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

  238 Main St Cambridge, MA 02142-1016

• 

  Fidelity Investments

  44 Mall Rd Burlington, MA 01803-4536

• 

  Fidelity Investments

  155 Congress St Boston, MA 02110-2511

• 

  Fidelity Investments

  200 Endicott St Danvers, MA 01923-3619

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:10/06/2022

  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.

  I have a pension thur Time Warner Cable. After company merger, Pension was frozen. I was aware of that. Pension would stay as is and no movement to another institution or lump sum payment unless you resigned from ******* Communications which is the current employer. Shortly after leaving ******* I went on Fidelity and my pension account was suspended. I called Fidelity over a dozen times I. The past weeks trying to get answers. Why isnt the funds showing, they have always shown . Agent states theyre doing an audit. An audit for what? I cant tell you. So where are my funds? They are there but you just cant see them I ask how it that even a business practice? Im sorry the agent says I then say you dont expect a customer to be frantic that their money isnt showing? Your company hasnt sent an email to even notify me or an email? Sorry sir but its there What is it showing is there? I cant give you that information? This is absolutely ridiculous and not acceptable. I requesting a call with the explanation to why an audit and my options and funds or I will escalate further.

  Business Response

  Date: 10/18/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from ****************************************. We wanted to make you aware we emailed the client on October 17,2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 10/19/2022

  [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,
  
  ****************************************

• Initial Complaint

  Date:10/06/2022

  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.

  I wish to make a complaint against Fidelity Investments. This is in regard to my account number ************* August 23, 2022, I opened an online Fidelity Account on my smartphone. I entered $10,000 as the amount I had to invest when that question appeared. I chose a managed account since it would be impossible for me to choose my own investments. At the end of account creation, and still on my smartphone, I was presented with an agreement (in its own small window) I had to sign electronically. Since I had already submitted that I had $10,000 to invest and no alert appeared regarding a $25,000 minimum for a managed account, I scrolled through and submitted my signature.It turns out that I signed (or Fidelity claims I signed - there is no hard copy) a Fidelity Personalized Planning and Advice ("****") account, the minimum investment for which is $25,000. I did not know this until later.After opening the online account, I called Fidelity's 800 number from my home phone. I was directed to *************************, who would be on the phone while I funded my account. I told her I was investing $10,000 and put the money from my JPMorganChase checking account in the Fidelity account. ***** never once informed me that the **** account minimum investment was $25,000.Two days later, on August 25, I received an email informing me that I had to meet the required investment for the **** account of $25,000. I called Fidelity to close the account, but the representative told me to call back the next day when the money had "settled".I called on the morning of August 26 and spoke to ***********************. He quoted $9,999.97 as the amount to be deposited back in my Chase account. However, it turned out that several trades were already in process. Those trades settled on August 29 with short-term losses, bringing my balance to $9778.04. I lost $221.96.I have communicated all of this to Fidelity. They have declined to compensate me for market movement.

  Business Response

  Date: 10/11/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from ***************************. We wanted to make you aware we sent an email to **************** on October 7, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments
  

  
  

  Customer Answer

  Date: 10/18/2022

  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:10/06/2022

  Type:Service or Repair 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.

  We have a stock brokerage account with this company. We recently had insufficient funds from our account, and this company will not release our money.

  Business Response

  Date: 10/12/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from ***********************. We wanted to make you aware we spoke with the client on October 11, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 10/12/2022

  [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,
  
  ***********************

• Initial Complaint

  Date:10/05/2022

  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 opened a fidelity cash management account in July 2022. After opening the account I got a debit card and set up direct deposit. Days later after literally 5 transactions, two being deposits into the account, I got an email that they no longer want to do business with me. They refused to explain why all they could tell me was that fraud department could tell me more. I was transferred and told once again that they couldnt explain why they closed the account but fidelity will not longer be doing business with me. I thought it was odd Ive had a 401k with them for years. They told me they would be closing every account I owned with them including my 401k and blocked all access to the account. I was furious but understood they can do business with who they chose and asked them to mail me all my money in the accounts. They have been refusing me my money since they closed the account. For three months I have been calling daily requesting my funds. Everyday I call I get a new reason why they cant give me my money back. They cashed a check I put into the cash management account and refuse to give it back to me. They have requested several documents which I have sent every single one of them. If I do not get my money back I will be reaching out to a lawyer! You can not hold peoples funds and not give explanation. This has caused me a huge issue within my personal life!

  Business Response

  Date: 10/11/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint filed under the above referenced case ID.
  
