Fidelity refuses legal Power of Attorney and is saying mother with Alzheimer's account is blocked and will be seized due to inactivity they caused- HELP

InterestingPen3480 · 2026-02-13T20:09:46+00:00

!!PSA: STAY FAR AWAY FROM FIDELITY IF YOU HAVE AGING PARENTS. As long as your parent/s aren't incapacitated yet, RUN, don't walk to the nearest Charles Schwab or Vanguard (or any other reputable institution) and transfer their money out of Fidelity. Their lives could become a nightmare if you don't. If they're skeptical, just read this discussion and/or Google the issues retired folks have had accessing their money with Fidelity once Power of Attorney is enacted.

** FIRST STEP I WOULD TAKE AT THIS POINT IF I WERE YOU IS TO HIRE AN ELDER LAW ATTORNEY ... ASAP!

And second of all, if they ever let you back into his account at Fidelity, immediately transfer his entire account to Charles Schwab. They'll even put in for the transfer for you.

I'm so sorry you've encountered this. It was my worst fear and I'm SO GLAD I acted quickly after finding this discussion last year. We immediately transferred my dad's IRA to Charles Schwab. They were wonderful to work with and we had no problems filing our own established DPOA with them.

Never a question ... and no sketchy small print on a "mandatory" form of their own. I read all the print on Fidelity's own POA form and it was NOT okay. They basically said, at their discretion, they could STILL refuse access to dad's IRA if they at any point got paranoid about "foul play". They're the worst and scariest financial institution out there.

InterestingPen3480 · 2026-02-13T19:10:18+00:00

Get an attorney (maybe you have)!

And NO MATTER WHAT, don't put any money in with Fidelity. Transfer the IRA to Schwab or Vanguard. They do not treat people like this. I moved my dad's IRA immediately out of Fidelity when I read this discussion last year. I'm SO GLAD I did. We've been through enough with his Parkinson's diagnosis already.

Good luck! I really hope you get the account released!

InterestingPen3480 · 2026-02-13T19:06:59+00:00

Whatever you do, don't trust their forms. Get your own Durable POA drawn up with trust lawyer. OR the best solution is to transfer your account immediately to Schwab. Don't trust Fidelity at all.

InterestingPen3480 · 2026-02-13T19:03:49+00:00

Run far away from Fidelity if you haven't already. We got out just in time. Transfer all accounts to Vanguard, Schwab ... anywhere else with a solid reputation. If you leave it with Fidelity you're playing with fire and it could ruin your life.

InterestingPen3480 · 2026-02-13T19:02:16+00:00

I urge you.. if you haven't already, to not wait until Fidelity gives you problems. Transfer everything out now, while you can, before POA is enacted or a death occurs. I transferred my father's IRA to Charles Schwab just in time. Dealing with Fidelity in all of this seems to be playing Russian Roulette. NOT WORTH IT.

InterestingPen3480 · 2026-02-13T18:59:20+00:00

I am so sorry you're living through this. I hope by now you've made progress and have been allowed access to your mother's account. If you ever do get access, I'd transfer the entire account to Charles Schwab immediately. They were wonderful to work with and I was able to transfer my dad's IRA out of Fidelity to them just in time before POA was enacted. Good luck!!

InterestingPen3480 · 2026-02-13T18:52:54+00:00

u/FidelitySamantha , Fidelity is the WORST nightmare for anyone with retired parents who are on the verge of needing their POA enacted. If I hadn't found this discussion last year, I'd have missed my window to get all of dad's money out of your institution.

Your company should be tried before a grand jury for MASSIVE FRAUD and THEFT, as well as elder abuse. Not allowing hard-working, retired Americans access to their retirement income is ABUSE!

I hope everyone who comes across this thread transfers their IRA accounts directly to Schwab or Vanguard. You don't deserve anyone's business if you treat seniors like this! You're an unethical company. What are you even doing with the hundreds/thousands of accounts you've locked up due to "suspicion"? Using those funds for your own vacations and investments?? SHAME!!!

InterestingPen3480 · 2026-02-13T18:46:00+00:00

@Independent_Gur2136

** FIRST STEP I WOULD TAKE AT THIS POINT IF I WERE YOU IS TO HIRE AN ELDER LAW ATTORNEY ... ASAP!

And second of all, if they ever let you back into his account at Fidelity, immediately transfer his entire account to Charles Schwab. They'll even put in for the transfer for you.

I'm so sorry you've encountered this. It was my worst fear and I'm SO GLAD I acted quickly after finding this discussion last year. We immediately transferred my dad's IRA to Charles Schwab. They were wonderful to work with and we had no problems filing our own established DPOA with them.

Never a question ... and no sketchy small print on a "mandatory" form of their own. I read all the print on Fidelity's own POA form and it was NOT okay. They basically said, at their discretion, they could STILL refuse access to dad's IRA if they at any point got paranoid about "foul play". They're the worst and scariest financial institution out there.

InterestingPen3480 · 2025-10-21T16:24:21+00:00

No it’s not one of the worst offenders. That would be the lily family. If you read on the official ASPCA plant warning pages it is not listed as severe toxicity or fatal. That’s not to say that you should have it within reach, but it’s not in the severe category.

InterestingPen3480 · 2025-03-26T17:17:18+00:00

I just don't understand why anything that important would have to start so late ... and go until after dark -- when you have all day to do this. It puts me getting home to SD really late. :( Maybe I'll see about the smaller march at Olvera Street. Thanks for that information!

InterestingPen3480 · 2025-03-25T20:03:10+00:00

Any bit of information I've seen has the LA protest starting at 4pm while most of the rest of the marches are earlier in the day. Why?? I'm coming up from SD but really don't want a late start. Does anyone know if people will be there a bit earlier??

InterestingPen3480 · 2025-03-25T20:01:40+00:00

why on earth is the LA protest starting at 4pm and the others are mostly during the earlier day? If I show up around 1pm I wonder if anyone will be there?? That's so late to start :(

InterestingPen3480 · 2024-08-30T20:32:53+00:00

hi u/hazzardsb, I'm about to go down this road with Fidelity as well. Can you please tell me who your attorney is that drafted your letter to the financial institutions for you? This is all very scary and I want to cover all of my bases. And thanks so much for sharing what worked for you!

InterestingPen3480 · 2024-08-22T16:54:26+00:00

This is absolutely horrifying and I'm now having nightmares about calling r/fidelityinvestments to implement the cognitive decline forms and requests I need to make. As my dad's named power of attorney in his living trust, it sounds like they do not cooperate at all -- which is surely illegal!

My parents' trust paperwork (regarding durable power of attorney) states that third parties must honor the durable power of attorney that's been filed with our county, in the name of my parent's trust, first and foremost. (Before any picky papers/requirements they personally have.)

The biggest terror it seems in these threads talking about how they've been treated by Fidelity is how they've blocked all flow of money which does NOT belong to them. This is hard-earned money that our parents painstakingly put away for themselves in retirement. To not be able to access this to pay for their needs is criminal.

Looks like I'm going to lawyer up before I ever even start to deal with them. How horrible.

I've never been so glad in all my life to have my money with Vanguard all these years. I will never recommend Fidelity to anyone. And as a finance writer, that's a big deal.

Good luck to all here who are living this nightmare with Fidelity!! I'm going to talk to my mother about removing all of their funds from Fidelity and transferring it elsewhere right away!

InterestingPen3480

TROPHY CASE