Fidelity Investments: Friend Or Foe?

Fidelity Investments is a company that offers both robo-advisor and advisor-led wealth management accounts. While some customers have praised the company for its free robo-advisor account and $0 trading commission, others have complained about its high fees for wealth management and poor customer service. Many customers have reported issues with accessing their accounts and withdrawing their funds, with some claiming that the company has held their money hostage. There are also complaints about the competence of the company's financial advisors, with one customer stating that they are kids and not seasoned vets. Overall, it seems that while Fidelity Investments may be a good choice for beginner investors, those with more advanced investment needs may want to look elsewhere.

Poor customer service

Fidelity Investments has been accused of providing poor customer service by its customers. Many customers have complained about the company's customer service representatives, who have been described as rude, unhelpful, and incompetent. Some customers have also reported that their issues were not resolved even after multiple calls and emails. Others have complained about long hold times and being transferred multiple times without resolution. Additionally, there are complaints about the company's policies and procedures, such as not allowing customers to close their accounts or transfer funds easily. Some customers have also reported that their accounts were restricted or closed without any explanation or warning. Overall, the consensus among these reviews is that Fidelity Investments provides poor customer service, with many customers expressing dissatisfaction and frustration with their experiences.

Incompetent staff

Fidelity Investments has been accused of having incompetent staff by several customers. Some customers have complained about the staff's lack of knowledge, unhelpfulness, and rudeness. One customer claimed that the staff at Fidelity are "kids" and "not seasoned vets", while another said that the staff are "inept". Many customers have also complained about the staff's inability to resolve issues, with one customer claiming that they had to call nine employees and make seven phone calls to resolve their issue. Another customer said that the staff "don't know what they are doing" and "don't care".

Unprofessionalism

Fidelity Investments has been accused of unprofessionalism by many of its customers. Some customers have complained about the incompetence of the company's employees, who are described as "kids" and "cheap labor." Others have criticized the company's customer service, claiming that it is "horrible," "the worst," and "non-existent." Some customers have also reported that their accounts have been closed or restricted without any explanation or warning, and that Fidelity has mishandled their pension payouts, 401k rollovers, and other financial transactions. In addition, some customers have expressed frustration with the company's online trading platform, Active Trader Pro, claiming that it is "poorly usable, counter-intuitive, and cluttered." Overall, the consensus among these reviews is that Fidelity Investments provides poor customer service and often fails to resolve issues in a timely and satisfactory manner.

Lack of transparency

Fidelity Investments has been accused of a lack of transparency in its customer service. Many customers have complained about the company's poor communication and failure to provide clear explanations for its actions. Some customers have reported that Fidelity restricted their accounts without warning or justification, leaving them unable to access their funds. Others have experienced issues with transferring funds, with Fidelity imposing lengthy and unexpected holds on deposits. In some cases, customers have been unable to close their accounts or transfer their funds to another institution. There are also complaints about the company's online security and fraud detection measures, with reports of unauthorized transactions and account takeovers. Overall, the lack of transparency and accountability in Fidelity's processes has led to significant financial losses and distress for its customers.

Lack of communication

Fidelity Investments has been accused of a lack of communication by its customers. Many customers have complained about the company's poor customer service and its inability to resolve issues in a timely manner. Some customers have reported that their calls were not returned, while others have stated that they were given incorrect or conflicting information by different representatives. Others have complained about the company's failure to provide updates on the status of their accounts or transactions. Some customers have also reported issues with the company's online platform, such as difficulties accessing their accounts or placing trades. Additionally, there have been complaints about the company's response to fraud or security issues, with some customers reporting that their accounts were restricted or blocked without proper communication or explanation. Overall, the lack of communication and transparency from Fidelity Investments has led to significant frustration and financial hardship for its customers.

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