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While the new funds are attracting all the attention, I find these other changes more interesting: Expense Ratios have been slashed across existing funds: htt

While the new funds are attracting all the attention, I find these other changes more interesting: Expense Ratios have been slashed across existing funds: https://www.fidelity.com/mutual-funds/investing-ideas/index-funds https://www.fidelity.com/mutual-funds/investing-ideas/index-... Premium, Investor, and Institutional classes are all being merged into 1 class with lower fees and no minimums: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/press-release/Fidelity-Redefines-Investing.pdf https://www.fidelity.com/bin-public/060_www_fidelity_com/doc... For people holding existing Fidelity index funds, you just start paying less now without having to do anything.

deleted 8y ago
[deleted]
astura 8y ago
I got this email this morning, short and sweet: --- As of August 1, 2018, we introduced the following changes, which will be automatically applied to your affected Fidelity accounts: • Removed account fees and minimums • Eliminated domestic money movement fees • Lowered expense ratios on all Fidelity stock and bond index mutual funds • Introduced two index mutual funds (FZROX and FZILX) with a zero expense ratio No action is required on your part. --- I've never paid a fee for domestic money movement (EFTs) so I wonder what that refers to. Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements)
- nerdponx 8y ago
  Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements) Schwab has this as well, and a better privacy policy than Chase to boot.
- bbarn 8y ago
  If you have good credit, their credit card is good for a daily driver if you're the type who pays off a card monthly. Unlimited 2% cash back, no annual fee. You can set up the cash back to go straight into investment accounts too.
  - patja 8y ago
    It is a good one, but my experience is that the customer service on the card is not so hot. Namely they are overly aggressive with fraud detection, which combined with slow card replacement can be problematic. They canceled my card once because I swiped it instead of inserting the chip for reading, said they could not reverse the action, and then took over a week to get me a replacement card (granted there was a holiday weekend, but this was very different from Amex who always have overnighted replacement cards)
    - goldscott 8y ago
      I've had the opposite experience with my Fidelity card. I've accidentally swiped it a few times with no consequences, just had to insert the chip afterward. Their fraud detection has been spot on. I must've gotten skimmed and incurred a fraudulent charge. The card was immediately cancelled, I was notified, and three days later I had a new card in the mail.
    - hashkb 8y ago
      I've never hard my card permanently deactivated. They will definitely freeze my card if I make three or four large purchases in a day or over a weekend, but there's always an immediate robo-call asking me to confirm and then it's instantly active again.
    - bonestamp2 8y ago
      > they are overly aggressive with fraud detection That's the worst, BoA is like that too. Chase and Amex seem to work well for me.
- mrb 8y ago
  «Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements)» Yes, just like Charles Schwab. I wonder why most Americans don't know about this and either pay ATM fees, or endure the hassle of never using an ATM outside of their bank network.
  - iancarroll 8y ago
    Schwab is kind of a PITA for opening a savings account though. I had to fax them a form to open it.
    - leetcrew 8y ago
      my guess is this is not a common use case among their customers. why do you want a savings account anyway?
      - oplav 8y ago
        I keep my emergency fund in a high interest savings account. I don't know what Schwab's rates are, but if you don't care about that yield and have other accounts with Schwab, maybe the simplicity is worth it.
        halbritt 8y ago
        Maybe try I-bonds? Better Rates than high interest savings. The downside is that you can only invest 10k at a time and you’re illiquid for six months.
        halbritt 8y ago
        Why is this getting downvoted? Current return on I-bonds is 2.52%, higher than any high-yield savings that I know of. It compounds semi-annually, tracks inflation, and there are no penalties for withdrawal. Seems perfect for an emergency fund and less hassle than a CD ladder. I'm not shilling an investment product, it's available direct from the US treasury: https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
- huck_cussler 8y ago
  "I've never paid a fee for domestic money movement (EFTs) so I wonder what that refers to." It might be for wire transfers, which are same-day money transfers.
- pishpash 8y ago
  One of the truly few notices from companies these days that aren't lies about "improving our services to you" or have a catch.
- inetknght 8y ago
  This sounds like an excellent way to keep customers.
bonestamp2 8y ago
I wonder what forced this decision. I'm guessing they were losing too many customers to Vanguard?
- anonu 8y ago
  The entire fund industry is experiencing cost compression. It's a race to zero

