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Rating:RIAs Dodge the Boston Behemoth's Web Woes Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 30, 2017

RIAs Dodge the Boston Behemoth's Web Woes

News summary by MFWire's editors

Millions of Fidelity customers were unable to access their accounts online yesterday. Yet the system is back up, and RIAs who custody with the Boston Behemoth were seemingly unaffected by the outage.

"It was an internal nature technology issue that we have addressed. Customers now have full access," Fidelity spokesman Mike Aalto told 401kWire, our sister publication. "Anyone trying to access online accounts were impacted."

The outage affected retail brokerage investors and 401(k) plan participants trying to log in to Fidelity's website or mobile app. Aalto declined to share the duration or specific cause of the outage.

Yet an executive with a hybrid RIA/broker-dealer that custodies with Fidelity says that the outage did not affect him and that he has not heard any complaints from his clients (though they tend only to check their accounts when statements come out).

"I've been able to do all of my trading," Peter Huminski, founder of Thorium Wealth Management, tells InvestmentNews.

CNBC, Financial Planning, and the Wall Street Journal all reported on the outage affecting retail investors. 

Edited by: Neil Anderson, Managing Editor

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