I see on here that a lot of people advise to use Fidelity for buy and hold investment. Is there a reason why Fidelity specifically? Also any suggestions for investments would be great. I'm a newbie in investment. Moving away from robo advisors. #personalfinance #investments
Fidelity is privately owned, large enough to do lot of stuff in house without conflict of interest, good customer service , app and website leave some stuff do be desired, but for buy and hold trades you don't care so much. I do day/week trading on fidelity too and it works for me paired with yahoo finance and tradingview.
To add, syncs nicely with TurboTax when doing taxes, and like others said, having 401k through them makes it easier to manage all in one place.
Customer support is good. An actual human will answer your call
Fidelity UI is crappy (as compared to RH). As a result I hardly feel like opening my fidelity portfolio everyday, thus avoiding any urge to sell my investments based on market behavior. Automatically leads to buy and hold 😆
The new UI is pretty nice I’d say.
Schwab / Vanguard / Fidelity are usually recommended because their funds tend to have the lowest fees in the industry.
Fidelity does not do payment for order flow business. That’s the big factor
Because investment isn’t and should not be a fun activity with praises and confetti. It shouldn’t be as easy as one click.
The lowest fees and best customer service, even amongst companies charging higher fees.
Fidelity was easier to get started so here I am. You can buy index funds with no minimum, whereas vanguard required at least 3k or similar (I was in college when I opened mine)
I prefer schwab ui but got both fidelity and schwab accounts through previous employers so I suppose I'll hang on to both for the time being.
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Some companies have their 401K with Fidelity so they decided to make their individual account with Fidelity as well.
This
Also they charge less than Morgan Stanley.