Wanting to leave Fidelity

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Greatness
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Wanting to leave Fidelity

Post by Greatness » Thu Apr 12, 2018 11:45 am

For the last 8+ years I've had my checking, roth and 401k (solo) with Fidelity. I am really no longer happy with their service. The support is horrible. You cannot instantly link accounts, etc. The only think good is the Visa card. If I transfer my retirement accounts to Vanguard, they will require me to sell all the assets I am told. What else can I do? Is there any company that offers cash management services such as Fidelity, just better service? I mean, just to add a savings account, they have to first call or text me to verify it is me, then they want a voided check (how online savings account), a deposit slip (again, online savings account) AND a copy of the statement. [(removed) --admin LadyGeek] Fidelity used to be a dream to use, but now it's horrible.

Open for advice and suggestions.

Always passive
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Re: Wanting to leave Fidelity

Post by Always passive » Thu Apr 12, 2018 11:51 am

Before you go through the effort of moving to another institution, make sure that you will get a better service. I have had my money at Fidelity for 25 years and I find their service exceptional.

Greatness
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Re: Wanting to leave Fidelity

Post by Greatness » Thu Apr 12, 2018 11:53 am

I think they are useless and horrible.

exoilman
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Re: Wanting to leave Fidelity

Post by exoilman » Thu Apr 12, 2018 11:56 am

Always passive wrote:
Thu Apr 12, 2018 11:51 am
Before you go through the effort of moving to another institution, make sure that you will get a better service. I have had my money at Fidelity for 25 years and I find their service exceptional.
+1

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DaftInvestor
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Re: Wanting to leave Fidelity

Post by DaftInvestor » Thu Apr 12, 2018 12:01 pm

There seem to be more complaints here about service at Vanguard than at Fidelity.
Before you switch be sure its what you really want.
Sounds like your complaint about poor service is that they've inconvenienced you as a result of strengthening their security procedures (?) - this is a trend in the industry to reduce fraud so you may find similar procedures everywhere.

sport
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Re: Wanting to leave Fidelity

Post by sport » Thu Apr 12, 2018 12:02 pm

I use a bank for banking and an investment company for investing. You may get better service by separating the two functions.

BogleMelon
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Re: Wanting to leave Fidelity

Post by BogleMelon » Thu Apr 12, 2018 12:09 pm

I have Schwab Checking account with no issues. Also tried their brokerage service and was a good experience.
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

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inittowinit
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Re: Wanting to leave Fidelity

Post by inittowinit » Thu Apr 12, 2018 12:11 pm

What specific aspects of the service are you hoping to improve?

Different companies have different strengths and weaknesses. Before blindly moving to Vanguard, it would be prudent to lay out the services you specifically value. You've implied some of them in your OP, but you may want to take a few minutes to really consider it and write out a comprehensive list of the most important things.

Knowing exactly what you're looking for will help people to give you relevant and actionable information.

Dottie57
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Re: Wanting to leave Fidelity

Post by Dottie57 » Thu Apr 12, 2018 12:17 pm

exoilman wrote:
Thu Apr 12, 2018 11:56 am
Always passive wrote:
Thu Apr 12, 2018 11:51 am
Before you go through the effort of moving to another institution, make sure that you will get a better service. I have had my money at Fidelity for 25 years and I find their service exceptional.
+1
+1

Dottie57
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Re: Wanting to leave Fidelity

Post by Dottie57 » Thu Apr 12, 2018 12:19 pm

DaftInvestor wrote:
Thu Apr 12, 2018 12:01 pm
There seem to be more complaints here about service at Vanguard than at Fidelity.
Before you switch be sure its what you really want.
Sounds like your complaint about poor service is that they've inconvenienced you as a result of strengthening their security procedures (?) - this is a trend in the industry to reduce fraud so you may find similar procedures everywhere.
+ 1

Be glad their security is improving.

tmsul100
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Re: Wanting to leave Fidelity

Post by tmsul100 » Thu Apr 12, 2018 12:25 pm

I've been with Fidelity 20+ years and never had a bad experience - in fact never had a less then stellar experience. Some of the approval processes are cumbersome (signed hard copies, etc.), but I assume some of that is regulatory stuff. The best work-around is if you have a local Fidelity office. I primarily use their web site or one of their wealth advisors. But if I need something expedited they handle it in the office with cheerfulness and efficiency. Just a thought. And Vanguard is getting killed on service (full disclosure, I've never had to interact with them).