  We contacted our client directly on July 20, 2022, and are currently working on a resolution. We can close the account per the customer agreement. We informed the client in order to recall the funds, she will need whatever documentation the maker of the check requires. We consider this matter closed with the BBB.
  
  Sincerely,
  
  *****************
  Fidelity Investments

  Customer Answer

  Date: 10/12/2022

  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. 

  I submitted the documents requested by the bank which were the last bank statement (which showed the amount of the check the refuse to release), a drivers license, and bill matching my address. After providing these documents I called to check if they received them they acknowledged they did however I was told they will not release my money to me with no further reasoning or any further instruction. 
  
  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: 10/17/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *****************************. We wanted to make you aware we spoke with the client on October 5, 2022, 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: 10/17/2022

  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. 

  how can it be resolved when you didnt give me my funds I had in the account when it was closed. Withholding my money when nothing was owed to fidelity is not a resolution!!! 
  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:10/04/2022

  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.

  On 10/3/22 I spoke with a supervisor out of the ****** call center named *******************************. He advised me that the Fidelity policy on brokers identification requests from clients had recently changed and that brokers were not required to provide their last name, but were required to provide CRD number.On 10/4/22 I spoke with agent ***** and had some questions. Before he put me on hold I asked him to provide either his last name or his crd number. He refused to provide both. He advised me his supervisor advised him he does not have to provide his last name, nor his crd number. I would like to get a clarification about the finra/sec requirement for broker identification.I want a call back.

  Business Response

  Date: 10/05/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *****************. We wanted to make you aware we emailed the client on October 5, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

• Initial Complaint

  Date:10/04/2022

  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.

  I needed to make a large purchase using my cash management card Friday 9/30. I called Fidelity card services to notify them that I would be making this purchase, so they validated me to make sure everything went smoothly. I made the purchase, immediately after my entire account was restricted and put under investigation, this is not the worst part of the situation. No one contacted me to notify me that my card was restricted or even the fact that they felt there was suspicious activity. When I called card services inquiring about this, no one knew what was going on and ultimately put me on hold to hang up on me 3 times by 3 different agents. I was advised I could not access my funds or use my debit card and that agent would call me Monday to resolve this issue that began Friday. I not only did not receive a call, I had to call in Tuesday 10/4, on my birthday to request they finally remove this restriction on my card. They did more validation, then on the phone I was informed they lifted the restriction. After I got off of the phone, it turns out there is still a restriction on my debit card as we speak, hours after the call! I have validated with them everyway they have requested yet my debit card, not credit, debit card is still being restricted. It is not only terrible business practice, but negligence in restricting a client's debit card with no intention of contacting them and no way to remove the hold in a span of 4 days. This is a Debit card, not a line of credit. Fidelity does not really care about card security, if they did they would have called me to inform me about suspicious activity on my debit card. Fidelity also does not care about its clients, if so they would not have left me stranded unable to buy gas without being able to use my debit card after validating with them!

  Customer Answer

  Date: 10/15/2022

  [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,
  
  *****************

• Initial Complaint

  Date:10/03/2022

  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.

  I opened an individual brokerage account on Sep.27, 2022. After receiving an account confirmation, I deposited a check from my ***** Fargo saving account to this account. The next day, I placed a new issue CD order, but I canceled it immediately because of a mistake. Then Fidelity restricted my account. I called the customer service line, but they didn't know what caused this restriction and required two documents to unlock my account. One is a recent 60 days statement of the bank where the check was deposited, and another one is my driver's license. Since ***** Fargo only provides quarterly statements for savings accounts, the date of my most recent statement was ***** Also, my driver's license has an attachment issued from DMV in 2020 for updating my new address. I submitted the above documents to a Fidelity branch. They told me that their system only has my old address on my driver's license, not match the current one on my account application. As a result, they refused the attachment of my driver's license for proof. Then, they asked for an extra utility proof with my name. Or, the person on the utility bill should physically show and certify a letter for me. They also rejected my quarterly statements from ***** Fargo and kept insisting that each bank provides customers with monthly statements. Obviously, I was not able to complete all requirements immediately. I spent one-hour driving to the branch to submit documents and at least two hours explaining my situation and waiting for a response from the banker and customer service. They were friendly, but no one responded to me with the exact reason for this restriction. The only choice to make my funds active was to recall the check from ***** Fargo, which charged me $31. I suspect the process of Fidelity approving accounts with uncleared identity issues. Why didn't they check out the issue before opening an account and accepting funds? They are wasting their customers' time!

