Fidelity Investments

Rating

User Reviews

Just to add ... make sure that your brokerage is rock solid financially. That is, on the next meltdown, you don't want to have to worry that your funds are in trouble at a smaller or more risky brokerage, even if you do have better commission rates and trading tools. Fidelity is huge and as far as I can tell, isn't involved in a lot of risky trading shenanigans or credit default swaps. Their Active Trading platform kind of sucks IMO, but maybe it will get better and it really isn't that much of a factor, even if you do some day trading (unless you are doing like .05 stops). You might be able to negotiate the commission rate down a bit via someone in the Active Trader group but still, $7.95 isn't bad for 5000 shares of a $3 stock. Their customer service is second to no one and the trade executions are excellent. The no-fee ETF's are great, as you can scale in to very small incremental amounts and then later, if you want, get out of the whole position into strength, even within the 30-day restriction, with only a $4.95 "penalty." If you want to have a whole bunch of cash there, they offer multiple (7) bank FDIC insured accounts, such that if you have more than $250,000 (which is all the FDIC covers), they automatically park it in different banks. Anyway, I have my funds there and sleep well at night.

&nbsp heywally &nbsp 2016/10/06 16:15 &nbsp &nbsp

As a former employee of corporation with a Fidelity 401K, I contacted Fidelity on June 20, 2001 to have my 401K rolled over into a Fidelity Rollover IRA. With the help of the Fidelity representative, I completed an application, setup the above referenced account, a note was put onto my account to transfer it to the Rollover department and was assured that the 401K was resolved at this point. I received an Investment Report in the mail with a $0.00 balance. On August 6, 2001, I received a check with the federal and state taxes removed from my Fidelity 401K. The Fidelity 401K had not been rolled over into the Fidelity Rollover IRA. I called Fidelity and spoke with Troy Vanderburg, who very matter-of-factly told me that there was nothing he could do and that I should call another department (after being transferred twice to talk with him). I had to pay federal and state taxes on my 401K. I wasted my time with the phone calls, applications, setting up accounts, etc. with Fidelity. I could have just waited to receive a check from my 401K and deposited it.

&nbsp Linda &nbsp 2016/10/06 16:32 &nbsp &nbsp

Fidelity Investments is changing their fee structure effective September 10, 2001. Included with this change is a new minimum balance fee for any Fidelity mutual fund with a valuation of under $2,000. The fee is only $12/year, but there's an important principle here. The minimum investment (for non-retirement accounts) is typically $2,500. Some funds - like all of the sector funds which I invest in - charge a 3% load on the initial investment. The value of the fund depends on how well Fidelity invests the customer's money. To charge a fee for losing over 20% of their customer's investment is outrageous. In the summer of 2001, I invested in 5 different sector funds, with the minimum $2500 each. As the market deteriorated, most of those slipped below the $2000 minimum. The fee will be assessed in November. If the market does not improve, I may have to pay $12 for each fund, as a result of Fidelity's losing so much of my money. My choices are limited: I can increase my investments, to get the valuations over $2000 each. I can liquidate my investments, and maybe consolidate some together. Or I can do nothing and pay the fees. I am outraged, and I am closing my Fidelity accounts.

&nbsp Doug &nbsp 2016/10/06 16:32 &nbsp &nbsp

On https:/fidelity.billpay.com, it defines date sent as This is the date that the payment was actually sent to the payee. This is not true. I had a payment from online bill pay with the date sent listed as 12/23/2005. It was actually sent on 12/27/2005. The Web site lies. This will cause my end of year HSA insurance contribution to arrive too late for disbursements to be made before the end of the year

