Received a Cold Call From Fidelity

[easysurfer]

I received one of those cold calls a Fidelity rep today. I didn't answer the phone but called left a voice mail. I'm a DIY person and don't like unsolicited calls and the "experts" telling me what I should do with my money.

I went ahead and put the number on block and then went to Fidelity's Customer service online chat and said I wish to be placed on a do not call list. The online chat rep was helpful (knock on wood) saying the preference is now done for do not call and also asked if I wanted do not send unnecessary mail and I said yes.

So, guess I shall see if I'll experience the sweet sound of silence in the future .

 

[Scrapr]

did the rep say that it would take 30 days 3 years to take effect?

 

[easysurfer]

did the rep say that it would take 30 days 3 years to take effect?

Wouldn't surprise me.

 

[tulak]

I apparently passed some threshold at Fidelity, since I’ve had a couple calls from different reps recently.

I’m tempted to call them back, with the hope I can score free TurboTax.

 

[easysurfer]

I didn't like the cold call voicemail left on my phone as it had the Big Brother feeling. Voicemail pretty much was like "Hello, I'm Joe the Fidelity rep. I see that your portfolio has a large amount in fixed income investments, and your IRA's are such and such. Give me a call back to discuss." So, I'm thinking to myself "This guy who I don't even know has been peeking at my portfolio and already making suggestions. The Heelots!"

 

[wrigley]

I received one of those cold calls a Fidelity rep today. I didn't answer the phone but called left a voice mail. I'm a DIY person and don't like unsolicited calls and the "experts" telling me what I should do with my money.

I went ahead and put the number on block and then went to Fidelity's Customer service online chat and said I wish to be placed on a do not call list. The online chat rep was helpful (knock on wood) saying the preference is now done for do not call and also asked if I wanted do not send unnecessary mail and I said yes.

So, guess I shall see if I'll experience the sweet sound of silence in the future .

I get them all the time. I just don't answer.

Mike

 

[MarieIG]

DH got a call from Fidelity. We recently sent up joint accounts over there due to their cash management feature.

 

[CRLLS]

I was told by Fidelity that they will tag your account as a DIY'er if you don't make "n" number of trades or contacts with them. I lost my assigned rep that way. I saw that another rep in a different office had then "claimed" DW's account as his and reached out to her/us for a meeting. While I didn't have a problem that office (it was a bit closer), I was disappointed about seeing him on my account with no advance notice. I did some checking, and he was a novice. I found another rep in that office with better credentials and experience, met up with her and then chose her to be both DW's and my rep. We really don't need a rep for handholding. It is good to know she is there if I need something though.

Easysurfer, perhaps your DIY status put your name in the bullpen, like ours did.

 

[Texas Proud]

I will agree that Fidelity has a problem with some of their reps... I have a small account and my DDs account...

SOOO, some novice guy from another town even calls to talk about what we can do with the account... I was like 'who are you and why are you calling me?'... I actually called and finally got the regional manager and he said that he was not supposed to give me a call at all as his office was not even close to me... I actually have 6 offices that are closer...

They said they were listing my account as a do not call account... so far the only calls I have gotten was when I called to try and move my 401 to them but did not... they call about once a year to see if I want a meeting with the guy...

 

[Rickt]

I too received two phone calls and an email inviting me to meet with a Fidelity rep stating " We are available to review your personalized insights and answer questions."

This email and two phone calls/Voive mails were after I set up "Fidelity Full View" and visited "Build your free Plan" under the "Planning and Advice" Tab

 

[Winemaker]

I get calls from Fidelity, Merrill Lynch, and my three local banks that I have automated deposits, asking if I need a review for investment advice or if they can be of any help to me financially. They're trying to get more business, even though I am a DIYer, and big account holder. There is a rep's name on my monthly statement who I've never met or talked to, but when he/she moves on, and I get a new rep, They give me a call. No harm or foul, I say.

 

[jollystomper]

I apparently passed some threshold at Fidelity, since I’ve had a couple calls from different reps recently.

I’m tempted to call them back, with the hope I can score free TurboTax.

This is what happened to me. Every few years I would get a call from the Fidelity local office, I just would not return it. This would happen several times over a couple of months, then stop. I did not consider them annoying, the messages and the people were very polite. I have also been getting invites to some of their online webinars, and have attended some.

