Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Fidelity Premium Services
Old 12-11-2012, 04:23 PM   #1
Recycles dryer sheets
 
Join Date: Dec 2006
Posts: 479
Fidelity Premium Services

I was contacted by a Fidelity rep that I assume was from the premium services group. I did not return the phone call.

Now I am considering hearing what they have to say. I believe there is a free consultation.

Has anybody used this service?

Thanks.
JohnDoe is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-11-2012, 04:38 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
You did the right thing. Block his calls!

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 12-11-2012, 05:30 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: W Wash
Posts: 1,643
Quote:
Originally Posted by JohnDoe View Post
I was contacted by a Fidelity rep that I assume was from the premium services group. I did not return the phone call.

Now I am considering hearing what they have to say. I believe there is a free consultation.

Has anybody used this service?

Thanks.
If you have invested assets with Fido of a Million or more, you are assigned a Private Client Rep. Mine calls one a year or more if I ask her. She is third one I have had and all have been acceptable. I use them to facilitate getting a problem fixed or to learned how to use better some of their great online analysis tools.
Nothing really to fear, and if you do not hit it off with the rep you get, you can ask for another.
Nwsteve
nwsteve is offline   Reply With Quote
Old 12-11-2012, 05:55 PM   #4
Full time employment: Posting here.
 
Join Date: Jul 2011
Posts: 723
I received a call without $1 million. It's their job to see how they can grow the relationship either by having you bring over more assets or selling more services.
panacea is offline   Reply With Quote
Old 12-11-2012, 06:15 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: W Wash
Posts: 1,643
Quote:
Originally Posted by panacea View Post
I received a call without $1 million. It's their job to see how they can grow the relationship either by having you bring over more assets or selling more services.
Equally possible answer if you do not have a Million with them. I was keying on OP's comment that he thought it was from the "Premium Group".
We get some great benefits from our Fido relationship without all the administrative rigidness of Vanguard where we also have a relationship.
Nwsteve
nwsteve is offline   Reply With Quote
Old 12-11-2012, 06:45 PM   #6
Full time employment: Posting here.
ShortInSeattle's Avatar
 
Join Date: Jan 2012
Posts: 518
Quote:
Originally Posted by JohnDoe
I was contacted by a Fidelity rep that I assume was from the premium services group. I did not return the phone call.

Now I am considering hearing what they have to say. I believe there is a free consultation.

Has anybody used this service?

Thanks.
Yup. We meet with our Fidelity advisor a couple times a year. Free service (we're less than a million), he's given us tips on how to use their analysis tools, and suggestions for funds that might eke out a bit better than money market rates for our emergency fund.

No hard sell, just a resource. I bet it varies though, per person.

SIS
ShortInSeattle is offline   Reply With Quote
Old 12-11-2012, 07:04 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Jul 2010
Location: Chicago
Posts: 1,008
Here's the criteria:

Fidelity Premium Services is generally available to investors whose eligible retail household relationship assets are at least $250,000 or for customers with annual household trading activity of 36 or more trades and a minimum of $100,000 in assets.
Dimsumkid is offline   Reply With Quote
Old 12-11-2012, 07:21 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,006
Quote:
Originally Posted by JohnDoe View Post
I was contacted by a Fidelity rep that I assume was from the premium services group. I did not return the phone call.

Now I am considering hearing what they have to say. I believe there is a free consultation.

Has anybody used this service?

Thanks.
This is probably just a courtesy call to let you know you have someone assigned to you. They do like to review your portfolio once a year, but I wouldn't call it a formal consultation, more like just checking in with you to see how it's going for you.
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 12-11-2012, 07:22 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,006
Quote:
Originally Posted by ShortInSeattle View Post
Yup. We meet with our Fidelity advisor a couple times a year. Free service (we're less than a million), he's given us tips on how to use their analysis tools, and suggestions for funds that might eke out a bit better than money market rates for our emergency fund.

No hard sell, just a resource. I bet it varies though, per person.

SIS
Exactly - perfect description.
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 12-11-2012, 09:31 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 6,681
I have my own Account Executive with Fidelity and have been using his/her assistance since 2008 when my ER plans were taking shape. My AE was helpful in showing me some of the ins and outs of the Fidelity website, helping me with the Retirement Income Planner software, and answering my questions about Fidelity issues. It is handy to have my own AE rather than calling the 1-800 phone number because some of my questions relate to my own portfolio and my AE already knows a lot about it and my situation in general so I don't have to explain it over and over to a phone rep. I finally met my current AE after several phone conversations in the last 2 years and have referred a friend of mine (mentioned in another thread) to him.

I got passed around to different AEs in 2008-2010 because of turnover at the local office but I did have one bad apple there who seemed to try to "poach" me from another AE and want to take over the management of my account for a fee. I found him pushy and asked his boss to be switched to someone else. I recently learned that he has since left Fidelity.

