Is Fidelity Wealth Management Worth It? Here’s the Truth

Someone asks:

Would anyone like to share their experience with Fidelity’s Wealth Management service?

I’m 50 and am wondering if it’s worth the 0.35% to 1.5% fee they charge. Thanks!

Fidelity is a good brokerage for investors who want to invest in mutual funds and individual stocks. The company has a strong customer service reputation.

However, its wealth management services are more controversial. Some financial advisors argue that the fees charged by Fidelity for these services are not justified by the company’s performance. Others contend that the quality of Fidelity’s wealth management services is worth the price.

Ultimately, whether or not Fidelity Wealth Management is worth the fee is a decision that must be made by each individual investor.

Community Comments:

Skvaveli R:

No, it’s not worth it. You can pick low-cost index funds, and you already paid yourself 0.35-1.5 % premium.

Mark H:

Put your money in Fidelity Freedom Target Index Funds. As you might with CDs, ladder your investments. Then watch the money grow.

And remember the rule of 72. Divide 72 by the ave yr return. So at 10%, your money will double in 7.2 years.

Sam S:

1% + the expenses is too much but typical. Avoid management as much as possible.

Paul L:

I spoke to an advisor and have decided to cancel advisory services. I can handle rebalancing myself, and I can call anytime for help if needed.

I’ll possibly go back to advisory services when I’m much older, but for now, I can save the money and be fine managing the account myself.

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Hi! I'm Diego, 38, and I currently reside in New York. I work as a financial analyst. I primarily focus on initiatives involving research and data analysis.

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