Re: Fidelity and F Shares
Fifteen months ago, I first contacted Fidelity because the F Shares weren't listed in my account (and they did show up in other brokerage accounts we have). The Fidelity reps tried to be helpful, and even sent a follow up email that they would resolve it. Time passed, nothing happened, and when the F Share redemption was delayed last year I dropped my inquiry.
Earlier this week I called Fidelity again several times over three days. After speaking with six different Fidelity reps, and spending over 2 hours on the phone, I finally got somebody in the "back room" yesterday. During his research, he was able to see that a "payment in book entry form" had been made to the transfer agent (Broadridge). His assumption was that Broadridge would issue checks individually to shareholders.
I told him (again) that the F Shares show up in my other accounts (eTrade and Interactive Brokers), although we needed to call eTrade to make it happen. In the case of eTrade, after they made the proper contacts at Broadridge, they were sent a bundle of all the F Shares for all the accounts at eTrade that were entitled to them. eTrade needed to disaggregate the shares from the bundle and assign them to the appropriate accounts.
So, I think Fidelity is in the process of doing the same thing, and I was promised a status by Friday at 4 pm eastern time. I will post an update after I hear from them.