&nbsp James &nbsp 2016/10/06 16:32 &nbsp &nbsp

I work for General Motors, which uses Fidelity to manages its retirements, life insurance, health benefits etc. When I transfered from Delphi to GM in June 06. It took Fidelity five months and numerous phone calls to get my health insurance active. Every time you call you talk to someone different and you get different answers from everyone. My benefit rep. at work was calling and so was I. Until I got upset this problem did not get corrected. I had to call everyday for a couple of weeks and keep calling doctors about unpaid bills. Now on Jan. 26, 2007 they have succeeded in cancelling my health benefits. Which was discovered when my daug. tried to go to the doctors this morning. I called Blue Cross and was told Fidelity cancelled on the 26th. Fidelity can't figure out what happened. Who knows how long it will take to get corrected. This causes doctor bills to be paid late not to mention the frustration of dealing with such an incompetent company. Numerous people all over are having difficulty with this company. Benefits being cancelled, years of service records incorrect, people told they can retire then called back to work because of Fidelitys inadequate records or negligence. One guy waiting for disability pay was told on different occasions that needed papers where sent in the mail which never arrived and the next person he talked to tells him nothing was sent because they need more records from him. So who do you believe? They sound sincere and knowledgable when you talk to them but the results never pan out. No one at this company seems to be on the same page. It is extremely frustrating to deal with them because you never know whats real and what isn't. The information and benefits this company manages are important and alot of peoples livelihoods depend on accurate records and timely service.

&nbsp Jennifer &nbsp 2016/10/06 16:32 &nbsp &nbsp

I am a 73-year old senior citizen. To state briefly, Fidelity failed to withdraw an automatic year end distribution from my IRA account for the year ending 2006. As a result of their default I was required to pay a substantial penalty to the IRS. Fidelity has never disputed their default and, in fact, suggested that I have a memorandum prepared by an accounting firm with respect to the extra costs incurred and will incur in the filing of taxes for the years 2006 and 2007. I complied with their request. All expenses itemized was a direct result of Fidelity's default. Fidelity has never disputed any of the charges in that memorandum or the preparation of it. I have complete documentation and exhibits supporting this claim against Fidelity and would be more than willing to send copies to anyone who would take up this cause on my behalf. Fidelity has failed to meet its obligations to reimburse me for the costs and expenses I have incurred as a result of their default. My complaint has been registered with Fidelity. As a result of Fidelity's failure to effect an automatic deduction from my IRA account for the 2006 Minimum Required Distribution I have suffered total expenses in the amount of $19,193.00. Fidelity is ignoring this entire matter knowing that I do not have the means to bring litigation against them in order to resolve this dispute. I implore that someone will take up this cause on my behalf.

&nbsp Jane &nbsp 2016/10/06 16:32 &nbsp &nbsp

I had a million dollar account with Fidelity Investments and they sold me over $300,000.00 worth of securities that went into bankruptcy. I lost over $300,000.00. I complained to them and they just said that there is risk to investing and futher stated that they would take the positions out of my account for free so the statement did not look so bad. Then they have the nerve to advertise that moving your money to Fidelity Investments is a smart move !!. My retirement was ruined and I had to sell most of my Real Estate to survive.

&nbsp Gary &nbsp 2016/10/06 16:32 &nbsp &nbsp

I purchased this warranty thinking it would help in care repairs but they will have the dealership talk about the warranty with the scare tactic pitch. Actually they hardly cover you at all. For example, my service guy mentioned that having a cv boot rip is important but its not covered but if the axle breaks and the car becomes a danger to drive then they will cover the more costly repair. It doesn't make sense. I am not happy with this scheme at all. My fiance bought this extra warranty because they used the scare tactic sales pitch. Are there any honest companies anymore? I purchased a Platinum warranty but I'm still having to pay for repairs. I don't get it. Furthermore we want out of the contract ASAP. Our contract says we are bound to the deal as long as we own the car. What is this?

&nbsp Kurt &nbsp 2016/10/06 16:32 &nbsp &nbsp

Fidelity messed up the pricing of securities on Friday October 3rd, 2008. Although the prices were corrected that day, transactions and possibly customer balances were not corrected. I have called and they cannot give me an exact time my account will be corrected, just that they are working on it. They are holding my money hostage (around $2,600). I could be possibly trading with that money or gaining money on it; instead, they are holding it themselves. Please be aware of the monies in your account as this could have happened to you. It is a shame that with such a big company you have to babysit your account daily and have a pretty good knowledge of trading to catch their errors. I am being offered no type of compensation for the error and no time of correction. If and when it is corrected it will be very difficult for me to calculate whether or not it was corrected accurately.

