address to my summer address so my new debit card would be sent to me at that address.
I was initially pleased with the fix untill I tried to transfer money from my IRA to my cash account and got an error message. I called Fidelity. Fidelity support said because my mail to address was in Canada that I was now a Canadian and by law was not allowed to have a cash account with Fidelity.
Does anyone see a problem with this? Well I do because I am now forbidden to use my cash account. All I can do is wire money from my IRA to my credit union account. I also winter in Mexico does that make me me Mexican, according to Fidelity it does.
I have been with Fidelity since 1985 I am now retired. I own property in Oregon, Mexico and now Canada. But Fidelity seems to have a problem with my retirement plans and is blocking me from my cash account. I guess I'm a MexiCanAmerican, a nationality not recognize by Fidelity.
So FU Fidelity your policies are hostile to the small retired former investor.
May I recommend TIAA my other retirement institution who have been nothing but exceptional.

by Chris, 5/19/2019

Pros:

Cons: Condescending and UnHelpful

I went to the local branch Tuesday, a young guy was on the computer talking to his IT department, never acknowledged me. I explained that I needed account information but he wasn't interested. Another guy came out of the back and treated me like I was a nuisance. He told me my money had been transfered to Wells Fargo. I asked him to print out this information and he refused. I called Wells Fargo and had to speak to 9 people before I learned that he had given me misinformation and the money was transfered to Merrill Lynch. Fidelity did nothing to help me and when I told them that I had cancer and needed to get my affairs in order, it meant nothing to them. They should be ashamed of themselves. I am a nurse and I would never treat a patient or family member the way they treated me. I am going to report them to Fidelity management.

by Wooten Epes, 2/11/2019

Pros: None

Cons: Money held unusable for a week.

They take money and do not allow it used for a week. A scam! Add up the thousands of accounts and they use our $ and we get paid $0.

by Jeannette Marie, 1/25/2019

Pros: Unfortunately there are non

Cons: Please see below

Phone call after phone call to attempt opening an account and moving an initial amount of $50K to be increased to $200K. Their online system continually did not allow me to log in instead requesting I call. Each and every time I spoke with a rep they assured me all was fine and I could transfer funds and begin trading. This never happened. Fortunately their system had yet another glitch and my funds were never transferred. The last person I spoke with stated the account had been closed with no reason or explanation.
"We do not have to give a reason and can close an account anytime with no notification".
Be forewarned and do business elsewhere.

by Keith bockmann, 1/23/2019

Pros: Make you lose hair if that's what you want.

Cons: They really truly are incompetent like others say.

They mailed my checks to the wrong address. Then after telling them AGAIN my address they said they would overnight the 5k check instead they spent 32 dollars to overnight a check for 40. They sent them to an address 4 states away! How are these people still in business? They cant even do a simple task I have to drive 1200 miles there and back to get my money because they literally cant figure out how to fix their problem.

by Micky, 12/27/2018

Pros: Low Fees

Cons: Really long telephone wait times

New Customer to Fidelity, needed to get my 2018 RMD, was told I could request it online but apparently this is not true. Every phone call takes at least 45 minutes on hold. Way to long for me I am switching to a company that cares about customer service.

by Matthew Lestina, 10/20/2018

Pros:

Cons: arrogant, disrespectful of customers

Been with Fidelity for 20 years. I got annoyed at their exhaustive list of personal questions I must answer every time I called in. As a result, they sent me a letter stating that they are closing all of my accounts, and that they reserve the right to do this for any or no reason. Caveat Emptor!

