I’ve decided it’s time to change from my expensive full-service brokerage firm and switch to a discount broker, to handle my account.

I met with a nice gentleman at Fidelity Investments this morning, their fees are MUCH less than my full-service broker. I understand that they do not offer the personal buy or sell advice my full-service broker offers. Yet, I’ve finally reached the point, with my investments, that I don’t plan on making any major changes in my holdings, this is not a hot point for me.

So, do any of you use Fidelity Investments, if so are you pleased with their service? If you don’t use Fidelity Investments, who do you recommend?

Thanks all,

Thanks to all who posted and sent P.M.'s. I've decided to make a change and will make my final decision as to new brokerage firm, next week. May not be a fun call with my current broker, but I need to do what is best for me.

Finally settled on Fidelity, Thanks again all..

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Always Stay Strong!

I have used E-Trade for a very long time, never saw any reason to change. I have all my trading accounts there, and also several bank accounts. If I need to discuss anything, I can always call anytime day or night. During business hours, I have an assigned broker to talk to, I have never had to wait to talk with him. There are many other discount brokerages I know nothing about, so I can't draw any comparisons.

Fred, I've been with Fidelity for about 12 years when IBM offered my wife a free comprehensive financial overview before she retired.
I used to fancy myself as a "trader" before then, hit some home runs and struck out looking with the bags full all too often.
All our retirement funds are with Fidelity and we're totally out of individual stocks, we have a mix of stock and bond mutual funds. Our money is on autopilot as we let them "tax manage" our portfolio. Since then I've slept quite well, unlike before with all the market gyrations.

We don't look for the home runs anymore, we hardly look at our account at all. I'm more about preserving what we have at this point. Our money is growing nicely as well without the headaches.
In addition, as part of our fee's we get tax and estate planning, and all types of referrals for anything financially related.
We do a review every 6 months with our advisor to see if we want anything changed, and just to stay in touch. Of course we can call everyday if we wanted to.
Now I know people are going to say they can do their own without paying any fee's, but mine are very low, and again, I sleep very well at night. ymmv

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Sure you did

Fidelity & Vanguard are both good operations.

Fidelity vs Vanguard 2017

Have been with TD Ameritrade for a number of years.
Also not a trader, no longer own any individual stocks.
Only Mutuals, ETFs, and bonds.
Lately have bought mostly muni bonds.
If you need cash, you can borrow from your account at margin rate interest and get a no charge electronic transfer.

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NRA LIFE MEMBER

They all suck if you ask me. I've had money with Merrill Lynch, Shearson Leaman, Schwab, and whole bunch of others and none of them make me much interest on my money. I think I made less than 1 percent interest on my Charles Schwab account last year and my American Fidelity barely did better. People will tell you to just leave it in and the stock market and it will go up and down but average out to 10% per year over time, but that has never been the case for me over the last 25 years.

I have used Fidelity for over ten years. Never had a problem with them. My work 401K is now with Vanguard having moved from Fidelity. They are okay, too. I like Fidelity better, but it may just be that I am more accustomed to their website and way of doing business.

I still have two other accounts with Fidelity. A brokerage account and my son's college 529. I have no plans to move either.

I've had a 401K with Fidelity since '84...

To borrow a quote from Ron Popeil "Just set it and forget it." All I had to do was choose the amount of risk I was willing to take and Fidelity did the rest.My account has weathered the stock market meltdowns quite well although we all wish they never happened in the first place.The fees are very reasonable if not outright cheap.

As I neared retirement age my account automatically got more conservative to protect as much monies as possible but still have positive growth.Of course,I could have chosen to put it all on the table if I wanted to do so.

I can't say exactly what is in my portfolio but it's a mixture of bonds,stocks,overseas investments and probably some other things I'm not familiar with.Fidelity changes the percentage that each asset holds on a quarterly basis to follow the trends in the marketplace to try and give me the most bang for my buck.

I think that Vanguard and Fidelity are somewhat in bed together because some of my assets are under the Vanguard name.

I guess because I'm in "Higher Education" (in quotes, because I sometimes doubt the accuracy of that title), it is convenient for me to have everything in TIAA-CREF, which is an acronym for something.., can't remember right now. They are probably the biggest outfit for teachers in the country, but I think you have to be in education to join. Very low costs, don't charge fees until you start drawing money, whether interest, annuities or whatever.

I rolled some holdings over into TIAA when I first started teaching full time. Like some others, I have money in a mix of stock based mutual funds, Bond based funds, and real estate based funds. Overall, it does very well, and I just ignore it. Saw this evening that I've already made something like 4.85% in the first quarter of this year, and seem to be on track for some what better in this quarter that ends June 30. I have roughly 33% still in my equities account. If the Dow does well, I do well. Partly invested in fixed, guaranteed funds.

Best Regards, Les

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SWCA 3084, SWHF 495, PGCA 3064

My investment money is with Vanguard and in Index funds.

Here are a couple of links to Warren Buffet's recommendations.
With his BILLIONS I feel comfortable with his words.