TravelGeek
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Re: Wanting to leave Fidelity

Post by TravelGeek » Thu Apr 12, 2018 12:25 pm

Greatness wrote:
Thu Apr 12, 2018 11:45 am
I mean, just to add a savings account, they have to first call or text me to verify it is me, then they want a voided check (how online savings account), a deposit slip (again, online savings account) AND a copy of the statement. [(removed) --admin LadyGeek]
Is there perhaps a misunderstanding and they assumed you were trying to add a checking account?

And frankly, I so rarely link accounts (add checking account to a brokerage account) that this would hardly be a reason to switch brokerages and deal with all the hassle that comes with that. And them verifying that the owner of the account is actually trying to add an account sounds like a good thing for my protection.

Personally, I have had Vanguard and Fidelity accounts for 20+ years and haven't really had issues with either of them.

FGal
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Re: Wanting to leave Fidelity

Post by FGal » Thu Apr 12, 2018 12:40 pm

As someone really technically savvy once said: "It's not a bug; it's a feature."

I get that it's frustrating to deal with so many hoops to jump through, but I personally want there to be MANY MANY hoops to mess with my account, open a new one with my info or anything to do with my precious, precious money. But then I've had full-on ID theft, so I'm partial to good, strong security even it does mean no instant access or any mild inconvenience to me. Something to consider anyway.

I'd discuss your frustration with a Fido rep before packing up everything and moving. If there is anything they can do to make you happy, they'll do it because Fido does pride itself on customer service, and while I know Vanguard reps do a great job, they just don't seem as as strong most of the time from what I've read.

But if you are totally done with Fido, then I'd just initiate the transfer on Vanguard's end (fill out all transfer papers and hand off to Vanguard after they've walked you through everything). You would not have to sell everything unless you hold proprietary funds at Fido and they are not able to be transferred out. It is perfectly possible to hold regular Fido funds in Vanguard (and visa-versa) but be aware Vanguard may charge you a small management fee on top of the expense ratio since it isn't their native funds family. You want to have as much as possible transferred over "in kind" when doing so (speak with a rep to go over which funds may require a sell off before doing so and sell BEFORE transferring out just in case if you have free trade/sells in Fido and will not in Vanguard).

Honestly, switching over even one investment account seems like way more of a hassle than just waiting a day or two for an account to link up, or needing verification for a new account opening... and you will lose money in the process due to fees for closing accounts, transferring accounts, selling off funds, etc...

For what it is worth, I am with Fido and really love them. I totally respect Vanguard, but likely would never leave Fido specifically because they are so great in my own experience, and I am a 3 fund/lazy Boglehead style investor.

ETA: I forgot I do my actual banking (savings) with Ally and an actual brick and mortar bank (checking). Both are linked with one of my Fido accounts for moving stuff around and there was never any issues with any of these when opening/transfers. It did take about 3 days total if I'm remembering, but that was not a problem at all for me. And Ally does transfers in 1 business day (most of my Fido transfers are down to 1 business day as well).
Last edited by FGal on Thu Apr 12, 2018 12:53 pm, edited 2 times in total.

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Youngblood
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Re: Wanting to leave Fidelity

Post by Youngblood » Thu Apr 12, 2018 12:43 pm

I have linked outside checking accounts with Fidelity and though I doubt they were done instantly they were definitely linked quickly. Both were done online.

Whenever I have needed direct phone support, the support received was always impressive both in efficiency and results.

So, my advice would be to call them and express your frustration calmly.

Good luck.

