Fidelity: can no longer use first initial, middle name

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InvestorThom
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Fidelity: can no longer use first initial, middle name

Post by InvestorThom »

All of my financial accounts, legal and tax documents and medical records are in the format:
first initial, middle name, last name... as in I. Thom Boglehead

My Fidelity accounts have been like this for years.

Fidelity is now telling me I can no longer have my accounts in this format, i.e., the accounts have to include my full first name.

"Patriot Act blah blah blah."

Has anyone else run into this?
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FIREchief
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Re: Fidelity: can no longer use first initial, middle name

Post by FIREchief »

Why would this be a concern?
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
123
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Re: Fidelity: can no longer use first initial, middle name

Post by 123 »

I guess Fidelity wouldn't be able to accommodate T. Rowe Price as a customer!
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Re: Fidelity: can no longer use first initial, middle name

Post by Spirit Rider »

I'm surprised you have gotten away with it this long.
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Re: Fidelity: can no longer use first initial, middle name

Post by mouses »

FIREchief wrote: Wed Oct 04, 2017 9:55 pm Why would this be a concern?
If you're asking why the OP is concerned, it's because it is annoying to not be called by one's name. How would you like to be called BUCKETOFWATERchief?

My sympathies, OP. My name is of the form Framis Zot Smith, where Framis Zot is my first name. You wouldn't believe the struggle to have places not turn this into Framis Z. Smith.

I fail to understand why the Patriot Act gives a whatever. They're effectively changing your name, which seems contrary to their aims.

Maybe you could legally change your name to I. Thom Boglehead :-)
Determined
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Re: Fidelity: can no longer use first initial, middle name

Post by Determined »

Both my dad's and brother's first names are John, but they have always used their middle names. There are all kinds of things where they are listed as John. The military is one in particular, but there are others. I am not sure how annoyed they get. It's just how it is.
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Re: Fidelity: can no longer use first initial, middle name

Post by Gill »

I have gone by my middle name all my life. However, after encountering similar problems as the OP I started going by the traditional first name middle initial when I travel, with Medicare, in the military and other uses where the first initial created confusion. I've always attributed the problem to many forms that are set up with first name, middle initial. After a lifetime of experience with this I'd advise against calling a child by his middle name.
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Re: Fidelity: can no longer use first initial, middle name

Post by Jack FFR1846 »

I would bet that if you called and told them that if they insist on making this change, you'll be moving all of your money elsewhere, they'd figure out a way to keep you happy.
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Re: Fidelity: can no longer use first initial, middle name

Post by Ron »

No problem here; I have no middle name :mrgreen: ...

While I was in the military, my records were annotated "NMI" where the middle initial would be stated. It takes government to make three initials out of one :twisted: ...

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Re: Fidelity: can no longer use first initial, middle name

Post by NotWhoYouThink »

I'm with Gill on not calling kids by their middle names. I thought I'd solve the problem when I got married, changing my name from Mary Ann Smith to Ann Smith Jones. Nope. Actually it was ok with the IRS and my employer, but the state would not allow it.
Mary Smith Jones would have been OK.
Mary Ann Jones would have been OK.
But for them to accept Ann Smith Jones, I had to go through a name change, the marriage license was not good enough. I got the Lt. Gov. and Sec. of State involved, and they were no help, the legal name change process was required to drop the Mary.

Sometimes you just have to live with the hassle.
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Re: Fidelity: can no longer use first initial, middle name

Post by nisiprius »

It is bizarre. We are supposedly in an age of internationalization, when everything is Unicode and all major websites get translated into many languages. Yet, within the United States, information systems are, more and more, forcing our names into a Procrustean bed of United-States-specific culture. It's not even close to universal within the United States.

There must be millions of people whose customarily sign their names on legal documents in some other form than first name, middle initial, last name. "Thomas F. X. Noble," "J. Paul Getty," "Juan Alberto Perez Morales" (where the surname is "Perez," not "Morales"--I think), and so on.

