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Tranaction fees, Fidelity - Automatic Account Builder discount.
Old 10-16-2006, 07:48 PM   #1
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Tranaction fees, Fidelity - Automatic Account Builder discount.

I was unaware of the Automatic Account Builder feature. I thought the $75 was waved only for re-invested dividends. Humm, it wouldn't take a high IQ to add to a holding at the discount rate.

Note just received from Fidelity Customer Service:

The _ABCD_ funds available for purchase at Fidelity are available with a transaction fee. There is a charge of $75 to place a buy order online. In your example, you can sell shares of _ABCD_ and use the proceeds to purchase shares in [another fund in same Fund Family] (exchange). You would incur a transaction fee of $75 placing this order online. There is no fee assessed on sell orders, so you would not incur a charge by placing a sell order for some of your shares in the _ABCD_ fund.

The transaction fee of $75 is assessed for each additional buy order you place online. We offer a feature called FAAB, for Fidelity Automatic Account Builder, which allows you to purchase additional shares in a fund automatically on the schedule, frequency, and amounts you choose. Once you establish the initial position in a fund, you can set up FAAB on your account to purchase additional shares in Dodge& Cox or other transaction-fee funds and the charge drops to $5 for these additional purchases.

Here are the steps to follow if you are interested adding FAAB to your account. From www.fidelity.com

1. Click "Accounts& Trade" and then "Update Accounts/Features" in the underlying bar.
2. Click "Automatic Investments" under the "Account Features" column.
3. Locate the account you wish to add automatic investments to and click the "Add Automatic Investments" link to the right of it.
4. Complete the schedule information for your purchases then click the "Next" button.
5. Verify the information and click the "I Agree" button to sign the electronic application, acknowledge and agree to the "Automatic Investments Agreement" and submit the form

If you have any other questions, please send us another message any time. We appreciate your business.

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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.
Old 10-17-2006, 03:00 AM   #2
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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.

im not familiar with account builder but there are 3 types of funds you can buy, fidelity's own which are no fee, funds from other fund families designated as ntf which are no fee, and then theres a group where you pay 75.00
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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.
Old 10-17-2006, 09:33 AM   #3
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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.

Quote:
Originally Posted by mathjak107
im not familiar with account builder but there are 3 types of funds you can buy, fidelity's own which are no fee, funds from other fund families designated as ntf which are no fee, and then theres a group where you pay 75.00
And a fourth type that has a sales charge assessed as a percentage of the purchase amount. American funds has this type of charge on their funds. I think it is 5.25% or so.
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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.
Old 10-17-2006, 11:18 AM   #4
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Re: Tranaction fees, Fidelity - Automatic Account Builder discount.

Fido also has a group of load funds called Fidelity Advisor, with loads up to 4.5% up front.

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