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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
06/13/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
I have been attempting to make a withdrawal from my 401k account with **********************. The first attempt was made on May 1, and since that time, Fidelity has continued to delay payment of the withdrawal, as well as duplicating the transaction which will result in additional taxes and penalties.
Business response
06/13/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *************************. We wanted to make you aware we emailed the client on June 13, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
06/17/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
*************************Initial Complaint
05/29/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
In December of 2023, I contacted Fidelity to inquire about opening a Simple *** for my business. I completed and faxed the paperwork on January 3rd of 2024. I spoke with ***** on January 15th but he was unable to complete my account. On January 16th, I spoke with ************* with the Service Solutions Group and sent her the forms she requested. She said the previous fax did not work. On January 23rd, I provided my SSN and tax IDs to ****** and she instructed me to make a change to my Corporate resolution form which I did and submitted on January 25th, 2024. On January 26th, I received an email from ****** saying she expected my account to be opened by the end of the day and that I would receive an email with further instructions. I never heard back from ******. On April 4th, I called again and spoke with another person. They walked me through setting up my account, but every time I tried to access the manager site, I got an error. The rep did not know how to deal with it and said I would receive a call back the next day. I never heard from anyone. On May 15th I drove to the Fidelity office in ******* and asked for help. The person there said I would receive a call that afternoon. On May 28th I returned a call from ************** and was told that there was no record of a Simple *** account. I uploaded all of the forms I had previously submitted to *****, and he responded by telling me I had to resubmit them. He prefilled a company profile form, but it was incomplete and contained several mistakes. I updated ***** about these problems, but I have yet to hear back. I need to know if anyone at Fidelity has the ability to help me. If not, I would like to stop wasting my time and find a company who can provide decent customer service. It is unfortunate that I had to resort to filing a BBB complaint but there does not seem to be a way to get this done through Fidelity's normal channels.Business response
06/03/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the client on May 31, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsCustomer response
06/04/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
***********************Initial Complaint
05/29/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
My complaint is because I requested a withdrawal from my 401 K, they told me no more than 15 day and there are already almost 30 days and no one can tell me what is going on. I need to understand what is happenning since it could be something suspicious, and I am already loosing menoy since the debt for which I want the money is already requesting a late fee.Customer response
06/08/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
************************************Initial Complaint
05/28/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
Fidelity Investment rolled a personal investment fund *** ending in 5888 that was purchase using pretaxed monies from a Fidelity municiple money market fund ending in 3035 (FTEXX) into a tax deferred Fidelity managed fund ending in 1365. This transaction occurred during the first quarter of 2024. I first contacted my Fidelity wealth management advisor *************************** on May 7, 2024 and requested information regarding this transfer. ***** was questioned on how a fund purchased with pretaxed fund could be rolled into a tax deferred fund and his answer was that this could NOT possible happen. He stated he would turn the request over to wealth management service support specialist ************************* for further investigation. After not hearing from Fidelity for 7 business days, I again contacted **** and asked for an up date, he had nothing to add to the previous request , but stated again that he would contact Fidelity support services. I was then contacted by ************************* on 5/14/2024 and again on 5/17/2024 via email stating that "she could NOT speak to the decision on why the pre taxed fund was rolled into a tax deferred account." ? I have tried repeatedly to contact ************************* via phone and email without success. I can provide documentation directly from Fidelity along with emails received from *************************. I feel these funds were wrongly moved to a tax deferred fund when they could have , should have been rolled into my current **** fund. I have repeatedly asked to speak to a Fidelity supervisor pertaining to this issue and my requests have been denied. I humbley request your assistance in helping to mediate and resolve this issue. Thank you. ***************************.Business response
05/29/2024
To Whom It *** *************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.
We contacted our client directly on *** 29, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsCustomer response
06/04/2024
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
The attachment .jpeg that I provided above, is the only response that I have received from Fidelity regarding this issue. They have NOT offered any direct response to resolve this issue.
Regards,******
Business response
06/12/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we emailed the client on June 5 and June 12, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret ****************** is unhappy with our response.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/28/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Complaint against Fidelity - our accounts have been "under review" and restricted for 2 weeks with no reason.We have been with Fidelity for multiple decades. In our recent rare need of funds, Fidelity (1). Decline to even test wire: I need to wire some *** to my friend in exchange for Chinese yuan(***) to purchase a property in *****. I asked Fidelity(******?) to test wire $10 *** on May 9. After the link is set up, my friend is ready to wire me the *** first, then I will wire him the *** equivalent. However, even the test wire was declined. The only comment given was "too many moving parts". (2) account restrictions without notice or reason: next day, 5/10, to my surprise, my trading orders did not go thru. That's when I first realized our accounts were restricted without forewarnings of any kind. (3) abruptly cancelled Bill *** feature - We have relied on our Fidelity deposits to pay many of our expenses. On 5/10, I received a surprising email that the Bill *** feature has been cancelled, "again with no warning". My wife ended up spending a lot of time immediately to redirect the payments. In the end, at least one payment did not get paid in time. This may cause serious credit downgrade. (4) terrible communication and condescending tone: After three days without resolution, I complained to my account manager *********************** on 5/14. Then a ************************* from Risk Team called both myself and my wife. We answered all her questions. To justify that it's not a scam, I even offered to provide the evidence of property purchase and told her I would receive the equivalent Chinese yuan before I wire ***. She declined to accept these as evidence of "not a scam". She said she cannot verify these since these would be in Chinese. She kept on saying "something does not make sense" but cannot provide anything to support her claim. Her calls to my wife are equally condescending. She also "distorted" about my assertion that I can receive *** before I wire ***.Business response
