I have long suspected that Fidelity’s much vaunted computer system is not as infallible as they like to claim. As someone who uses it daily, multiple times a day, I have, over the years encountered various vagaries. But, when I call up, they (i.e., Fidelity) always have an explanation.
Not so TODAY. Caught them with their pants down. Very exposed.
My balances did NOT add up. I kind of know what they are (at any given time) and what was being shown just did NOT compute. It also was not inline with what they were showing on my ‘Positions’ page.
So, I called. As always their first reaction is to gently humor you and show that they are right and you are wrong.
Not so today. He tried …. then he was stumped. It did NOT add up. You could see it clear as day. He started blathering … he had to call me back.
IT WAS AN ERROR in their system!
A few others had called too.
Had to do with today being a HOLIDAY though the stock market is open. But, option trades from last Friday are not being reconciled today because the option markets (most likely in Chicago) are closed. Hence, the error. But, it should not have happened.
They were suitably embarrassed and chastened. I finally caught them.
Ha, Ha, Ha.
Check Category ‘Investments’.