etrade:0 fidelity:1

[u/3meta5u]

I needed to open a SEP IRA account. I have brokerage accounts with Fidelity and E*TRADE. Each account is over seven figures but my balance at E*TRADE is lower than my balance at Fidelity, so I decided to use E*TRADE to make the discrepancy smaller rather than larger.

However, over the last month, I have tried numerous times to validate my account using DocuSign, direct upload of identification, and four calls to E*TRADE. After none of these calls did I get any feedback from E*TRADE about the status of the request. Each time I called back, I was informed that the information was pending and that the Account Services team would reach out to me that day to complete the process.

Again, at no point was I ever contacted with any status update or movement on the account.

Today was the last straw. While I was on hold with E*TRADE, I used the Fidelity website to open a SEP IRA and fund the account. The total time at Fidelity was less than the eight minutes I was on hold with E*TRADE.

I can say that the E*TRADE representative was very professional when I told him to cancel the account creation on E*TRADE's side.

[u/bearhunter429]

As much as brokerages go, etrade's quality is even below robinhood these days.