Fidelity Investments 401K Services
(21 Epinions reviews)
Epinions Product Rating:
Stay Away from Fidelity (Mis)Managed Accounts
Jun 21, 2012
Review by miquet
Pros:Salesmen are very polite
Cons:Salesmen don't follow up with your account and you'll probably get lost in the shuffle.
The Bottom Line: Go to a local bank and find a financial advisor to handle your money. This way you'll have someone accountable for handling your account.
In early May 2012 I signed up for a Fidelity Managed account. The salesman was nice and seemed informative but it went downhill from there. I wanted to transfer money from a credit union CD to the managed account. I was under the impression that it would not take long to do this. However, a few days later the salesman called and left a message at work that it would be transferred by the 15th. I assumed 5/15/12. It turned out he said 6/15/12. (Had I known from the start it would take this long I would have withdrawn the money in person and mailed it to Fidelity and had my money moved in a few days.) However, six weeks later no one contacted me so I went online and checked my account to find that my money was sitting in a Money Market fund with a interest rate of 0.01% and had never been invested as promised. Needless to say, I wasn't happy. It's now been almost seven weeks (June 21, 2012) with my money not invested so I want to pull it out and now they have the audacity to want to charge me $50 for closing the account! I've had to explain this story to Fidelity representatives several times. Now I have been on hold for almost forty minutes waiting to talk to someone about having the $50 fee waived.
Recommend this product?
My advice is to use a local financial advisor instead of Fidelity Managed accounts. Find someone you can talk to in person. Check with your local bank. They often have financial services. Just don't use Fidelity.
Share this product review with your friends
Buy IRA and 401(k) Investment in Real Estate by Stephen L. Smith and Read this Book on Kobo's Free Apps. Discover Kobo's Vast Collection of Ebooks To...
fidelity vintage deck, transmissions model. new. shipping is 25 usd to all countries usa, canada, australia, europe - 25usd
Sizes Available: 13.0 D. Embrace your masculine sense of style with the High Fidelity boots by Eastland.Leather upper in a casual boot style with a ca...
Sizes Available: 12.0 D. Embrace your masculine sense of style with the High Fidelity boots by Eastland.Leather upper in a casual boot style with a ca...
Add timeless appeal to your weekend wear with the High Fidelity boot from Eastland®. Smooth leather upper with a traditional lacing system for easy on...
Musical Fidelity V-CAN Headphone Amplifier - Musical Fidelity V-CAN: An Incredible Value in Headphone Amps The Musical Fidelity V-CAN headphone amplif...
Cap toe boots provide both comfort and style for all your weekend adventure but are stylish enough to rock during the work week, too. Wear them everyw...
Mens Casual Boots from Eastland: Eastland Men's High Fidelity Boot - Tan. Leather Casual Cap Toe Boots. Sizes: 11 Widths: Medium (D). This classic ca...
PRO 500 High-Fidelity Premium Over-Ear Headphones (Racing Blue)
Yamaha Pro 300 High-Fidelity On-Ear Headphones, Blue The Yamaha Pro 300 High-Fidelity On-Ear Headphones (Blue) incorporate a proprietary driver design...