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

1,329 total complaints in the last 3 years.
584 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:06/28/2022
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.
Fidelity is holding my deceased Fathers 401k. He has been deceased since ****. We were informed we were beneficiarys to his account. For 6 months they have led us on and still have not settled the issue.All the requested paperwork has been turned in. Including requested paperwork from the executor of the will. Every time we call we get a different story from each individual employee Now they claim they are backed up(For 22years)!. ? Obviously the market has fluctuated the past 22 years my father has been deceased. This is absolutely criminal to continue to hold on to someones funds this long.I have called 100 times and have received 100 different explanation of why this is taking so long.
Business Response
Date: 07/10/2022
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on July 7, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer Answer
Date: 07/11/2022
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:06/28/2022
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.
Fidelity provided notice that a 401K account has been transferred to our account after the death of a donor. Fidelity has been withholding these funds since March. The donor passed in May 2021. We have contacted them six times where we have been unable to provide an update on the status of the funds or account. They have mentioned they are unable to provide to the details during this processing time. This transfer has been withheld without details for four months.We have been told to call back at a later date with no resolution.Reference claim number #: W715285-28MAR
Business Response
Date: 07/05/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on June 30, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:06/28/2022
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.
My sister ***************************** passed away on March 19, 2022. She left me as her beneficiary on her 401K. I have provided ALL the necessary documents Fidelity has requested and there is NO communication from them unless I call and all I get when I call is "oh, I see some notes in the system" I am NOT keeping the money my sister left me with Fidelity and want to move to a different investor. The investor first contacted Fidelity to start the process and then told me that I will need to step in to answer questions she can't. They're holding onto MY money and I want this issued resolved ASAP as it's been over 90 days since my sister's passing. I believe they're doing this since I do NOT want the money left with Fidelity.
Business Response
Date: 07/05/2022
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint filed under the above referenced case ID.

We are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:06/28/2022
Type:Customer Service 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 inform Fidelity that they have the wrong email because I didnt sign up with them, they sent me an account, and the end of someone account number, I asked them to remove my email because its doesnt belong to me and someone might be trying to get someone information, I call Monday to inform them and she asked me for my social security number and my birthday which I refuse, that is then I was informed it will be removed, around 2am today I received 130 email about the same things in less than 30 minutes so from 2am and it continue, I contact them again, I was told there nothing they could do, so Im contacting you to see could you help, here the information I see of them: Fidelity Brokerage Service LLC, member ****, SIPA, *************************************************************, phone number: **************. Please help because I really dont know who these people are, I get a message every two minutes
Business Response
Date: 06/30/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on June 30, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments

Customer Answer
Date: 06/30/2022
[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,

