Complaints

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

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• 

  Fidelity Investments

  245 Summer Street Boston, MA 02210-1133

• 

  Fidelity Investments

  82 Devonshire St Boston, MA 02109-3614

• 

  Fidelity Investments

  500 Salem St Smithfield, RI 02917-1288

• 

  Fidelity Investments

  405 Cochituate Rd Framingham, MA 01701-4648

• 

  Fidelity Investments

  801 Boylston St Boston, MA 02116-2625

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:01/25/2023

  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.

  My mother-in-law is 92 and a customer of **********************. She has two accounts; one for day-to-day, one for investing. In the latter she has cash set aside for expenses which we transfer as needed. Yesterday I was trying to help her move money to cover her rent which is due next week. There was an error. We tried to resolve it online, but had to call. The rep said that my mother-in-law had to have a power of attorney, her account was frozen. I told him that she needed those funds to pay her expenses. He actually suggested that she sell shares of stock to cover her bills. He said this was a requirement for her protection - but it is preventing her from paying her rent which is in her best interest. I asked him how this happened. He said that they had been sending her letters since last summer, but still did not explain what triggered this act. Could it be ageism?I asked my mother-in-law and she said maybe she received something, but hadn't requested it so thought it was junk mail. I asked the rep who made this decision, he said 'back office'. I am furious and frustrated. I feel bullied and abused by the big, bad corporation. I live out of state and will be making the trek next week to try to get this resolved. I live in *****, but my mother-in-law lives in *************. I am concerned that this is a common practice. I wonder about people who don't have family who can intercede for them. I'd like to know the qualifications of the anonymous back office clerk who made this decision. Who made this decision to freeze my mother-in-law's account? What remediation is available in this circumstance?

  Business Response

  Date: 01/26/2023

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *************************. We wanted to make you aware we emailed the client on January 26, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

• Initial Complaint

  Date:01/25/2023

  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 breached its duty of care. If any security measures were undertaken, and there to appear to have been none, a withdrawal of $100,000.00 from an elderly woman's account, causing said account to become a margin account which was totally of the norm, without triggering any protective measures from Fidelity is negligence per se. Supposedly if there was a withdrawal of $100,001, the withdrawal would have been double verified and thus prevented.$100,000.00 was withdrawn from my Fidelity brokerage account, Z67-971499, on June 8, 2022, without double verification, putting the account $83,375.36 on margin, which was out of the norm. Fidelity then bounced some of my checks, while cashing some, not giving me a reason. My attorney mailed a letter to Fidelity August 29, 2022, but the letter was not received nor acknowledged until January 8, 2023.

  Business Response

  Date: 01/31/2023

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from ***********************************. We wanted to make you aware we emailed the client on January 31, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:01/23/2023

  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.

  I have a brokerage account that fidelity will not let me access. My money is in the account but I cannot do anything with it I cannot receive tax forms required to file. They are accusing me of fraud when I did nothing fraudulent. I am a tax preparation professional and years ago I use to use my fidelity account for business purposes authorized by my clients. I am not allowed to get an account with Fidelity for no reason. They never allowed me to address the allegations or inform me of the allegations. I want fidelity to release my account and allow me to open a 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 emailed the client on January 24, 2023, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 01/25/2023

  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,

  Daisy

   

   

• Initial Complaint

  Date:01/20/2023

  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.

  In 2014 I open a RESP with ******* ***** for my daughter. When the account was open I was advised about the government ****** Due to inflation in December of 2022, I requested my adviser at EdwradJones to close the account that had a balance of $32000. I was unable to close the account only withdraw from but and the ***** was returned. When I asked why am I unable to close the account my advisor explained that Fidelity would not close the account it would have to open for 10 years and the . When I contact Fidelity about this policy and where does it state this information I given the run around and stated that they don't have any official documents to show this policy and I did not sign any document advising this policy. There is currently a balance of $7000 in the account and I am requesting Fidelity to close the account since I no longer qualified for the ****** They are not trying the resolved this issue only ignore it.

  Business Response

  Date: 01/30/2023

  To Whom It *** *************************************** forwarded Fidelity a complaint filed under the above referenced case ID.
  
  We contacted our client directly on January 30, 2023, and are currently working on a resolution. We consider this matter closed with the BBB. 
  
  Sincerely,
  
  Fidelity Investments

• 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