INVESTING WITH FIDELITY OR INTERACTIVE BROKERS

pdlinda · ‎10-23-2011

Anybody have experience investing an IRA with Fidelity or Interactive Brokers?

I'm planning on switching my brokerage acct and those two brokerage houses were recommended.

Experience with their Customer Service and investment outcomes are valuable to me. Thanks!!

drizzellla · ‎03-14-2010

PLEASE - Look at the fees the different brokers are charging.

My Mother invested money in one brokerage firm. They charged fees and lots of them PLUS the stock market was doing well and going up and up and she was still losing a considerable amount.

Please do some homework and get a prospectus for each fund you want to invest in..

KathyM23 · ‎11-20-2010

I worked with Fidelity in my job and in another job my IRA was invested with Fidelity. Never had an issue. Customer Service in my experience was good with Fidelity.

I have no knowledge nor heard of Interactive Brokerage.

I would check with my Investment Advisor for any information or experience with any brokerage firm tho. I'm sure there are several good and several not so good. I would want a professional opinion. Hopefully you have trust in your Advisor so I would rely on his recommendations.

pdlinda · ‎10-23-2011

@drizzellla From the info I read online, there are no fees from Fidelity; however, I'll call tomorrow and confirm exactly what their fees are for all transactions.

occasionalrain · ‎03-10-2010

My 401k was with Fidelity and I was happy with it, then my company switched to Advantage. I'm not as happy with it. My advice is to give Fidelity a call and talk to one of their representatives. You'll get a positive or negative feeling. That's what I do.

pdlinda · ‎10-23-2011

@I agree with your approach. Thank you.

walker · ‎03-26-2010

My husband and I have been with Fidelity for several years. We have been very pleased with our service. We do pay a quarterly fee. Agree with others, call and get information to see if it would work for you.

drizzellla · ‎03-14-2010

@pdlinda wrote:
@drizzellla From the info I read online, there are no fees from Fidelity; however, I'll call tomorrow and confirm exactly what their fees are for all transactions.

I have an account at Fidelity. I do have some annual fees with my account. But I have not touched the account in years. It was a 401K from a company where I used to work and was sold.

Since I am not selling or moving any of the money around, I would not generate any additional fees. And their customer service was quite nice. Because I have not touched the account in over 25 years I had to call and get a log in password. They were most helpful.

But please get a prospectus.

I was shocked, my Mom was in assisted living. She "on a whim" took money and invested in a brokerage firm associated with the biggest organization for older adults.

I happened to read the prospectus and was shocked at all the fees they charged. And the fees were buried and you had to read quite a bit before you got to them. I could see how people like my Mother never read that far to see not only the % being charged but the fees being charged throughout the life of the investment.

I asked my Mom why she invested with them. Her reply "They are looking out for senior citizens."

I know I said it before but PLEASE read the prospectus.

PS - Maybe the Fidelity fees are quarterly and not annual. But they aren't unreasonable.