Business Profile

Mutual Funds

Fidelity Investments

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Fidelity Investments's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

1,331 total complaints in the last 3 years.
586 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Initial Complaint
Date:01/18/2023
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I recently started new employment. As I went through medical insurance enrollment and such via employer's site I received notice by email that if I did not long into fidelity portal to opt out of enrollment I would experience deductions for forced 401k contribution. Since I am aware previously of fidelitys negative reputation I went to opt out. Upon entering my info for a forced registration I discovered fidelity left e off my middle name. I also saw someone elses name attached to my account. I called and was emailed form to upload with proof of my name. Fidelity then immediately locked me out of acct so I could not submit documents. I have spent over 50hrs over the past 2 plus weeks trying to get them to fix these errors and close acct. i have been hung up on almost 100 times, verbally abused and insulted by workers, and fidelity is trying to force me to skip work to go to an in person office. Fidelity profits by keeping me from closing acct. i did not choose to enroll. I do not need their products or services. I am a military dependent designated household. Fidelity tried to wrongly blame my employer for their errors. My employer had submit my name to medical insurance companies and my name isnt wrong there. Fidelity messed up several ways. Fix the e you left off my legal middle name. Also remove the other person info you have showing on this acct as my employer can see this information and it makes me look bad. Also CLOSE the account completely and delete and provide legal written proof this has been done. What your company has done is DANGEROUS and a safety is***. If any deductions occur I will *** your company as I contacted well before the deadline to stop deductions from happening. Fidelity tried to force me to send copies of my live ss card and photo id. That is risk of id theft and they have had is***s with that with other people. I have original appt letter from ssa from last ordered card and form fidelity requested. They messed up. Fix your errors.
Business Response
Date: 01/25/2023
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on 1/25/2023, 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 response.

Sincerely,

Fidelity Investments
Customer Answer
Date: 01/26/2023
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.

FAQ

Regards,
*********
Initial Complaint
Date:01/17/2023
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Representative made me to keep ************* in my 401K account and not to do any changes,even after I expressed my wanting to move my funds into BONDS and CASH type account due to the loss of $1, 000 in 1-st quarter of the year 2022.Next quarter was even worse: I lost $2,444.That really made me upset, very unhappy, distressed with this large LOSS AGAIN, so I called and I switched my account to BONDS and CASH TYPE ACCOUNT.Just recently I learned that I can bring my COMPLAINT to Better Business BUREAU and this what I'm doing at this time and I'm requesting Fidelity Investments to reimburse/ to refund me what I lost: $2,444 for a 2-d quarter of the year because I wanted to make the big change but because of that female representative, I believe her name is ****** she was telling that until I will get retired for sure the account will be in a better situation. I have a cardio problem and I want my funds to be available to me at age 59 1/2.I'm 53 now, so I don't have too much time for LOSSES, it usually makes tonly a thousand per year to gain these funds, now with the almost $4,000 losses I need to regain $4,000 and then gain new money.I don't have a large portfolio, I had only ******, that's why $3,444 it was a LARGE LOSS, it dropped significantly!!! Now my account is $17,700.00 only.It's not large portfolio amount to risk and I don't have too many years just to LOOSE funds and then wait on REGAINING!!! WHEN I will be earning???!!!!"Fidelity Investments" representative made me to loose these funds.Request:Reimburse me a LOST amount of $2,444 into my 401k account.
Business Response
Date: 01/18/2023
To Whom It *** *************************************** forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on January 18, 2023, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:01/17/2023
Type:Product Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
July of 2022 took out a loan the person handling the loan approval did not set up my account correctly and which now the loan went into default which is not my fault very unprofessional company does not want to take responsibility of what happen
Business Response
Date: 01/19/2023
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on January 18, 2023, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

