Fidelity Roth IRAs Review
ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
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Established in 1946 and based in Boston, Massachusetts, Fidelity Investments is a privately-held financial services corporation specializing in asset management. Although best known for their mutual funds, Fidelity also operates a major brokerage firm with offices located across the United States, and offers wealth management, retirement services, and life insurance.
How is Fidelity rated?
Breakdown
5.0/5
IRA Types
5.0/5
Investment Options
5.0/5
Account Features
4.5/5
Fees and Discounts
5.0/5
Reputation and Customer Support
Overall Rating: 4.8 / 5 (Excellent)
When it comes to investment options, financial planning, and asset management, Fidelity offers affordable options for every type of investor. It excels in its online features, maintaining an organized and easy-to-use website that provides account holders with all the necessary tools to track market action and manage their funds. Fidelity also receives high marks for its customer service, particularly the variety of ways to contact the firm, either by phone, chat, e-mail or in person. Fidelity's Roth IRA product is definitely suited for investors just starting out on the path towards retirement planning, since it does not have a minimum deposit amount and does not carry account opening or maintenance fees. Further, for those account holders who wish to invest and trade in the market, commissions on trades, margin rates, and fees are very competitive compared to other brokerage firms. Fidelity also offers managed account solutions for investors who require personalized assistance in their decision making and fund management. These managed accounts are designed for different types of investors: from the simple digital advisor that executes your preferred investment strategy, to portfolio and wealth management services for account holders with large deposit amounts. By maintaining such a rich array of options, Fidelity makes a solid choice for investors of all stripes.
Fidelity Account Minimums
IRA Types - 5 / 5
Opening a Fidelity Roth IRA does not require a minimum deposit amount, making it a solid option for investors who are starting out but don't currently have sufficient funds to meet higher initial deposit requirements. However, some investments, like mutual funds, do require a minimum initial deposit.
| How much money do you need to start? | 0 |
| How much do you have to keep in your account? | 0 |
Fidelity Investment Options
Investment Options - 5 / 5
With Fidelity's Roth IRA, account holders can invest in both high-risk and low-risk opportunities: from basic stocks and bonds to FDIC-insured Certificates of Deposit (CDs). Having a variety of investment options allows investors to diversify their portfolios, if they are so inclined. These choices are common offerings from high-volume brokerages.
How can I invest my money?
| Mutual Funds | |
| Index Funds | |
| Stocks | |
| Bonds | |
| Money Market Accounts | |
| Certificates of Deposit | |
| ETFs | |
| Options |
Fidelity Fees and Commissions
How much do they charge?
The Roth IRA has no opening or annual fees. Nonetheless, depending on the types of investments held, some fund management or trading fees may apply. The commission for an online U.S. equity trade is $4.95 per trade.
Account Features - 5 / 5
Like most IRA products offered by other brokerages, Fidelity's Roth IRA has no fees attached to its opening or maintenance. Any costs stemming from its use will come from trading fees or commissions related to investment transactions. These rates are in line with industry standards. As with any other brokerage, customers would be wise to peruse the full list of possible commissions and fees.
Fidelity Financial Reputation
Fees and Discounts - 4.5 / 5
As one of the largest asset managing firms in the United States, Fidelity enjoys a solid financial reputation. The company maintains over $2 trillion in assets under management and employs about 45,000 financial service professionals.
| How many "regulatory events" does FINRA list for them? | 20 |
| How many arbitrations does FINRA list for them? | 111 |
Fidelity Online Experience
Reputation and Customer Support - 5 / 5
Fidelity's website is simple and easy-to-navigate, with a straightforward layout. Although users will need a username and password to access all of the site's features, most of the useful sections regarding products and services, as well as the learning center category, can be accessed by anyone. Investors who have an online account can control their finances, complete trades, make payments, and monitor their investments. They can also communicate with customer service representatives via chat or e-mail.
What's their website like?
Fidelity's webpage includes informative sections detailing its products and services, plus a learning center with tips for financial planning and retirement. For account holders who want to manage their own investments, Fidelity provides a central dashboard from where they'll be able to trade and perform other financial transactions.
Fidelity Methods of Contact
How do I communicate with them?
| App | |
| Phone | |
| Chat | |
| Branch |
Methods of Contact - 5 / 5
Fidelity receives high marks for its communication options, giving customers the freedom to reach out for assistance at any time. Besides 24/7 customer service over the phone, the company has an automated virtual assistant that can answer many basic questions by guiding you through the website. If further assistance is required, Fidelity has a live chat option available 7 days a week in a more limited time period. Additionally, there are branches across the United States so investors can talk directly with a representative or advisor.
Fidelity Advisors
Advisors - 4.5 / 5
Maintaining a Roth IRA does not require financial advisory services, but Fidelity does offer several managed account solutions to handle investments and retirement. Fidelity Go is the basic option; a low-cost digital advisor for simple account management. By answering a few questions and picking an investment strategy, account holders provide their advisors with the necessary information to map out a plan of action. This option is a reasonable entry point for first-time investors who require some assistance. For account holders with larger investment portfolios and willing to assume additional costs, Fidelity Wealth Services offers more personalized advisory solutions.
| What kind of advisors do they have? | Human Advisors |
| What should I know about their advisors? | Fidelity offers several tiers of financial advisory services, depending on the level of management required and amount invested. However, these financial advisory services are completely optional and account holders can manage their investments on their own. |
Fidelity Promotions
Promotions - 3.5 / 5
Fidelity does not have a current promotion for its Roth IRA, but it does periodically offer commission-free trades when a certain amount is deposited. The company allows non-customers to test out its tools and features with a 30-day Guest Access free trial. This way, potential investors can get an idea of Fidelity's offerings and the online resources available to them.
What special promotions could save me money?
Fidelity will sometimes offer special promotions for free trading. Customers are recommended to verify Fidelity's website periodically.
Company Profile
| Full Name | Fidelity Roth IRAs |
| Company Website | |
| Headquarters | 155 Seaport Blvd, Boston, MA, 02210 |
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Top Rated
- Offers Roth IRA certificates of deposit (CDs)
- Interest rates are higher than many competitors'
Discover offers a dedicated Roth IRA CD, which can be purchased with maturity dates ranging from 3 months to 10 years. Although Discover does not offer other Roth IRA options, it can be a good choice for people who want CDs to be part of their Roth IRA portfolio.
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