by no, 10/5/2018

Pros: none

Cons: a lot, customer service, handling your money, secure communication

Three weeks ago I decided to open a trading account and change my current broker. So, I thought it will be easy like any other online broker Ally, E-trade, etc. But actually, it wasn't. My account was locked after a day. I had to call and I did. I called more than 10 times, every time for an hour behind a line, and every time everything was set to zero. I needed to explain the past phone calls with the previous agents. I faxed the requested documents more than 8 times. They never received it while I had the confirmation of the deliveries. I finally walked into one of their branches and handed over my documents. When I called the day after to unlock my account, they told me that things are moving in the right direction (not before giving a few minutes of summary where things were left off)and I should have my account is opened soon. An hour later, I received a call and they needed another document (they could have told me all in once). I faxed it. I called them the day after (an hour behind the line) and they told me that all the documents are somehow not readable and I need to send them again. Which is insane considering the precious agent confirmed they are okay. So, this is one of most insane and stupid experience I had with any bank accounts I had open with other brokers, Forex, etc.
Stay away from them

by John R, 9/16/2018

Pros: None yet

Cons: This company cost me a lot of money, time and frustration due to their incompentance.

I have a little over 7 figures invested with Fidelity and so we have a so called Portfolio Specialist (Matthew Faubion)
who is supposed to provide advice and review our portfolio quarterly. Well it's no secret the entire market has been on fire this year and Matt has made me ALMOST 1.4%! What a useless individual and company!!
We are currently shopping for a real wealth management company as I make much more than that with my money in two on-line banks (1.8%)! I would NEVER recommend this company to anyone and warn everyone I know to protect their money and stay away from these incompetent people!!!

by fidelity sux, 7/10/2018

Pros: Ned is still alive that old bag

Cons: abby and kathy worst managers

Fidelity is a green monster of pure hell. They hire kids out of highschool to give people advice and service. They have gotten so cheap that now it takes over 30 minutes to get a hold of a so called rep in the 401k world of la la la. Once you get there, you have to go through their stupid verification after being trf'd 3 times. I do not understand why all the cheap investors invest money with them. They are such a cookie cutter outfit that does not better than the market itself. Go to Vanguard and invest in cheap funds or their etfs.

by Rachel, 3/20/2018

Pros:

Cons:

I literally get more of a return on my checking account with my bank than I do with my 401k. Which is pathetic.

by Pau, 3/13/2018

Pros: Lot of options

Cons: Bad technology, things never work, poor service

As a Fidelity active trader, there have been times where I just cannot access the market. Fidelity will publicly never acknowledge their failing for fear that people will find out the truth. You have to contact their customer support, which itself is awful, to put in trades. What, this is not the 1990s. Stay away from them.

by Dan F, 3/12/2018

Pros:

Cons:

They lost, (deleted) my retirement account, it took Fidelity 5 months to find it, then gave me an incorrect amount. I told them it was too much but they insisted and verbally guaranteed it was correct due to a law suit settlement. Since I did not want to have any more problems, I withdrew the funds. A year and a half later they contacted me and said an audit detected the amount was incorrect and they wanted most of the money back. It seemed funny when I was trying to find my account, every time I called I had to talk to a different person. When they wanted a refund from me, they gave just one person to talk to. When I mentioned that maybe I should talk with my previous employer, they told me not to contact them because Fidelity was the company's retirement account manager.

by Dave F, 2/27/2018

Pros:

Cons:

I transferred my HP 401k account to Fidelity managed funds business January 2018. I discussed a strategy for minimal risk, and answered their question of Risk Tolerance with a 3 out of 10. That did not translate into what was purchased for me in my Fidelity managed account.

50% of my portfolio was invested in funds with a Morning Star risk rating of 6 which accounted for 85% of my loss! Why ask what your risk tolerance is? This is inexcusable on Fidelity’s part considering this is the exact situation that I wanted to avoid and specifically discussed with Fidelity.

Although promised the Managed funds person would contact me, that too never happened as promised. I was charged an advisory fee for this poor customer expectation management.

I closed the account.

by George lenkowitx, 2/27/2018

Pros:

Cons:

My investment was grossly mishandled by the all aspects of fidelity management. I would not recommend this company to anyone.
They cost me severe thousands by not properly investing my managed money in a timely manner.
Plus there is always a long waiting time on phone.
Since The error was totally a management error, they refused to recognize that gross mismanagement of my funds and correct their mistake. Therefor I am pulling all my money out if the company.

by Ben Fauk U, 2/23/2018

Pros: none

Cons: wont work with you. It is your money, you would assume that would mean something.