deleted 8y ago

[deleted]

astura 8y ago

I got this email this morning, short and sweet: --- As of August 1, 2018, we introduced the following changes, which will be automatically applied to your affected Fidelity accounts: • Removed account fees and minimums • Eliminated domestic money movement fees • Lowered expense ratios on all Fidelity stock and bond index mutual funds • Introduced two index mutual funds (FZROX and FZILX) with a zero expense ratio No action is required on your part. --- I've never paid a fee for domestic money movement (EFTs) so I wonder what that refers to. Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements)

nerdponx 8y ago
Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements) Schwab has this as well, and a better privacy policy than Chase to boot.
bbarn 8y ago
If you have good credit, their credit card is good for a daily driver if you're the type who pays off a card monthly. Unlimited 2% cash back, no annual fee. You can set up the cash back to go straight into investment accounts too.
- patja 8y ago
  It is a good one, but my experience is that the customer service on the card is not so hot. Namely they are overly aggressive with fraud detection, which combined with slow card replacement can be problematic. They canceled my card once because I swiped it instead of inserting the chip for reading, said they could not reverse the action, and then took over a week to get me a replacement card (granted there was a holiday weekend, but this was very different from Amex who always have overnighted replacement cards)
  - goldscott 8y ago
    I've had the opposite experience with my Fidelity card. I've accidentally swiped it a few times with no consequences, just had to insert the chip afterward. Their fraud detection has been spot on. I must've gotten skimmed and incurred a fraudulent charge. The card was immediately cancelled, I was notified, and three days later I had a new card in the mail.
  - hashkb 8y ago
    I've never hard my card permanently deactivated. They will definitely freeze my card if I make three or four large purchases in a day or over a weekend, but there's always an immediate robo-call asking me to confirm and then it's instantly active again.
  - bonestamp2 8y ago
    > they are overly aggressive with fraud detection That's the worst, BoA is like that too. Chase and Amex seem to work well for me.
mrb 8y ago
«Fidelity also has an extremely attractive product in their cash management account (free checking account with ATM reimbursements)» Yes, just like Charles Schwab. I wonder why most Americans don't know about this and either pay ATM fees, or endure the hassle of never using an ATM outside of their bank network.
- iancarroll 8y ago
  Schwab is kind of a PITA for opening a savings account though. I had to fax them a form to open it.
  - leetcrew 8y ago
    my guess is this is not a common use case among their customers. why do you want a savings account anyway?
    - oplav 8y ago
      I keep my emergency fund in a high interest savings account. I don't know what Schwab's rates are, but if you don't care about that yield and have other accounts with Schwab, maybe the simplicity is worth it.
      - halbritt 8y ago
        Maybe try I-bonds? Better Rates than high interest savings. The downside is that you can only invest 10k at a time and you’re illiquid for six months.
        halbritt 8y ago
        Why is this getting downvoted? Current return on I-bonds is 2.52%, higher than any high-yield savings that I know of. It compounds semi-annually, tracks inflation, and there are no penalties for withdrawal. Seems perfect for an emergency fund and less hassle than a CD ladder. I'm not shilling an investment product, it's available direct from the US treasury: https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
huck_cussler 8y ago
"I've never paid a fee for domestic money movement (EFTs) so I wonder what that refers to." It might be for wire transfers, which are same-day money transfers.
pishpash 8y ago
One of the truly few notices from companies these days that aren't lies about "improving our services to you" or have a catch.
inetknght 8y ago
This sounds like an excellent way to keep customers.

bonestamp2 8y ago

I wonder what forced this decision. I'm guessing they were losing too many customers to Vanguard?

anonu 8y ago
The entire fund industry is experiencing cost compression. It's a race to zero