Investing With Fidelity
Fidelity is an investment company and a wildly successful one. However, popularity doesn’t mean they’re easy to use. Learn investing with Fidelity here.
How to Invest with Fidelity?
Fidelity – GRADE: B+
Fidelity provides several different accounts to invest your money from brokerage accounts to retirement funds, however due to being somewhat hard to manage, we have given them a grade of B+.
Who They Are
Fidelity is an investment company and a wildly successful one. Chances are you’ve heard of them or seen commercials on TV. However, popularity doesn’t mean they’re easy to use. Fidelity has a website that’s often confusing for new investors, as it can be hard to navigate their platform as well as deposit money.
While their fees are minimal and some mutual funds have no fees, there are a lot of steps to set up these accounts online. You also need to have a certain knowledge of what type of account you wish to set up. You might need to watch a few YouTube videos to learn how to deposit funds or even how to use the website. Your best bet is to know what you’re doing in the first place before approaching Fidelity for opening a new account. Obviously that is a ding against Fidelity for first-time investors.
What They Offer
Fidelity is so big, the better question is what don’t they offer? You can find any kind of investment account here: mutual funds, ETFs, stocks, bonds, CDs, IRAs (both Roth and traditional), 529 Plans, Annuities, and online trading. Depending on what you’d like to do with your money, Fidelity can easily be your one-stop-shop when it comes to investing.
Not only does Fidelity offer every investment account under the sun, they also offer planning and advice, investment products, news and research, as well as online help to know which account is best for you.
Why Choose Fidelity?
For newer investors, their planning and advice can be invaluable to lead and guide you through your investing decisions. They also do not take commissions on ETF, stock, or options trades. There is no expense index ratio for mutual funds, and they might be able to save you up to fifteen dollars for each bond you buy.
They are also light on fees. There is no account service fee, no fee for insufficient funds, no fee for low balances, no account ATM fee, no minimum initial investment, among many more options with no fees. For some investors, the absence of nickel-and-dime fees are a huge draw to Fidelity despite their cumbersome web platform. Even so, Fidelity promises identity protection for their Fidelity Rewards+ members, which includes advanced monitoring, identity theft insurance, and concierge restoration support through a service offered from Experian, called IDnotify.
At the End of the Day
At the end of the day, Fidelity is an excellent choice for investing your money. They offer any kind of investment account you may want or need. Their commitment to having no fees is certainly a draw. Yet the hard-to-navigate website and steep learning curve has earned them a B+ from Financial Joy School.
To learn more about investing, closing the racial wealth gap, and growing generational wealth for Black and brown families, please visit Financial Joy School and become a part of our financial family.