Do these service levels still exist in anything but name? Are there private client investors here who still have a dedicated rep (including extension number) named on their statements? Do premium service investors still have a dedicated team, or just a phone number to get to "more skilled" representatives?
With the cost of providing automated services dropping close to zero, ISTM that we're seeing a democratization of platform services - free services for all investors. OTOH, merely bringing more assets doesn't seem to buy more personalized service any more. Rather, one must pay for the human touch (beyond general service concerns) through Fidelity's Wealth Management services
One finds the occasional exception where more assets or activity gets you more: ATM rebates on all brokerage accounts, not just CMA accounts; better margin rates for active traders
. But these are the rare exceptions.
This is not a complaint. I'm happy with Fidelity's fee schedule and quality of service, and feel that all investors should be treated well regardless of wealth. I'm just wondering whether there's any reason to shoot for or maintain a particular asset level at Fidelity.
We were not involved in any Private Client or advisor services. I suspect he was assigned to us based upon our asset base with Fido. There were about 10 others at his office in similar positions.
He was shown as our contact when logged into the web site. My best recall guess is that this was the 2019-2021 period and then he was no longer shown as our contact. I don't know whether Fido stopped the practice, or because we never contacted him for any services.
@Soupkitchen et al
Fidelity hiring 1,000's
I suspect you'll have contact with some 'newbies', I've never encountered a circumstance, however; when a rep. who couldn't fully help, didn't immediately escalate my call to the proper person of knowledge.
How's Schwab's service?
Had to have some paperwork completed at my local Schwab office and it went very smoothly. Local rep followed up by email a few days later.
It is hard to tell what they can handle and what they will punt. I sold a stock and then bought a treasury bill not realizing that the Bill settled that day. They set up an automatic margin account and charged me $3. I complained and the chat rep reversed the charge.
I have an account executive who is good, if there is something really complicated. He called me every three moths or so but when it was obvious I wasn't going to use him other than for questions he quit. But the will still respond by email in a day or two.
It is hard to reach him directly from their web page. I can't remember how I got his email.
Only Fido Balance screen breaks it down an "Available without margin" and "Available with margin".
Rest leave it up to people to keep track of Settlement dates. Simple "Available" isn't what we may think.
Not all will reverse margin charges.