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jenndorsi

Fidelity Or Fidelity Advisor

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Hi Everyone,

 

I have a quick question. One of the only non-insurance companies on my vendor list is Fidelity. I spoke to 2 men, both from Fidelity, the other day. One is going to mail me information on their funds and I can either pick my own or choose Fidelity Freedom. There is a $6 quarterly fee. The other man is a Fidelity advisor who wants to meet with me. There is a 1.5% annual fee ( I believe is what he said) for his advice.

 

If anyone has any suggestions, I would greatly appreciate it.

 

Jennifer Johnson

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Hi Jennifer,

I am going to recommend that you go with one of the Freedom Funds. Dan on this website has an article about that type of fund. Read it HERE. There is no reason to pay an agent to advise you when you aren't really going to do better than this. Besides this website, Morningstar.com has a discussion board too. The Vanguard Diehard Forum is one of the best to get your questions answered. There is also a Fidelity Forum too. Check it out. Keep coming back with questions. This is YOUR money.

Best Wishes.

 

Joe

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Jennifer,

 

If you want to keep it simple and cheaper, go with the Freedom Fund in the non-advisor acct. It may be worth your time to speak with the Fidelity advisor though and ask him what services he will provide for the extra fee. It may be worth it to you for the extra 1% or so. You can always stop putting money into the advisor acct. if you don't like the service you get. Also, the Fidelity Advisor product has some good (great managers) funds that you can't get in the non-advisor plan.

 

Good Luck,

 

Chad

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I believe that the Fidelity advisor has an eight and half percent load. I'm not sure what the Freedom fund is, or any charges.

Fidelity has a spartan fund (10K) minimum that is very low priced, especially for index funds, now at an expense of only .1. These funds include but not limited to are, total mkt, 500, International, extended market.

I suggest that you call fidelity direct and speak with one of the reps, asking if theree is any load associated with the freedom fund, and what funds are available.

 

Ira

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