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Old 12-05-2006, 10:12 AM   #1
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I understand I can do stock trades for $10 a trade with them. The broker I now have is costing me a arm and leg to trade. I just wonder how Fidelity gets their money. I got a meeting next Wed. Dec. 13 to see what they can do. The broker I now have called me while RVing at Myrtle Beach a few weeks ago and told me one of the stocks I now have is going to go way down and suggested I trade. I did as he said and it cost me over $700 for the trade. The stock I sold has had a nice increase since I no longer own it.
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Old 12-05-2006, 10:12 AM   #2
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I understand I can do stock trades for $10 a trade with them. The broker I now have is costing me a arm and leg to trade. I just wonder how Fidelity gets their money. I got a meeting next Wed. Dec. 13 to see what they can do. The broker I now have called me while RVing at Myrtle Beach a few weeks ago and told me one of the stocks I now have is going to go way down and suggested I trade. I did as he said and it cost me over $700 for the trade. The stock I sold has had a nice increase since I no longer own it.
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Old 12-05-2006, 10:29 AM   #3
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Do you want a broker to help you manage your portfolio, or do you simply want to have an account from which you can execute trades? If the latter, check out E*TRADE as well.

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Old 12-05-2006, 11:13 AM   #4
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diandtom

I left Smith Barney for that very reason. We have been with Fidelity Investments now for about six years and we are very happy with them.
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Old 12-05-2006, 11:14 AM   #5
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I really don't think I want a broker. A friend once told me all they do I make you broker. I now think he was right. Fidelity will not advise unless you want a managed account.
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Old 12-05-2006, 01:32 PM   #6
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There are many discount brokers you could consider. Do a search in Money or Kiplingers to find an objective rating & recommendation.
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Old 12-05-2006, 06:22 PM   #7
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I'm quite content with Fidelity handling my IRA. All my mutual funds are "no load", with no fees for any actions; a result of a "roll-over" from a employer plan.
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Old 12-05-2006, 07:54 PM   #8
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I have had Fidelity for 7 years and have been pretty happy with them. Their website has a lot of tools and information. They have a huge amount of funds to choose from. In fact, so many that it is a little overwhelming. One recommendation is that if you need advice, try to see a couple different Fidelity people in your local office. I found that although the last person I saw gave decent advice, I was not that confident in some of their recommendations. Next time I go in I will talk to someone else.
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Old 12-07-2006, 09:40 AM   #9
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Tom - I use Ameritrade. It use to be Datek. I've been able to lose a considerable amount of money
but nothing like the fanancial skinning I took from Merrill Lynch. Bad advice and huge fees.

Fortunately my retirement nest egg is in no load mutual funds. The big name financial companies sell no load mutual funds but they're not actually no load. If you want to see how your no load mutual funds size up, go to http://www.fundalarm.com/ he's a no charge, unbiased source of info.

Yahoo Finace is another good research tool. Check out MPGFX - neat little Minnesota company that invests in MN companies. It's an actual no load fund and small fees. I have no financial interest in promoting MPGFX but I own a small amount of their stock. http://finance.yahoo.com/q/pr?s=MPGFX
Notice the expense ratio and the 12B1 fees. 12B1 fees are just "one" of the ways the big guys get you on their "no load funds".

I buy my mutual funds directly from the respective companies. No sales fees. I'm thinking of dumping Ameritrade.
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Old 12-08-2006, 05:32 AM   #10
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I have Fidelity through my 401K program at work.
I am able to pick from various fund groups and I am happy with the results

I check the performance of each fund every few months with Investors Business Daily newspaper http://www.investors.com/thirdparty/...99&src=ABPYLDI

You can order it but I just pick in up at the store

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by diandtom:
I understand I can do stock trades for $10 a trade with them. The broker I now have is costing me a arm and leg to trade. I just wonder how Fidelity gets their money. I got a meeting next Wed. Dec. 13 to see what they can do. The broker I now have called me while RVing at Myrtle Beach a few weeks ago and told me one of the stocks I now have is going to go way down and suggested I trade. I did as he said and it cost me over $700 for the trade. The stock I sold has had a nice increase since I no longer own it. </div></BLOCKQUOTE>
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Old 12-09-2006, 08:25 AM   #11
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My wife and I have numerous mutual funds through Fidelity and have had for around 20 years. I quit buying or selling through dealers like diandtom mentioned in the early 80's.

I wanted to buy Chrysler when it was around $2.00/share but 8 or 9 brokerage folks convinced me that wasn't a good idea. I followed one of their recommendations and lost money. A year later, Chrysler was around $17.00/share. I haven't paid much attention to the "experts" since then.

Good luck.

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Old 12-09-2006, 10:28 AM   #12
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by apackof2:
You can order it but I just pick in up at the store </div></BLOCKQUOTE>

Yes you can. But at $295/year , you'd better be doing awful well on your investments!

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Old 12-09-2006, 11:38 AM   #13
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I just heard one of the experts recommending one of my funds MXXIX. Better put it on my sell list.
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Old 12-10-2006, 11:50 AM   #14
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I have been w/ Fidelity at least 10 yrs now and find them generally great to deal with. I used Schwab at one time but dropped them & transferred funds when they started to nickel & dime with fees. I think they got the message as they have now backed off the fee approach but the damage is done as far as I'm concerned. I think the $10 trades are for their Gold service level but even the higher fees catagories aren't that much more. The other point is that is the internet rate and it's higher if you phone & talk to a real person to trade.[
Good luck
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