?

Log in

No account? Create an account
Previous Entry Share Next Entry
BigDigDowntown
jwg

Back and forth

I wanted to transfer some stock from my Fidelity Account to State St Bank for a charitable gift annuity.

- I called Fidelity - they said contact State St it was better if they initiated it
- I called State St Bank - they said go to Fidelity because they must initiate it
- I went to Fidelity (Cambridge) to deliver a letter of instructions with the State St information; they said to go to State St
- I went to State St and they said go to Fidelity
- I went to Fidelity (Boston) and they accepted my letter of instructions.

There were several - you could FAX it - suggestions in this. The State St bank person that I conferred with was the correct person. Of the three Fidelity people I talked to, the last one seemed to actually know what he was doing.

Downtown Boston remains confusing, but having GoogleMaps on my phone helped. State St Bank is not on State St. The MBTA gained by selling me two extra rides and Finagle-a-Bagel gained by selling me lunch.
Tags:

  • 1
My broker is Fidelity, too. When I started my own business, I opened a business account and self-employed 401k with them, thinking it would make transfers between accounts easier when needed.

For two of the three years I was self-employed, I called them at the end of each fiscal year, instructing them to transfer my elective employee contribution from the business account to the 401k. They said it couldn't be done on the phone. I had to fill out the paperwork, write a check, and either drop it off at a Fidelity center or mail it in.

This year I call again. Lo and behold, they executed my transfer/contribution. Apparently the reps from the previous two years failed to verify the name on the business account was identical to the name on the 401k. Sheesh.

  • 1