Monday, July 23, 2007

Fidelity Update

Well, you know how it took an act of Congress to get Fidelity to behave?

The new news is,

Even with an act of Congress, Fidelity will not behave!

Yes Institutional customer, we will mail your quarterly statement at the end of the month.

End of the month!!! What is this? Other financial institutions mail statements out shortly after a period closes. You can bet if you were an individual customer, Fidelity would do likewise. But since yours is an Institutional account under MHT Corp rules, they can and will take up to a full month before mailing it out! No doubt they will point the finger at MHT Corp too.

What to do? Here is my recommendation:

If you have a choice of what company handles your investments, don't choose Fidelity because they exhibit crass disregard for customers. If you don't mind this kind of treatment, Fidelity is your company!