Business Profile

Mutual Funds

Fidelity Investments

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mutual Funds.

Complaints

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

Customer Complaints Summary

1,357 total complaints in the last 3 years.
589 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:03/06/2025
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 invested in a Fidelity **************** Fidelity Large Cap Growth Index Fund (FSPGX). After review of performance of the fund through February of 2025 I found that the fund did not appear to be trading for two days 2/18 and 2/19. I called a Fidelity representative and discussed my concerns and the representative emphatically stated that their could not be an error and that the fund remained unchanged for 2 consecutive days. I explained to him that there appeared to be a computer glitch since up until 2/20 the performance date stated 2/14 and the cost remained $40.61. This was impossible to have no gains or losses during this period especially with the market showings gains. Fidelity is not willing to look at this fund, they simply state there was no error. I would like to request gains earned during 2/14-2/19 to be accredited to my account.
Business Response
Date: 03/09/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***** *****. We wanted to make you aware we emailed the client on March 7, 2025, to address their complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Customer Answer
Date: 03/10/2025

Both responses do not specifically address the issue. I would like to see factual data of the funds transactions throughout those days. There should also be time and date stamps for the running trades to show that the fund was in fact operating as stated.

Thanks,
*****

Business Response
Date: 03/20/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***** *****. We wanted to make you aware we provided a final response to Mr. ***** on March 19, 2025, to address his complaint. We consider the matter fully reviewed and resolved. We regret Mr. ***** is unhappy with our response.

Sincerely,

Fidelity Investments

Customer Answer
Date: 04/01/2025
I do not feel that this has been resolved. Fidelity simply states that the lack of trading for the days stated was accurate without fully examining the trading logs.
It is obvious that there was some kind of technical problem that prevented the trading. For Fidelity to simply say that the case has been resolved is wrong.
I believe Fidelity may know that there was an error and if they acknowledge could cost them a considerable amount of money in restitution.
I hope Fidelity will further investigate my claim and present to me proof of their assessment, without the further research and documentation how could anyone really accept their contention that trading did in fact occur during the reported period.
I still expect restitution for suspended trading.
Thank you
*****
Initial Complaint
Date:03/06/2025
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 have deposited two checks using the mobile app on 2/24/25 and Fidelity has not informed me there was a 10 business day hold 3/9/25. Not having access to these funds has caused harm to my business and the only option to stay afloat was to take funds out of my 401K resulting in 40-50% tax. Once I spoke to a manager ***** ***** in Client Services he was so rude and refused to help assist me in a resolution or to even transfer me to someone else. He said to hang up if I wished to speak with someone else. Before speaking with Arius, I spoke with a previous manager over the weekend and who said it would be ok to verify the funds with the bank the check came from to make the funds available sooner. That was not the case; there has been no accountability, consistency or understanding and the severity of this bank and customer service has been disturbing.
Business Response
Date: 03/09/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ******* ****. We wanted to make you aware we emailed the client on March 7, 2025 to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/05/2025
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.
The claim is toward Fidelity Investments which manages my ************** Flexible Spending Account. Date of **************/01/2024 The amount of money I have paid is $2100. The amount of money I am claiming against my ************** FSA is $575 for 2024, and additional $575 for 2025.I have enrolled my son (my dependent), ******, a 11-year old boy, for ************************** a soccer camp service, in *********. I have made total payment of $2100. I have attached payments as a claim to Fidelity to reimburse the balance in my ************** FSA account, which is $575 in 2024.Fidelity denied my legitimate claim without valid reason on 12/31/2024. I feel it is a normal practice from them to routinely deny customers' claims. On 01/24/2025, I received a call from a Fidelity representative named ****** to handle my case. She asked me to get an updated receipt from the service provider to state that the service is for a soccer camp. On 03/02/2025, I filed the same claim again with the updated receipt from the *************************, explaining the payment is for a soccer camp from ******* to *******. However, my claim was being delayed. It is really burdensome for this business to handle my legitimate claim.First, I need Fidelity to process my claim TIMELY. Second, I ask for an official written apology from Fidelity about the time I waste to deal with the issue of their routine denial. I have consulted my corporate HR department, and I got the following answers. In addition, I have made similar claims in the past years, they have no issue in being processed and reimbursed.Yes, a dependent care flexible spending account (DCFSA) can cover the cost of a day camp for a qualifying dependent, including soccer camp, as long as the camp allows the account holder to work, look for work, or go to school full-time: The child must be claimed as a dependent on the federal income tax return.
Business Response
Date: 03/11/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity complaint #******** from ** ****. We wanted to make you aware we addressed similar BBB comments from ** **** on BBB complaints #******** and #********.