YB
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Jack FFR1846
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Re: Wanting to leave Fidelity

Post by Jack FFR1846 » Thu Apr 12, 2018 12:48 pm

Does ANYONE instantly link accounts?

I've got online accounts with 3 online banks and a credit union with excellent online services. None will instantly link a bank account.

Of the broker accounts I have with Fidelity, Schwab, Vanguard and TDAmeritrade, I believe TDA did an instant link to do an initial funding in order to buy securities the first time.
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Hockey10
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Re: Wanting to leave Fidelity

Post by Hockey10 » Thu Apr 12, 2018 1:01 pm

I have had very good experiences at Fidelity over many years with multiple brokerage and 529 accounts. If their standards of service continue at this level, I will be a customer for life.

livesoft
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Re: Wanting to leave Fidelity

Post by livesoft » Thu Apr 12, 2018 1:04 pm

I think you have to decide where you want your 401(k) if you don't want to use Fidelity. Your new vendor will be the sticking point unless you leave your i401(k) at Fidelity. My i401(k) is at TDAmeritrade.
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Greatness
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Re: Wanting to leave Fidelity

Post by Greatness » Thu Apr 12, 2018 1:06 pm

Seems Vanguard wants me to sell all my 401k holdings prior to switching. Which, I do not want to do. I do not understand why they make things so hard to do. The ironic part is that all the holdings in the 401k are Vanguard ETFs.

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FrugalProfessor
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Re: Wanting to leave Fidelity

Post by FrugalProfessor » Thu Apr 12, 2018 1:07 pm

sport wrote:
Thu Apr 12, 2018 12:02 pm
I use a bank for banking and an investment company for investing. You may get better service by separating the two functions.
+1. I've never understood the appeal of banking at an investment company.
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msi
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Re: Wanting to leave Fidelity

Post by msi » Thu Apr 12, 2018 1:14 pm

Asking for a deposit slip in 2018 with the rise of online banking is a bit much, particularly if people also have to provide a voided check.

Retireby40
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Re: Wanting to leave Fidelity

Post by Retireby40 » Thu Apr 12, 2018 1:30 pm

I don't understand the need to sell the Fidelity 401K to move to Vanguard? You should be able to do either a rollover or transfer in kind to your retirement account if those Fidelity funds are publicly available. Also, if it is a previous employer plan be careful of fees as they often jack them up with minimal notice if you change jobs to a different company. So you may want to rollover or consolidate anyway.

In terms of service, all the big guys have their pros/cons. I suggest you pick the one with the features you need and lowest cost. Then consolidate your investments if you can get to a higher customer class which may get you better service. Lastly, work to build a relationship with them and escalate issues one level higher than you think you need to if you are not getting resolution.

rralex1
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Re: Wanting to leave Fidelity

Post by rralex1 » Thu Apr 12, 2018 5:51 pm

You will receive many opinions. This is only one. Our experience with Fidelity particularly as trustee to our parents estate, was horrendous. We believe that it had to do with their risk of transfer of assets out of Fidelity to other low cost institutions, as well as clear actions that our parents took to disperse assets out of Fidelity before they passed that Fidelity challenged. Many stand by Fidelity and there could be many reasons. As personal experience, ours is not so.

seawolf21
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Re: Wanting to leave Fidelity

Post by seawolf21 » Thu Apr 12, 2018 6:05 pm

I have accounts at Fido, Schwab, and Vanguard. If you think Fido service sucks, you haven't experienced Vanguard. IME, Vanguard has longer hold times to speak with someone than Fido or Schwab.

My spouse 401(k) at Fido. My 401(k) at Vanguard. Just last week I ask to do a mega backdoor roth from Vanguard 401(k) to Vanguard TIRA and Vanguard Roth IRA for post-tax associated earnings and post-tax contribution amounts respectively. Vanguard required paperwork to be mailed back. Did that bit then they decided to ignore both verbal and paper instructions and rolled both post-tax contribution and earnings into the Roth IRA. Previous mega backdoor Roth rollovers would involve the rollover "disappearing" from 401(k) and Roth IRA for weeks at a time.