Warren Buffett’s 15-Minute Retirement Plan
Warren Buffett’s 15-Minute Retirement Plan -- The Motley Fool


Warren Buffett Just Revealed the Best Investment Most People Can Make
Warren Buffett Just Revealed the Best Investment Most People Can Make -- The Motley Fool

Bekeart

You young guys have time on your side.
You got to put it in and leave it in!
Wishy washy flip flopping is a path to disaster!
Like Mr. Buffett says, it's hard to beat a S&P 500 ETF.
Buy one with a low yearly maintenance fee.
Lower than .1% a year.

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NRA LIFE MEMBER

We've used Fidelity for a very long time and we're very happy with them. I presume there are less expensive options out there, but I like the myriad of tools they have and the customer service is always great. They've also added a couple of (IMHO) great increased security options which make me feel much better.

If it matters - I'm not a trader. I'm a big believer in ultra-low-cost mutual funds and ETFs....get the allocation right based on your age (which means reviewing it periodically to make sure it hasn't grown out of whack) and not worry about it.

OR

I use TD and Schwab as the account holders. Good access to stocks, bonds, and mutual funds. Easy access from internet and monthly hard copies. Can bring up reports showing daily change and G/L since purchase. Good tax filing info at year end. I handle 7 accounts for self and family. Either one can help find qualified managers that work thru their company. They provide good basic research information on stocks and mutual funds. I also use one account for checking. Has worked for me for 28 years.

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TOMBECK

I've been with TD Ameritrade since the early 90s when they were TD Waterhouse. No complaints. Self directed ira's and a portfolio of 25 to 30 individual stocks. Market has been very good to me but I do my homework. For those that are timid or lack confidence, read up on dogs of the dow theory. It works.

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God spelled backwards is dog.

I been with Vanguard for 20 some years. All in index funs.
Have averaged 6% for last 10 years. Have 60% in bonds and
40% in stocks. Sleep well. There is a reason Vanguard
is number one by a bunch.

I also like Scottrade. Their website is very useful for trading or research and monitoring.

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Mike, AmVets Member, Navy Vet

Fred,

when you decide to make the switch.......your new investment firm can handle the transfer for you without you having to pick up the telephone receiver and call your current broker.............

however, if you wish to deliver the bad news in person...remember they work for you...your the boss...they are the employee......

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There's nowt so queer as folk

I was an educator in various schools and each had their own companies they offered for 403(b) investments. I liked Fidelity many years ago and also Vanguard. When I retired a few years ago I consolidated all of them to TD Ameritrade. They were OK but I felt they lacked a few services. I looked around and it was a toss up between Fidelity and Schwab. Scwab gets high marks in the yearly comparisons for discount brokers. I haven't been with them a long time, just a few months but they have been very good about contacting me, offering me free services and providing options. They have a system where you answer some questions and it comes up an appropriate mix for your risk and puts it all on automatic pilot for no fees.

I have a friend who does quite well in rental properties and is now 70. He literally hates mutual funds and swears he always has lost money on them. I think he didn't let the money ride because over the years I have done quite well for a poor teacher. The 10% average used to be what the stock market averaged over a specific time and it is fairly accurate. I saw a chart one time that showed what happens if you miss even a handful of significant days during a year - it can make all the difference.

I was pretty aggressive when I was younger and once the past administration came in and I hit 60 I began to pull back. I can sleep at night at least, that is worth something.

I went Fidelity Investments in 1994 and cashed out when I retired in 2000......nothing but good things to say about them. Of course that was in the 1990's when all things went UP UP UP......reason I am retired!!

Do not, I repeat, do not seek financial advice on the internet. Period.

Jessie, would appreciate your reasoning. There is Morningstar and several good newsletters that are available (at a price).

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TOMBECK

DITTO!! All I see in these posts are a lot of generalizations.Not one person has said "You gotta do this or that or you're doomed to lose everything."

There are many reliable and free investment sources on the internet, also some not so good. Seeking Alpha is probably the largest and most popular, some really excellent analyses can be found there. Most of the discount houses provide enormous quantities of investor information resources, one reason I like E-Trade. You do not have to be an E-Trade customer to use it. I do extensive trading, and E-Trade and Seeking Alpha are my most used sources of information.

There's nothing wrong with seeking opinion on the Net or anywhere else. A guy can get some great investment ideas from others. But before acting ya need to do your due diligence. The richest investment professional in the fanciest building can take you for a ride to bankruptcy. Or a 20-something kid can give you a lead to great returns. Unless you know how to do your homework you're just wandering lost in Vegas.

Many choices . Do your homework & see who has the services that are important to you . Lower fees & commisions also vary quite a bit . One of my 401K's is with Fidelity & have another with Vanguard . My brother uses Fidelity & is quite pleased with them . I also have an IRA with Scottrade in which I actively trade stocks & ETF's . They have many mutual funds with no transaction fees . However if you want a fund not on that list it costs $ 17.00 to buy / sell . Stock / ETF orders are $ 6.95 if done online . If you have one of their brokers handle it fees are much higher . They have plenty of research material online . Needless to say I do my own research & don't buy mutual funds from them . I prefer to trade online in stocks & ETF's as it allows more flexibility during changing markets . Stop loss & limit orders available at no extra costs , plus they have a local office 10 mins away .