We called the client on January 24, 2025, to address the client's complaint. Additionally, we emailed the client on February 8, and January 31, 2024, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret ** **** is unhappy with our responses.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/05/2025
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.
In December24 I reached out to the Fidelity Pension Benefit team to verify that Ill be able to withdraw my pension benefit in the form of a lump sum when I quit my job to continue my education full time. Their representative confirmed that it would not be a problem. I proceeded to quit my job on January 6th 25 and promptly requested a payout. The pension team then changed their story and claimed that a lump sum payout is not possible due to an active **** on file. After several conversations back and forth, I hired an attorney to have the **** vacated. My ex wife willingly agreed and signed the request, since she already received her portion of my pension. The request to vacate was presented to the courts and signed by a judge. Even though there is a legal order to vacate the ****, Fidelity refuses to comply by the order, claiming administrative difficulties. I am not concerned with Fidelitys administrative difficulties. That is their problem. All I want and NEED is a lump sum payout of MY money that they are holding hostage. The reference number for the request Ive made to Fidelity is W163718-26FEB25.I need this issue resolved ASAP because Im in desperate need of these funds due to no current income. This would never have been this urgent if Fidelity did not deceive me in December 24 with the assurance there would not be any issues.
Business Response
Date: 03/13/2025
To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.

We contacted our client directly on March 12, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/04/2025
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 Federal for the tax year 2020 told us that our hardship withdraw for covid didn't need to have taxes taken out, therefore we didn't have them take the taxes out before they gave us the withdrawl amount like we always have they do when we withdraw from our 401k. They also never mailed us our 1099R form like they are required by the *** to do but they did report to the *** I didn't even know I needed a 1099R form or that I had to file on that money till the *** came after me. Then the *** came after us for over $16,000 that I didn't even know I need to file on because Fidelity told us it wasnt taxable since it was a disaster relief and I never received the 1099R form that would have told me I need to file on it. So now because of their mistake I was audited and owe the *** money I Don't have and can't afford.
Business Response
Date: 03/09/2025
To Whom It May Concern:

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

We contacted our client directly on March 6, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/04/2025
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.
I 've been a customer with ********************** for over 20 years. I logged on to my account and receive a message that says "(******) The account specified in this order is restricted. Please call a Fidelity representative at **************". I call Fidelity and am told by three representatives that my account has been "discontinued" with no possible re-opening. When I asked why I was told the people in the "back end" made the decision and that this is all that they can tell me. Oh, and I cannot speak to anyone, manager and/or "back end" individual. The only thing all three individuals I spoke with could tell me is "We can discontinue your account for any reason at any time." I am appalled that this is how a customer is treated. So unprofessional and downright disgusting. I believe this has something to do with opening up a business account, which I did about a year ago and there were many problems. Many papers and messages to be signed and or acknowledged. Perhaps there was a mistake made but I do not know why that would cause them to "discontinue" my personal account.
Business Response
Date: 03/05/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ******** *******. We wanted to make you aware we emailed the client on March 5, 2025, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments

Customer Answer
Date: 03/10/2025
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 letter Fidelity sent me just reiterates that my account has been closed. This is the phrase that was used in the letter as well as by every ***resentative "We can close your account, or terminate any optional feature, at any time, for any reason, and without prior notice." Lovely way to treat a customer of over 20 years. I do not think that the letter I received explains to me, in any way, shape, or form, why Fidelity decided to take this action. They explain that this was stated in the paperwork I filled out over 20 years ago. This complaint is not about whether or not Fidelity can or can't do this, this complaint is that I do not know why this was done. The ***resentatives are unwilling to even let me speak to a supervisor, one hung up on me and another stated in a nasty tone, we will not do business with you. Now I understand that they're saying that they "sent" me a letter concerning this issue. One *** said it was mailed and another *** sent it was sent internally, which by the way is not in my communication. Be that as it may, I DID NOT receive it. Is it too much to ask WHY? What is Fidelity's issue with just resending whatever letter they say they sent me? One ***resentative said they know it was sent because they have it. Perhaps you do, but I DO NOT! I ask again, why I am not entitled to know the reason for the action?

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: 03/13/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ******** *******. We wanted to make you aware that we emailed the client on March 12, 2025, to address the client's complaint. We consider the matter fully reviewed and resolved. We regret that Ms. ******* is unhappy with our response.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/04/2025
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.
January 2024 ************* pension plan recordkeeping services moved to Fidelity Investments and deposits to my account dropped from $1116.54 to $1080.10 per month to date. I never received any notices from ** or Fidelity of any income changes other than tax table withholding **************** bank deposits from ******************** was $1116.54 with NO State or Federal Taxes WITHHELD for many years till Fidelity began services. After numerous calls to Fidelity Investments ************ I learned they began taking out state tax of $22.14 and can not explain where the rest of the $36.44 went. Fidelity Investments have apparently lost or taken $14.30 from my pension for more than a year now without any expiations.Fidelity Investments stated "Your tax-withholdings elections on file with ************* as of December 2023 will be loaded to Fidelity's systems and applied to your January 1, 2024, payment."I finally received on February 28 after calling Fidelity a 1099-R to fill and have all the taxes returned at a cost to me for filing.Needless to say this has been a nightmare to deal with and IS NOT OVER.Fidelity Investments *************************************** GE HealthCare Retirement ************** ***************************************
Business Response
Date: 03/10/2025
To *************************************************** forwarded Fidelity a complaint filed under the above-referenced case ID.

