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Fidelity Premium, Private Client Services

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.


  • Maybe they pick up the phones faster, but I have actually noticed that the reps seem to know less,than they used to. A lot of the reps seem like college kids on their first job. If you are calling for advice, then chances are the reps won't be useful. They are polite, but the ones (for the most part) that I have dealt with recently don't seem to be too much on the ball. I have never spoken to a woman rep, oddly enough.
  • At both fido and ML the phones seem to get picked up faster and the reps seem sharper, though in part it may be placebo effect.
  • Mrs. Ruffles and I have Fidelity Premium based on our combined accounts (though for some reason it no longer shows it when we log in). A local “advisor” was, at one time, assigned to her account but he couldn’t provide us with any customized advice, just referred us to the website and Fido’s promotional materials. When we emailed some basic questions, he ghosted us and was never heard from again. As always, YMMV.
  • Recalling from the peak Covid period of time; which affects my dating of some events. We had an individual assigned to our accounts; if we needed/wanted to have a direct contact at a Fido business office within our region. He did call 2 times to introduce himself and express he could help us with any questions/services.
    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.
  • My experiences. At Fidelity same as above. Quicker phone help with more seasoned reps with Premium. Dedicated rep disappeared. With Etrade surprise ,surprise, surprise. A dedicated rep who has a direct # and calls back usually within 15 min. He handles any questions, problems etc to make my "experience" more satisfying with Etrade. I believe this is available with a minimum 50K account. No portfolio advice as this is a self directed account. Vanguard has children answering the phones. Firstrade and Wellstrade have no dedicated reps even with large self directed accounts. Ally Invest is sad. Anyone else with a different assessment of these?
  • Fidelity as a Mutual Fund Co has very good service online. Seems their local rep calls you only if invested thru them. Otherwise, they'll refer to their 800 Rep. Fidelity's main Incoming $ client base may be thru the company's 401K type employees /customers, with different 800 Phone numbers vs Retail brokers like Schwab.
    How's Schwab's service?
  • Recently opened an ETrade account and the assigned rep has been very attentive with keeping me up to date on the status of asset transfers. Even offered me an higher transfer bonus than the public offer.

    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.
  • I have found Schwab somewhat problematic but generally OK. It is pretty easy to get a rep on "chat" but a lot of times they tell you they can't help and you have to call the number.

    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.
  • edited January 2023
    All brokers are a bit confusing/disingenuous about funds "Available".

    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.
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