***************************
Fidelity Investments
Customer Answer
Date: 01/19/2023
[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
Date:01/17/2023
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I have been attempting to close my deceased ex husband's 401k since December of 2021. I have his 2 children. I have been asked 5 times to complete the same beneficiary affidavit and each time I send a new completed one in, they send me another one months later. They are purposefully and wrongly delaying the release of funds and will not tell me what to do. I'm tired of revisiting his death. I'm also having to work 2 full time jobs to keep our lights on. I don't have time to chase these people. I have done everything they ask and they keep sending me the same documents over and over. They won't give me any information or a solution.
Business Response
Date: 01/18/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we responded by email to the client on January 18, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:01/17/2023
Type:Sales and Advertising Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
On December 1st, 2022 I contacted fidelity to initiate an internal roll over from my *** account into my 401k account! I was told to allow **** days for the transfer to be completed and no further acting is needed by me! Around the 1st of January; I checked my accounts and the rollover had no been completed! Since then, I have been in contact with the personal investments department as to why this hasnt been completed numerous times (at least 7 different calls) I had found out that the wrong deposit form was used to transfer the money over which was the first mistake and I had to call to get that straightened out! A couple days later I seen on my account that my money was no longer in my ***, but was not in my 401k account yet! Had to make another call to find out that my money was transferred to a different person with the same last name but wrong first name! As of 01/12/2023, I was told that everything was finally corrected and received a transfer confirmation number and the account would be in good standing that business day! 01/17/2023 I had to call again due that statement not being true and my money still showing in my *** account! During these calls, I have been transferred to numerous different people and have been told this are corrected! As of today, still working on getting my money transferred! Fidelity has been polite during this process but it seems like some employees have no idea what they are doing! Horrible customer service as far as getting their mistakes corrected!
Business Response
Date: 01/22/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***********************************. We wanted to make you aware we emailed **************** on January 20, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Customer Answer
Date: 01/23/2023
[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
Date:01/17/2023
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Fidelity investments has restricted my account and will not let me get my funds they claim it's for a bounce check written in ****************************************************************************************************************************************************************************** 2020 so that's impossible so now they won't my sister death certificate which I'm not about to ask my mom for that to bring back up memorys this is unbelievable and shouldn't be this hard to get my funds out this is my last step if nothing happens I will be contacting the ***** maybe they can't better assist me
Business Response
Date: 01/17/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from *****************************. We wanted to make you aware we emailed the client on January 17, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:01/16/2023
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
RE: Acount No: *********, Traditional **** For the past three months I have been unsuccessful at securing the payment of Minimum Required Distributions (***s) for my wife to her guardianship account. ***s must be taken no later than the last day of year following the year they turned 75 years of age. In this instance, the *** should have been taken no later than December 31, 2022. Failure to do such imposes a heavy penalty on the account owner. The Will County Circuit Court has appointed me the plenary guardian of the person for my wife, *****************************, SSAN: XXX-XX-****, DOB: 01/13/1949 on June 18, 2021. I have been the plenary guardian of the person since October 22, 2021.I have sent Fidelity Investments copies of the court orders appointing me guardian of the estate and successor guardian of the person. I have sent Fidelity Investments Letters of Office for both the estate and the person. I have even gone so far as to send Fidelity a ************* of ********* On top of that I have sent a Fiduciary Certification required by Fidelity.Months later, I have not received notice that the *** has been established. Please assist in securing *** payment for my wifes guardianship bank account.
Business Response
Date: 01/25/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we responded to the client via email on January 25, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Customer Answer
Date: 01/26/2023
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.]
The major issue was the failure of Fidelity to esstablish an Required Minimum Distribution for my wife's account. While they claim to have done such I have not seen the distribution deposited to her bank account. Second, I have eared over ***** point with Fidelity Credit Card Services. K have not received this payment would be the equivalent of approximately $800.00.

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.

FAQ

Regards,
****

Business Response
Date: 02/01/2023
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on February 1, 2023, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer Answer
Date: 02/02/2023
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. The company's response is merely an acknowledgement that they are working on a ******************** does not contain any corrective action. Thanks.
[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.

FAQ

Regards,
****

Business Response
Date: 02/08/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we responded to the client on February 3,2023, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret *************************** is unhappy with our response.

