Fidelity Investments said some customers experienced technical issues on the company’s website Monday morning as markets tumbled. Schwab.com clients also faced delays.
“There were intermittent issues” at Fidelity.com which have been resolved, a spokesperson for the Boston-based firm said.
The three main U.S. stock benchmarks all opened more than 3% lower. In intraday trading, the S&P 500 Index tumbled the most since 2018 and the Dow Jones Industrial Average erased all of its gains for the year as the spreading coronavirus stoked a global sell-off.
Some clients may have experienced delays as the market opened due to higher than usual volumes, but the systems are now fine, a Charles Schwab Corp. spokesperson said.
Andrew Komarow, founding partner of Tenpath Financial Group, a registered investment adviser in Farmington, Conn., said he is considering switching from Fidelity after attempting to open his personal account and finding a zero balance this morning. He said one of his customers experienced the same technical issue, and was unable to trade for as long as 40 minutes after markets opened.
“If there’s a time you want to be able to log in, this morning was it,” Mr. Komarow said in a telephone interview.
Short sellers previously said the company was under investigation, though Roblox denied allegations.
The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.
National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.
Recent data support a measured pace by the Federal Reserve for the year ahead.
Financial advisors are still adding alternatives despite the surge in publicly traded stock prices
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