Complaint: Fidelity refuses to acknowledge beneficiaries

on 09 January 2021 about Fidelity Investments in category Financial Services

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My complaint:

Our mother passed away in 2016. It is now 2021. She worked at Stanford and her pension is managed by Fidelity. Since 2016 we have been (re)submitting the Beneficiary Affidavit. We have had the entire set of documents notarised by two separate notaries, including a US Consulate.

We even submitted a complete notarised proof of estate beneficiary status.

For some reason, Fidelity are unable to explain, they simply keep (re)sending the same forms to us. This has literally been going on for YEARS. My brother and I are both professionals. We know how to submit paperwork. We are beginning to suspect obstruction, or incompetence, or both.

All other financial institutions we dealt with swiftly resolved accounts within a matter of months. With Fidelity we are now entering the fifth year of bureaucracy.

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Justified complaint?

Suggested solution:

Recognise the legal beneficiaries.

Fidelity refuses to acknowledge beneficiaries
Fidelity refuses to acknowledge beneficiaries
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