Sincerely,

Fidelity Investments
Customer Answer
Date: 02/08/2023
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.
My complaint was multi-faceted. Afer trasmitting evidence that the wo. Rather than face the concequences of a cuivil rk commpleted by Empire Today, the merchant himself refunded the purchase price for the tile and labor. This was aconsiderable sum well over $10,000. With evidence of poor workmanship sent to the merchant, it was obvious that the contractor had performed poorly. There was no excuse for such egregious deficiencies. The credit card company, Fidelity Financial, is mismanaged and when I addressed the fact that a labor shortage of tile installers resulted in a delay, Fidelity rsefused to address its cookie cutter response. One cannot make claims without evidence and in this instance, the Covid epidemic had resulted in a backlog of individual requesting proper and customary evidence. All I could do was detail the nature of the workmanship, and hope that the credit card company was properly staffed and aware of statutory obligations for service and material refunds.
However, I did ask for an intervention on obtaining my points which had accrued to nearly $1000s. There was only a partial refund on points credited to my wife's stock account. All I can do at the moment is advise people of the poor business practices of Fidelity Financial services.

its statuory obl
Initial Complaint
Date:01/16/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I requested a lump sum payout of my Pension from Fidelity Sentara in Nov 2022. They ask me to submit paperwork requested. I submitted it but I submitted a copy of the divorce decree from my attorneys office not realizing it wasn't a signed copy with judges signature on it. As soon as I found out it wasn't the signed copy I submitted the correct copy. When I talked to a representative in Nov they stated that I would receive my payout Jan 1st. I know it would actually be Jan 3-4th. But when I didn't receive the money I called several times to see when I would receive my money. Well, I got several different answers from each of the representatives. Someone finally stated that it would be another 4-6 weeks. Which is unacceptable. I had already obligated money for an elective surgery which is on Jan 20th. I requested that it to be expedite the paperwork.Because the paperwork should have been reviewed in the 4-6 weeks that they already the paperwork and hold the money until they got the paperwork with judges signature on it. But they wanted to hold it for another 4-6weeks to review a 6 page document. So they expedited it and they stated it was approved Jan 4th then and funds available Jan 10th. Then they stated that the payout wouldnt be until Jan 20th. that is the day of my surgery. Well, I have to pay for the surgery before Surgery. So what does that mean I had to reschedule my surgery. THIS IS UNACCEPTABLE!!!!!! WHY DOES IT TAKE 16 DAYS TO WIRE TRANSFER MY MONEY. YOU NEED AN EXTRA FEW DAYS OF SITTING IN ESCROW TO COLLECT ON THE INTEREST. I HAD TO RESCHEDULE MY SURGERY BECAUSE YOU CANT OR WONT SUBMIT MY MONEY. IT TAKES MINUTES TO TRANSFER MONEY NOT WEEKS.
Business Response
Date: 01/18/2023
To Whom It May ****************** style="color: rgb(34, 34, 34); font-size: small; font-family: Arial, Helvetica, sans-serif;">
Your organization forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on January 17, 2023, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

*************************
Fidelity Investments
Initial Complaint
Date:01/13/2023
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My father was killed by a vehicle when walking in a residential neighborhood to check the mail. I am the sole Executor of my parents Trust and Fidelity Investments does not understand the difference between a POA and a Trust. The institution refuses to legally follow Federal law and at one of dozens of interactions from phone, online and in person interactions. One conversation with Fidelity, I was told "because the account is over 100k, we take different actions. It's been 3 months and my **************** bills would have put an 88 year old, 1/2 paralyzed from a stroke, blind and showing signs of dementia on the streets if I didn't use personal funds. Fidelity *************** is a SCAM!
Business Response
Date: 01/18/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from *********************. We wanted to make you aware we emailed the client on January 17, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:01/13/2023
Type:Sales and Advertising Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Horrible treatment and definite lack of honesty & integrity. My spouse passed and they flat out lied 3 times telling me they had sent the info over to the life insurance company. Over two weeks later they had LIED THEY STILL HAVE NOT. They are the "Amazon" of financial institutes and could care less about those in my position who on top of grieving must FIGHT and make daily calls/escalate to get action taken
Business Response
Date: 01/17/2023
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the customer on January 17, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments

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Fidelity Investments is NOT a BBB Accredited Business.