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Posted by
Message
Looking for opinions, reviews, or experiences with Fidelity wealth management.
Posted by oildog on 1/3/21 at 9:37 am
1
0My 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.
Posted by AugustaTiger 
on 1/3/21 at 2:01 pm to oildog
on 1/3/21 at 2:01 pm to oildogTheir 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.
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.
Posted by molsusports 
on 1/3/21 at 2:21 pm to AugustaTiger
on 1/3/21 at 2:21 pm to AugustaTigerTheir charges will significantly decrease your portfolio growth over long periods of time
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....
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....
Posted by MSTiger33 
on 4/4/22 at 9:12 pm to AugustaTiger
on 4/4/22 at 9:12 pm to AugustaTigerquote:
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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