Fidelity Investments 401K Services
(21 Epinions reviews)
Epinions Product Rating:
Fidelity Portfolio Advisory Service - Not Recommended
Feb 12, 2009
Review by gm_bayarea
Rated a Very Helpful Review
Recommend this product?
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.
Read all comments (1)
Share this product review with your friends
Store Search search Title, ISBN and Author The Perfect 401(k) Investment Plan: A Successful Strategy by Lawrence A. Freitas Estimated delivery 3-12 bu...
Buy IRA and 401(k) Investment in Real Estate by Stephen L. Smith and Read this Book on Kobo's Free Apps. Discover Kobo's Vast Collection of Ebooks To...
fidelity vintage deck, transmissions model. new. shipping is 25 usd to all countries usa, canada, australia, europe - 25usd
Store Search search Title, ISBN and Author IRA and 401(k) Investment in Real Estate: For Syndicators, Other Real Estate Professionals, and the Rest of...
Add timeless appeal to your weekend wear with the High Fidelity boot from Eastland®. Smooth leather upper with a traditional lacing system for easy on...
Mens Casual Boots from Eastland: Eastland Men's High Fidelity Boot - Tan. Leather Casual Cap Toe Boots. Sizes: 11,11.5,12,8.5 Widths: Medium (D). Thi...
Sizes Available: 9.5 D. Embrace your masculine sense of style with the High Fidelity boots by Eastland.Leather upper in a casual boot style with a cap...
High Fidelity USB Stereo PC - When sound quality is your top priority Andrea Electronics PC headsets offer a quality noise canceling microphone with t...
Sizes Available: 12.0 D. Embrace your masculine sense of style with the High Fidelity boots by Eastland.Leather upper in a casual boot style with a ca...
Cap toe boots provide both comfort and style for all your weekend adventure but are stylish enough to rock during the work week, too. Wear them everyw...