Fidelity contacted me a few times about my investments. I asked about their strategy, they mentioned diversity and that my MSFT stock accounts for a large proportion of my portfolio and it should not be more than 10%. IMO, msft stock is strong, i don’t want them to sell msft now. do you think it’s worth to let fidelity manage your investments? any experience?
I LOVED Fidelity both times I had access to them through an employer. The dashboard was great, very intuitive to use, and I could move stuff around on my own with zero hassle. I wish I’d left my money there. I use Edward Jones now and while my advisor is cool, their apps are piss poor and stuck in the 90s.
No I wouldn’t let any full service firm manage my money. Index funds charge 15-20 bps while Fido probably wants 100-125 bps annually. Forget it!
Manage how? Actively? Not worth it. You can do it all yourself and not get killed with fees
I wouldn't bother. Just split your money between a domestic index and maybe a little bit in international. Fidelity offers 0% ER indexes (i.e FZROX, FZILX) but IIRC they either don't pay dividends or do so once a year compared to something like VTSAX/VTIAX (0.04%/0.11% ER) from Vanguard which pay out quarterly. I would keep MSFT since it pays dividends and instead decrease your exposure by putting more money into other indexes/stocks in your portfolio. If you have a ton of money in MSFT then maybe you'll want to sell off a small portion every year to rebalance. I've made the decision to just hold as I'm willing to tolerate that risk. Also forgot to mention, if you want a more "hands off" solution, just look into target date index funds and throw a bunch of money into that, e.g. Fidelity 2055 if you're planning on retiring in 2055.
I use Merrill and they're not great. It's like worse performance than just picking some vanguard index funds to invest in