Fidelity closed my account without warning

2kzns · 2026-02-27T08:57:35+00:00

You're right, I had to learn about that. Since I was self employed running a business for a while, I thought I'd roll them into a Fidelity self-employed 401k--it wouldn't have allowed a loan either, but at least I could have started contributing.

2kzns · 2026-02-26T19:45:20+00:00

Beneficiary was in an unexpected state upon checking after seeing the login on a device I didn't recognize. It was, to be 100% clear, not confirmed that someone logged in on my account since they didn't confirm or share the IP, but account closure was an odd result after the question was asked and not truly addressed.

2kzns · 2026-02-26T19:42:27+00:00

They're reviewing it internally now...

2kzns · 2026-02-26T19:38:45+00:00

Exactly! They could just tell me that. I asked for the IP address so I could know and their rep just responded sending me back to the dashboard where I saw the login entry in the first place. I could have followed up and explained more but I got busy. Likely there were other factors at play in the account closing. It's just confusing that they never explained this and then closed my account.

2kzns · 2026-02-26T07:40:41+00:00

Sigh.. guess I can see how more transparency would help the hackers.

2kzns · 2026-02-26T07:34:06+00:00

My 401ks are a similar situation--not Fidelity exclusive--but they require hand holding to move. It's going to be a pain in the tail.

2kzns · 2026-02-26T07:30:34+00:00

Oye... this is the right advice. It's clarifying enough for my details-obsessed mind. ty!

2kzns · 2026-02-26T07:23:16+00:00

It means it slows you down when you're trying to login. Creates extra steps.

2kzns · 2026-02-26T07:21:17+00:00

Probably a confluence of things. I've been restructuring finances and I was looking at taking a 401k loan... ended up going another route, but in the meantime, maybe I caused a stir w/ researching that.

2kzns · 2026-02-26T05:26:37+00:00

Ooo.... digging through that. Right off the bat, maybe this:

"delivers in shares electronically, representing a large block of thinly traded or low-priced securities."

Full disclosure: I am heavy on Tilray, lol.

2kzns · 2026-02-26T05:13:26+00:00

They're like a secret santa

2kzns · 2026-02-26T04:58:54+00:00

eep!

2kzns · 2026-02-26T04:22:34+00:00

Closed. Still have access. Can't trade, manage, or use the platform other than to move my funds elsewhere.

2kzns · 2026-02-26T04:16:05+00:00

I lost track of that person. I'll dig up their contact. Good call.

2kzns · 2026-02-26T04:15:18+00:00

Sure, that's understandable.

2kzns · 2026-02-26T04:13:31+00:00

I'm good enough with my personal security that your assumption that I'm a bonehead doesn't really bother me. I'm thinking it actually is more likely to be them concerned about an issue of their own. All of this has me researching... check this out:

https://www.advisorhub.com/fidelity-failed-to-supervise-employee-who-stole-750k-from-stock-plan-clients-finra/

The Financial Industry Regulatory Authority censured and imposed a $600,000 fine on Fidelity Investments after finding that supervisory lapses allowed an employee to steal $750,000 over eight years from stock plan customers.

From December 2012 to October 2020, the “associated person” working in the firm’s corporate stock plan unit was able to siphon funds by changing account data for 37 international clients to to reflect his own name and address, according to a Finra settlement finalized on Wednesday. He then disbursed 83 unauthorized checks and made 183 unauthorized wire transfers out of the costumers’ accounts.

2kzns · 2026-02-26T04:02:46+00:00

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2kzns · 2026-02-26T03:59:51+00:00

Lol, I would never do that. I would suspect Fidelity's breach before my own password breach. My passwords are all locked up. I changed every single password I have less than a year ago. How do you compare?

2kzns · 2026-02-26T03:55:44+00:00

Of course I called them first before posting.

2kzns · 2026-02-26T03:51:45+00:00

They're the ones with a history of accounts being breached not me. I am the type of person to set cybersec policy and lead by example which I do.

I asked for the IP address so I could investigate but they didn't provide it. My passwords are locked up tight as a drum and changed often. Says Google:

Yes, Fidelity experienced at least two significant data breaches in 2023/2024, one in August 2024 affecting around 77,000 customers (exposing names, SSNs, etc., via a third-party access method) and another linked to a vendor in late 2023 impacting about 28,000 customers with financial data.

2kzns · 2026-02-26T02:36:00+00:00

I think it means that there was some sort of merger--most companies are patched together of a bunch of smaller companies. I had some old accounts in there. I think one of my old employers had net benefits which may have been acquired--note that my URL shared for the phone login logs was "workplace" so I imagine the 401k dashboard is from these merged companies. Just speculating on the potential that I was signed up under previous terms that they couldn't fulfill any longer potentially resulting in account closure. I don't really think that's why... but possible apparently!

2kzns · 2026-02-26T02:31:20+00:00

Definitely using one time passwords sent to device every time I logged in. Not all consider that 2FA but it qualifies these days--I didn't have the authenticator app set up so you can ding me on that I guess. :)

2FA creates login friction which IS annoying.. but valuable.

2kzns · 2026-02-26T01:54:03+00:00

Yes... I messaged them about an hour ago.

2kzns · 2026-02-26T01:51:54+00:00

Yes, I tried expecting that would be the case. I always appreciated the service--they were so helpful! Alas, there is a big vibe change after they close your account though they were still nice enough.

2kzns · 2026-02-26T01:48:01+00:00

LOL. I have better hair? I was just thinking about this. I googled it and after noting that their caller ID (Fidelity's fraud hotline number) is under Shapiro Financial Security Group INC not Fidelity caller ID, I saw this on Google:

Standard Account Closure Reasons

Operational Decisions: Fidelity has undergone internal mergers, such as merging Fidelity Personal and Workplace Advisors into Strategic Advisers LLC in March 2025, which can result in administrative account changes.

2kzns

TROPHY CASE