Fidelity mymoney checkup full#

I told him it was a non-starter, I currently pay 0.08% at Vanguard. I went to a financial seminar once (free lunch, it wasn't worth it), and have been getting mailings to my house for probably 3 years or more. I don't feel comfortable telling people how much money I have. And the less likely you will be taken in by the BS.Ģ. So I would say: the more you know, the more useful you will find a meeting. I agree with some of the posters that it can be worthwhile to have a review of your portfolio, or have a financial planner give you guidance, but if the OP knows next to nothing, he won't likely be able to discern the gold nuggets from the BS. I have to add additional info to my post above:ġ. Get your investment advice from this forum you will save 1% AUM) JoinToday wrote:Send me 1/2% AUM every year, and we will both come out ahead. This would be a lower cost option that maybe they might be more willing to consider. The fee in the former will be up to 0,35%, in the latter it will be up to 0.39% They will use Fidelity Spartan index funds in tax-advantaged accounts and BlackRock iShare ETFs in taxable. Now, this not to say that I recommend any Boglehead use such a service, but for those who choose someone else to manage their portfolio, there are fare worse choices.įidelity is currently testing a robo-advisor service and tentatively plans to roll it out in the second half of this year. If it is in taxable they should be in a tax-managed service. If this is a tax-advantaged account, there are no loads and there is no tax cost to the churning. Also, with Fidelity managed service, I believe there is at least a partial credit for the individual fund expense ratios against the AUM fee.

Expense ratio not as bad as I imangined ~0.7%,but when you add in the 1%, that really adds up.įidelity has not done your in-laws wrong. Have tried to explain to them the issues but FIL won't budge. Charging my FIL 1% AUM for a 30/70 collection of 18 funds that is constantly churned. Ryerle wrote:Don't know the whole story, but I feel like Fidelity has really done my in-laws wrong. However, if I'd had the wit to log into Fidelity not as a plan participant, I'd have seen that their regular public website listed the same fund ticker symbol with only an 0.50% ER. The plan might simply an expense ratio of, let's say, 0.80% for a fund, and I assumed that was 'the' expense ratio. The pregnant pause was the place at which he failed to mention the fairly-well-hidden fee in my 401(k) plan. because it will be to your advantage to do so.' Me: 'Because that way I'll have a wider choice of funds to invest in?' In any case, you definitely should do the rollover into the Fidelity rollover IRA. It has to be at Fidelity, if you want to roll it over to some other firm you must first roll it over to Fidelity and then transfer the holdings. Him: 'So you can roll your 401(k) holdings into a rollover IRA. The conversation went something like this: But the next year I had an opportunity for another session and didn't bother to do it.Īn interesting example of being 'straight.' I had turned 62-1/2 and our plan allowed in-service rollover to a Fidelity rollover account.

Most of the conversation was about 'retirement,' not about 'Fidelity funds.' I thought it was worth the time. I thought the guy was helpful, pretty straight, not pushy, and did not push Fidelity products to any noticeable extent. When I worked at a company with a Fidelity-managed 401(k) plan, they had a no-cost-to-me 'annual retirement checkup' with a CFP whose Fidelity card said something about his being from their 'retirement services' group. I'll say, 'Yeah, if it doesn't cost you anything out of pocket, it's worth a shot to try and and see what you think.' If nothing else, you'll probably get your account flagged for 'Fidelity Premium Services' which gives you access to a set of call center reps who are pretty decent. But go in with low expectations and high skepticism. After my last f2f meeting, which they initiated ('a six-month review'), I decided that going back is probably a waste of my time. They have helped me find my way around Fidelity's online tools. The current one wasn't aware of how tIRA assets interfere with backdoor Roth. When I've had questions re: beneficiary planning, they've been FAR less helpful than Jim Lange's 'Retire Secure' book. His replacements have been moderately clueless, but at least they haven't made any promises they didn't deliver on.

Fidelity mymoney checkup full#

The first CFP made a deal with me: move more of my money to Fidelity and get ongoing financial planning services, including (as I understood it) a full financial plan. No one has tried to sell me any higher-priced services (yet), though one has gently pitched annuities ('fixed expenses should be met with fixed income'). And, after the first guy left Fidelity, I've done it with two more.