On 11/22/2019, I called Fidelity to transfer my Mother's IRA to them. The Rep, told me to fill out the ONLINE transfer, and walked me through the forms. I also requested BOTH the account transfer AND a Durable Power of Attorney form to be sent by mail.I was told later NOT to return the Paper copy because this would cause confusion. Fidelity rep said online form is faster. ON 11/23/2019 I sent the Power of Attorney form by mail. On 11/24/2019 I was told they REQUIRE two more documents because the account is CLOSED. They wanted a copy of my Mother's SSI card. AND they had me fill out a W-9 Tax Form which again I did online as directed. I called 2:49 on 11/26/2019 to follow up on the account being closed and I received confirmation via the Secure Message Center online the SSI information was received.I NOW see the account is FUNDED, the transfer has occurred.During this call the rep, "Contacted the back office" to confirm all was now again in order, And ask why the account is STILL closed. The rep, Glenn came back on the phone and I was told all the forms have been received, and ARE PROPERLY filled out. This morning 11/27/2019 I logged onto the account to check the status, since the paper work WAS received and in order, funds in the account, and to check if the Power of Attorney was in force. UPON logging on I panic ed ..... $0.00 Balance ? O-M-G were the funds stolen ? What happened with my mother's money. I called Fidelity. today's rep. kept checking with "The Back Office". Who were now, providing information COMPLETELY opposite of all I had been told in the days before. After a LONG time of asking for a Supervisor or Manager, finally I was connected with a manager. I was told, he can not discuss any matter relating to this account. UNLESS he speaks with my Mother. She is 89 years old, has Alzheimer and does not understand the stupid questions they ask.
Bear in mind Fidelity Rep. was well aware I was doing this for my Mother. Pointed out as I filled out the forms, HER name, her SSI number, My NAME my SSI number. Then a MANAGER says I can not now access this account.
This Manager REFUSED to answer what happened to my Mother's money, and in FACT locked the account.
SO, Fidelity takes upon themselves to make judgements. Funny, all was normal UNTIL the account was funded.NOW Fidelity takes it upon themselves to hold her money and to not answer any questions. I HIGHLY SUGGEST you think twice about turning YOUR hard earned money over to Fidelity, I certainly have NO trust left. A Required Minimum Distribution (RMD) must be taken in December, I also explained this IS a time sensitive matter. Mailing time involved.
And I have received NO service as of now whatsoever.
Please THINK before YOU turn your money over to Fidelity. Once they have it, they sure change their tune. Very helpful to get it, then good luck fighting with Fidelity.
Don C. read more