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Fidelity Social Security tool
Old 10-21-2015, 02:51 PM   #1
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Fidelity Social Security tool

I attended a "What to know before taking Social Security" seminar with Fidelity. I'm not sure if this was a private client account invitation but I assume it was since it included an open bar and a three course meal at a country club. I used to decline these invitations before but not anymore.

A representative from social security along with a Fidelity adviser conducted the seminar. Most of the information presented was common knowledge to most folks on this board but it was revealed that Fidelity has a new SS maximizer tool available for their clients. Unfortunately this tool is not available online but only as an in person complementary consultation. So if you have an account with Fido and want to explore different claiming strategies you can setup a meeting with your rep or discuss at your next annual meeting.
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Old 10-21-2015, 04:17 PM   #2
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Very cool. They used to have a series of lunch seminars at several local investment centers that included a box lunch. Very little of value for the level of knowledge on this board. They were not well attended and I only see web seminars on their schedule of events lately. I guess they used the money they saved to court the country club crowd. I see several other investment organizations using SS seminars as hook to attract clients.
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Old 10-21-2015, 04:50 PM   #3
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I encountered the free Financial Engines Social Security tool on Vanguard (as a logged in customer) and it came up with the same general scenario that our iterations with ESPlanner did. That was to have my wife start taking SS on the day I am eligible for spousal benefits, and have me switch to my own benefits at age 70.

Vanguard did not offer me a lunch for logging on, and they did assume that I would remain married through this period. I don't care about missing the lunch but I do want to stay married. Hope my DW feels the same.
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Old 10-21-2015, 05:08 PM   #4
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Very cool. They used to have a series of lunch seminars at several local investment centers that included a box lunch. Very little of value for the level of knowledge on this board. They were not well attended and I only see web seminars on their schedule of events lately. I guess they used the money they saved to court the country club crowd. I see several other investment organizations using SS seminars as hook to attract clients.
I guess they figured the only way to attract clients is by offering a good meal and free drinks. It worked for me.......
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Old 10-21-2015, 05:18 PM   #5
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our local office was awarded the fidelity annual best voted investor center award " they threw a bash with the money for their private access clients .

it was all top drawer and noooooo seminars or sales pitches , just steaks and wine .
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Old 10-22-2015, 09:17 AM   #6
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I'm a Fidelity customer, private client. Sat down with my personal rep a few years ago, and the outcome was pretty much that I was OK and know what I'm doing, things are on course. Ironically, my wife and I have both worked a fair amount of our careers in both SS covered and non covered positions, earning a decent SS benefit as well as a pension in a non SS covered position. We are both hit by WEP and GPO, which makes the calculations a little tougher when it comes to planning for the "what happens if one of us gets his by a bus".

While going over the RIP at the time, I pointed out that was a weakness. The Fidelity rep was only aware of WEP, not GPO (I think that was it, I might have it backwards). I was the one explaining to him how it worked. :face palm:

He has since relocated and I have a new rep as of a couple of months ago. He's called to invite me to come in and go over things. I've been happy with the setup, no sales pitches. I haven't been invited to any bashes, though! Just an "income strategy" seminar which didn't fit my schedule. The timing is right for a face to face, but hopefully no sales pitches! I'll be interested to see the new tool.
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Old 10-22-2015, 09:36 AM   #7
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I'm a Fidelity customer, private client. Sat down with my personal rep a few years ago, and the outcome was pretty much that I was OK and know what I'm doing, things are on course. Ironically, my wife and I have both worked a fair amount of our careers in both SS covered and non covered positions, earning a decent SS benefit as well as a pension in a non SS covered position. We are both hit by WEP and GPO, which makes the calculations a little tougher when it comes to planning for the "what happens if one of us gets his by a bus".

While going over the RIP at the time, I pointed out that was a weakness. The Fidelity rep was only aware of WEP, not GPO (I think that was it, I might have it backwards). I was the one explaining to him how it worked. :face palm:

He has since relocated and I have a new rep as of a couple of months ago. He's called to invite me to come in and go over things. I've been happy with the setup, no sales pitches. I haven't been invited to any bashes, though! Just an "income strategy" seminar which didn't fit my schedule. The timing is right for a face to face, but hopefully no sales pitches! I'll be interested to see the new tool.
At the seminar I attended they were lots of questions and discussions regarding WEP and it seems that the Fidelity presenter was knowledgeable about its affect on SS benefits but I'm not sure about GPO. I am familiar with "maximize my social security" software sold by ESplanner's Larry Kotlikoff and the software takes WEP and GPO into consideration in its calculation so I assume the Fidelity software will do the same for you.
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Old 10-22-2015, 10:32 PM   #8
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so while we are on the subject of SS, does anyone have a decent source of information concerning claiming options if one's spouse is currently collecting SSD? I have perused the internet looking for spousal claiming options under those circumstances and have come up with nothing.


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Old 10-22-2015, 11:23 PM   #9
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so while we are on the subject of SS, does anyone have a decent source of information concerning claiming options if one's spouse is currently collecting SSD? I have perused the internet looking for spousal claiming options under those circumstances and have come up with nothing.
If you cannot find anything easily, then you should just phone SS with your questions. They are not paid to decline your requests (unlike some insurance companies) so you should get pretty accurate answers.
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