Fidelity Private Client Program – Benefits & Requirements

Fidelity Private Client is an exclusive program tailored for Fidelity clients with substantial assets in their investment accounts.

Think of it as the elite status within the Fidelity brokerage firm.

Here is what you need to know about the private client status at Fidelity, its benefits, and the requirements to get into the program.

Fidelity Private Client Benefits

If you qualify for the Fidelity Private Client program, here are the perks you can expect:

1. No Additional Trading Fees: Enjoy the benefit of placing trades without incurring any added fees.
2. Dedicated Financial Advisor: Gain access to a dedicated financial advisor who is well-versed in your financial situation. This advisor will assist you, provide support, and discuss your investment ideas.
3. Free TurboTax: Enjoy discounts or a free copy of TurboTax software.

Fidelity Private Client Requirements

To qualify for Fidelity Private Client membership, you must have over $1,000,000 in assets with Fidelity.

There is no fee to join this program. Once you meet this requirement, you can contact a Fidelity representative or expect to be contacted by one in due course.

For clients who do not meet the criteria for the Private Client program, there is a lower tier known as Fidelity Premium Services. This tier is designed for clients with a portfolio ranging between $250,000 and $1,000,000.

Fidelity Private Client: Recent Insights and Comments

1. Different Tiers for Similar Account Holders:

One interesting observation is that account holders with similar account types and balances can end up in different tiers.

For instance, an individual with just over $1 million qualifies for the “Fidelity Private Client Group” status, while others with higher balances might still be placed in the “Fidelity Premium Service” tier.

This highlights a lack of transparency in Fidelity’s tiering system.

2. Fidelity Active Trader Group

Some clients have reported varying experiences with the different service groups.

While the Fidelity Private Client Group is praised for its swift response times and elevated level of support, the Fidelity Active Trader Group has garnered praise for its professionalism and depth of knowledge.

Fidelity’s tiered service models, including the Private Client Program and Premium Services, cater to clients with high levels of assets. However, there may be some confusion and lack of transparency surrounding these tiers.