Fidelity Investments is one of the largest and oldest financial services companies. With over $11 trillion in total client assets under administration, it offers investment and wealth management solutions for both individual investors and institutions. This Fidelity Investments review will provide an in-depth look at their key features, pros and cons, and who they are best suited for investment.
What is Fidelity Investments?
Founded in 1946 in Boston, Massachusetts, Fidelity Investments is a privately owned company that provides financial services including brokerage, retirement products, wealth management, life insurance, and more. Some key facts about Fidelity Investments:
- Offers $11 trillion in total client assets under administration and custody as of 2022. This makes them one of the largest financial services providers globally.
- Serves over 40 million individuals, 17,000+ institutions, and 13,500 financial intermediary firms.
- Employs around 52,000 people worldwide.
- Offers brokerage and trading services through Fidelity Brokerage Services LLC.
- Manages one of the largest mutual fund families through Investments.
- Provides workplace retirement plans through Fidelity Workplace Investing.
- Has a nationwide presence with around 200 local offices across the US.
Overall, Fidelity is a diversified, global financial services company catering to both retail and institutional investors. Their large size and scale allow them to offer a comprehensive range of investment and wealth management products and services.
Overview – Fidelity Trading Platform
| Fidelity – Key Details | |
|---|---|
| Year Founded | 1946 |
| Headquarters | Boston, MA |
| CEO | Abigail Johnson |
| Total Clients | 35+ million |
| Total Assets | $9.9 trillion |
| Account Minimum | $0 for self-directed trading |
| Tradeable Assets | Stocks, ETFs, options, mutual funds, bonds, CDs |
| Trading Platforms | Fidelity.com, Active Trader Pro, mobile apps |
| Commissions | $0 stock, ETF, options trades |
| Account Types | Individual, joint, IRA, trusts, 529 plans |
| Banking | Fidelity Cash Management Account |
| Research & Tools | Bond resources, screeners, risk management tools |
| Customer Service | 24/7 phone support, branches, chat, email |
Fidelity Investments Review
Here is an overview of the key strengths and drawbacks of using Fidelity Investments:
What are the Pros of Fidelity Invest?
- Industry-leading research and tools: Fidelity offers best-in-class research capabilities from 20+ research professionals. This includes market analysis, investment strategy, screeners, risk analysis tools, and more.
- Commission-free trading: Fidelity offers unlimited $0 online stock, ETF, and options trades. This makes them highly competitive on costs versus other large brokers.
- Account minimums waived: Opening a Fidelity brokerage account has no minimum deposit requirement. This makes them accessible to new investors.
- Robust mobile apps: Fidelity has easy-to-use mobile apps for iOS and Android to manage your investments online conveniently.
- Excellent customer service: Fidelity provides customer service 24/7 via phone, email, chat, social media, and local branches. Support is typically fast and effective.
- Leading retirement services: Workplace retirement plans, IRAs, annuities – Fidelity excels in catering to retirement and long-term investors’ needs.
Cons of Investment
- Advanced trading platforms lack customization: While Fidelity offers excellent trading platforms like Active Trader Pro, they lag behind rivals in customization options for active traders.
- High fees for advisory services: Fidelity’s fee-based advisory services can be relatively expensive with fees up to 1.5% annually. Robo-advisors often charge less.
- Large account sizes for flagships services: Fidelity’s Private Wealth Management requires high minimums of $10 million. Their Personalized Planning & Advice fee-based service requires a $50,000 minimum.
Overall, Fidelity stands out for its combination of low-cost trading, powerful research, excellent customer service, and strength in retirement services. The area they lag in is costs for advisory services and advanced trading platforms tailored for active traders.
How to Login Fidelity Account Login?
To log into your Fidelity investment account online by following these simple steps,
- Go to the official login page at www.fidelity.com
- Enter your username which is typically your Fidelity account number or user ID you created.
- Enter your password. (If you forgot your password, reset your password by clicking the link ‘Forgot username or password?‘ and then confirm some basic information about your account.
- You may need to enter a security code sent to your email for two-factor authentication.
- Review any disclosures or notifications.
- You will then access your Fidelity account dashboard where you can view your portfolio, balances, positions, order status and history, and much more.