I personally have a strong preference to have my name presented in a form with no honorific at all, yet dozens of websites force me to choose from a list (Mr/Ms/Mrs/Miss/Dr/Rev, etc. etc.), do not offer a "none" option, and will not accept the form unless I pick one.

I am an occasional substitute teacher in the local high school, and I sometimes struggle with the attendance list because the silly IT system puts an absurdly short limit on names. They are presented last name first, so the first name of any long name is truncated. Fortunately there is another column for "M" or "F" (that could be another topic, but let's leave it alone) so I can guess whether "PAPADOPOULOS, ALEXAND" is "Alexander" or "Alexandra."

For heaven's sake! This is 2017! My smartphone has eight gigabytes of storage. We can afford to store peoples' full names, however long and complex, and we can write code to store the names in the form preferred by the people whose names they are.
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Miakis
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Re: Fidelity: can no longer use first initial, middle name

Post by Miakis »

I have a client whose first name is just one letter.

It's not short for anything. His legal first name is a letter.

I've never had to jump through so many hoops to get a name to "fit" into forms.
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Re: Fidelity: can no longer use first initial, middle name

Post by nisiprius »

I wonder if Fidelity's system can handle the "III" in "Edward C. Johnson III?"
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Re: Fidelity: can no longer use first initial, middle name

Post by HueyLD »

nisiprius wrote: Thu Oct 05, 2017 8:21 am I wonder if Fidelity's system can handle the "III" in "Edward C. Johnson III?"
Ha ha. I am sure there is a place to designate someone being a Jr., II, III, etc.

I know a lot of people with either a hyphenated first name (such as Ah-Ha) or a first name with a space in the middle (such as Ah Ha) and many systems seem to have trouble with such names.
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Re: Fidelity: can no longer use first initial, middle name

Post by Epsilon Delta »

Once or if you give in and change the name Fidelity uses from "I. Thom Boglehead" to "Thom Boglehead" or similar you will find no end of other organizations find the name change suspicious, treat using two different names is an admission of guilt, believe that these are two different people or all three at the same time.

I suggest retiring to a mountain redoubt with a good book, perhaps something by Kafka.
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Re: Fidelity: can no longer use first initial, middle name

Post by 123 »

I had a co-worker who had difficulty checking into a hotel with a prepaid reservation for a work conference because his (Asian) surname was only 2 letters. The desk clerk said their computer system's name search didn't work with short names. Eventually the reservation was found by it's connection with the larger group reservation.

I wonder if the Fidelity limitation is actually something similar.
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Re: Fidelity: can no longer use first initial, middle name

Post by Billionaire »

I wonder if it has something to do with fine tuning your PII data.

Back in the early 80's I worked in the payroll department of Paine, Webber, Inc. All of a sudden I'm seeing all of these highly paid executives, investment bankers and brokers using their first initial, middle and last name. It came across as a bit pretentious to me, but I wasn't making anywhere near $1,000,000.00 per year.
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Re: Fidelity: can no longer use first initial, middle name

Post by Nate79 »

What does your legal form of ID show? Considering the other thread about someone's IRA being stolen including a notarized form I would be super cautious these days that the name on your accounts match exactly the legal form of ID that you use.
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Re: Fidelity: can no longer use first initial, middle name

Post by azurekep »

nisiprius wrote: Thu Oct 05, 2017 8:17 am I personally have a strong preference to have my name presented in a form with no honorific at all, yet dozens of websites force me to choose from a list (Mr/Ms/Mrs/Miss/Dr/Rev, etc. etc.), do not offer a "none" option, and will not accept the form unless I pick one.
I ran into that the other day on a retail site. I figure the honorific will be used for marketing purposes as customers are put into some kind of gender / marital status bin. If Fidelity asked for that kind of information, I'd provide it (while holding my nose), since I want to follow every rule to the T at a brokerage. However, if a retail site asks for it, from now on I'll put in the wrong honorific. I don't want to make their dossier-building too easy.
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Re: Fidelity: can no longer use first initial, middle name

