Fidelity IRAs Review

Fidelity offers special discounts on tax preparation services, specifically TurboTax ($20 off), H&R Block ($25 off) and TaxAct ($30 off) to its customers.

Fidelity offers three account management options:

1) Fidelity Go - human advisers manage these IRAs, which can be invested in a diversified mix of mutual funds, based on the owner's answers to a few simple questions. Although there is no minimum amount required to open a Fidelity Go account, the Fidelity brokers will invest the funds according to the investment strategy the IRA account owner has chosen only when the account balance reaches $10. IRA owners can monitor their progress, schedule deposits, review account activity or review their holdings online, but cannot buy and sell individual investments on their Fidelity Go accounts.
2) Portfolio Advisory Services Account through Fidelity Wealth Services - Wealth Services is a wide range of diversified managed accounts, which include retirement advising and investment tax management, among others. Under Portfolio Advisory Services, IRA owners work alongside a team of financial professionals, who will tailor the account to the owner's goals, comfort level with risk, and timeline. Within this type of account management, IRA owners may choose from three different investment strategies: diversified, tax-sensitive, and diversified income. The first requires an investment of at least $50,000 and the last two require a minimum investment of $200,000.
3) Fidelity Strategic Disciplines - A financial adviser will provide focused single-asset class portfolios that are personalized to the IRA owner's specific objectives. An investment of $200,000 to $500,000 is required.

The website is fairly easy to navigate and provides useful tools for financial and retirement planning. However, it does not disclose any detailed terms and conditions of the IRAs they offer.

FINRA lists 20 regulatory events and 111 arbitrations for Fidelity. These have all concluded and their resolutions are not subject to change. Regulatory events refer to either a final, formal proceeding initiated by a regulatory authority due to a violation of investment rules and regulations or a suspension of Fidelity's authority or its affiliates' to act as an attorney, accountant or federal contractor. Fidelity's regulatory events were either settled or consented to the sanctions without admitting or denying the findings. The arbitrations accounted for above are those held before FINRA involving securities and commodities disputes between public customers and Fidelity.