I might quit my company just to end my relationship with Fidelity.

by Drakkor, 2/16/2018

Pros: None

Cons: Idiots

Well, My employer uses Fidelity for our 401 k at work. I had some hard times due to medical issues and medical bills where I missed some work and got behind on my mortgage. I sent them ALL the paperwork three times for a small hardship withdrawal and they never contacted me saying they needed updated paperwork. I had to log on and hunt for the reasons that they never approved it ! Their own agent is the one that told me the amount was correct and SHE decided how much to request! I sent them the warning and DEMAND letter from my mortgage company and they say the amount requested is not right! Well, why don't they just adjust the damn amount then? They are playing games with me and they better pray to God that I don't lose my house over their BS. If I do, They WILL be sorry!

by Chuck Grandmason, 2/13/2018

Pros:

Cons:

Worst customer service I’ve ever experienced.
Reps are always nice but accomplish little except providing excuses for issues.
I have a traditional IRA and a Roth IRA, there are issues every year with deposits and moving funds.
In the process of deciding which investment company to move our accounts to.

by nk, 2/12/2018

Pros:

Cons:

This company lies to you and their customer service sucks. I had a managed Traditional IRA account, and I wanted to cash out my managed Traditional IRA account and move it to a regular Traditional IRA . I called on Monday and told them I want to do this. They told me it will take one day. By Friday nothing had happened and mean while I lost $4k. On Friday they told me it be done by next Monday. Well today is next Monday and nothing has happened. All I wanted was simple transaction.

by Bill McAndrew, 2/6/2018

Pros:

Cons: Trumpian - autocratic

Long time customer -got obscure letter banning trading - cannot provide the services I require. Refuse providing a specific reason. Active Trader - Platform freezing so much - must have serious processing problems Schwab is far better- no fees re: ETF holding period.
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by Perry, 2/6/2018

Pros: None

Cons: Website is terrible. I opened an account because I wanted better that Ally. WOW was I wrong. Fidelity makes Ally look really really good.

Stay away.

by stella, 10/5/2017

Pros: Some of the reps are kind but mostly are not.

Cons: Incompetent. Some of them and especially supervisors are rude.

Regret to be their customer. Going to move to E-trade

by W A Jones, 9/29/2017

Pros: Low prices. Lots of offerings.

Cons: Lousy online customer service.

I've had accounts with Fidelity for many years. Until recently, I didn't have any issues with them. Recently, I've noticed that their online customer service is a joke. No obvious way to contact them personally, although I've emailed and telephoned them in the past. Now all I get is the opportunity to type a question to some really stupid computer that seems incapable of understanding the question . They do offer the typical FAQ's section, but its extremely limited and I didn't see where I could ask my own question.
Why call it Customer Service if actually contacting them is so difficult and there is no actual "service"?
Just for fun, I googled Vanguard. Up popped all kinds of telephone numbers. Wondering if I shouldn't have stuck with them.

by CJ Williams, 8/22/2017

Pros:

Cons:

I am a disable military retiree who recently began working with a company partnered with Fidelity Investments (to provide their insurance). I told them from the beginning that I have insurance through the military. And when a short time later they pressured me again and told me they had automatically sign me up for it, I immediately call them to tell them that I don't want it and that I am not interested. A short time later I noticed that I was having money taken out of my pay check going to Fidelity. And then when the prescription medicines I need for my disability suddenly came with a huge charge (that had NEVER been there in the past), the prescription company said that my new insurance with Fidelity didn't pay it later me the military company, and that they were forced to use them since Fidelity had gone behind my back and told the company that they were my insurance even though I told them flat out that I DIDN'T want them. Well , when I called them today to discuss this they told me that it's too late to cancel the insurance (that I said from day one that I didn't want) and that I was stuck with them until 2017 when I could unenroll at that time. And when I said what if I didn't pay for the insurance, they said I didn't have a choice and that they would just continue to take it out of my check without my permission. Again, I am already insured through my military retirement! So now I'm stuck paying every pay check for something I don't want or need and now I'm forced to shell out a lot of money for prescriptions for combat related disabilities that had been provided for free with my other insurance that now I'm either forced to pay for or just to go without. While I guess I'm stuck in this very bad situation until 2017, but if they think I'm just going to roll over and take it, then Fidelity doesn't know me! I'm going to make sure that EVERYONE I can tell is warned about this DISHONEST sneaky underhanded company (Fidelity) using every source I van find (print and social media) and word of mouth. No one who knows me would ever call me a mean spirited or petty (or even a complainer), but I think Fidelity needs to learn not to mess with U.S. combat veterans and military retirees!!!

