These aren't usually advertised.Īs a last point, it's possible that your friend reached a million when the minimum requirement was a million. That being said, I'm sure they have some sort of super elite informal status for ultra high net worth individuals. Meanwhile elite status with an airline, hotel, credit card company, or brokerage is usually a way to separate status obsessed idiots from their money. I'm guessing they're not going to downgrade your friend's tier, but they've diluted the value.Īs a rule of thumb, being a millionaire is cool. They assigned status based on wealth tiers, whether they had Fidelity manage their money, and/or they traded (and paid commissions) frequently. The sometimes offered a few free trades, but now everyone gets that. It seems like it was mostly a way to get you to build up a relationship with a Fidelity advisor and potentially transition to paying them for their reportedly cookie cutter services. Cost of additional state returns are the responsibility of the client.īasically it's about the only place I could find for a discount based on tiers (aside from the Stock certificate transfer and ship fee).Īs there's not too many fees anymore I bet they're doing away with the tiers so you stay in whatever tier you were when dropped a bunch of the fees otherwise a bunch of people call and ask why the dropped out of "their tier."īased on a quick search, I think they got rid of it. Applies to Federal returns and one state return only. * Active traders who trade 120+ trades per calendar year and has one or more nonretirement account(s).Ĭertain covered clients: Private Wealth Management (PWM) client and owns one or more nonretirement account(s) or PCG, Premium, and ATS clients with minimum assets of either: PWI assets of $1,000,000 or more and PI assets of at least $500,000 and own one or more nonretirement account or Nonretirement assets $1,000,000 or more. The seems to indicate that the following get TurboTax: This is also seen in other areas such as qualification criteria for free TurboTax each year.įor comparison, vanguard is fully transparent about it's various tiers, benefits and qualification criteria on their website.įor the record, I'm not trying to chase any specific tier here (heck, I don't even know what benefits come with it!), just trying to understand what are the various tiers for self-managed accounts, qualification criteria and benefits that come with it. It feels (to me) that there's a deliberate attempt to be less transparent here. Why is that the case? My advisor gives me very wishy-washy responses when I ask about these tiers. All that the website talks about are tiers based on what portion of your holdings are under management by Fidelity (via advisor or Fidelity go), but nothing for self-managed account tiers like private client group. We both hold the same types of accounts as well (Roth IRAs, HSA and regular brokerage).įidelity doesn't have anything on their website about what these tiers provide in terms of benefits, how much assets are needed to qualify etc. I have far more than that at Fidelity but still have the "Fidelity premium service" tier. My friend has a Fidelity account with slightly more than $1 million and has the "Fidelity private Client group" status.
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