I heard that Amazon is moving all their employee 401k accounts from Vanguard to Fidelity in Jan2020. Anyone knows why that's the case? Does Fidelity have lower fees or a broader investment portfolio?
Splunk is doing the same, although from Transamerica. Fidelity must have a good pitch
Same reason people change companies (money). Companies change providers all the time.
Vanguard’s ETF transaction fee is lowest compared to other non ETF fund. They publish ETF by themselves. It’s hard to believe Fidelity buy and sell Vanguard’s ETF could be cheaper?
Better start believing.
I don’t know what is Vanguard ‘s 401K. But State Street (the company publish SPY) is using Fidelity as 401K . Maybe there is some magic black box in Fidelity we don’t know lol.
Cost and service.
Almost certainly money-related, what else? Amazon also administers stock plans through Fidelity, so it's probably a combined discount.