Post by Pajamas »

I use my full name on my financial accounts because, as far as I can tell, it is unique. My first and last name combination is common, even including my middle initial. I think that is best practice.
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Re: Fidelity: can no longer use first initial, middle name

Post by Phineas J. Whoopee »

Speaking of US cultural assumptions about names, I remember reading something somewhere, a letter to the editor or a comment on a news story, something like that, complaining that referring to then-current UN Secretary General Ban Ki-moon as Ban was disrespectful, because we should use his last name.
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Re: Fidelity: can no longer use first initial, middle name

Post by spammagnet »

I was affected by this. My Fidelity accounts all were first initial, middle name, last name. They unilaterally changed. I didn't waste any effort arguing the point once informed why.

I don't doubt that some national regulation requires it. It doesn't make it any less annoying that someone else should dictate how I use my name. I'm not attempting to misrepresent myself or commit fraud. The combination is unique, which prevents confusion.

BTW, for databases that require first name and have only an initial for middle, tell them to record first initial<space> middle name in the first name field. It often works. I've done that with other banks for credit cards, without a problem.
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Re: Fidelity: can no longer use first initial, middle name

Post by spammagnet »

azurekep wrote: Thu Oct 05, 2017 11:33 am
nisiprius wrote: Thu Oct 05, 2017 8:17 am I personally have a strong preference to have my name presented in a form with no honorific at all, yet dozens of websites force me to choose from a list (Mr/Ms/Mrs/Miss/Dr/Rev, etc. etc.), do not offer a "none" option, and will not accept the form unless I pick one.
I ran into that the other day on a retail site. I figure the honorific will be used for marketing purposes as customers are put into some kind of gender / marital status bin. If Fidelity asked for that kind of information, I'd provide it (while holding my nose), since I want to follow every rule to the T at a brokerage. However, if a retail site asks for it, from now on I'll put in the wrong honorific. I don't want to make their dossier-building too easy.
Hmm... I wonder what "Rev" would get you. It's genderless, except for those who make sexist assumptions. As an RN, I got a lot of those.
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Re: Fidelity: can no longer use first initial, middle name

Post by nisiprius »

spammagnet wrote: Thu Oct 05, 2017 5:17 pm...I don't doubt that some national regulation requires it...
I do. I absolutely do. I've been told totally false nonsense so many times by customer-facing people that I would not make any prima facie assumption that it's true. Big corporations do not show good faith on this. It's always "the government forced us to do it." I remember a phone company telling me flatly that the FCC required them to charge me something, when of course the truth was that the FCC allowed them, but did not require them, to do it.
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Re: Fidelity: can no longer use first initial, middle name

Post by Pajamas »

nisiprius wrote: Fri Oct 06, 2017 8:52 am
spammagnet wrote: Thu Oct 05, 2017 5:17 pm...I don't doubt that some national regulation requires it...
I do. I absolutely do. I've been told totally false nonsense so many times by customer-facing people that I would not make any prima facie assumption that it's true. Big corporations do not show good faith on this. It's always "the government forced us to do it." I remember a phone company telling me flatly that the FCC required them to charge me something, when of course the truth was that the FCC allowed them, but did not require them, to do it.
I have to agree with this. My internet service provider includes a "Municipal Construction Surcharge" of 10% of the base cost of my service. I have been told by multiple customer service reps in response to my questions that this money is a form of tax that is collected by law by the ISP on behalf of the city and that the ISP doesn't keep this money but simply passes it along to the city. That is not true. It is just another fee or service charge masquerading as a tax. I have reported this misrepresentation to their headquarters and to the state but have no doubt that they are still misrepresenting it.

