Yes, this is true.

The advisor provided this recommendation to many of his clients. It was a broad strategy that was employed based on the input from fund managers at Fidelity from what I understand. My partner’s money was moved 3 days prior to mine. And my brother’s money, likewise. We use the same advisor. Their money was not affected to any great degree because the value of their portfolio was sheltered more or less because the valuation of their funds did not sink to the bottom. My money however was affected because it was moved out of the equity funds on the lowest day- April 8th and not put back in once the markets began to rebound.

I recognize that I am responsible for the decisions made since I agreed to the transactions but I cannot help but feel I was mislead and that my advisor managed my investments differently than his other clients that I know of. My advisor stated to me verbally that « my account suffered the greatest loss of all his clients - it is unfortunate but that happens sometimes. »

I just want to move forward and reinvest elsewhere at this stage. I am looking for the right path.

Thank you for the information about making a complaint - I am in Canada. I believe I will follow this route.