Fido mega backdoor Roth is no paperwork involved, shows up in correct Fido TIRA and Roth IRAs the next trading day.

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Earl Lemongrab
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Re: Wanting to leave Fidelity

Post by Earl Lemongrab » Thu Apr 12, 2018 7:16 pm

Most of the times I've needed to link checking accounts, they used the micro-deposit method. That will take a few days. Ally did it where you have to give them your login information. It's fast, but you really have think about how much you trust them.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

dcabler
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Re: Wanting to leave Fidelity

Post by dcabler » Thu Apr 12, 2018 7:22 pm

exoilman wrote:
Thu Apr 12, 2018 11:56 am
Always passive wrote:
Thu Apr 12, 2018 11:51 am
Before you go through the effort of moving to another institution, make sure that you will get a better service. I have had my money at Fidelity for 25 years and I find their service exceptional.
+1
Another +1

carguyny
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Re: Wanting to leave Fidelity

Post by carguyny » Thu Apr 12, 2018 7:26 pm

Jack FFR1846 wrote:
Thu Apr 12, 2018 12:48 pm
Does ANYONE instantly link accounts?

I've got online accounts with 3 online banks and a credit union with excellent online services. None will instantly link a bank account.

Of the broker accounts I have with Fidelity, Schwab, Vanguard and TDAmeritrade, I believe TDA did an instant link to do an initial funding in order to buy securities the first time.
Fidelity instantly links accounts to most banks I've tried (Chase, Marcus by GS Bank and a few others), even Alliant Credit Union. The only one it didn't work for me was Everbank, so I simply did the 2 trial deposit verification in less than 24 hours. Not really sure what problem the OP is having, but perhaps there is some misunderstanding.

radiowave
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Re: Wanting to leave Fidelity

Post by radiowave » Thu Apr 12, 2018 7:26 pm

Greatness wrote:
Thu Apr 12, 2018 1:06 pm
Seems Vanguard wants me to sell all my 401k holdings prior to switching. Which, I do not want to do. I do not understand why they make things so hard to do. The ironic part is that all the holdings in the 401k are Vanguard ETFs.
Something is not right, you can move vanguard, or any other ETFs for that matter, directly to Vanguard??
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Iliketoridemybike
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Re: Wanting to leave Fidelity

Post by Iliketoridemybike » Thu Apr 12, 2018 7:31 pm

DaftInvestor wrote:
Thu Apr 12, 2018 12:01 pm
There seem to be more complaints here about service at Vanguard than at Fidelity.
Before you switch be sure its what you really want.
Sounds like your complaint about poor service is that they've inconvenienced you as a result of strengthening their security procedures (?) - this is a trend in the industry to reduce fraud so you may find similar procedures everywhere.
+1

cherijoh
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Re: Wanting to leave Fidelity

Post by cherijoh » Thu Apr 12, 2018 7:37 pm

Earl Lemongrab wrote:
Thu Apr 12, 2018 7:16 pm
Most of the times I've needed to link checking accounts, they used the micro-deposit method. That will take a few days. Ally did it where you have to give them your login information. It's fast, but you really have think about how much you trust them.
VG used the micro transfer technique to link my credit union checking account to my VG account. The other thing you need to consider is that account linkage is a "one and done" activity. I'm happy to trade off a little inconvenience for improved security especially if the inconvenience disappears after the first transaction!

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slayed
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Re: Wanting to leave Fidelity

Post by slayed » Thu Apr 12, 2018 7:43 pm

if you are not happy at Fidelity you probably won't be happy anywhere.

bayview
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Re: Wanting to leave Fidelity

Post by bayview » Thu Apr 12, 2018 7:46 pm

Greatness wrote:
Thu Apr 12, 2018 11:45 am
...I mean, just to add a savings account, they have to first call or text me to verify it is me, then they want a voided check (how online savings account), a deposit slip (again, online savings account) AND a copy of the statement. [(removed) --admin LadyGeek] Fidelity used to be a dream to use, but now it's horrible.