I basically agree with ShortInSeattle and Audreyh1.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 12-12-2012, 11:51 AM   #11
Thinks s/he gets paid by the post
 
Join Date: Jul 2005
Posts: 4,366
I keep my Fidelity rep in the loop just in case DW gets stuck trying to manage everything by herself. He knows I'm DIY, and has suggested a few (non Fidelity!) funds I might like. He dutifully asks if I would like to transfer my other assets to Fidelity, but it's just once and over. Not a burden, though probably still more than I would normally want.
Animorph is offline   Reply With Quote
Old 12-13-2012, 06:35 AM   #12
Recycles dryer sheets
 
Join Date: Apr 2006
Location: SW Ohio
Posts: 206
Quote:
Originally Posted by Animorph View Post
I keep my Fidelity rep in the loop just in case DW gets stuck trying to manage everything by herself. He knows I'm DIY, and has suggested a few (non Fidelity!) funds I might like. He dutifully asks if I would like to transfer my other assets to Fidelity, but it's just once and over. Not a burden, though probably still more than I would normally want.
I've been with them for over 20 years. I met with my rep for the first time in Feb. and found it worth while. I also did it primarily so DW would have some place to start if I was no longer around. And, as nwsteve said, it was a good review of all of their analysis tools! They are not on commission, so there was no pressure involved.
__________________
Retired 8/12/2011 at age 57
zaqxsw is offline   Reply With Quote
Old 12-13-2012, 10:59 AM   #13
Full time employment: Posting here.
 
Join Date: Nov 2008
Posts: 728
Fidelity is a sales organization with the goal to sell product. And, that's grest if you need it. If you need financial education, buy Money magazine or a couple of good basic financial books. A few years, ogo, Fidelity wanted to manage some cash I was going to put in muni bonds earning 200 basis points or 2 percent. Their fee? 1.5% or 150 basis points........not a good deal for me.

I have some money with Fidelity, have a little financial knowledge and have most of my money with Vanguard......for one reason and one reason only.......they are cheaper overall for my portfolio.

There really isn't a right or wrong way for anyone to tell you, in my opinion. But, get educated so when a salesperson calls you know what you want and should buy.
jerome len is offline   Reply With Quote
Old 12-13-2012, 11:26 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,983
I get the call every once in a while. After about a minute they say "It looks like your on course" and conclude the call.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Old 12-13-2012, 11:33 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 13,151
Quote:
Originally Posted by jerome len View Post
I have some money with Fidelity, have a little financial knowledge and have most of my money with Vanguard......for one reason and one reason only.......they are cheaper overall for my portfolio.

Yep, Vanguard is low cost no doubt about it. But you can control costs at Fidelity, Schwab, etc to come close to Vanguard costs. And, for some of us with spouses who would likely do better with a live person should they need to take some actions without you, Fidelity, Schwab and similar have advantages.

I don't think you can really go wrong with Vanguard, Fidelity or Schwab if you understand costs, if their brokerage accomodates your trading and research needs (a minor negative with Vanguard) and you are insensitive to occasional sales pitches (a minor negative with Fidelity and Schwab).
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is online now   Reply With Quote
Old 12-14-2012, 06:18 PM   #16
Recycles dryer sheets
 
Join Date: Dec 2006
Posts: 479
Thanks for the replies.

I am not really interested in paying for any kind of management or asset allocation. But I would be willing to listen to advise or tips on using the online tools and my overall retirement plan - or lack there of.

Based on the feedback here, I think I will cautiously pursue contact.

Thanks.
JohnDoe is offline   Reply With Quote
Old 12-14-2012, 06:55 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 14,328
Quote:
Originally Posted by jerome len View Post
If you need financial education, buy Money magazine .
travelover is offline   Reply With Quote
Old 12-15-2012, 07:57 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
Quote:
Originally Posted by JohnDoe View Post
Thanks for the replies.

I am not really interested in paying for any kind of management or asset allocation. But I would be willing to listen to advise or tips on using the online tools and my overall retirement plan - or lack there of.

Based on the feedback here, I think I will cautiously pursue contact.

Thanks.
Sounds like a plan. Just tell them that. I have never had a Fidelity rep try to pressure me into anything.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
Dawg52 is offline   Reply With Quote
Old 12-15-2012, 08:32 AM   #19
Recycles dryer sheets
 
Join Date: Mar 2012
Posts: 388
Quote:
Originally Posted by Dawg52 View Post
Sounds like a plan. Just tell them that. I have never had a Fidelity rep try to pressure me into anything.

+1. My Fidelity rep doesn't try to push anything on me. And as others have said, you can control costs right in-line with Vanguard costs. The Spartan Advantage index funds are right in-line with Vanguard expense ratios, albeit you do need to have a $100k invested in the fund.
tdv2 is offline   Reply With Quote
Old 12-15-2012, 08:45 AM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 10,252
^Fidelity changed to new initial minimums this week, so $100K is the old number.
LOL! is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Quick Links

 
All times are GMT -6. The time now is 08:07 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.