It's not unique. Any organization (including government) will have employees who misunderstand, misrepresent, or simply are not aware of changes in laws, regulations, and internal policies.
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Re: Fidelity: can no longer use first initial, middle name

Post by azurekep »

spammagnet wrote: Thu Oct 05, 2017 5:21 pm
azurekep wrote: Thu Oct 05, 2017 11:33 am
nisiprius wrote: Thu Oct 05, 2017 8:17 am I personally have a strong preference to have my name presented in a form with no honorific at all, yet dozens of websites force me to choose from a list (Mr/Ms/Mrs/Miss/Dr/Rev, etc. etc.), do not offer a "none" option, and will not accept the form unless I pick one.
I ran into that the other day on a retail site. I figure the honorific will be used for marketing purposes as customers are put into some kind of gender / marital status bin. If Fidelity asked for that kind of information, I'd provide it (while holding my nose), since I want to follow every rule to the T at a brokerage. However, if a retail site asks for it, from now on I'll put in the wrong honorific. I don't want to make their dossier-building too easy.
Hmm... I wonder what "Rev" would get you. It's genderless, except for those who make sexist assumptions. As an RN, I got a lot of those.
I think all that matters is that there's a "bin" that a customer can go in. Algos like bins for first-order processing. Rev may not give gender, but could influence certain buying preferences.

I see further down the thread there's a discussion of whether certain requirements are national regulations. I remember a brokerage web site "requiring" certain bits of information. I asked why the information was needed and was told that it was a SEC requirement. Since SEC is just about the most incompetent Government agency around, I decided the info was better left blank.

I believe I later decided to add the information because I thought the brokerage was citing the wrong Government agency. I think it actually was a Patriot Act requirement and so added the information.
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Re: Fidelity: can no longer use first initial, middle name

Post by an_asker »

nisiprius wrote: Thu Oct 05, 2017 8:17 am [...]For heaven's sake! This is 2017! My smartphone has eight gigabytes of storage. We can afford to store peoples' full names, however long and complex, and we can write code to store the names in the form preferred by the people whose names they are.
And however it is stored, in the USA, you will be addressed by your name's neutered truncated-to-one-syllable version anyway!

Full story: An export from India, I own an impressive four-word name that includes village name, father's name, and my surname (aka last name). In India throughout up to undergrad school, I went with V(illageName) F(ather'sName) MyGivenName Surname. When I started applying to US universities, I had to put it in the only order colleges in the USA could apparently accept/understand names (in the name of normalization, everything goes) - first name, middle name, last name. :oops:

So, on paper, I became MyGivenName V(illageName) LastName, though on my passport I did retain F(ather'sName) as well. Needless to say, not one American can pronounce MyGivenName which is formed of four syllables. I had been bestowed a nickname in Undergrad school which I shared unabashedly (until I learned, very late in the game, that its short form :oops: has a derogatory slang meaning). So, then, the best thing for me was to request to be addressed as MyGivenName'sFirstSyllable!

Along came Patriot Act, and I had to have my Florida DL renewed to match my passport (which has all four names in it). So now, on my Florida DL, my name takes all of two rows!!

PS: I don't understand OP's frustration in spelling out his/her complete name. Whether you like it or not, having a complete full name on record is probably the only way law enforcement can distinguish one person from another if they both go by, say, "Jesus H Christ"! For sure, you wouldn't want to be held up at airport security just because your second and third name matched someone on the no-fly list! As to your concern on how you are addressed, a) if you meet the other person often, surely you can tell him/her what you would prefer to be called and b) if you meet the other person rarely, well why would you care what he/she addresses you as? It is not going to happen all that often anyway!
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Re: Fidelity: can no longer use first initial, middle name

Post by an_asker »

Phineas J. Whoopee wrote: Thu Oct 05, 2017 3:48 pm Speaking of US cultural assumptions about names, I remember reading something somewhere, a letter to the editor or a comment on a news story, something like that, complaining that referring to then-current UN Secretary General Ban Ki-moon as Ban was disrespectful, because we should use his last name.
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Maybe if that Egyptian Secretary General had reinvented himself as BBG, Sienfeld wouldn't have made fun of his name! ;-)
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Re: Fidelity: can no longer use first initial, middle name

Post by sport »

