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Good Bye (Free) Fidelity Advisor
Old 02-19-2022, 05:41 PM   #21
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Good Bye (Free) Fidelity Advisor

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Originally Posted by scrabbler1 View Post

Jazz4cash, is there any way you can contact your Fido office manager and ask to be switched to another advisor? It worked for me. All I did was to call the local office's main # and ask the rep who the manager is.


I actually like the guy. He’s OK and not pushy. He was very helpful connecting me to their LTC expert to explain their products. Overall, the “don’t call me/ I’ll call you “ approach is what i prefer. Also, as another poster noted DW will need help if I’m not around.
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Old 02-19-2022, 05:52 PM   #22
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My Vanguard PAS advisor conducts a semi-annual tele con which is usually way more than I need. While he doesn't push any products, he usually runs down a list of friendly questions like "how are the grandkids, any fun vacations planned?" before discussing AA changes and status of my holdings. Having never been a big telephone talker, I find this kind of tedious but it only lasts about 30 minutes.
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Old 02-20-2022, 12:36 AM   #23
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I've had free advisors and for-pay advisors. I never took any of their advice so I won't ever have another advisor. It turns out, right or wrong, advisors keep their jobs and get paid whether I win or lose. YMMV
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Old 02-20-2022, 02:53 AM   #24
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I've had a couple Schwab people assigned to me over the years. They were all polite, competent and not really in the business of pushing products. They would occassionally bring up things that were on point but just not for me. Yet another reason I like Schwab.

Our company's 401K and equity compensation plans are managed by Fido. Due to my role in the company, I have access to the "executive compensation planning" support. The lady is quite pleasant and her financial acumen could keep up with most of the people on this board.

She can help me keep the retirement plan up to date and kicks out nifty Black-Scholes analyses of my stock options.

But then she morphs into a low-intensity salesperson. I once took her up on a conversation with an estate planning guy. Super competent but it was definitely "the first one is free". The hand came out for payment on anything that looked like follow-up questions.

So, I think upselling paid services is in the water at Fido.
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Old 02-20-2022, 08:56 AM   #25
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Good Bye (Free) Fidelity Advisor

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Originally Posted by cbo111 View Post
My Vanguard PAS advisor conducts a semi-annual tele con which is usually way more than I need. While he doesn't push any products, he usually runs down a list of friendly questions like "how are the grandkids, any fun vacations planned?" before discussing AA changes and status of my holdings. Having never been a big telephone talker, I find this kind of tedious but it only lasts about 30 minutes.

+1. Our twice-yearly, 30 minute Vanguard PAS calls with our assigned CFP are meant to update the plan with any changes to revenues and expenses that we experience or foresee, especially for the next 3 years. 3 years is a planning period when a client has the maximum sphere of influence levels, if you will. Beyond 3 years is a little hazy for most people, so we focus less on accommodating those, unless they are major. And their program is accurate for human nature, as I’m always surprised at how many adjustments we have to talk about. The idea is to input all the changes and then control what we can on our end to keep the software spitting out a success score that is at least 85%. It’s a good, hands-on way to navigate our finances through the turbulence of life.
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Old 02-20-2022, 09:34 AM   #26
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I got an email from a Vanguard guy wanting to let me know he would be calling. I dont have a paid advisor. In the past i have not been taking his calls but this time i did and I let him have it about VG service and by the time i was done he was glad to hang up.
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Old 02-20-2022, 04:42 PM   #27
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So, I think upselling paid services is in the water at Fido.

Exactly. Reminds me of when Megacorp required us to pester customers for info that was sure to annoy them.

I wonder what this relationship looks like if i cant or wont use all the great planning tools and investment resources on Fido’s website. I have all our details entered into the Guided Portfolio Service and Retirement Income Planner.
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Old 02-20-2022, 05:17 PM   #28
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Quote:
Originally Posted by Closet_Gamer View Post
... So, I think upselling paid services is in the water at Fido.
No surprise, really. When Schwab organized the circular firing squad that took everyone's trading fees to zero, it was obvious that the revenue would have to be replaced or costs would have to be cut. Advisor fees are an obvious source of revenue and cuts to customer support call centers are an obvious move too. One of Schwab's moves was to change the cash sweep from the money market fund to an account at Schwab Bank that pays nearly zero. Probably they (Schwab, VG, Fido) are cutting back on fully licensed and trained reps and backfilling with less expensive assistants, too. I certainly would be.

They are businesses and they have to make money. Even VG has to generate enough profits to allow investing in the business. As customers, we just have to keep an eye out for fees and other costs that we can avoid.
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Old 02-20-2022, 05:38 PM   #29
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Makes sense. Now that senseless profits have been squeezed from the 1%+ ER bad old days for anyone who isn’t not a Fast Eddie-type mark, one wonders when the pendulum might swing back to charging a few basis points in exchange for winning on service again.
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Old 02-21-2022, 08:39 AM   #30
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I get the occasional call from the Fido assistant (not even in the same city). I ignore it. I've had a couple of discussion with my assigned rep and he's pretty good. Doesn't try to sell anything. I moved everything to Fido a few years ago mainly so DW would have an office to go to once I've moved on. I've been very pleased with Fidelity, so far.
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Old 02-21-2022, 08:43 AM   #31
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My FIDO guy's assistant emails me to setup a meeting every 6 months. If I don't respond he'll call to try to schedule a call. I usually take the 45 minutes to talk with the FA as I usually have a question or two that I get a informed answer too. I've also initiated calls when I've had questions. The assistant has helped with technical issues via email, saving a call. There have been a few low key sales pitches for Fixed Income services that I may go for one of these days.
I'm happy with most of the advice I've gotten and very happy with the service he's provided.
To be honest these free FAs are really retention managers. Without his couple hours of time a year and the free TurboTax I might jump to Chuck when they run a open an account get some cash deal.
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