Fidelity Fees

[augam]

Just a question regarding fees for individual investor.

I have an account with Fidelity and have made a few trades this year. Where do you actually see the trading fees broke out for each trade.

Thanks

 

[audreyh1]

Most fees for trading stocks are now $0 at Fidelity. You will see a small SEC fee in your trade confirmation and your account history.

 

[braumeister]

And the SEC fee is only on sales, not purchases.

 

[audreyh1]

And the SEC fee is only on sales, not purchases.

Right.

 

[FIRE'd@51]

They are shown clearly on the Trade Confirmation.

 

[augam]

Just a question regarding fees for individual investor.

I have an account with Fidelity and have made a few trades this year. Where do you actually see the trading fees broke out for each trade.

Thanks

Most fees for trading stocks are now $0 at Fidelity. You will see a small SEC fee in your trade confirmation and your account history.

And the SEC fee is only on sales, not purchases.

Right.

They are shown clearly on the Trade Confirmation.

Saw a $75 fee for a Vanguard purchase. Not surprised by that.

Thanks to all.

 

[audreyh1]

Yes, there is a $75 fee to purchase Vanguard funds through Fidelity. None on the sale.

 

[COcheesehead]

If there is a fee, it will be on the buy order.

 

[BarbWire]

Yes, there is a $75 fee to purchase Vanguard funds through Fidelity. None on the sale.

If I transfer say, VTI, from a brokerage account at VG to a brokerage account at Fido, is there a fee? I'm thinking about moving some of my VG ETFs to Fido or Schwab.

 

[nwsteve]

When I moved my Vanguard relationship to Fido, it all came across in kind, no fees. There were no fees to sell them either. I did have to convert my Admiral positions back to Investor status because Vanguard does not allow Admiral shares outside of their platform--they consider Admiral to be proprietary.
Because of cap gains, I have been selling them off piecemeal but even before Fido eliminated fees, there was no charge on the sale.

 

[audreyh1]

If I transfer say, VTI, from a brokerage account at VG to a brokerage account at Fido, is there a fee? I'm thinking about moving some of my VG ETFs to Fido or Schwab.

First of all, ETFs are treated differently from the Vanguard mutual funds.

Yes, I would expect you to have no problem transferring ETFs in kind as they are publicly traded securities.

And, I do not expect there to be any trading fees on ETFs as Fidelity has dropped their stock trading commission. I don't expect there to be any fee to transfer either.

Verified - VTI is $0 commission at Fidelity. It's pretty much treated as a stock.

 

[BarbWire]

First of all, ETFs are treated differently from the Vanguard mutual funds.

Yes, I would expect you to have no problem transferring ETFs in kind as they are publicly traded securities.

And, I do not expect there to be any trading fees on ETFs as Fidelity has dropped their stock trading commission. I don't expect there to be any fee to transfer either.

Verified - VTI is $0 commission at Fidelity. It's pretty much treated as a stock.

Thanks for checking that. When I rebalance next month, I may at that time take some of my eggs out of the VG basket and move them to Fidelity.

Being able to move ETFs was one of my reasons for converting my VG mutual funds to the equivalent ETF if possible in 2016 (VG made a huge mess of the switch so if anyone else does it, keep a very close eye on their cost basis calculations. Their errors took me weeks to untangle.)

 

[nwsteve]

Thanks for checking that. When I rebalance next month, I may at that time take some of my eggs out of the VG basket and move them to Fidelity.

Being able to move ETFs was one of my reasons for converting my VG mutual funds to the equivalent ETF if possible in 2016 (VG made a huge mess of the switch so if anyone else does it, keep a very close eye on their cost basis calculations. Their errors took me weeks to untangle.)

Unfortunately, the root of most complaints regarding VG has been their weak attention to their administrative responses and worst, usually doing poorly at getting their errors corrected. Low cost models often yields low quality in my experience.

 

[BarbWire]

Unfortunately, the root of most complaints regarding VG has been their weak attention to their administrative responses and worst, usually doing poorly at getting their errors corrected. Low cost models often yields low quality in my experience.

To paraphrase the nursery rhyme: "When they are good, they are very very good. And when they are bad they are horrid."

 

[audreyh1]

Thanks for checking that. When I rebalance next month, I may at that time take some of my eggs out of the VG basket and move them to Fidelity.

Being able to move ETFs was one of my reasons for converting my VG mutual funds to the equivalent ETF if possible in 2016 (VG made a huge mess of the switch so if anyone else does it, keep a very close eye on their cost basis calculations. Their errors took me weeks to untangle.)

When you transfer ETFs to Fidelity you are going to have to be very careful of what basis they get from Vanguard.

P.S. I just looked at the commission on testing a purchase of 100 shares of VTI and it was $0.

 

[BarbWire]

When you transfer ETFs to Fidelity you are going to have to be very careful of what basis they get from Vanguard.

P.S. I just looked at the commission on testing a purchase of 100 shares of VTI and it was $0.

Shouldn't they get the same cost basis that Vanguard is showing? Is the issue that cost basis changes when transferred () or that the accounting/bookkeeping is sloppy?

 

[audreyh1]

Shouldn't they get the same cost basis that Vanguard is showing? Is the issue that cost basis changes when transferred () or that the accounting/bookkeeping is sloppy?

They should (answer to the first questions). But difficulties getting correct basis can sometimes occur when assets are transferred from one financial institution to another. Since you already had some difficulty at Vanguard about the cost basis, I recommend you make sure it comes through OK at Fidelity.

Transfers do not affect cost basis.

 

[BarbWire]

Right. That's what I thought. It's a good thing that Vanguard has trained me to make spreadsheets and take screenshots of everything prior to doing a transaction with them!

Next task: wade through the VG website to see if I can find a way to download a "cost basis" report for my holdings to have on hand as ammunition.