Open for advice and suggestions.
Are you objecting to having decent security for the one-time set-up for your account? :shock:

FWIW, I’ve seen a lot worse. (Worse meaning hoops to jump through.)
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

big bang
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Re: Wanting to leave Fidelity

Post by big bang » Thu Apr 12, 2018 7:48 pm

Dottie57 wrote:
Thu Apr 12, 2018 12:17 pm
exoilman wrote:
Thu Apr 12, 2018 11:56 am
Always passive wrote:
Thu Apr 12, 2018 11:51 am
Before you go through the effort of moving to another institution, make sure that you will get a better service. I have had my money at Fidelity for 25 years and I find their service exceptional.
+1
+1
+1
(1) save a lot, (2) select an asset allocation containing both stock and bond asset classes, (3) buy low cost, widely diversified funds, (4) allocate funds tax-efficiently, and (5) stay the course.

Miguelito
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Re: Wanting to leave Fidelity

Post by Miguelito » Thu Apr 12, 2018 8:02 pm

slayed wrote:
Thu Apr 12, 2018 7:43 pm
if you are not happy at Fidelity you probably won't be happy anywhere.
Agreed. Not many companies get my thumbs up for customer service. Fidelity is one of the few.

carguyny
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Re: Wanting to leave Fidelity

Post by carguyny » Thu Apr 12, 2018 10:51 pm

Just occurred to me what I did when I needed to add Everbank - all the other 6 bank accounts instantly linked, was just crate the transfer link inside Everbank.

Near the top of your account you will see a button "Routing Number". If you click it it gives you the routing number and full account number (16+ numbers) you can use to setup a ACH/Wire link in your online savings. Just do it from the internet banking and you can ignore any fidelity requirements.

MrPotatoHead
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Re: Wanting to leave Fidelity

Post by MrPotatoHead » Thu Apr 12, 2018 11:27 pm

I have not had a issue with Fidelity since 1983. I believe they have stellar customer service and products. That bias being stated I also am a Schwab fan and they have a very nice banking system (but they do not have a 2% credit card).

On the other hand i believe Vanguard to be a 4th tier firm when it comes to customer service.

If I had to rate them for customer service, I would give Schwab the nod over Fido, but both are a couple of teirs above Vanguard in my estimation in regard to customer service.

And as I oft say, I believe the issues with Vanguard are ones of corporate culture so any improvement is likely to be transient. They simply are not customer service oriented.

Good luck finding anew home for your assets. If you do find a place with service far above Fido's please let me know and I may join you there.

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Earl Lemongrab
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Re: Wanting to leave Fidelity

Post by Earl Lemongrab » Thu Apr 12, 2018 11:45 pm

bayview wrote:
Thu Apr 12, 2018 7:46 pm
Are you objecting to having decent security for the one-time set-up for your account? :shock:

FWIW, I’ve seen a lot worse. (Worse meaning hoops to jump through.)
Yeah, I had one that wanted me to mail in a voided check or deposit slip.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

noraz123
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Re: Wanting to leave Fidelity

Post by noraz123 » Fri Apr 13, 2018 12:00 am

I'd stick with Fidelity, or if you move, go with Schwab. I have accounts at all three. Other than low cost funds, Vanguard doesn't outshine the others. I have found customer service to be much better at both Fidelity and Charles Schwab.

Cruise
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Re: Wanting to leave Fidelity

Post by Cruise » Fri Apr 13, 2018 2:04 am

i have my accounts with Fido. Excellent customer service, whether I call my relationship manager, or call the standard Premium number and talk to a random CS agent.

I've never gotten off a phone call with a Fido employee wondering how did this person get hired and why hasn't he/she been fired. Come to think of it, that is a rarity in my evaluation of CS agents.

RickBoglehead
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Re: Wanting to leave Fidelity

Post by RickBoglehead » Fri Apr 13, 2018 5:20 am

I just left Fidelity and consolidated at Vanguard. With Vanguard's higher tiers I get good service and when I have an issue they resolve it.

