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Someone Calm me Down , Fidelity
Old 10-05-2022, 03:58 PM   #1
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Someone Calm me Down , Fidelity

Is anyone else out there had it with Fidelity . I have had Fidelity for 30 years . I meet with my advisor twice a year and another guy calls me 4 times a year. The guy that calls me 4 times a year always asks . Do you have any plans to take money out of your managed account . ? The other guy just says well you look good everything is on track. I feel like they can do more as right now I am down a lot . What do y’all think .
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Old 10-05-2022, 04:00 PM   #2
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Is anyone else out there had it with Fidelity . I have had Fidelity for 30 years . I meet with my advisor twice a year and another guy calls me 4 times a year. The guy that calls me 4 times a year always asks . Do you have any plans to take money out of your managed account . ? The other guy just says well you look good everything is on track. I feel like they can do more as right now I am down a lot . What do y’all think .
Maybe if they sent you a fruit basket? That would be better than those annoying calls.

One of my friends is with Ameriprise (I know) and he gets a dozen Titleist Pro V1's each year
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Old 10-05-2022, 04:08 PM   #3
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I'm just happy to see it's not another bash Vanguard thread........... I have an account at Fidelity also, but am not in a managed account.
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Old 10-05-2022, 04:10 PM   #4
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Today I ask the 4 times a year guy , tell me something positive …..Wellllllll unemployment is only 4% and Companies are profitable again …Then he asks me what do you think your average return has been for 30 years ……3.1%. What happened to that 4% , then he got into the weeds and blew my mind .
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Old 10-05-2022, 04:16 PM   #5
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My Fidelity rep calls whenever he needs something.
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Old 10-05-2022, 04:24 PM   #6
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I moved DW's holdings to Fido from UBS because they were a PITA to deal with. I moved my taxable account and managed IRA from Morgan Stanley to Fido because they wanted to charge me $175 to have my taxable account and my IRA was "too small" for them to bother with.
I do not have an advisor and like it that way.
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Old 10-05-2022, 04:25 PM   #7
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I feel like they can do more as right now I am down a lot . What do y’all think .
The alternative is they tell you to sell and buy other things - which would be a bad idea. If they said sit tight and wait, well, they said the same as a lot of smart folks here.
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Old 10-05-2022, 04:31 PM   #8
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I told my Fidelity advisor not to bother me. So he stopped bothering me. Coincidentally we were on the same flight to Los Angeles this past Sunday. We met him at the gate before boarding. I sat in Air Canada's Signature Business/First Class in a nice lie-flat seat and he sat in coach. He commented that we were one of his few assigned clients that didn't want to throw him off the balcony. I told him that I want an extra large gift basket this Christmas.

Fidelity advisors are sales people and by no means financial experts. It amazes me how little these advisors know about financial accounting and economics.
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Old 10-05-2022, 04:39 PM   #9
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Every time Schwab reshuffles their agents, I get a new one and he/she calls me. They ask if they can do anything for me as I have been an account holder for 38 years now. I say, yes, don't call me anymore and if I need something I will call them. Perfect.
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Old 10-05-2022, 04:42 PM   #10
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Every time Schwab reshuffles their agents, I get a new one and he/she calls me. They ask if they can do anything for me as I have been an account holder for 38 years now. I say, yes, don't call me anymore and if I need something I will call them. Perfect.
I did that with VG. They must have marked my file somehow because I get no calls and no emails (except ones that are legally required).
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Old 10-05-2022, 04:42 PM   #11
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The alternative is they tell you to sell and buy other things - which would be a bad idea. If they said sit tight and wait, well, they said the same as a lot of smart folks here.
indeed. Managed accounts are often churned all the way down generating losses and tax liability.
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Old 10-05-2022, 04:43 PM   #12
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My only contact with my Fidelity rep is when I initiate it and that is how I want it being a DIY investor.
Being in their Private Client group, I get free advice from them whenever I wish.
It works for me being with Fidelity.
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Old 10-05-2022, 04:45 PM   #13
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Aja , is bad bad bad ….LOL …..I guess my expectations are exceeding their abilities beyond selling .
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Old 10-05-2022, 04:47 PM   #14
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Aja , is bad bad bad ….LOL …..I guess my expectations are exceeding their abilities beyond selling .
Your guess is correct!
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Old 10-05-2022, 04:50 PM   #15
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I feel like they can do more as right now I am down a lot . What do y’all think .
IMO, if either of these guys knew for certain what to do in today's environment, they probably would not be working for FIDO. They would be sailing their 235 foot yatchs to various exotic ports-of-call, and planning the big 2022 Christmas bash at their 12 bedroom estate on the Mediterranean.

I don't mean to sound like a wise-guy, but nobody really knows what to do. However, if your investments are getting seriously out of whack with your stated goals, they should be able to offer you some suggestions. No guarantees, of course.
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Old 10-05-2022, 04:52 PM   #16
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I am in some kind of 60/40 and I don’t want to see it churned down . When I asked him about the 4% withdrawal he totally confused me explaining that never was true.
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Old 10-05-2022, 04:57 PM   #17
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I am eligible for a rep based on account size, but I always refuse the offer. I love Fidelity for their bond tools and how they leave me alone.
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Old 10-05-2022, 05:04 PM   #18
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Is anyone else out there had it with Fidelity . I have had Fidelity for 30 years . I meet with my advisor twice a year and another guy calls me 4 times a year. The guy that calls me 4 times a year always asks . Do you have any plans to take money out of your managed account . ? The other guy just says well you look good everything is on track. I feel like they can do more as right now I am down a lot . What do y’all think .
Have you articulated to them what it is that you would like to get from them? It may be hard for them to know. Every client is different. For example, my Fido rep and have have a clear understanding that he doesn't need to call me regularly. If I have a question, I will know how to reach him/her. But if you prefer a lit of hand holding then that approach will not work for you. Just tell them what you want and very likely you'll get more satisfactory interactions.
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Old 10-05-2022, 05:04 PM   #19
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We use Fidelity and are satisfied with the 1-2 times a year and as needed check in via phone. Mostly how to navigate the site to purchase CD’s, bonds, 2 short term annuities. Always get the obligatory pitch for managed account but no pressure as we are DIY’ers.
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Old 10-05-2022, 05:09 PM   #20
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Every time Schwab reshuffles their agents, I get a new one and he/she calls me. They ask if they can do anything for me as I have been an account holder for 38 years now. I say, yes, don't call me anymore and if I need something I will call them. Perfect.
Been there, done that. That's exactingly what I tell them, and it works.... I think I have you by about 4 years. Been with them ~42 years now...
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