A humorous version of this: I picked up a magazine in Vince's Barber Shop. The address label was addressed to "Vince B Shop".
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Re: Fidelity: can no longer use first initial, middle name

Post by Cyclone »

There is absolutely nothing in the Patriot Act that says financial institution customers cannot use an initial as their first name.
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Re: Fidelity: can no longer use first initial, middle name

Post by greg24 »

There are lots of regulations that require banks to have the customer's name on file. The OP is not supplying his bank with his full legal name.
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Re: Fidelity: can no longer use first initial, middle name

Post by InvestorThom »

greg24 wrote: Fri Oct 06, 2017 1:02 pm There are lots of regulations that require banks to have the customer's name on file. The OP is not supplying his bank with his full legal name.

The financial institution does not need a customer’s “full legal name.” There is absolutely no federal law/regulation/requirement that the financial institution have a customer’s first name on an account or that prevents a customer from using their first initial on an account. NONE. The Patriot Act requires financial institutions to have a Customer Identification Program (CIP). Fidelity has a CIP and they collect and verify a lot of information to verify the identity of their customers. They do not need a first name on an account to do this.

I was a Fidelity customer for years. I was not a new customer opening an account having just stepped off a plane from Estonia with a Nigerian passport, a last address in Somalia, a new address in Jamaica, NY and depositing funds using multiple Middle Eastern currencies.

I was completely satisfied with Fidelity until 1) Fidelity tried to tell me how to use MY name and 2) chose to LIE to me several times by stating this was a requirement of the Patriot Act (as well as other uninformed, arrogant, incorrect excuses). I transferred my assets to another financial institution that does not have a policy to jerk around their customers.
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Re: Fidelity: can no longer use first initial, middle name

Post by JGoneRiding »

Nate79 wrote: Thu Oct 05, 2017 11:21 am What does your legal form of ID show? Considering the other thread about someone's IRA being stolen including a notarized form I would be super cautious these days that the name on your accounts match exactly the legal form of ID that you use.
Not always helpful. States have been notoriously lacks on name on state Id now having issues as feds don't want to except them. For example when I went in with my marriage license they pretty much allowed me any combo I wanted. The SSA is a bit more picky and has a time frame on status of legal name change. So real question is what does your ss card say?
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Re: Fidelity: can no longer use first initial, middle name

Post by PDX_Traveler »

InvestorThom wrote: Thu May 09, 2019 10:52 pm
greg24 wrote: Fri Oct 06, 2017 1:02 pm There are lots of regulations that require banks to have the customer's name on file. The OP is not supplying his bank with his full legal name.

The financial institution does not need a customer’s “full legal name.” There is absolutely no federal law/regulation/requirement that the financial institution have a customer’s first name on an account or that prevents a customer from using their first initial on an account. NONE. The Patriot Act requires financial institutions to have a Customer Identification Program (CIP). Fidelity has a CIP and they collect and verify a lot of information to verify the identity of their customers. They do not need a first name on an account to do this.

I was a Fidelity customer for years. I was not a new customer opening an account having just stepped off a plane from Estonia with a Nigerian passport, a last address in Somalia, a new address in Jamaica, NY and depositing funds using multiple Middle Eastern currencies.

I was completely satisfied with Fidelity until 1) Fidelity tried to tell me how to use MY name and 2) chose to LIE to me several times by stating this was a requirement of the Patriot Act (as well as other uninformed, arrogant, incorrect excuses). I transferred my assets to another financial institution that does not have a policy to jerk around their customers.
Be that as it may, financial institutions *are* requiring full legal name to set up new accounts. I am dealing with this at the moment with Merrill - my recently set up account there required me to use my full legal name. For my decades old Vanguard account - Vanguard accepted without any pushback my name with my first and middle names initialized. But that has created a headache in trying to transfer assets between Vang. and Merrill.
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Re: Fidelity: can no longer use first initial, middle name

Post by vtMaps »

PDX_Traveler wrote: Fri May 10, 2019 2:20 am But that has created a headache in trying to transfer assets between Vang. and Merrill.
^ this.
Whatever name/format you use, it should be the same at all financial institutions, including SS, treasury direct, IRS, etc. I think that your name is the title of your account, and it's much easier (sometimes required) to link accounts with the same title.