Several months ago they call for the first time in 2+ years and I decided to return this one. Since it has been 5+ years since I retired and I was updating my 5 year plan, I felt it worthwhile to have someone review my plan. So I have a free advisor assigned. I had a 30 minute call with her, and her general conclusion was "you know what you are doing", as I had an answer/reason for every question she raised. The only thing she recommended I consider was MYGAs (what they call deferred fixed annuity"). I told her I might, but I do not rush into these things and I take a year or 2 consider such a move, and she respected that.

After that call, the "Free Turbo Tax" button magically appeared on my account page .

Since then I have gotten 2 calls from her over 3 months. All my calls go to voicemail so no big deal. One of them was just to invite me to a local office virtual seminar.

So, my experience with their calls is that they are not a big deal. They are very respectful of my DIY intent. Even customer service, when I have called to make a transaction that cannot be performed online, has not questioned it - they have pointed out considerations, but as soon as I explain I understand and how I am addressing the consideration, they say "fine" and there are no issues.

 

[big-papa]

I'm down to only one attempt to reach out to me every couple of years. Usually a call that goes to voicemail (we never answer the phone anymore) and sometimes by email. Really, compared to other stuff that shows up in email or in voicemail this literally is no big deal...

 

[Koolau]

Hmmmm. Never a call from Vanguard. Maybe I don't have enough in their Admiral funds.

 

[jollystomper]

Hmmmm. Never a call from Vanguard. Maybe I don't have enough in their Admiral funds.

We do not get calls from Vanguard, but we do get frequent emails touting their Personal or Digital Advisor services.

 

[flyingaway]

Recently, I received phone calls, text messages, and e-mails, from a Fidelity representative, stating that they have a new office in my town and they want to help me. I did not reply.

 

[Willers]

I receive calls from one particular rep about every quarter (goes to v-mail) asking me to give them a call about something that is "not urgent, but important." I have a pretty good idea what is important to him. No thanks.

I don't bother getting on a no-call list because the calls are infrequent. Overall, I find Fidelity the easiest to work with of the big three.

 

[jazz4cash]

I didn't like the cold call voicemail left on my phone as it had the Big Brother feeling. Voicemail pretty much was like "Hello, I'm Joe the Fidelity rep. I see that your portfolio has a large amount in fixed income investments, and your IRA's are such and such. Give me a call back to discuss." So, I'm thinking to myself "This guy who I don't even know has been peeking at my portfolio and already making suggestions. The Heelots!"

I would hate that too! It is so far afield from the calls I get. I have a designated rep. He knows I am DYI but he calls quarterly or so to check in cause that’s his job. I do speak or meet once or twice per year primarily so DW will have a contact if I’m not around. Extremely unprofessional to leave any details whatsoever in a voicemail. I would make my feelings known about that!

 

[imjustawarrior]

I started getting the calls a few months ago. At the time, I wanted to meet to discuss a transfer bonus. I was able to get him to round up to the next million so I could get an extra $1k. I don't know if I'll talk to him again, but we recently got invited to a quarterly dinner for a market update. The night did not work for us, but we may go for a free meal. We are DIY, but I find these things interesting.

 

[Koolau]

We do not get calls from Vanguard, but we do get frequent emails touting their Personal or Digital Advisor services.

Oh, yeah, all the time. But I am so glad that they don't call.

 

[Scrapr]

I am noticing that Chuck (Charles Schwab) is not mentioned much in the prospect calling. Have I missed this? Do they just take your money & shut up invest it?

 

[brett]

Here is my other observation.

It seems to me that the really good, professional people in this business, the ones that have a good book of business and a list of long time satisified customers, have absolutely no need to cold call.

They get their new business primarily from customer referrals. No different than the pros in other businesses.

I have never been in the least bit interested in a 'free seminar' or a 'free meal' when in comes to financial or retirement advice.

I may get some calls...really do not know. I only answer my phone to numbers that I know and recognize. I pass on the rest.

 

[aja8888]

I am noticing that Chuck (Charles Schwab) is not mentioned much in the prospect calling. Have I missed this? Do they just take your money & shut up invest it?

I get a call once per year from my Schwab Guy. I just tell him I'm OK and not changing much going forward. He's OK with that and says call me if you need anything.

 

[Another Reader]

I haven't gotten a call in three or four years. I have mutual funds, ETF's, and some leftover positions from 15-20 years ago when I hired an "advisor" to manage an inherited portfolio that used Fidelity. The advisor is long gone. I have recently been assigned to the "Active Trader Services Team." Must be all those T-bills and CD's I buy...

 

[Al18]

I don’t mind the occasional call from Fidelity that I get every year. The wife and I had a meeting last year with the advisor to review the Retirement Planner numbers - helpful.