WSJ (not com, yet): Fidelity Has A Vanguard Problem

[mathjak107]

as a private access client at fidelity i can say we get fabulous service.

everything is followed through from soup to nuts and even got invites to no sales pitch customer appreciation dinners.

we had a cd we transfered to fidelity and the bank didn't follow instructions and did it before the maturity day.

our rep called the bank and pointed it out and then monitored our account to follow up on the credit for the penalty.

they even made a 2nd call when they didn't see it two days later.

i think they do a really great job taking care of the bigger customers.

[H2ODude]

Quote:

Originally Posted by mathjak107 as a private access client at fidelity i can say we get fabulous service. everything is followed through from soup to nuts and even got invites to no sales pitch customer appreciation dinners. we had a cd we transfered to fidelity and the bank didn't follow instructions and did it before the maturity day. our rep called the bank and pointed it out and then monitored our account to follow up on the credit for the penalty. they even made a 2nd call when they didn't see it two days later. i think they do a really great job taking care of the bigger customers.

Ditto. If shaving a tenth of a percentage point off an index fund is the price, I'll pay it. I'm sort of a set it and forget it investor (while I don't trade I do watch) and the treatment we've gotten at F has been exactly what we want. Phone service beats anything I've ever had financial services or otherwise. Can't say it's better than V since I've been at F since early 90's.

[Cobra9777]

I'm a passionate DIY type investor and retirement planner. Fidelity's online capabilities are ideal for my style of getting things done. All our financial assets are housed there except DW's 457b, since she's still working. We don't own any Fidelity mutual funds, just ultra-low-ER index ETFs, mainly iShares and Vanguard.

The brokerage is top-notch, but we don't trade very often and have no need for the more advanced trading tools. We really like the online research and analytical tools such as GPS, RIP, and many others. Recently I've used the ETF screener and tax loss harvesting tool, both of which were easy and convenient. We also have a Fidelity CMA that functions like a traditional bank account... checking, debit, bill-pay, free ATM, mobile check deposit, cash-back credit cards, FDIC insurance, and no fees of any kind.

Aside from occasional "just-checking-in" email with the rep from private client group, the only interaction I have with Fidelity is if I call them because I can't find something on the website. This occurs maybe once per year, and most of the 2-minute phone call is Q&A to validate my identity. Not once has anyone tried to sell me anything. I also like the real, hardware-based 2-factor authentication. I do listen-in to many of the webinars if it's a topic I find interesting.

The article linked in the OP was about Fidelity's latest earnings report and their place in the strategic landscape. I find that interesting, but not particularly relevant to whether they are a good fit for me as a consumer. I know exactly what investments and AA I want to hold, and don't want or need any help with that, beyond what I can extract from this forum and BH. Where I house my assets depends entirely on cost and how effectively the service and online capabilities support my DIY style. As near as I can tell, I've never paid Fidelity anything except the rare $7.95 commission when I trade a Vanguard ETF. And I'm extremely happy with the state-of-the-art capabilities at my fingertips.

[bUU]

Quote:

Originally Posted by eta2020 Customers vote with their feet.

Customers vote more often with their wallets and their emotional responses to media. I wouldn't put much stock in the actions of customers as a reliable barometer of actual quality. After all, look at Wal-Mart.

[MRG]

Quote:

Originally Posted by LOL! ...snip... If one wanted to find out the index mutual funds that Fidelity has, one simply cannot get right to them. They are hidden away. For instance, what is the ticker symbol of the Fidelity Freedom Index 2030 fund? Sure, I can get the ticker if I type in the full name, but what if I just search "index funds" at fidelity.com? No Freedom Index funds are mentioned on the landing page for that. ...snip... .

Home-> Investment Products->Mutual Fund Reseach->Asset Allocation use the drop down for target date funds. I did tick Fidelity funds only.

I used your example of Fidelity Freedom Index 2030. There's probably 3 other ways to get to the same list. FYI I don't think this is an index fund, but an asset allocation fund, that's why it's not under index funds.

What could be simpler?