Fidelity Investments 401K Services

23 ratings (21 Epinions reviews)
Epinions Product Rating: Very Good
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Fidelity Portfolio Advisory Service - Not Recommended

Feb 12, 2009
Review by  
Rated a Very Helpful Review
  • User Rating: OK

  • Timeliness of Statements:
  • Web Site Ease of Use:
  • User Friendliness of Statements:
  • Participant Materials:
  • Distribution Processing Speed:

Pros:good customer service, easy to manage accounts

Cons:High fund fees reduce returns, High Transaction fees, Many better funds are not available

The Bottom Line: I will not recommend anybody roll over their IRA in Fidelity Managed Services.



I rolled over 84K last year to Fidelity Advisory in June 15. They have nice people at all offices. I was served by nice lady who talked me reviewed my current status and created Investment Strategy. This is the most stupidest thing you will do if you want to invest with Fidelity PAS. The reason, once you put your money in that account, they will start "Blindly" stick to that investment strategy. I thought they will not invest in the Market as Market has been in Turmoil since March 08. The next day, what I see that I was having 30 different mutual fund in my account. My investment strategy was "Agressive". This so called great Financial Advisors from Fidelity, went in Market, bought me 30 Funds at high price and seat their watching it go down. They call it Disciplined Investment Approach but they do not have any knack of how to get out when things are really bad. My mistake was that I thought they know what they are doing.

I rolled over other 401k amount to IRA but I decided to manage it myself. I bought bonds and some stocks for 30K. I thought this is not good time to go in Market.

Now at the end of 3 months in November 2008, My Fidelity Managed account was holding 50K, they LOST 34K of my Retirement Account. I called them when it was at 70K, they said, we are doing good. Trust us you will be fine. I called them when it was 60K, you know what I came to know, they say we will still to strategy 85% equity and 15% bonds no matter what. If my portfolio goes to 50% of the holding, they will not move it out of Market. I do not know why they take 1% fee when still we need to make decision about what to buy and how to invest in Market.

I DO NOT RECOMMEND Fidelity Portfolio Advisory Service. I recommend people talk to other small Advisory firms. Fidelity does not care about small amount of investment. They are good in sending statements, charging you fees. High transaction fees. Do not recommend as Broker too.
I would say you will do better without it.


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