There are much better options
Written: Jun 18 '08
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Pros: Website is generally up. Most of their cust. svc. is American/English/friendly.
Cons: Restrictions, Lack of choices, fees.
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| p-doggy's Full Review: Fidelity Investments 401K Services |
I've used Fidelity/401k svcs through my employer for years. And generally they've been nothing to write home about. As an astute investor I first am underwhelmed by the funds available to me. I've been told this is my company's issue and not Fidelity. I don't really buy that because I believe it Fidelity made a good sales pitch I'm sure people would consider.
I also feel like I'm getting "fee-d to death". From the "high activity fees" I incur from changing/balancing my portfolio more than 2x a year, to the fees on their sucky mutual funds. I honestly cannot see how, when discount brokerages charge $20-30 to buy/sell a mutual, that Fidelity charges $75, PLUS will suspend your trading if you "trade too much". I don't know how much that is--but it's frigging ridiculous.
HELLO FIDELITY--IT'S **MY** MONEY!
I think there are certainly better options available to businesses. I've used 20th Century and their choices seem much better. I also think Vanguard would be a strong choice, but have no experience with their institutional side.
And to comment on the HR person who likes them "cuz it's easy".. egads, HR people are morons.
Recommended:
No
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p-doggy
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Reviews written: 1
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