Community Chat

[gizmogal]

I couldn't recommend Fidelity highly enough. They've made it easy for me to sleep at night just because they manage my money. All of it. That means my IRA, which used to be the 401K before I retired. The RMD yields off the IRA, and a modest share of inheritance from my parents' passing many years ago. Substantial money safely managed. 

I have a Fidelity fiduciary advisor who is in contact with me twice a year to make sure my needs or financial goals are known and pursued. She makes good suggestions if I have questions and she took the trouble to get to know me, how I live, my family relationships, etc, all to have a feel for how I make decisions and my attitude toward risk. I'm a client, not an account. 

Fidelity paperwork/reports are clear and detailed, so on a monthly basis you can get it in the mail or check your documents for your account online to see just how your money was invested and its profit/loss. You get notified of all transactions by email. There is no delay getting tax documents out to you in compliance with deadlines. 

Fidelity money management fees are based on how well your money does under their management. There are no transaction fees if you are doing your own investing, making those transactions yourself. There are only management fees based on your account's growth or not if they are managing it for you.

I've had substantial amounts of money managed there for nearly 20 years; the Strategic Advisor assigned to me has changed only once in all that time. That means ongoing, stable relationships with someone I trust and can reach out to any time. And that means a lot of services performed on my behalf.

I'm not a millionaire, but Fidelity treats me like one. And they are absolutely in compliance with their fiduciary obligations. That means that they always have to act to my interests before their profitability. They have to make decisions and investments that would do best for me. If they have a mutual fund or some other opportunity they'd like to use my funds toward, they have to stay within my goals, my risk tolerance, my preferences. Client first is a fiduciary obligation and Fidelity is true to it. 

I sleep well and know my nest egg is safe and protected by my use of Fidelity for financial expertise  and responsibility for providing me with reliable income or profit to reinvest, as needed. They have my complete trust. 

It's very easy to move your account elsewhere if you're not satisfied. Try Fidelity and stay informed by the monthly

reports for a while to make sure you like doing business with them. If you're not happy, I can assure you the next financial institution you select will easily effect the transfer of your funds out of Fidelity and make sure it's no hassle to change. But you won't want to. 

Wishing you best of luck with your IRA!

[Diamonds22]

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@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.

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I have been with Fidelity for 28 years & have been satisfied with them & their Customer Service is great. As far as fees it depends on which stock, mutual funds, etc. you invest. Some have fees & some don't. I have friends that have invested with Fidelity & they too are very happy with them.

[PickyPicky3]

Over the years I've known people who have worked at Vanguard, and it's always been described as an ethical company with high standards.

One person had supported himself as a pizza delivery man while getting an MBA at Wharton before getting hired at Vanguard. Hard worker.

[drizzellla]

STOCK MARKET NEWS: Dow sinks 543 points

DOW JONES AVERAGES(IJI)

32,254.86 -543.54  (-1.66%)

Maybe it is a good time to invest in the stock market. If that is what you want - a bumpy ride.

 

[phoenixbrd]

Vanguard and Fidelity are solid financial institutions.  However, at this time, I would not invest in securities.  

[kaydee50]

We have accounts at both Fidelity and Schwab.  No problems with either of them but then my "financial advisor" is my husband!!  I also worked on Wall Street for a few years so we are both comfortable making our own investment decisions.  Don't trust anyone with our money--LOL!!

[SeaMaiden]

We pay about $10,000 a year in brokerage fees with our brokerage firm. I think it is like 1% or something like that. We feel comfortable with the person we are using and he looks out for us as well as for himself as he is a fiduciary. 

Always good though to keep up on your account each day....never be 100% trusting with ANYONE concerning YOUR MONEY.  REMEMBER Bernie Madolff......

[FiddleDeeDee]

@pdlinda We started out with Fidelity but switched to Vanguard. No issues with Fidelity; it was simply who DH's employer was using for their 401K's.

We initially used a broker to purchase stocks and assist with our choices but found that we made more money doing it ourselves; a LOT more money. I have a difficult time trusting anyone who is making money off of us but doesn't lose if we lose, you know? Plus, the fees....if we can avoid them, we will. 

[kitty60]

@kaydee50 I too deal with both Fidelity and Schwab.  Again, do my own research and have no problems with either.  

[MaverDaver]

I've been with Fidelity since 2001. My former employer had Fidelity handle our 401K accounts. After retiring in 2001 I stayed on and have not been disappointed with their offerings. I chose a 'managed portfolio' wherein they handle all investments. Yes there have been some hiccups along the way i.e., 2008 where everybody took a hit but they got me back my loss in approximately 6 yrs and its been growing since then EXCEPT the past two yrs thanks to Uncle Joe!  

Every six months they set up a review to be sure there aren't any signigicant changes in my expenses.