05/29/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *****************. We wanted to make you aware we sent an email to the client on May 29, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/26/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Starting in May of 2022-March of 2023 I was putting 10% at first, then later i changed it to 25% of my pay into fidelity investments for a **** retirement fund. I took $200 from that account. Otherwise I didn't touch it and that was one transaction. I had a sexual harassment case with Enterprise so I left the company. A few months later I was thinking of starting to put more money with fidelity, so I started checking how to go about this in turn I found that my account is $0. Not only is my money gone but I was under the impression that Enterprise was going to match that! where's my money?? I mean ts not a lot of money. But when they are taking $76 out of every $250 I make ...that's a lot to me!!!Business response
06/03/2024
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
We contacted our client directly on *** 31, 2024, and are currently working on a resolution. We consider this matter closed with the BBB. We ask the complainant to allow 7-10 business days to receive our final response.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/24/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
I received a check for $7,250.00 for my grandfathers life insurance payout. I dont have a bank account to cash a check so I opened a Money Management account online with **********************. I mobile deposited the check and was told it would clear in 7 business days. So I waited the seven business days, went to check if the money was available, and the account was locked. So I contacted them over the phone and the agent spoke with a special team behind the scenes and then transferred me to the fraud department. I was then asked a few questions to verify my identity, but as he asked them none of them sounded like anything about me. Im not sure how many I got wrong or what but it happens, Im sure. So next Im asked for my Drivers License, Birth Certificate, Social Security card, the check stub, proof of residence, and the letter I received from MetLife showing that I was beneficiary and could file a claim on the policy. They STILL werent satisfied! They then tell me that the only way I can have my money released was if I had MetLife send me and Agency Funding Letter with a Medallion Signature Guarantee. Then once I receive that letter in the mail, overnight it to them. So I contact MetLife customer service and the person I talked to has no idea what a Medallion Signature Guarantee is. I have talked to over 20 different employees at MetLife and none of them know what a Medallion Signature Guarantee is. I asked them to connect me with the most knowledgeable, most senior person in the department and I was told she didnt know what that was and I wouldnt be able to obtain that from MetLife because they dont offer that service. So I told Fidelity and they basically said that theres no way for my money to be released unless they receive the Agency Funding Letter with a Medallion Signature Guarantee from MetLife. So now Im stuck with no money. I literally feel like Im being bullied out of money. I gave them all of my personal documents, please help me get my money released.Business response
05/29/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *************************************. We wanted to make you aware we called the client on May 24, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/21/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On April 15th i cashed out my 401k because i no longer worked for the company it was with. i told them i had moved from the address they had, the apt building had been shut down, I gave them my correct address, I even have the email confirmation. but it was mailed to my old address. Called them again when i had not received it, went through the process again, and again sent to wrong address, this happened 3 times your company sent it to the old address and i am not allowed to set foot on the old property, and every time I call I have to wait an entire week to only have it sent to the wrong address again and again!!!!!!!!!!!!When am I going to get MY money??????????Business response
05/29/2024
To Whom It *** *************************************** forwarded Fidelity a complaint filed under case ID #******** for *****************************.
We contacted our client directly on *** 22, 2024, and are currently working on a resolution. We consider this matter closed with the BBB.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/20/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Complaint Against Fidelity Investments Regarding Inheritance Transfer Issues Details:Your Full Name: ************************* Company: Fidelity Investments Branch Location: ****************************************************************************************************************** Point of Contact: *********************, Investment Consultant *************)Broker: ***************************, CRD# *******, Fidelity Brokerage Services LLC (CRD# ****), ******************************************* Nature of the Complaint:I am writing to address the significant challenges I've encountered while attempting to transfer inheritance funds from my late father's Fidelity account to an "Inherited IRA."Due to housing instability, providing standard documentation like utility bills or rental agreements has proven difficult. Despite offering alternative proof of identity and addresssuch as my Social Security card, birth certificate, valid driver's license, passport, and mailing ***************************** has not accepted them, resulting in frustrating delays and financial strain.Requested Resolution:I respectfully request Fidelity to:Accept the alternative documents provided as sufficient proof.Expedite the transfer of funds into the "Inherited IRA."Provide written confirmation of document acceptance and the ongoing transfer process.Assign a dedicated representative for clear communication throughout the remainder of this process.Additional Information:Despite my best efforts to resolve this directly with *******************************, the assigned broker, no satisfactory solution respecting my privacy has been reached. I am reaching out to the Better Business Bureau for assistance in finding a prompt and fair resolution while maintaining my privacy, financial security, and peace of mind.Thank you for your attention to this matter, and I sincerely hope for a swift and satisfactory resolution. Your understanding and cooperation are greatly appreciated.Sincerely,*************************Business response
05/21/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *************************. We wanted to make you aware we emailed **************** on May 21, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
Fidelity InvestmentsInitial Complaint
05/19/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
My Fidelity brokerage account was blocked without warning from being able to log in. This has now interrupted my trading capabilities which will likely cause me to lose money. Upon contacting the customer service line they indicated that they are unable to do anything in regards to unlocking the account until Monday. Conveniently during prime trading hours. This is not the first time this company has hampered my ability to make money with their questionable practices. I was not contacted via telephone, text, or email or given an opportunity to either recognize or deny the so called "fraudulent activity". This company simply locks your ability to have access to your own money at their discretion. This is completely unacceptable and they need to unlock my account upon me contacting them. Had I not tried to log into my account today I would have not known that it was locked until I would have gone in to do a transaction. I have close to $30,000 in jeopardy as a result of this lockout that I was not even informed of. This is a serious matter and their lack of cooperation may result in legal action if this does not get resolved in a timely manner.Business response
05/21/2024
Dear Better Business Bureau:
Your organization forwarded Fidelity a complaint from *****************************. We wanted to make you aware we spoke with the client on May 20, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved.
Sincerely,
*****************
Fidelity Investments
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