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C.W. vs. Fidelity Investments Jacksonville Florida

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Blatant Age and Hearing Loss Discrimination by Fidelity Investments

C. W. vs. Fidelity Investments (Headquarters)
82 Devonshire St, Boston, Massachusetts, 02109-3605, United States
Amount Involved: $15,000.00
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
       (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 4349799
    • Amount Involved: 15,000.00
    • Filed On: Dec 06, 2017
    • Posted On: Dec 17, 2017
    • Complaint(s):
      • Commercial / Other dispute
      • Other
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Statement of Claim
Complaints Involved (2) - View
Claimant says:
"I am a 70 yr old retired Licensed Professional Counselor having spent 35 yrs full time in my profession.
I transferred my IRA to Fidelity about 9 yrs ago and I am a frequent trader.  Last week i made a few calls to Fidelity service team in regard to funds that were not available that i believed should have been available.  It happened twice so i made two calls re: the issue.  I had one customer service rep prior to the two calls who I could not understand well due to their voice.  I have had a severe high frequency loss for 50 yrs due to ototoxic drugs administered when i was dying of peritonitis.  I wear hearing aides but they do not make my hearing perfect and must ask for repetition if somebody has an accent or has a soft voice. Today i went to make a trade early morning and was shocked that the msg box said my account was restricted from trading.  I called Fidelity and was told i could no longer trade.  I asked to speak to a supervisor.  He reiterated the same.  I wanted to know why and he told me it was in "my best interest" and their firm had an obligation to end my trading.  I wanted to know the reason and he referenced my 3 past calls.  They felt i was not competent to trade due to my calls.  He would not provide any other details.  I had incurred recent losses over the last year but truly this is MY money not theirs.  I asked if day traders who lose lots of money have their accts restricted to which the supervisor said no.  He said my restriction was based on my phone calls.  Since i do not hear and ask for repetition and may also not get a word or words clear I can only surmise that they thought i was demented???
I am transferring my money to another firm and will see if i can take some legal action against them for discrimination based on age and hearing loss."
...
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Claimant timeline (1) - Hide
  • 12-06-2017 — IRA Funds Restricted from Trading
What Claimant Wants Hide
1. Compensation: Profits I could have made today in trades Dec 06, 2017 $5,000.00
2. Recovery of Losses: Profits I could have made today Dec 06, 2017 $5,000.00
3. Mental Stress from interaction Dec 06, 2017 $5,000.00
4. Other – Copy claim to regulators Dec 06, 2017 $14.99
5. Other – Pay for claim posting cost Dec 06, 2017 $14.99
6. Other – Physical delivery charges Dec 06, 2017 $16.98
Cash total : $15,046.96
  • 4
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Jay Eichorn commented
Jay Eichorn (Comment):
"Can we have an update from the claimant. Have you closed your account, and are you in fact taking legal action. Has there been any further response from Fidelity?"
 (7 years ago)
Reply
Awaiting response from Fidelity Invest...
Claimant commented
Claimant: (Comment):
"I forwarded a recent written reply from Fidelity, an assistant to the CEO , in which they stated that their position has not changed."
 (7 years ago)
Reply
Mark Deuitch likes
Mark Deuitch ():
"I had an even worse situation with Fidelity. They promoted a "no interest loan" program from a third party. I asked the Rep if that means I could borrow the money for any purpose and pay it back in a year at no interest. He said absolutely. I took out the loan and then found months later that I was being charged interest. They said the program only applied to new asset transfers. It cost me a lot of money even while I had a cash balance in my account. They said they had no control over it since it was a third party program and they were only promoting it. Classy- huh? They've lost a all my business since then."
 (7 years ago)
Reply

Respondent's Counteroffer

There has been no response to this claim from Fidelity Investments (Headquarters). This claim will remain posted until resolved
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  • 1
  • Contributed Solution: by Claimant On 01-29-2018
    View more
    This is too small an amount. I had to transfer my IRA funds to another brokerage and i could not trade for over one week. 5,000. would be minimum acceptable for the inconvenience and insult.
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  • 2
  • Contributed Solution: by Jim Wicks On 01-05-2018
    1 comment
    Step 1. Fidelity should show up. Come to this forum and state their side of the case. Then both can be evaluated side by side and a solution worked out.
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  • 3
  • Contributed Solution: by Fran Fellowes On 12-20-2017
    3 comments
    Fidelity should review its policies for discrimination More...
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Is this a fair resolution?
  • 2
  • Contributed Solution: by J Petaluma On 12-20-2017
    1 comment
    Fidelity and claimant should allow lawyers that specialize in age /disability discrimination to review tapes of conversations More...
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