ComplaintsforFidelity Investments

Mutual Funds

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Initial Complaint
11/22/2021
Complaint Type:
Product Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I filed a MRD request on my Fidelity Account #50318. I was told this was done 11/1/21 and the remainder check would be sent to me within 7-10 business days. It is now 11/21/21. Miguel a Fidelity Supervisor did not help. On 11/19/21 he acknowledged that the check was overdue and said he would stop payment and send it express. I asked that it be sent over night because of the long delay and because of the timing it would not be received until after Thanksgiving. He said he would not do anything unless I agreed with his plan. This money was removed from my funds 11/1/21 and I have been denied access to it since then. I seek help to obtain my money in the shortest time possible.
Business response
11/23/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We confirm we are in the process of reviewing the complaint and will work with the client for resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments

Customer response
11/24/2021
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.
Fidelity has not contacted me nor have they provided me with the check which is long overdue.
[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
11/22/2021
Complaint Type:
Product Issues
Status:
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.
My father, *************************, passed away 10/19/20. Earlier this year (Spring 2021) I received an inheritance *** account from Fidelity (along with my 2 brothers) as a result of my father's 401k retirement account. A lump-sum distribution was created 08/10/2021 and a check was supposedly mailed 08/12/2021. My 2 brothers received checks within weeks of the mailing date and I never received anything so I called to check the status. They showed a check being mailed but still showed as being outstanding so they (claimed) to have cancelled the initial check and mailed a second check. The rep informed me to wait a few weeks and call back if I still didn't receive anything. After one month I still hadn't received the check so I called again. The second rep said the payment still showed as being outstanding (so the check hadn't been cashed) and said she found a "glitch" in the system... something to do with my mailing address. She said she would notify the proper departments, correct their errors, and make sure a check was mailed out, but to give it enough time by waiting a few weeks. After another month, I still hadn't received anything so I called a third time. The check (or checks, because I'm not sure a replacement was ever sent) still showed as being outstanding in their system so the third rep (said the same line as the others) and claimed he'd have a replacement check sent... but to give it a few weeks. After another month, nothing has ever been received. Phone calls are fruitless because I'm given the same line every time. I've attempted to write but have yet to get a response. The amount in question is approximately $25k, so it's a sizeable amount and I'm afraid of it being permanently lost in their system without a resolution. I'm at a loss because nothing seems to help.
Business response
12/01/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on December 1, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
11/22/2021
Complaint Type:
Order Issues
Status:
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.
I have two accounts with Fidelity. The two accounts are through Pinnacle and ******************** ******************* bought Pinnacle about a year ago. I've attempted three times to change my address on my Pinnacle account. I have no access to make changes, add funds, request funds or rollover my Pinnacle account. It is just sitting there. I've been told that updates must be done by Pinnacle - a company that no longer exists.
Business response
11/29/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the client on November 29, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
11/20/2021
Complaint Type:
Product Issues
Status:
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.
This is in response to a previous complaint.I have asked previously for an email and never got it. I am asking for 3 things to resolve my issue over closing my account. 1. I need an email clearly stating was is expected and where to send it. I also need a timeline on what to expect when sending my info.2. I need an official signed letter stating what is needed to be mailed to me. This letter needs to explain why you closed my account, and also the info needed and where to send it to.I am also curious on why you want me to send sensitive information through ***** You previously asked for me to send my info through the mail. This would involve sending a copy of my social security card. Once this request is met I would gladly recommend closing this out. Thanks!!
Initial Complaint
11/17/2021
Complaint Type:
Service or Repair Issues
Status:
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.
On Nov 2 2021 the completed Fidelity Transfer due to Divorce-IRA form was hand delivered to Fidelity Investments Virginia Beach and 16 pages of documents one of which was signed by Virginia Beach Circuit Court Judge. Fidelity was supposed to do a transfer of funds from my Spouses Fidelity Ira to my Fidelity Ira. This is an Internal transfer within Fidelity. A one hour phone call November 4 with Fidelity Transition Services did not get the 2 minute transfer done. Fidelity has a severe shortage of staff and wait times on phone calls are excessive. I called Monday Nov 15 and was on hold for 1 hour 27 minutes and was supposed to be transferred to Transition Services but instead the call was disconnected. It is now Wednesday November 17 2021 and Fidelity has not processed the completed Fidelity Transfer Due to Divorce form. Better disclosures on Fidelity forms - preferably a complete regulatory review of Fidelity’s failures to complete an internal transfer should happen. They need to hire more staff and have the Help Desk do the 2 minute transfer.
Business response
11/22/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on November 20, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer response
11/22/2021
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,
*************************

Business response
11/26/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from *******************. We wanted to make you aware we emailed the client on November 24, 2021 to address the client's complaint. We consider the matter fully reviewed and resolved. We regret Rona is unhappy with our response.

Sincerely,

Fidelity Investments
Customer response
11/29/2021
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,
*************************
It has now been since 27days since November 2, 2021
that Fidelity Investments was hand delivered completed
transfer form in good order and continues to fail to do the
2 minute transfer between *** accounts. They have all the
information on their form and Court documents
but insist on what will violate Privacy regulations.
Fidelity staff that is trained in Privacy regulations needs
to review their requirements and get this simple transfer done.

Business response
12/02/2021
Dear Better Business Bureau:

We wanted to make you aware we emailed the client on November 24, 2021 to address the client's complaint. We consider the matter fully reviewed and resolved. We regret Rona is unhappy with our response.