&nbsp Susan &nbsp 2016/10/06 16:32 &nbsp &nbsp

I had a 401k rollover account with them and was charged a series of unreasonable fees just to have my account with them. When I tried to finally close my account, I was given the run-around and in the end they charged me again to move my own money from their management! Their customer service is terrible, their employees make a huge profit from our hard earned savings and there is not one thing we can do about it. I have lost thousands of dollars while my account was under Fidelity's management.

&nbsp Janice &nbsp 2016/10/06 16:32 &nbsp &nbsp

On Friday, April 3rd, 2009, I went in to my bank, Trumark Federal Credit Union, to set up an IRA with them. We filled out all the proper paper and they explained all my options. When we called Fidelity to find out how they wanted us to proceed, they told me I could not roll my money over. Mind you, it's not company matched money. It's all mine and they told me it's not an option for me, but I could take a loan out. Mind you, I'm out on workman's comp. and there is no way I could pay a loan back without payroll deductions. They told me then I would suffer penalties. I said, "Wow, I'm not taking a loan; I want to roll over my money that I worked for and saved." That's when I hung up on them.

&nbsp John &nbsp 2016/10/06 16:32 &nbsp &nbsp

On 8/18/2009, I called Computershare to sell my AT&T shares. The person there said that I would have to send a form to Fidelity Investment to sign off and stamp the form with a medallion stamp. The reason was on my shares it stated Fidelity Investment TR Mattie **. I retrieved the form off the internet, filled my part out and mailed it to Fidelity. I have called several times to Fidelity and they have my form. A person there said it's in the back and they are just waiting to look it over. She said that she would call me back. I never heard from her and I have been calling at least twice a week to Fidelity to no avail. Computershare said that they are waiting on Fidelity. This is ridiculous. These are my shares when I worked at BellSouth. I need some help to resolve this.

&nbsp Mattie &nbsp 2016/10/06 16:32 &nbsp &nbsp

I had a company 401K Retirement IRA with Fidelity for years. I kept getting calls to move from company to a Rollover IRA under their management. I moved the IRA earlier this year, but couldn't find the rates that I wanted, so I moved the $ to local banks and closed the account. I was charged a $50 fee to close the account... for paperwork, etc. I was not informed of this charge and requested that they reimburse me, which they have refused.

&nbsp G &nbsp 2016/10/06 16:32 &nbsp &nbsp

I was medically evacuated from Iraq where I had been working for a private US company. I am 62 years old and now disabled. I attempted to have two 401K accounts distributed by Fidelity. They refused and are now telling me I will never be allowed to have the money at all. I asked what happens when I die and my wife wants the money. They told me she will not be allowed to have any proceeds from the accounts. They claim it is the federal policy, and they are required to protect me by keeping the money. Interestingly, the FTC agrees with them.

&nbsp Jack &nbsp 2016/10/06 16:32 &nbsp &nbsp

I transferred a large sum of money into fidelity and was assured that there would be no fee for the transfer. I was assessed over $160 in fees, front-loaded. I complained and asked for arbitration. I was told that I did not have that option. I asked for a transcript of the phone call. They refused to supply it.

&nbsp Doug &nbsp 2016/10/06 16:32 &nbsp &nbsp

My husband called/faxed to cancel the life insurance policy on 10/18/10. The automatic draft came out of our account 10/19, which was set up on 10/15. I requested, since we cancelled our policy, that I be refunded the $124.71 or a proration thereof. They stated that it is company policy to not refund any monies. I asked where in the contract this was stated, she said it isn't in the contract, it is company policy.

&nbsp Lori &nbsp 2016/10/06 16:32 &nbsp &nbsp

Fidelity does not follow government guideline to have client's tax form ready by certain dates. Until today (2/19/2012) they don't have my tax form for 2011 ready yet. I was promised to have them ready by 2/13/2012, 2/18/2012…

&nbsp Vincent &nbsp 2016/10/06 16:32 &nbsp &nbsp

When trading the Internenet connection is very slow. Everrthing is loaded slowly as well as the trading platform.

&nbsp Elizabeth &nbsp 2017/3/13 15:02 &nbsp &nbsp