I left Fidelity because they screwed up 403b deposits, coding them improperly. Started trying to fix them in November. NetBenefits division was useless, and didn,'t care about my other business at Fidelity. Ended up going through Abigail Johnson's office and service still sucked. Told them to resolve by a date or I would leave, they did not. Since we had to resolve it, I found them the right contact at the employer's service company and got it fixed (5 months after we started), then emptied my accounts. As the 403b fills, we will empty it every 6 months and transfer balance to Vanguard.

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Re: Wanting to leave Fidelity

Post by oldcomputerguy » Fri Apr 13, 2018 5:39 am

Jack FFR1846 wrote:
Thu Apr 12, 2018 12:48 pm
Does ANYONE instantly link accounts?
Certainly not something I'd want to happen. If someone succeeded in linking their bank account to my IRA, I'd want a chance to intercede and kill it.
:annoyed
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JohnDindex
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Re: Wanting to leave Fidelity

Post by JohnDindex » Fri Apr 13, 2018 5:45 am

Just moved to fidelity from vanguard...have been really impressed with Fidelity. Every time I have had a phone call with a rep, they have been far and away more friendly and knowledgeable than anything I have experienced in vanguard. They have 500 free trades which are useful if you want to purchase vanguard ETF's. They also have most of the ishares anyone would need commission free. Even if you are paying a commission it is $4.95 and I expect it will to continue to decline over time, commissions just aren't an issue at most places anymore.

Through my research I noticed the Fidelity Mutual Index funds throw off capital gains, so probably best to stick with ETF's in taxable there.

I also spoke with Schwab, but felt fidelity was more suited for us. I have realized through this process that Vanguard is an excellent Asset Manager, but there are better brokerage firms out there.

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munemaker
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Re: Wanting to leave Fidelity

Post by munemaker » Fri Apr 13, 2018 6:48 am

carguyny wrote:
Thu Apr 12, 2018 7:26 pm

Fidelity instantly links accounts to most banks I've tried (Chase, Marcus by GS Bank and a few others), even Alliant Credit Union.
That's really convenient. I use Capital One 360 and linking accounts is such a hassle. They play little game where you report the amount of 2 small deposits you make, and it takes days. It would be so much more convenient to link instantly.

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munemaker
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Re: Wanting to leave Fidelity

Post by munemaker » Fri Apr 13, 2018 6:55 am

JohnDindex wrote:
Fri Apr 13, 2018 5:45 am
Just moved to fidelity from vanguard...have been really impressed with Fidelity. Every time I have had a phone call with a rep, they have been far and away more friendly and knowledgeable than anything I have experienced in vanguard.
Most of our assets are at Vanguard. For decades things went along fine. Then I did some things out of the norm...deposited certificates, added authorized users, consolidated accounts from other places...and I felt like Vanguard was trying to make this harder instead of easier. For example, I sent in a notarized form and forgot to check a box. They call me and I said...just check it for me. No, they can't do that. So, send it back to me, I will check it and return it. No, they can't do that - too risky. I said...it was not too risky when I mailed it to you, so what's the difference? So I had to fill out a new form and get it notarized again.

So when I retired, I moved my 401k to Fidelity. They do seem to try to make things easier for you rather than put up roadblocks. I have contemplated moving all our assets to Fidelity but here's the reason why I don't. Vanguard is the champion of low fees. Fidelity is a reluctant follower. Who do you want to reward with your business?

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fandango
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Re: Wanting to leave Fidelity

Post by fandango » Fri Apr 13, 2018 7:14 am

I moved almost all of our investments from Fidelity to Vanguard.

The main reason was unsolicited calls from my Fidelity "Account Executive" urging me to take advantage of some flaky investment opportunity.
Every call sounded like his hair was on fire and that the world was ending today.

Not my way of investing.

