The economy is always in flux. The up and down motion of the markets around the world have left everyone feeling a little bit worried about the future. Economists can no longer predict what will come while consumers are a bit hesitant to invest money in to anything. Gold and precious metals is one market that historically stays stable and is a good investment, especially during turbulent times. There are many companies that have cropped up to help people invest in gold, precious metals and roll over their 401k and Individual Retirement Accounts in to a gold based IRA.
Fidelity Investments is one of these companies. It has a history that dates back to the mid 20th century. The company has survived the often topsy-turvy economic world relatively unscathed. All this history would lead some to believe that Fidelity Investment is a company to be trusted. In many cases it is, with consumers from around the world happy with the service. However, there are also many reviews and complaints that paint a bit of a different picture.
On the consumer review website Consumer Affairs, there are over one hundred complaints filed against Fidelity Investment. These complaints range from poor service to a Public Relations department that doesn’t seem to worry about how the company appears to others. Since the company is a full investment firm and not just one dealing with gold buying and IRA rollovers, there are many complaints that center on stock, bonds and portfolios.
These complaints speak of bad advice and poor customer service. This speaks of a company that is at odds with itself, one that can get good customer reviews from some but can’t hold on to other customers. Consumer Affairs has just a small portion of the complaints brought forth on the World Wide Web. Consumer Affairs isn’t the only Customer Review site to have issues with the company.
Can Fidelity Investments be trusted even with customers that have been with them for years? One customer on Scambook has had an account with them since 1992. In 2012, he stopped receiving his quarterly report. After complaining about it for weeks, Fidelity Investments finally sent the customer his copy. The customer was not amused to find that Fidelity had transferred his investment for a $38,000 loss. Fidelity Investments hadn’t notified the customer of this transfer or received his permission.
The Better Business Bureau is the granddaddy consumer advocacy organizations. If someone has an issue with a business, often they are told to report it to the Better Business Bureau. The BBB rates every business on a scale of F, a failing grade, to A+, a perfect rating. Of course, just because a business has an A+ rating doesn’t make it a perfect business.
Fidelity Investments has an A+ rating through the BBB. This means that the company should be a shining example of the BBB standards for every company to see. However, Fidelity Investments also has over 170 complaints filed through the BBB at the company. These complaints are closed but one wonders how a company can have an A+ rating and so many complaints. There is a disconnect somewhere in this process, one that doesn’t seem to put the consumers first.
Fidelity Investments is a company that has been in business a long time. One doesn’t go sixty years without having a loyal customer base. These complaints are just that, complaints. They may or may not have substance. Fidelity wouldn’t last this long if they didn’t please some of their customers. Consumers can look in to the company and research it to see what works and what doesn’t. In this new area of gold investment and IRA rollovers, an old school company might just be the one to use.
Of course, a company that is steeped in the old school idea of how to do things might not be the company to use. Many of the practices that could help a company in the mid 20th century could hinder them now. Many of the complaints about Fidelity Investments center poor customer service, a hallmark of many old school corporations. Fidelity Investments might just be a company that clings too much to the past to suit the needs of modern day investors.