*********************
Customer Answer
Date: 07/07/2022
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.
They still sending me those message, instead they stopping it, it have gotten worst
Business Response
Date: 07/13/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on July 12, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:06/20/2022
Type:Customer Service 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've had the Fidelity Investments credit card for around 10 years. 2-3 months ago I recieved a phone call from an agent at Fideilty letting me know of some suspicious activity and that they had voided a transaction. I confirmed that I had not made this purchase and they informed me that they could lock my account and that they would send me a new credit card. This was fine, however, after they locked my account I was no longer able to log in to it for around a month. I was on vacation at the time however this also meant I was not able to pay the balance on my card online which is how I had always paid it, I could not even access the portal to see the amount I needed to pay which was less than $20. However, by the time I was back from vacation and got around to re-activated my card, Fidelity had already charged my two late fees and multiple interest fees amounting to nearly $40.I attempted to contact them multiple times but after being put on hold and being told I had to call different departments I gave up and paid the now $50 charge. However this is rediculous they wasted hours of my time for something they caused by preventing me from accessing my account to pay, which would be fine except they also then charged me multiple times and made it nearly impossible to contact them without being on hold for hours and messaging them was useless.I felt very disappointed with Fidelity, especially given I have been their customer for more than a decade.
Customer Answer
Date: 07/01/2022
I have not heard from the business in response to my complaint.
Business Response
Date: 07/11/2022
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 July 11, 2022 to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:06/17/2022
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 had my account closed but Fidelity simply kept my money (2 deposits of $100.87 and $ ********). The deposits were made on 03/25/2022 and the accounts were close by then. Fidelity is simply stealing my money. All I want is my money back, since Fidelity don't want me as a customer. Period. I'll file a civil lawsuit seeking financial compensation if I don't get my money within 48 hours.
Business Response
Date: 06/21/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We wanted to make you aware we emailed the client on June 21, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:06/17/2022
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.
They won't return my funds after nearly 30 days
Business Response
Date: 06/21/2022
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 Answer
Date: 06/21/2022
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:06/16/2022
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.
Fidelity 401K told me last fall they had a promotion that was extended where I could take money from my 401K and have the 10% early withdrawal penalty waived.I called back several times to confirm before taking money out to purchase a home.When I received my tax form this spring, my accountant told me it had the wrong distribution code and cost me an extra $25K in taxes.They would not change the code on the form; stated they will remediate their employees for sharing incorrect information. They will not allow me to have a copy of the recordings unless I file a lawsuit against the company. I wrote a letter to their legal department; no response. I filed a complaint with their supervisor; no response. I asked them to review the tapes and they stated nothing was mentioned; which is not true. My other investment company told me up front that I would be charged the 10% when I called to ask their input and they had no programs for COVID, etc. When I called Fidelity after them...they said yes; we have a program. I called back several times and no one could tell me the program they coded me under. You get a different person everytime to call. They are taking no accountability for their error. I do not have the means to file a lawsuit to get a supeona for the recordings. I just want them to code my tax form the way it should be to waive the 10% early withdrawal fee that they promised. If I knew I had to pay the 10%; I would never have taken out the money. Could someone please assist. This is not right. Is there anything you can do to please assist? I spoke to a lawyer and they said it would cost me more than $25K to get a supeona to get the recordings. That is probably what they hope for...so no one speaks up for the truth. This is ethically and morally wrong. Thank you.
Customer Answer
Date: 07/01/2022
I received a call from fidelity to state someone was assigned to my complaint and they would get back to me this week.
I have not heard from the business in response to my complaint.
This is still not resolved.
Thank you.
Business Response
Date: 07/24/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on July 21, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer Answer
Date: 07/25/2022
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:06/16/2022
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.
This investment company (Fidelity) has not/will not disperse the required minimum distribution from ******* *** account. Phone calls to the Fidelity customer service department tell us the same thing - that the account is locked and a supervisor will need to resolve the issue. They could not say why the account is locked. Repeated requests for a supervisor to call back have been made but no return phone call has been received. At the suggestion of ******* **** ***** filled out notarized paperwork to have her local bank pull/transfer her Fidelity *** to her bank's *** account. Fidelity refused (by letter) stating that the account was locked. Yet, despite requests for communication, Fidelity will not contact ***** to resolve the issue.***** hired a lawyer to draft a letter to Fidelity's legal department, requesting that they contact *****. The letter listed several ways to contact ***** but ***** has still not received any callbacks or letters from Fidelity.Our next steps are filing this complaint with the BBB and if that does not result in Fidelity contacting ***** to resolve the issue, then ***** will be forced to take legal action and request Fidelity show ** in court to resolve the issue. ***** wishes to transfer the account with Fidelity to her bank to avoid any need to work with Fidelity in the future. Meanwhile, ***** has not received the required minimum distribution (due to her age) that she is required to take and report on her federal taxes. This may become a federal tax issue for her.
Business Response
Date: 06/20/2022
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 June 17, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments

Customer Answer
Date: 06/22/2022
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.
Your response was to simply contact the customer service department at the same phone number we've used since this problem began.
***** did call customer service again today and got the exact same response as before - that someone else will have to call her back.
Diane's phone number is ************, which is the phone number she uses to contact your customer service department. The customer service rep hangs and up and calls her back at that number to verify it is her....but then the customer service department can't answer any questions about her account! Instead, she's told that someone else will have to call her back.
No one ever calls back. How do you propose ***** be able to access her own account? She's tried a notarized letter from her bank, she's tried hiring a lawyer.
Please, if you will not communicate other than through the BBB complaint forum, tell ***** via writing why she has not gotten a required minimum distribution and how she should resolve the problem. Please also send her the paperwork that allows her to roll over her account to her local bank, per her notarized request several months ago. She no longer wishes to have Fidelity manage her money.

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: 06/23/2022
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from *************************** and her attorney filed under the above referenced case ID. We wanted to make you aware we have already reviewed the attorney's statement that was sent previously. We emailed the client on June 17, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments

Customer Answer
Date: 06/24/2022
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 matter is not resolved. You did not email ***** on June 17, 2022. ***** does not have an email address! Please address this issue by mailing a letter to her (at the address you have on file) for her to unlock her account and access her funds.

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: 06/30/2022
Dear Better Business Bureau:

Your organization forwarded Fidelity a rejection of a complaint from *************************** under the above referenced case ID. We wanted to make you aware we have addressed the client's complaint through multiple channels. However, it appears that an unauthorized person has been impersonating the client and corresponding on her behalf. We consider the matter fully reviewed and resolved, until we hear from the actual client or her ***** of ****************************************************************************
Initial Complaint
Date:06/14/2022
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 have been trying to get my money for Planet Fitness and a car wash. I could not get help because they require to send in mail. I have seen go in person and wait on the mail. I started the dispute in early April, and have a heard fidelity. Since then they have make impossible to use the app to see my accounts. I was in hours on the phone and still cant use my app. They dont call back, they dont help in person and now send a text saying they do have my address since March and already received mail for them.I want my money back due to unauthorized debit card charges. I want to do this without losing more time. I want Fidelity for make my app work again. I want to make sure my bank is e statement. I dont want to get mail anymore.
Business Response
Date: 06/16/2022
To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on June 16, 2022, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments

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Fidelity Investments is NOT a BBB Accredited Business.