Fidelity Investments Reviews & Complaints: Scam or Reputable?

Fidelity Investments
Google: N/a
BBB: 1.17/5 A+
Trustpilot: 1.3/5

Fidelity Investments is a multinational financial services corporation based in Boston, Massachusetts. Founded in 1946 as Fidelity Management & Research, it has grown into one of the world's largest asset managers, with $4.3 trillion in assets under management as of December 2022. Fidelity Investments operates as a brokerage firm, managing mutual funds, offering investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance. Their rating by Focus on the User stands at 1.4/5.

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Featured Reviews

Top Review

Featured
Doug
5 stars
USA

"I don’t understand all of these one star reviews of Fidelity. I’ve been using them for 25 years and have had no issues. You can speak to a live representative 24..."

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Top Complaint

Featured
Holly
1 star
USA

"Fidelity's customer service leaves a lot to be desired. 1. I don't understand why the online chat representative cannot solve the same problems as the phone..."

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What is Fidelity Investments?

Fidelity Investments was established in 1946 by Edward C. Johnson II. It's headquartered at 245 Summer Street, Boston, Massachusetts. The company specializes in various financial services and is known for its extensive asset management capabilities. With assets under management valued at $4.3 trillion and assets under administration totaling $10.3 trillion as of late 2022, Fidelity is a significant player in the financial services sector. It operates a brokerage firm and manages a diverse range of mutual funds. The company is also involved in providing fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance services.

Fidelity Investments Ratings

Fidelity Investments Reputation

Focus on the User Review
Focus on the User
1.4/5 stars
696 reviews (Aggregated)
Google Reviews
Google Reviews
N/a stars
N/a reviews
BBB Reviews
BBB
1.17/5 stars A+
180 reviews
Trustpilot Reviews
Trustpilot
1.3/5 stars
516 reviews

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Fidelity Investments Reviews

Top Fidelity Investments Reviews

5 starsFeatured

"I don’t understand all of these one star reviews of Fidelity. I’ve been using them for 25 years and have had no issues. You can speak to a live representative 24 seven. They also handle the 401(k) and retirement payments from General Motors. If you’re someone who likes to use a debit card, there are no charges, no matter where you get your cash from. The credit card company they have in-house is the best. I get 2% back on every purchase no matter what it’s for. The mobile app is excellent. It shows all my accounts and all activity I have never had more than a minor issue and it’s always been taken care of promptly. They work so well for me that I have no need of any local bank."

Trustpilot Reviews
Doug
USA
5 stars
5 starsFeatured

"I initially used to use robinhood, but decided to switch to an actual brokerage and only had great experiences. Lots of investment options (stocks, etfs, mutual funds, bonds, cds, and more), great customer service when I needed to call, and the option to make it as your primary "bank" with a debit card and checks. I don't have checks but I have a debit card for a cash management account and I love that all atm fees are reimbursed. And they are always making improvements to the website and their offerings. I also like the fidelity zero mutual funds where the fee is zero. I'm recommending Fidelity to anyone if the conversation of stocks or investments comes up."

Trustpilot Reviews
Steven
USA
5 stars
5 starsFeatured

"I have been calling all my 401k companies this week to request rollovers. I can honestly say, Fidelity had the best customer service phone prompts, and especially customer service representatives. :)"

BBB Review
Todd D
USA
5 stars
5 starsFeatured

"Wonderful customer service. Couldn't be more happy having my account here. Low to no fees on international transfers and many etfs."

BBB Review
Stacy D
USA
5 stars
Fidelity Investments Complaints

Worst Fidelity Investments Complaints

1 starFeatured

"Fidelity's customer service leaves a lot to be desired. 1. I don't understand why the online chat representative cannot solve the same problems as the phone representative. I had to call the phone line for help. 2. Fidelity referred me to a Retirement services Rep...who misinformed me about beneficiary designations which I needed to update while I was out of the country. It was time sensitive in case something happened to me while I was traveling. This resulted in me overnighting the documents only to find out the beneficiaries couldn't be updated the way the rep told me to. Fidelity wouldn't reimburse me for the shipping $. 3. Except for 1, their phone representatives were unprofessional."

Trustpilot Reviews
Holly
USA
1 star
1 starFeatured

"I agree with most of the comments here. Their call center is rubbish. Consistently on hold for 30 mins to an hour and then get below average answers and what seems to be the run around. They actively discourage investments from outside funds (ishares, Schwab, etc), even though they offer this as a service. They charge commissions and have de-activiated auto-rebalancing for any outside funds. In my opinion, this is unfair and anti-competitive, as they know the vast majority of us are stuck with them as a function of our 401k."

Trustpilot Reviews
Love M
USA
1 star
1 starFeatured

"Fidelity just issued a 17k equity call, essentially freezing my account, for PDT despite the fact that prior to placing my ONE manual stop loss trade my counter was at ZERO! Furthermore I called and got multiple assurances that I was in compliance on a recorded line before executing the trade. They are corrupt or extremely incompetent and apathetic. They refused to offer a resolution so I will now close my account. Beware."

BBB Review
James K
USA
1 star
1 starFeatured

"Good reason not to accredit. No consistency, lies, broken promises, looong holds, misinformation or missing info. Very disappointed in customer (dis)service. Need to get all in writing for credibility."

BBB Review
Diana L
USA
1 star

Is Fidelity Investments a Scam?

Fidelity Investments is not a scam. It is a reputable and well-established financial services corporation with a long history dating back to 1946. Despite its low rating of 1.4/5 on Focus on the User, the company's size and scope of operations confirm its legitimacy.

Fidelity Investments Pros and Cons

Pros

  • Pro: Extensive Asset Management - As one of the largest asset managers globally, Fidelity offers a vast array of investment options.
  • Pro: Diverse Financial Services - Offers a wide range of services, including investment management, financial planning, and wealth management.

Cons

  • Con: User Rating - Has a low rating of 1.4/5 on Focus on the User, indicating customer dissatisfaction.
  • Con: Complexity of Services - The wide range of services can be overwhelming for some clients, making it difficult to navigate their options.

Fidelity Investments Services and Products

Fidelity Investments provides a comprehensive range of services and products. These include investment management, stockbroker services, financial planning, and wealth management. Their product lineup is designed to cater to various financial needs, from retirement planning to investment in mutual funds and life insurance.

Fidelity Investments FAQ

Is Fidelity Investments a reputable company?

Yes, Fidelity Investments is a reputable company, known for being one of the largest asset managers in the world.

How long has Fidelity Investments been in business?

Fidelity Investments was founded in 1946.

How does Fidelity Investments work?

Fidelity Investments operates as a brokerage firm and provides various financial services, including asset management, financial planning, and wealth management.

Before Investing With Fidelity Investments

It is advisable to consider obtaining . This guide can assist in making informed investments in precious metals.

Fidelity Investments Homepage

Contact Fidelity Investments

  • Phone: 800-343-3548
  • Address: Boston, MA
  • Founded: 1946
  • Alternate Name: Fidelity.com
  • Category: Precious Metals Investment Company
Fidelity Investments Address

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