We contacted our client directly on March 7, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer Answer
Date: 03/15/2025
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
Date: 03/25/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from **** *****. We wanted to make you aware we sent a letter on March 13, 2025, and a follow-up email on March 25, 2025, to address the client's complaint. We consider the matter fully reviewed and resolved.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/04/2025
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 blocked online access to my 401k due to my employer being a business risk. This means I missed out on trading my account as they would mail me paper statements and put me on the phone with an Fidelity advisor. As I can not choose where the employer holds the 401k, this violates anti competitions rules and I have lost money not being able to see my balances in real time. This is not legal. I am no longer an employee of the company and I still can't log into my account. In addition, I tried to rollover my 401k yesterday and because of the flag of my employer being a business risk, they wouldn't verify me. I lost $2,500 in one day because I couldn't roll the money out and liquidate the account. They also told me I would never have online access to a Fidelity account again unless I mail or fax a letter of instruction to their PO Box. What if my next employer holds their 401k there? I can't choose that and it can't be legal for them to do that.
Business Response
Date: 03/12/2025
To ********************************************* forwarded Fidelity a complaint filed under the above referenced case ID.

We contacted our client directly on March 12, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Customer Answer
Date: 03/12/2025
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 business said this should be closed, but this is false. They reached out but they are researching it and there has been no resolution. This should remain open while they research it.

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: 03/20/2025
Dear Better Business Bureau:

Your organization forwarded Fidelity a complaint from ***** ***********. We sent a letter to the client on March 19, 2025, to address the client's complaint. We consider the matter thoroughly reviewed and resolved.

Sincerely,

Fidelity Investments
Customer Answer
Date: 03/24/2025
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.
This is far from resolved and they are ignoring me now. They have not researched anything and "the letter" is attached. Theere is absolutely no resolution. They are violating ERISA rules, anti-competition rules, and cost me thousands of dollars blocking me from logging into my account to trade it and preventing me from rolling it over with the extra verification. This needs immediate attention.

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:03/03/2025
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.
I have been trying to access my 401K account with ********************** for several months now and have been unable to have my issues resolved. I received a letter from Fidelity Investments several months ago which I no longer have. I called and spoke with a representative on 3/3/25, who states that they are not able to provide me any information on my account unless I was able to send a picture of my NYS ID. After trying to do so for 52mins to the link they texted to me, they are now stating I will not be able to access my account, To state I am frustrated is to an understatement and I am now asking your agency for assistance, Can you please, help me with resolving this issue.Thank You
Business Response
Date: 03/05/2025
To ********************************************* forwarded Fidelity a complaint filed under the above-referenced case ID.

We contacted our client directly on March 5, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments
Initial Complaint
Date:03/03/2025
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.
References to Fidelity's system:W523202-17DEC24, W595635-18DEC24, W233539-28JAN25, W743782-04FEB25 I initiated a transaction with the Fidelity Group that overseas my 401k on 17 Dec 2024. This transaction should have been simple but Fidelity made an error. I caught the error on 19 Dec, called to have it fixed to ensure there was no taxable transaction for 2024. From then on, numerous failures on Fidelity's part occurred including incorrect information provided to me multiple times, not escalating the problem appropriately, and not reversing the error by the end of the year. Fidelity has taken zero responsibility for these multitude of errors which is costing me extra taxes for 2024. I was told to file a complaint in writing on 04 Feb 2025 explaining the issue and what resolution I desired. I did so, requesting Fidelity pay the taxes that I was going to incur based on their errors. Per Fidelity's own policy, they have 15 business days to review and respond to each "work order"...which would have been 26 Feb 2025. 26 Feb has come and gone and Fidelity has still done nothing. I called again today 2 March 2025 and they cite a letter they sent from 19 Feb telling me that they received my complaint, but nothing else.I officially requested Fidelity credit my account a total of $356.89 which would be the amount I owe for Federal, State and local taxes based on the ~$1k error. I have truly been stunned at how poorly this has been handled. Humans make mistakes, but the company has the responsibility to be accountable for their employees and rectify those mistakes in a timely manner.
Business Response
Date: 03/09/2025
To Whom It May Concern:

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

We contacted our client directly on March 4, 2025, and are currently working on a resolution. We consider this matter closed with the BBB.

Sincerely,

Fidelity Investments

BBB Business Profiles may not be reproduced for sales or promotional purposes.

BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.

Cookies on BBB.org

Complaints

Customer Complaints Summary

If you've experienced an issue

Filter and sort by

Sort by

Complaint status

Complaint type

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Complaint statuses

Business Response

Customer Answer

Business Response

Customer Answer

Complaint statuses

Business Response

Complaint statuses

Business Response

Fidelity Investments is NOT a BBB Accredited Business.