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Re: Fidelity: can no longer use first initial, middle name

Post by Tamarind »

azurekep wrote: Thu Oct 05, 2017 11:33 am
nisiprius wrote: Thu Oct 05, 2017 8:17 am I personally have a strong preference to have my name presented in a form with no honorific at all, yet dozens of websites force me to choose from a list (Mr/Ms/Mrs/Miss/Dr/Rev, etc. etc.), do not offer a "none" option, and will not accept the form unless I pick one.
I ran into that the other day on a retail site. I figure the honorific will be used for marketing purposes as customers are put into some kind of gender / marital status bin. If Fidelity asked for that kind of information, I'd provide it (while holding my nose), since I want to follow every rule to the T at a brokerage. However, if a retail site asks for it, from now on I'll put in the wrong honorific. I don't want to make their dossier-building too easy.
As someone who works on the databases at the back end of sites like that, let me assure you they are unlikely to do any such thing. It's pure habit and inertia all the way down, and the honorific data is rarely used at all, unless it feeds back into an email template or mail merge. Most retailers do not significantly customize the data elements of their store but use an off-the-shelf setup. The site providers in turn are just using elements that they've always seen used. It's turtles all the way down.

Those retailers that do want your gender or marital status for marketing purposes might be buying customer dossier data, or more likely these days just trusting their ad networks to handle the automated targeting without ever holding the data themselves. Google and Facebook unfortunately don't need your honorific to guess your gender. :x Sites built by entities that have regulatory reqirements (employers, doctors, etc) will ask outright for gender and make that field mandatory too.
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Re: Fidelity: can no longer use first initial, middle name

Post by HueyLD »

Ron wrote: Thu Oct 05, 2017 7:52 am No problem here; I have no middle name :mrgreen: ...

While I was in the military, my records were annotated "NMI" where the middle initial would be stated.
I think it was NMN. I also do not have a middle name and some government forms required me to put “NMN” in the middle name field. So, I received correspondence from them and was identified as Joseph NMN Smith. :-)
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Re: Fidelity: can no longer use first initial, middle name

Post by Dottie57 »

Cyclone wrote: Fri Oct 06, 2017 12:54 pm There is absolutely nothing in the Patriot Act that says financial institution customers cannot use an initial as their first name.
I think the rule is in interpretation of Know You Customer. Verification of identity and flow of money.
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Re: Fidelity: can no longer use first initial, middle name

Post by Broken Man 1999 »

I have gone by my middle name for life, actually a nickname for middle name.

My father went by his middle name, also. Though his father had the same first name, as do I. Perhaps he went by his middle name to prevent confusion with his father.

On any official documents, I sign "First name, Middle initial, Last name."

On the net I sometimes use "First initial, Middle name, Last name." usually to judge the spam I get and where it originates.

My daughters often use their maiden last name as their middle name.

IMHO the entity has the right to request whatever your official name might be. If they don't stray from whatever is on your birth certificate, I see no issues. If they ask for "First name, middle initial, last name" it should match. They don't want (or care) what you want to be called, they simply want your official name.

The few businesses I talk to almost always address me as Mr. (My Last Name). When I get a call from someone using my first name, I know I don't know them, and they aren't a friend or relative. And, the next thing they usually hear is, "Goodbye!" There is a huge chance they are trying to sell me something.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go. " -Mark Twain
yakk0
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Re: Fidelity: can no longer use first initial, middle name

Post by yakk0 »

Spirit Rider wrote: Thu Oct 05, 2017 1:42 am I'm surprised you have gotten away with it this long.
It seems like they don't enforce it until some activity forces a correction. My legal name is Firstname1 Firstname2 Lastname. I go by a nickname to everyone I know. I use Firstname1Firstname2 (no space) Lastname for most things, but in my old work system, my name was entered as Nickname Firstname1Firstname2 Lastname and that's how my 403b account was opened and named with Fidelity. This was well after Patriot Act stuff went into effect. It remained that way for years, until I had to transfer in kind from a different brokerage that did have my legal name and Fidelity required me to upload ID and changed my name to match.

