Fidelity as a main product line?

[hegemony]

Please help me with my pondering.

 

Currently I have my traditional Roth and my 403b with Fidelity. I have the option to move my 401a/414h (which is my primary retirement vehicle) from TIAA-CREF to Fiedlity. My ROTH is currently with Vanguard. My spouse's traditional IRA is with Fidelity. Her ROTH is with another company. We also have some Fidelity mutual funds, post tax, and some with Vanguard., post tax

 

I like Fidelity the best of all the companies we have investments with. I am considering moving my 401a, our ROTHs, and closing out the Vanguard post tax funds thereby having all retirement accounts except my 457 and my spouse's 401k with Fidelity and the majority of our post tax mutual funds with Fidelity as well.

 

The only downside I can think of is if something were to happen to Fidelity; but this seems to be an extremely low probability event.

 

comments?

Edited January 8, 2008 by hegemony

[Jen23514]

I love my investments at fidelity, their customer service is top notch, their website is easy to navigate, and their products seem sound.

 

I would think it would simplify your life to have it in one place.... i say go for it.

[54regcab]

I seriously doubt something drastic is going to happen to one of "the big 3".

[Izmunuti]

Hard to imagine Fidelity (or the other big guys) failing but crazy stuff can happen (Enron, Arthur Anderson,...) Brokerage accounts are supposed to have some protection through SPIC, up to $500K, depending on what happens. If things are bad enough for Fidelity to fail, though, brokerage accounts may be the least of our worries

 

I currently have all everything but my 401K at Fidelity.

[54regcab]

Keep in mind if something DOES happen to Fidelity you still own the securities through the mutual fund.

[mlounsbury]

I seriously doubt something drastic is going to happen to one of "the big 3".

 

Who are you considering the big 3? Fidelity, Vanguard and TRP?

[saladdin69]

"Who are you considering the big 3?"

 

Larry Bird

Kevin McHale

Robert Parrish

 

 

saladdin

[hegemony]

this week I am moving our ROTHs and my main retirement account to Fidelity. That will leave only my 457 and my spouse's 401k outside of the fidelity family.

 

we also have some MFs with other companies that we might move.

 

we recently got the fidelity rewards card; 1.5% cashback into a qualified fidelity account with not cashback caps.

 

I only wish they had a step in their fee structure between $8 and $10.95 for market orders. To get the 10.95 rate you only need 50K in assets with them but to get the $8 you need 1 million.

[TutsMarket]

I have a Roth IRA, 401k and Brokerage all with Fidelity. I'm not quite up to the 100k mark yet on all of the accounts but would the accounts be FDIC insured for up to 100k for each account or are they all grouped together since they are all in Fidelity. Also someone mentioned for Mutual funds and other investments that they are still actually held with the fund itself. In a Roth IRA for example the investment has to be in the Roth itself so if I have a mutual fund in a Roth and Fidelity went bankrupt would i have the option to transfer my Roth to another company?

[saladdin69]

Maybe I am misunderstanding you but investments like ROTHs/401K are not FDIC insured.

 

 

saladdin

[TutsMarket]

No I think I actually misunderstood. I thought retirement funds were insured by the FDIC.

[hegemony]

well all our "qualified" money sans spouse's 401k and my 457 are now will Fidelity. Fidelity has a local office which has made the rolls easy.

[hurricanesfans27]

fidelity is awesome.. thats why they are where they are.

[hegemony]

fidelity is awesome.. thats why they are where they are.

I just wish their price points for stock trades were more resonable. We easily get the "silver" rate ($10.99) but it will be a while before we get the "gold" rate ($8.00). For silver you only need 50K, but for gold you need 1 million! They should have at least one step in between IMHO, like 500K or so.

[hurricanesfans27]

fidelity is awesome.. thats why they are where they are.

I just wish their price points for stock trades were more resonable. We easily get the "silver" rate ($10.99) but it will be a while before we get the "gold" rate ($8.00). For silver you only need 50K, but for gold you need 1 million! They should have at least one step in between IMHO, like 500K or so.

 

 

well i wont get silver till my stuff sorts out but I plan on heavily investing as soon as its all done.

[LBCS]

Yup, Fidelity rocks. I moved everything there a while ago.

 

well all our "qualified" money sans spouse's 401k and my 457 are now will Fidelity. Fidelity has a local office which has made the rolls easy.

[Kevin20]

No I think I actually misunderstood. I thought retirement funds were insured by the FDIC.

 

No retirement funds are most definitely not FDIC insured (unless you just happen to be using an FDIC-insured bank savings account as your IRA investment -- which would be a terrible idea).