The Fidelity login allows quick access to your investments on both desktop and mobile. Enabling two-factor authentication is recommended for optimal account security. Contact Fidelity customer service if you have any login issues.
Fidelity Trading Platform Fees
Fidelity offers $0 commissions for online US stock, ETF, and options trades. This means you pay no trading fees for stocks and ETFs. Options contracts are also $0 for online orders. Here are some key details on Fidelity trading platform fees:
- $0 stock trades apply to US equities and ETFs listed on U.S. exchanges.
- No per-contract fees for online options trades. Exercise and assignment fees still apply.
- Buying mutual funds incurs no transaction fees but may have expense ratios.
- Broker-assisted trades incur a $32.95 fee per trade.
- Trading foreign stocks may have Country Specific Fees based on the market.
- Options exercises and assignments cost $0 online or $19.95 broker-assisted.
- Trading bonds and CDs have a markup or markdown fee rather than commissions.
Overall, Fidelity delivers extremely competitive trading costs for active traders thanks to $0 online stock and ETF trades. Mutual funds can be traded commission-free as well, making diverse investing affordable.
Withdraw Money from Brokerage account
Withdrawing cash from your Fidelity brokerage account is straightforward:
- Log into your account and go to the “Accounts & Trade” menu.
- Select “Withdraw Money” from the dropdown menu.
- Choose the account you wish to withdraw from if you have multiple accounts.
- Select the delivery method – check, bank wire transfer, or electronic funds transfer to your bank.
- Enter the amount to withdraw and submit the request.
- Checks can take up to 10 days, while bank wires and direct transfers take 1-3 days typically.
Withdrawals can be made by calling Fidelity customer service or setting up systematic withdrawals for recurring payouts. Note any fees, taxes, and potential impacts of withdrawing before requesting the disbursement. Maintain any minimum balances if required.
How to Add Money from Fidelity Brokerage Account
Adding money to your Fidelity brokerage or retirement account can be done in several convenient ways:
- Electronic funds transfer: Login online and schedule a transfer from your bank account. It takes 2-4 days to process. No fees.
- Wire transfer: Initiate a same-day wire from your bank—a $ 25 fee per wire transfer.
- Check: Mail a check with your account number to Fidelity Investments. Takes up to 7 days to fully process.
- Rollover: Roll over funds from a 401k or IRA into an account. There are no fees typically.
- Mobile check deposit: Use the Fidelity app to scan and deposit a check into eligible accounts.
- Direct deposit: Set up payroll direct deposit if offered by your employer into your account.
No minimum deposit is required to open or add funds to a Fidelity brokerage account. Be sure to have your account information handy to properly direct additional funds into the appropriate investment accounts you hold.
Brokerage Fees
While Fidelity offers $0 stock and ETF trades, there are some other common Fidelity brokerage fees to be aware of including:
- $0 – Minimum balance to open an account. No annual or maintenance fees.
- $4.95 – Mutual fund transaction fee if not a no-load, no-fee fund.
- $0 – Transactions for Fidelity index mutual funds and Fidelity ETFs.
- $32.95 – Broker-assisted trade fee for stocks/ETFs. $0 online.
- $19.95 – Broker-assisted options per contract fee. $0 online.
- $0-$15 – Bond and CD trade fees depending on the term.
- $4.95-$49.95 – transaction fee for over-the-counter stocks and foreign ordinary shares.
So while stock, ETF, and options trades are commission-free at Fidelity, paying attention to mutual fund transaction fees, broker-assisted fees, and any specialized investment fees is important. Overall fees are low for the retail investing industry.
How to Buy Stock on a Brokerage Account?
Buying stocks with Fidelity online is easy and commission-free:
- Log into your account and select “Accounts & Trade”
- Choose “Trade” then select “Stocks”
- Enter the stock ticker symbol and number of shares you want to buy.
- Review the order to ensure accuracy. Choose a limit order or market order.
- Submit the buy order and the stock purchase will be executed at the next market price.
- You can view your new position in the account once the order is filled.
Fidelity Phone Number / Customer Support
International trading representative – 800-544-2976
Monday — Friday, 5 a.m. to 7 p.m. ET
For more Customer Service go here – https://www.fidelity.com/customer-service/phone-numbers/overview