by Low Fees wanted, 8/7/2017

Pros: 4.95 trades on the back of high fees from employer plans

Cons: High Fees for Employer Accounts, High Expense Ratios

If you have a choice, stay clear of Fidelity. They are too expensive for employer spon plans and they know, you have absolutely NO options. We are being charged for 2-accounts quarterly for 1000s of employees. And, the expense ratios for the Mutual Funds are too high for funds that do NOT compete well. Mutual fund turnover rates are extremely high as well.

They will nickel and dime your retirement portfolio.

by Ted Cummings, 7/10/2017

Pros:

Cons:

Absolutely horrid customer service. I tried to deposit IRA rollover check only to be informed that my existing Fidelity IRA account had been closed without warning and without notice apparently on the same day that my IRA check arrived.

When I called back seeking some sort of explanation, the rep read out to me all of the brand new "notes" written into my account that same day which amounted to 'do not service this client' and 'do not provide him with further information'.

Very strange and very unprofessional.

by Jeffrey Semonian, 6/25/2017

Pros: The 2 Brokers that left voicemails both lied when they gave me a deadline to send in margin monies...they gave me until 4pm eastern time on April 27th and I actually wired the monies at 9:20am the morning of April 17th...they had just liquidated my shares CANCELLED my account...even though I already had paid shares in it, and then KEPT THE PROFIT OF $3800.

Cons: tHE BROKERS ARE EXTREMELY INCONSISTENT WITH INFO THEY GIVE ME...AND THEY CLOSED MY ACCOUNT EVEN THOUGH i HAVE PAID FOR SHARES IN IT....VIOLATION OF sec AND finra.

Fidelity treated me like a piece of dirt after closing my account, which by the way is still active and I have paid shares in it with an active account number. I cannot even sign in and see the progress of my shares. They lied to me when they gave me a deadline of April 27th, by 4pm eastern and when I sent the margin monies the morning of the 27th...they had CLOSED my account when SEC and FINRA regulations and Fidelity's own rules state the worse they can do is FREEZE YOUR ACCOUNT for 90 days....so when the $8,575 I wired that morning hit the account they had just closed it AND THEY WIRED THE MONIES BACK TO ME. WHAT COMPANY SENDS YOUR MONIES BACK TO YOU? What company closes your account even though I have paid for shares in there and the account is actually active. I do not even have computer access to my account. They then stole my $3800 profit and I got a great fill on the XIV...and lost future profits of over $3,000. Sara Hogue, a very nice supervisor there said that my broker DOCUMENTED THE RECORD, that my deadline to send in margin monies was 4pm eastern the 27th. THIS IS TRULY RUTHLESS, unethical and yes, against SEC regulations. The people I wrote to said basically tough luck. One of the supervisors recently called me (and this is all recorded) asking me to "please take my business elsewhere and to liquidate the current stocks that I have") I contact many supervisors to get any email address of anyone and they all said THEY REFUSE TO GIVE OUT ANY EMAIL ADDRESSES!

by Roger Goddard, 5/31/2017

Pros: It was the "Go to site for clarity and Fidelity"