JohnDindex
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Re: Wanting to leave Fidelity

Post by JohnDindex » Fri Apr 13, 2018 9:47 am

munemaker wrote:
Fri Apr 13, 2018 6:55 am
JohnDindex wrote:
Fri Apr 13, 2018 5:45 am
Just moved to fidelity from vanguard...have been really impressed with Fidelity. Every time I have had a phone call with a rep, they have been far and away more friendly and knowledgeable than anything I have experienced in vanguard.
Most of our assets are at Vanguard. For decades things went along fine. Then I did some things out of the norm...deposited certificates, added authorized users, consolidated accounts from other places...and I felt like Vanguard was trying to make this harder instead of easier. For example, I sent in a notarized form and forgot to check a box. They call me and I said...just check it for me. No, they can't do that. So, send it back to me, I will check it and return it. No, they can't do that - too risky. I said...it was not too risky when I mailed it to you, so what's the difference? So I had to fill out a new form and get it notarized again.

So when I retired, I moved my 401k to Fidelity. They do seem to try to make things easier for you rather than put up roadblocks. I have contemplated moving all our assets to Fidelity but here's the reason why I don't. Vanguard is the champion of low fees. Fidelity is a reluctant follower. Who do you want to reward with your business?


Fidelity has lower fees in the comparable products I will be using, and much better customer service imo. Fees are honestly so low everywhere it is a matter of preference. We have accounts at Wells Fargo too (self directed) and it is $2.95 per trade, pretty fair to purchase an ETF imo.

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tuningfork
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Re: Wanting to leave Fidelity

Post by tuningfork » Fri Apr 13, 2018 10:24 am

By the time OP reads all the responses to this thread, Fidelity would have finished linking OP's bank account. :sharebeer
fandango wrote:
Fri Apr 13, 2018 7:14 am
I moved almost all of our investments from Fidelity to Vanguard.

The main reason was unsolicited calls from my Fidelity "Account Executive" urging me to take advantage of some flaky investment opportunity.
Every call sounded like his hair was on fire and that the world was ending today.

Not my way of investing.
That seems to be specific to the account executive assigned to you, or in my experience, the account executive's assistant. My first year at Fidelity, the quarterly call from the assistant to request a meeting was easily ignored. The second year, same executive but a new assistant called. The messages left were urgent and implied I needed to take immediate action. I still ignored them but started thinking about moving my account. Another year, that executive left the company, I was assigned a new executive (and new assistant), and all has been good since.

gobigorgohome
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Location: The Heartland

Re: Wanting to leave Fidelity

Post by gobigorgohome » Fri Apr 13, 2018 12:28 pm

I do most of my banking and investments with Fidelity and couldn't be happier with the service provided. Just my two cents.

WhiteMaxima
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Re: Wanting to leave Fidelity

Post by WhiteMaxima » Fri Apr 13, 2018 1:40 pm

Fidelity and Schwab have their local office here. They will provide some sort of in person services. Vanguard is a barebone internet firm. I would keep them and divide your asset amount among them to get best of them.

anil686
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Re: Wanting to leave Fidelity

Post by anil686 » Fri Apr 13, 2018 2:03 pm

sport wrote:
Thu Apr 12, 2018 12:02 pm
I use a bank for banking and an investment company for investing. You may get better service by separating the two functions.
+2...

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DaftInvestor
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Re: Wanting to leave Fidelity

Post by DaftInvestor » Fri Apr 13, 2018 2:44 pm

fandango wrote:
Fri Apr 13, 2018 7:14 am
I moved almost all of our investments from Fidelity to Vanguard.

The main reason was unsolicited calls from my Fidelity "Account Executive" urging me to take advantage of some flaky investment opportunity.
Every call sounded like his hair was on fire and that the world was ending today.

Not my way of investing.
This would have been an easy problem to fix (and one that I did fix).
My Fidelity executive reached out to me once with something - I told him never to call me again and that I would reach out to him if I ever needed anything. I told him to make sure my records indicated I didn't want to be contacted. That was years ago - No one from Fidelity ever called me again.

(I have accounts at Fidelity, Vanguard, and Schwab - they all have their pluses/minuses)

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