Sincerely,

Fidelity Investments
Customer response
12/05/2021
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.
I continue to request Fidelity Investments complete the *** transfer between accounts which they have their form that was completed and delivered to Fidelity Investments ************** office November 2 2021. Their form has all the required information and is in Good form. Fidelity interpretation of 16 pages of divorce instruments appears flawed and they demand private client information be on a Public Court documents. It requires that Fidelity complete the transfer to be resolved, and Fidelity could do this in 2 minutes by processing the transfer on their Help desk.

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
11/15/2021
Complaint Type:
Billing Issues
Status:
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.
My Fidelity account has been subject to fraudulent transactions between 10/27/2021 and 10/28/2021. While Fidelity detected and issued me a new debit card proactively without me even noticing the fraudulent transactions, they failed to deposit the money back pertaining to fraudulent transactions to my account even after close to three weeks. Whenever I tried calling customer service number they always says it is under investigation.
Business response
11/29/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ************ Sangineedy. We wanted to make you aware we emailed the client on November 29, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved

Sincerely,

Fidelity Investments
Initial Complaint
11/15/2021
Complaint Type:
Billing Issues
Status:
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.
Fidelity Card Services **** #**** Charge made for $209.68 on 8/19/21. Called and Cancelled card 8/20/21. Received new card. Case opened. Received letter from ************ Contact ********************************* Ext. **** ***************) that case opened and amount "temporarily credited" Not Done. You cannot contact this person. Always an Answering Machine. The main Number is also an Answering Machine. Received a letter from the same person ********************************* on 10/14/21 that "We have completed our investigation of your claim, and, therefore the Provisional Credit totaling $209.68 applied to your account have been made permanent" I have not yet received my credit and when i call Customer ******************** ************** a report is made. There is actually a report they see and review when i call but i get no callbacks and No refund. I cant even use this card because i am afraid of this happening again.*********************** ************ ******.***** @yahoo.com
Business response
11/18/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we emailed the client on November 18, 2021, to address their complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
11/12/2021
Complaint Type:
Billing Issues
Status:
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.
rolled over my 401k from ****** ******* in early september. I am not the best with technology so i had my son help me and he was on the phone with me every single time we called. We made a joint account so he could help me with a few things and show me what to do. We decided to create an individual account and transferred some money into it. not paying attention, i transferred everything into the individual and purchased Gamestop Calls. My account was frozen and has been for five days now. "fraud" they say. They are claiming my son showing me how to trade on an account without his name is fraud. Its been a week since my account was locked. We have submitted every document they asked for. We have been lied to over and over about the reasoning and why the account is locked. They have stopped answering calls or when we do get ahold of someone they hang up. We cant even Liquidate our positions and get what remaining money we have out because no one will talk to us. They have known my son is helping me from day one. Made sure to help me get every single dollar out of ****** ******* and then Locked my account and accused me of fraud. My account has lost 15k in the 5 days they have locked it and they are refusing to give me back my money. They are claiming fraud when my sons name is on the Joint account. We accidentally transferred all the positions into Individual instead of the joint we made. After the next time he called to talk to them and they saw we had unknowingly transferred my positions into an individual they locked my account because my son had been helping me and they claimed it to be fraud. We have submitted every document, been to the store twice, and 5 days later and 25 phone calls, still cannot even get our money out because NO ONE WILL ANSWER **, TALK TO **, OR COMMUNICATE WITH **! They are literally holding a 65 year old womans life savings hostage even though weve proved and they have acknowledged its my son. not fraud
Business response
11/15/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from *******************. We wanted to make you aware we emailed the client on November 15, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
11/12/2021
Complaint Type:
Product Issues
Status:
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.
Asked Fidelity to manage my 401k. Said everything would be frozen until they got signed paperwork. After 10 days called and was on hold for over an hour and they said would send again. Called today and want to close my accounts and have money transferred to my bank because, just today, on hold over 3 hours passed from **** to **** and i'm STILL on hold. No resolution. I'm 74 and retired and I need my money to pay bills now. I think they put you on hold for hours and never resolve an issue just so you give up. I have to have my money transferred out of Fidelity. Three hours now on hold and just got cut off. I WANT ALL ACCOUNTS, INCLUDING ANNUITY, CLOSED AND MONEY TRANSFERRRED TO MY US BANK ACCOUNT
Business response
11/16/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ******************************* filed under the above referenced case ID.. We wanted to make you aware we emailed the client on November 15, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
11/12/2021
Complaint Type:
Service or Repair Issues
Status:
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.
On October 8, 2021, I called Fidelity Investments regarding a transaction on my Fidelity bank card. I spoke with the disputes department advising that a $2435.62 charge that was made on my Fidelity account needed to be reversed ASAP. I was advised it would be taken care of and the money put back on my account via a "provisional credit". The money was credited to my account and then charged on the same day. Not sure how this is a credit. I contacted the disputes department via email (all of my correspondence has been saved) regarding this and was advised to send a copy of the charge receipt and another "provisional credit" would be issued. I did as requested and was sent an email showing that the credit was applied and advised to wait 3-5 business days for the ability to have access to those funds. I waited patiently to see if this was true and it was not. I spent hours and hours on the phone with Fidelity **************** trying to find out where my money was and no one could tell me. I was promised a supervisor would be in touch and that has been 2 weeks now. I call and email every day trying to get assistance as I have 2 charges for the amount and only 1 credit. How can a FDIC and SEC regulated company hold someone's money hostage like this?
Business response
11/15/2021
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on November 15, 2021, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer response
11/15/2021
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.
I have not received any type of communication from Fidelity as per their response to you. They have two different numbers and email addresses and none have been reached out to today.

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
11/16/2021
Dear Better Business Bureau:

Your organization forwarded Fidelity a follow up complaint from ***********************. We wanted to make you aware we emailed the client on November 16, 2021, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments

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