  Business Response

  Date: 10/12/2022

  To Whom It *** ********************************* forwarded Fidelity a complaint filed under the above referenced case ID.
  
  We contacted our client directly on October 11, and are currently working on a resolution. We consider this matter closed with the BBB.
  
  Sincerely,
  
  Fidelity Investments

• Initial Complaint

  Date:10/03/2022

  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.

  Changed jobs in August 2022, sent request for 401k and *** account to be rolled over to new investment Company. Filled out required paperwork from their website and sent Certified Mail. Received letter that they could not send a check for the amount that they told me. After that was resolved by telling them to send me the balance of the account, which was a few cents difference, that my name on the *** account did not match. I contacted them and stated that I sent the name change request form and a copy of Marriage license back in May of this year, I sent them an email with same information, and faxed them. Received a letter today with a reference number that the form does not indicate any changes to be made and no name change was made. I called them and inquired about the issue and they stated they have no information for this, I gave them the reference number that they sent to me in the letter and after an hour on hold was told to send it again. I have made multiple calls to Fidelity regarding my transfer and have received nothing but rude **************** Representatives and instructions to do the same thing I've already done multiple times to no avail. They are refusing to cooperate, they are not fulfilling my request to change my name or to transfer funds to new investment company, I am left on hold for hours at a time, I am insulted by the representative when asking the basic question of how I can transfer my funds to my new investment company and get nothing but the run around. I am a Latino female and beginning to feel like I am being discriminated against based on my nationality and gender and may seek legal council if they cannot resolve.

  Business Response

  Date: 10/04/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *****************************. We wanted to make you aware we emailed the client on October 4, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments
  

  
  

• Initial Complaint

  Date:10/03/2022

  Type:Order 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 harassing me through email and continues to send correspondence to me after I have explicitly requested them to stop. I have a closed account with Fidelity and it has been closed for almost 1 year. Fidelity continues to send me harassing emails and continues to send alerts to view blank statements on a closed account. Upon logging in, I have no valid statements as all of my accounts with Fidelity are closed. No other bank has continued to send me statements into perpetuity on a closed account as Fidelity has. I am requesting the BBB to mediate the senseless correspondence being sent to me from Fidelity on a closed account. My account has been closed for nearly 1 year and I have repeatedly asked Fidelity to cease communications with me as I am no longer their customer. In my most recent attempt at contact with Fidelity, I contacted Fidelity through their website portal and and had my account access blocked. I am now not able to log into the customer portal but continue to receive reminders to log in and view monthly statements on a closed account. I feel harassed by Fidelity as I am continuing to receive email alerts for statements on a closed account that I have no access to log in to anymore.

  Business Response

  Date: 10/04/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *************************. We wanted to make you aware we sent the client an email on October 4, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 10/05/2022

  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.]
  Fidelity sent an email to my account which is blocked from login. According to Fidelity risk department, I cannot login to the closed account. Therefore I am unable to read any such email that Fidelity claims to have sent me. 
  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,

  Mario

   

   

  Business Response

  Date: 10/11/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *************************. We wanted to make you aware we sent the client a letter on October 10, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 10/12/2022

  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,

  Mario

   

   

• Initial Complaint

  Date:10/03/2022

  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.

  March 2020 I had a bit of cash account with Fidelity investments they simplified count three days prior to opening my account due to fraud department I sent over every paperwork I would like my everything and I will be inside the office branch Camila ********* they wont give me my money is in the two years just a part of my $320 check

  Business Response

  Date: 10/04/2022

  Dear Better Business Bureau:
  
  Your organization forwarded Fidelity a complaint from *********************. We wanted to make you aware we emailed the client on October 4, 2022, to address the client's complaint. We consider the matter fully reviewed and resolved.
  
  Sincerely,
  
  Fidelity Investments

  Customer Answer

  Date: 01/19/2023

  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. 

  I had open a cash management account with this investment bank. When I open account I had deposited two checks from EDD unemployment that were made out to me each one was ****** dollars even. Well fidelity went ahead and said that they were closing my account do to fraud that they needed to verify that the checks will not come back unpaid or stolen so for me to give them ten additional business days for the checks to clear well long story short they haven't released my money or unblock my account I've fax over and over documents that they wanted I have been into the branch and was help by a manger she said everything is great and didn't understand why they were holding my money she verified my identity and she faxed over my documents and ask them. Why was there a hold on my account they told her it was none of her business and next thing I know she no longer works for them anymore I'm getting no where with them so I will need to seek civil rights after this now this is considered embezzlement.