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oildog
Member since Jun 2016
61 posts

Looking for opinions, reviews, or experiences with Fidelity wealth management.

My retirement accounts are with Fidelity and as the subject states I’m looking for info on real life thoughts and opinions on their wealth management services.


AugustaTiger
LSU Fan
Augusta, Georgia
Member since Dec 2017
671 posts

Their managed accounts are often just as expensive if you went to an “in person” financial advisor.

The advisors there also have very large books of business (upwards of 800) and you will likely be just a number.

The advisors are also not allowed to give investment recommendations, they basically slap you into a Fidelity model portfolio (usually all of their in house funds) and give you financial planning guidance.

Not a terrible service, but in my opinion, I don’t think I’d pay 1% or even .5% for it. Especially when they stack you in all Fidelity funds and ETFs.

I know this because I have a friend that is an Advisor there.


molsusports
Ohio State Fan
Member since Jul 2004
33623 posts

Their charges will significantly decrease your portfolio growth over long periods of time


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TheWalrus
LSU Fan
Memphis
Member since Dec 2012
32841 posts

Just dump everything in FXAIX and pay .015% or something


Thecoz
Member since Dec 2018
1919 posts

i have had them for over 40 years...came with my first corp job out of school ... changed corps and they used schwab...both great but most of my 401 was fidelity so merged to them when retired..i let them manage it because i wanted a set international--sp and later bond index..had a few funds for focus like tech ..dividend growth...not bad but not sure any worth their rate...

when i retired i went 50percent bonds 50 percent equities...

they wanted to manage my retirement portfolio at a set rate.(times yge entire package)...i said heck half is just bonds... not paying you to manage that

i have four funds.as op said...very very low cost...index

..ftihx..fxaix ( equities)

two bond funds fcbfx fxnax

then about 20 individual corp bonds and

two immediate fixed annuities

all bought through fidelity...


they have everything you need but consider letting them manage a year or two and compare to what you would get with just a few low cost index funds...from them....

they are good for when you are young to watch and help you learn and become disciplined....




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ronricks
SMU Fan
Member since Mar 2021
2691 posts
 Online 

quote:

Just dump everything in FXAIX and pay .015% or something


This


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SurfOrYak
LSU Fan
BR/MsDelta
Member since Jul 2015
338 posts

quote:

Just dump everything in FXAIX and pay .015% or something


Just dump everything in FZROX and pay .000%


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MSTiger33
LSU Fan
New York City
Member since Oct 2007
18316 posts
 Online 

quote:

Their managed accounts are often just as expensive if you went to an “in person” financial advisor.

The advisors there also have very large books of business (upwards of 800) and you will likely be just a number.

The advisors are also not allowed to give investment recommendations, they basically slap you into a Fidelity model portfolio (usually all of their in house funds) and give you financial planning guidance.

Not a terrible service, but in my opinion, I don’t think I’d pay 1% or even .5% for it. Especially when they stack you in all Fidelity funds and ETFs.

I know this because I have a friend that is an Advisor there.


Fairly aacurate. Their Private Wealth service is really hands on if you qualify for it.


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slackster
Stanford Fan
Houston
Member since Mar 2009
77542 posts

If you’re looking into wealth management fee programs and you’re paying simply for the portfolio allocation, you’ll never get any value out of it. If they can help you with real, comprehensive financial planning, it can be worth it.


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