Fidelity’s new policy leaves some 401(k) customers locked out of accounts

PHOENIX (AZFamily) — Some Fidelity customers say they’ve been locked out of their 401(k) retirement accounts after the company implemented a new policy restricting access for third-party financial advisors.

The change, which Fidelity says is meant to improve security, has left some clients frustrated and worried about who really controls their retirement savings.

The policy, introduced in September 2024, prevents customers from sharing their login credentials with outside financial advisors.

But many workers who don’t get to choose which company manages their employer-sponsored 401(k) plans, rely on independent advisors to help monitor and grow their retirement funds.

Now, some of those customers are discovering that their advisors’ access has been cut off. In certain cases, their acc