I used to work for someone who had a family tradition where all the males had the same first name, so they generally went by FirstInitial MiddleName, as the OP does. The common first name was William, and his oldest son (of 3) went by the nickname Wilbur/Wil. I don't know if there was a good reason for the additional nickname, but as someone who has faced many legal/nickname annoyances over my lifetime, I felt so bad for the kid for having that layered on top of the already complicating "same first/last name as many, many members of family" situation.
mainiac
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Location: Maine

Re: Fidelity: can no longer use first initial, middle name

Post by mainiac »

Both my dad's and brother's first names are John, but they have always used their middle names.
My husband's first name is also John, but has always used his middle name of Paul.
His drivers license lists J. Paul
The IRS lists J. Paul
Employer lists as J. Paul
Health insurance is J. Paul
Passport has full name and SS has full name.

The local hospital insisted on using the name John. He protested. Hospital said they needed full name, said they could put a nickname into the system. They NEVER used the nickname, staff would come into the waiting room and call "John". Husband never heard that because it isn't his name. That name also didn't work when trying to get his attention when waking up from anesthesia...

He complained multiple times. The hospital legal dept said he had to be John in their system and had the nerve to suggest that he legally change his name.

We crossed out the name on the billing statements several times and wrote in Paul. Finally someone updated the name in the database and it is no longer an issue (so far!).

Don't do this when you name your kids!!
Alan S.
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Location: Prescott, AZ

Re: Fidelity: can no longer use first initial, middle name

Post by Alan S. »

And I don't think parents have figured this out yet. Giving their kid a high hassle name comes in a variety of formats, and lasts them a lifetime.

Of course, then there's this: https://www.youtube.com/watch?v=_Gbtm-93oqE
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unclescrooge
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Re: Fidelity: can no longer use first initial, middle name

Post by unclescrooge »

Isn't this an issue of the unconventional naming convention that flaunts societal norms and an intrusive government policy, and less to do with the financial institution?
spammagnet
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Re: Fidelity: can no longer use first initial, middle name

Post by spammagnet »

vtMaps wrote: Fri May 10, 2019 3:44 amWhatever name/format you use, it should be the same at all financial institutions, including SS, treasury direct, IRS, etc. I think that your name is the title of your account, and it's much easier (sometimes required) to link accounts with the same title.
Since the first initial format was acceptable in the past, many established accounts already are in that format. If you try to open a new account elsewhere and transfer between banks, the new bank requires the full legal name format, and will never match.
spammagnet
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Re: Fidelity: can no longer use first initial, middle name

Post by spammagnet »

vtMaps wrote: Fri May 10, 2019 3:44 amWhatever name/format you use, it should be the same at all financial institutions, including SS, treasury direct, IRS, etc. I think that your name is the title of your account, and it's much easier (sometimes required) to link accounts with the same title.
Since the first initial format was acceptable in the past, many established accounts already are in that format. If you open a new account elsewhere and attempt to transfer between banks, the new bank requires the full legal name format, and will never match old bank.
littlebird
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Re: Fidelity: can no longer use first initial, middle name

Post by littlebird »

Broken Man 1999 wrote: Fri May 10, 2019 12:46 pm
I have gone by my middle name for life, actually a nickname for middle name.

IMHO the entity has the right to request whatever your official name might be. If they don't stray from whatever is on your birth certificate, I see no issues. If they ask for "First name, middle initial, last name" it should match. They don't want (or care) what you want to be called, they simply want your official name.

Broken Man 1999
My late spouse just made it out just in time. I shudder to think of him having to reveal to Vanguard that his official name, as shown on his 1926 birth certificate, is Male Baby *littlebird*.
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