Fidelity Review

fidelity logo
Phone Support800-343-3548
BCA Accredited RatingB (On a scale of AAA to F)
BCA Complaints0
TrustLink ReviewsN/A
IRA Transfer Process10 Days
401(K) Rollover Process21-28 Days
Metals Delivery7-10 days
Setup FeesNot Disclosed
Annual Admin Fees2.9% of Total Amount
Annual Storage FeesNot Disclosed
Preferred CustodianUnknown
Preferred DepositoryUnknown
Min Purchase Amount$2,500
Physical IRA Application
Digital IRA Application
U.S. Mint Listed Dealer
ICTA Membership
TRUSTe Verified
Norton Secured

Selecting the right investment vehicles, including stocks, bonds or precious metals, determines how well your portfolio performs. However, choosing the right investment firm can make a significant difference in how prepared you are for your future. Making the wrong decision can make or break your retirement goals because some firms have a better track record than others. The following Fidelity review will help you decide if Fidelity’s background, products and accomplishments fit your retirement needs.

Who Is Fidelity?

two men walking towards fidelityFidelity has delivered investment services for more than 60 years. Founded in 1946, the company provides a range of financial products, including 401(k), mutual funds and trading services. The firm, which is headquartered in Boston, services its 20 million customers by phone, brick-and-mortar investor centers and online methods.

The company employs more than 42,000 people at locations across the United States and Canada. The firm’s staff is one of the largest in the industry. You can expect access to nearly every investment class available. The company provides portfolio and retirement planning and brokerage services. Fidelity has an 11.9% market share for assets, which includes mutual funds and trusts.

Finally, the firm’s research services are highly rated. Investors gain access to a wealth of investing knowledge through its Fidelity Learning Center. The learning center offers a knowledge base and research on investment products, trading and personal finance, to name a few. Furthermore, you can access a number of features using mobile applications designed for smartphones.

How Much Will Fidelity’s Services Cost?

Fidelity offers several account types, including brokerage, cash management, individual retirement accounts, 529 college savings accounts and managed accounts. The company does not charge a fee to open IRAs, brokerage, cash management or 529 accounts. If you do not roll over a Roth IRA or traditional IRA, the firm requires a minimum $2,500 or $200 per month to open an account. Brokerage accounts require $2,500 and 529 accounts require $50 or $15 per month upon opening.

Fidelity is transparent with regard to fees and pricing. Stock trades cost $7.95 and there are no-load and no-transaction-fee funds available. Despite this, Barron’s rated Fidelity’s cost lowest among other investment firms.

Pros and Cons

customer supportFidelity offers customers 24/7 support and a wide range of research tools. You will also gain access to multiple financial reports to help you make informed decisions. You can choose from more than 500 mutual funds, which cost less than many competitors. In addition, the firm offers a wide range of investment types and customers receive personalized service.

On the other hand, non-Fidelity mutual funds are expensive and Fidelity only offers some services to specific customers. For example, qualified customers receive real-time quotes and account privileges depend on how much your account is worth.

Finally, Barron’s rated Fidelity four out of five stars. The highest rated category was Fidelity’s research tools. Smart Money rated the company 1st overall, although commissions and fees were the lowest rated category.

Things to Consider

Fidelity works well for investors interested in long-term strategies. If you are interested in short-term investing, a different company might suffice. Furthermore, seasoned investors might decide to look elsewhere because the firm’s strategy provides the best value for novice investors.

People interested in working with a company that offers brick-and-mortar centers will find the firm an excellent choice. In addition, you must complete more than 120 trades annually to gain access to streaming quotes—and the trades must be completed using the Active Trader Pro software.

The Overall Verdict

Fidelity’s services come backed with more than 50 years of experience. The company provides customers with several options, including investor centers, telephone or online, for managing accounts and receiving personalized guidance.

Customers can choose from a rich selection of investment options. While the company waives minimum deposits for rollover IRAs, the cost of entry for non-rollover account is $2,500. In addition, commission and fees for several products is exceptionally high. For example, the cost for non-Fidelity mutual fund transactions is $75 and the cost for foreign currency wires is up to 3 percent.

Finally, if you plan to manage your accounts online, keep in mind that the company’s website slows down substantially under high volume traffic. This can cause problems when you are attempting to make trades or execute other actions promptly. Fidelity works well for people interested in long-term investment strategies. If you are open to investing in precious metals, you might find other companies a better choice. Don’t forget to check out some other reviews we have on the site.

Fidelity Commercial Video

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Fidelity Contacts

Phone Support: 800-343-3548