Cons: It has turned in to a Junk status operation concealing data

I have £190 K invested with Fidelity over 20+ years. I used to be able to see how much I had in a fund and if it had gone up. Now it is just a joke concealing performance data. Now all I want is to get out.
I have used Selftrade but that has now become pathetic. I might try Barclays.

by James, 5/8/2017

Pros: None

Cons: None

Tried to open an account on Sunday. Nothing but errors. Rep said tech would call today. NEVER HAPPENED. Called again today. Rep immediately blamed my computer. He then found out that there is a problem at Fidelity. At the end of the conversation he said try back in a week. How can I trust Fidelity with my life savings when the best a rep can say is Try back in a week? It's obvious they just don't care!

This is a total breakdown in leadership at Fidelity!

by Shanon, 4/18/2017

Pros: They are big on diversity and hire a lot of gay people at Tysons, VA location.

Cons: If you are not gay, they will find excuses not to help you and tell you to go on line. Take a gay friend with you who is a client and see for yourself.

The desk attendants are really sweet when tell you to go on line to find out more. They know exactly what they are not getting paid for.

by JCOHN, 3/20/2017

Pros:

Cons: POOR CUSTOMER SERVICE, POOR ORGANIZATION AND POOR ISSUE RESOLUTION

BOTH THROUGH ON-LINE AND CUSTOMER REPRESENTATIVE I WAS UNABLE TO OPEN AN ACCOUNT BECASUE THEIR THIRD PARTY VENDOR SYSTEM FAILED TO IDENTIFY THE CUSTOMER. ALTHOUGH FIDELITY HAD THE INFORMATION AND IDENTIY FOR THE LAST 20 YEARS ON ANOTHER ACCOUNT, THEY (1) BLAMED IT ON ALLEGED MISINFORMATION PROVIDED BY THE CUSTOMER, (2) INFORMATION IN THE POSSESSION OF A FIDELITY COMPANY WAS A SPERATE COMPANY AND THEREFORE THEY CANNOT USE IT. CONSUMERS DO NOT CARE TO BE THROWN UNDER THE BUS WHEN FIDELITY'S SYSTEMS DO NO OPERATE PROPERLY AND THERE IS NO EXCUSE FOR A FIDELITY COMPANY TO STATE THAT THEY ARE NOT PART OF THE SAME ORGANIZATION. A COMPLETE WASTE OF CLOSE TO AN HOUR. I HAVE DONE BUSINESS WITH MANY OF THE LARGE INVESTMENT HOUSES AND WILL NEVER DO BUSINESS WITH FIDELITY. PERHAPS THIS IS ONE OF HTE RESAONS FOR THE DRAMTIC DECLINE OF THEIR BUSINESS RESULTING IN THE RECENTLY PUBLISHED LOWER TRADE COMMISSIONS. FIDELITY FIX YOUR PROBLEMS AND YOU WON'T HAVE TO MAKE EXCUSES.

by nikhil agarwal, 3/2/2017

Pros: Easy to trade, all features

Cons: IPO is not transparent

"Hype vs Truth" - SNAPCHAT IPO. My experience at fidelity.

I had expressed my interest for the SNAP IPO (for the 6th time in 6th company) and they did not allocate me a single stock. When I contacted them to know the cause, they said they have an algorithm to select best customers with highest revenue, highest assets at fidelity. Which I didn't qualify. How can you compare assets of 29 yo individual to assets of a company or a 50 y.o. billionaire? Look at my YOY rate of return . You should qualify me based on return I generate. Why do you allow me to express interest first of all, if you think I won't qualify? It's a big scam. You are making rich more richer. At the end the representative asks me to put a limit order today - As if I am a fool, I will trade stock on first day when bear and bull both are highest and making the stock super volatile.

by IC, 1/16/2017

Pros: Good funds

Cons: Customer service is DISservice

Horrendous customer service. They made a mistake on a 401k distribution and acknowledged the error. However they are taking forever to correct it and in the mean time the problem is getting more compounded because of tax reporting and the calculation of the new years minimum mandatory distributions. I am helplessly waiting.



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