What is the best brokage house to go with,iam with fidelity and iam not happy?

Question

stock market went up 450 points in the last 2 days and i lost money

Answer 1

That was your first mistake, letting someone else watch your money. Fidelity didn't loose money did they? They get paid whether you make money or lose it. Your second mistake was listening to them.

Answer 2

Your returns have absolutely nothing to do with the company. Some full service broker s may tell you this or a multitude of other reasons as to why youre not getting good returns. ( in an attempt to positon themselves to get your money) Asset allocation is the primary driver of any  portfolios performance and Id venture to say that youve got the bulk of it in aggresive funds. Fidelity is probably the best full service broker out there in terms of service, cost, quality etc. Vanguard is also a fine company

Consider this:

http://www.bankrate.com/brm/news/BoomerB...

Answer 3

There are hundereds of brokers you can choose from.

If you want to self service try:

Scottrade

etrade

Sharebuilder

If you want to work with someone try:

Edward Jones

Wachovia Securities

Smith Barney

Merrill Lynch

Morgan Stanley

Ameriprise

Remember its YOUR money so make sure you go where you like the service and/or people.

Answer 4

I switched from Fidelity about six years ago.  (Not Fidelity's fault; I just needed someone watching after me and that was not their setup).  Now I keep my big stuff with Edward Jones and I play with smaller amounts thru Scottrade.

EJ is more conservative but that has been really helpful during this current slump.

Answer 5

I somehow doubt that it's Fidelity's fault... check your portfolio and make suitable adjustments.  You could switch to Vanguard, but I doubt that it's necessary.  Consider an online broker like Scottrade.

Answer 6

I agree that it is probably not Fidelity's fault.  First, for clarification, are you unhappy that your account is with Fidelity or are you unhappy with Fidelity mutual funds taht you own?

Fidelity has actually been listed by several personal finance magazine as one of the best online discount brokerages for beginers.  I switched to Fidelity about 2 years ago and have been very happy.

If you complaint is with funds that you own, consider the funds stated goals.  While the broad market has increased over the past couple days, some sectors (such as energy) have declined.  If you are in a targeted fund, you cannot expect it to always follow the market.  If you are in a broad market index fund and it has gone down, then yes there is something wrong.

Finally, having an account with Fidelity does not confine you to Fidelity funds.  You can buy into pretty much any fund family from you Fidelity account.