Kathleen Snyder sent a message to Abigail Johnson President and Chief Executive Officer of Fidelity Investments and Chairman of Fidelity Worldwide Investment email address that said:
Dear Ms. Johnson,
I am a small fish in your large pond, but I am still a customer. I have been recently divorced which resulted in a portion of my rollover IRA and Roth IRA to be delegated to my ex husband. A QDRO lawyer wrote the QDRO which was sent to Fidelity. I was told it would take thirty business days for your QDRO team to go over it and dispense the funds. In the interim, my accounts have been frozen. It is now close to two months and your QDRO team still have not come up with a solution. I received a letter dated Feb 13, 2018 stating the order was not qualified. It needed to state that the alternate payees award must be transferred proportionately from all investment options as of the date of account segregation. On page four paragraph 11 of the QDRO order it sates "Alternate Payees award will be paid proportionately from all investment options in which Participants account is invested as of the date of segregation. This information was given to a representative and I was told I would hear back within three business days. That has come and gone. I had to call again only to be told that this has not ben resolved as of yet.
Because of the incompetence and unprofessionalism of your QDRO team, I have not been able to secure my funds into an annuity and have lost over three thousand dollars. Now I know that for some that is pocket change, for me it is my retirement. I have worked many years as a nurse and have put my money into the hands of your firm. I am extremely disappointed in the way your company has handled this situation. They continue to make money on my investment while I lose money due to their incompetence and non caring manner. The bottom line is this is my money. the terms of the QDRO are extremely simple, and if Fidelity can not hire people with the expertise needed in this area, I should be allowed to decide what is to be done. Will Fidelity reimburse me for the funds lost because the QDRO team did not take care of this in a timely, and professional manner?
I want this debacle resolved so I can rollover into an annuity and avoid the crash we all know is coming.
Thank you
