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A Brief Rant About Fidelity’s Web Site Failures for 401(k) Accounts

  • Writer: Kirk Hartley
    Kirk Hartley
  • Dec 3, 2013
  • 1 min read

The Obamacare web site looks great when compared to Fidelity’s web site. Not once but twice, Fidelity’s computer systems have failed and destroyed my newly-created 401(k) account. Once was by phone – a month or so ago. Fidelity’s person did the account creation from information I gave them by phone. They claimed the account was all set up, but it never could be activated and disappeared despite various emails to "the help desk."

Tonight I went online and created a new account myself via online tools. So, I did the busy work. But, once again, the system failed – this time it threw up an error message when I reached the section for creating a username and password. And so the account was gone. No account, no nada. But Fidelity did still send an email assuring me that I now have an account, and welcoming me to Fidelity.

Fidelity apparently has joined CapitalOne in the race to the bottom among financial service entities. Apparently I also now know why Fidelity’s customer agreement includes a waiver of class action rights.

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About Kirk

Since becoming a lawyer in 1983, Kirk’s 35+ years of practice have focused on advising a wide range of corporations, associations, and individuals (as both plaintiffs and defendants) on both tort and commercial law issues centered around “mass torts.”

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