Tuesday, August 12, 2008

Blindsided by Fidelity Investments

Last week I was in Texas, as part of a church missions trip, so I didn't have time or facilities to blog. Now I'm back, and want to share how Fidelity Investments "blindsided" me.

Because of lack of access to a computer, I could use only the Fidelity telephone system, FAST, to get quotes or trade. One day last week, I called and placed a trade. I specified the stock, quantity and type of order. The system announced it back to me, I indicated that I was OK with it, and then the system made the trade.

A few seconds later, the system told me that the trade was complete. However, it also gave me a commission amount far higher than what I was expecting, specifically one far higher than what I receive when trading on the Fidelity web site.

I spoke to a representative, and expressed my concern over the different commission levels. After listening, the representative agreed, and said that this one time, he would credit me for the difference.

I was glad to hear this news, but was still irritated by being surprised. There might well be good reasons for the differences in commission amounts. However, to avoid similar customer dissatisfaction, Fidelity could have done things differently, in particular, they could (and should) have alerted customers to this matter beforehand. Here are some possible ways:

- As soon as caller presses the key for "trading," the system could announce in general a message "caution: the commission levels for telephone trading may differ from those via the Fidelity web site."
- (even better): when the system announces the desired trade, prior to execution, it also could include the commission amount as well

In either case, callers have notice.

You can learn from this experience of mine, because it doesn't have to do only with trading with Fidelity. In your own jobs, try to minimize those instances in which you surprise people negatively.

Saturday, August 2, 2008

"10 ways to work better with your boss"

I’m gettin’ paid by the hour, and older by the minute

My boss just pushed me over the limit

I’d like to call him somethin’

I think I’ll just call it a day…

– Alan Jackson, Jimmy Buffett, “It’s Five O’clock Somewhere”

Bosses: You can’t live with them, and you can’t live without them. Like it or not, most of us must deal with a boss, and the way we do so affects not just our career advancement and our salary, but also our mental well-being. Here are some tips on how to get along better with your boss.

Note: This information is also available as a PDF download.

#1: Remember that your boss just might have useful insights

Think you have a clueless boss? Remember the words of Mark Twain, who once said that when he was 14, his father was so stupid it was unbearable. Then, he continued, when he became 21, he was amazed at how much his father had learned in just seven years....

The rest of the article is at Tech Republic
 
Add to Technorati Favorites