Opening Fidelity account virtually ?

[Katoslake]

Has anyone had experience opening a new account virtually, entirely online ?

Family member wants to move money to Fidelity, but in person appointments are hard to get. Additionally, family member doesn’t move well and also doesn’t have patience to sit in a reps office for an hour plus.

[sleddy]

I thought that was the only way. I already had a 401k there but moved stocks over from E*Trade completely online. It was very easy.

[GenXguy]

I did recently for The Fidelity Account (brokerage) and took advantage of the $150 bonus. It seemed pretty straight forward and uneventful.

https://www.fidelity.com/go/special-offer

[jazz4cash]

Quote:

Originally Posted by sleddy I thought that was the only way. I already had a 401k there but moved stocks over from E*Trade completely online. It was very easy.

Same here. Fido in many ways is a tech company but also seem committed to B and M

[COcheesehead]

All digital, all the time.

[disneysteve]

I haven’t gone in person to open a new financial account anywhere for at least 20 years, probably longer. Everything everywhere has been done 100% online.

[savory]

I had the same good experiences as others. Just a suggestion, as you are supporting your family member, coaching on 2fa would be helpful to them. Fidelity offers it. Symantec VIP is one Fido offers.

[big-papa]

Quote:

Originally Posted by Katoslake Has anyone had experience opening a new account virtually, entirely online ? Family member wants to move money to Fidelity, but in person appointments are hard to get. Additionally, family member doesn’t move well and also doesn’t have patience to sit in a reps office for an hour plus.

Yes - my daughter did this back in December. It wasn't 100% painless however.
- First she received a note that they couldn't verify her identity and needed some additional info. Docs scanned and uploaded. Took a few days and this was fixed.
- Then we couldn't link her bank account by using the routing number/account number method. Chased that down to her bank account having only her middle initial for her middle name whereas Fido had her full name. Fortunately there was an alternative way to set that up and it worked.

cheers.

[Andre1969]

I've actually never gone, face to face, with an employee of a company to open an investment account. Even way back in 1991, when I first started investing with 20th Century (American Century these days), I did it over the phone.

As for Fidelity, I have two rollover IRAs, and inherited IRA, and that account that gives you the $150 bonus. The two IRAs just transferred automatically to Fidelity at some point, years after I quit working with those respective employers. As for the inherited, I tried to go with Janus first, but they didn't know how to do an inherited IRA, so I did it through Fidelity. And then when I got the second one, I just used Fidelity as well. For the inherited IRAs, I talked to someone over the phone, but never had to do a face to face.

As for opening up an account as a totally new customer, versus an existing customer just adding a new account, I don't think it should be too hard. I did it for my uncle a few weeks ago. It was with American Century, rather than Fidelity, but I'm sure they're all similar.

[MRG]

I've never done anything else. The website walks you through the process.

I am told enough to remember when you filled out a form and mailed it to the fund company, who took your form and reentered it into the system of record.

[ModestNestEgg]

Just to add to everyone's reassurance about the ease of using the website to set up the account (which I agree with), if for some reason you have questions about it, I've found the customer service at Fidelity to be very good.

Out of the three (I believe) calls that I've had to make to them for various questions, I've found their staff to have a very helpful disposition and actually be able to solve the problem or question that I had. I've never had to be on hold for too long (i.e. it won't be like one of those support calls that puts you on hold for an hour). You probably won't need to call them to set up the account because it is a fairly user-friendly process, but if you have questions, they should be able to help you.

[Morgan22]

DH and myself opened HSA's, Roth, tIRA and taxable accounts all online with no in person or on phone assistance. We were then able to also transfer assets online, again, with no assistance.

We have been assigned an advisor since opening those accounts. I chatted briefly with the advisor when he reached out, but we do not use his services. But he said we can call anytime if we have an questions.

[jollystomper]

Quote:

Originally Posted by GenXguy I did recently for The Fidelity Account (brokerage) and took advantage of the $150 bonus. It seemed pretty straight forward and uneventful. https://www.fidelity.com/go/special-offer

+1, did the same, no issues.

[pb4uski]

Not for Fidelity but I opened a joint brokerage account at Schwab earlier this month all virtual.

[Dash man]

I’ve never been in a Fidelity or Schwab office where we keep all of our investments. All done online. Same with USAA, though that was originally opened by telephone forty years ago.

[badatmath]

I tried to help a relative with this but he had no cell phone so I didn't see a way past that on the app.

[qwerty3656]

Quote:

Originally Posted by COcheesehead All digital, all the time.

+1

[RetiredAndLovingIt]

Fidelity is very easy to open online, I had no problem whatsoever. What I really like is when I have them pull funds in from my external account, the money is available for me to buy Treasuries within a few hours even on the weekend.

[Morgan22]

Quote:

Originally Posted by badatmath I tried to help a relative with this but he had no cell phone so I didn't see a way past that on the app.

I do everything on my laptop via fidelity.com. The only time I used the app was to do a mobile deposit for a couple of rollovers to retirement accounts. But you don't need to use the app. You can mail in checks for deposit if needed.

[PatrickA5]

Quote:

Originally Posted by pb4uski Not for Fidelity but I opened a joint brokerage account at Schwab earlier this month all virtual.

How do you like Schwab so far?