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I execute my positions on Fidelity myself. Just created a bond ladder the other day. I sold all my bond funds recently, and still wanted safety. Point is their website is pretty simple, and it may even be cheaper. Not sure about that though.
I have tradeable accounts in TD Ameritrade and Fidelity. Fidelity is the simpler of the two sites BUT - I always get the highest possible cost trade execution from them if I use "market." If a stock has been trading in, say, a .10 cent range in the last 5 minutes, it is ALWAYS the highest of the range. I could use limits (and I do for some stocks) but generally when I decide to buy something, I know the price I want and I only put the order in at that time.
No names mentioned. I recently sold some shares in a mutual fund and told them to purchase shares in a different mutual fund (same company)
I do not pay close attention to my funds (my wife says little if any) but yesterday I went online to check statements. The shares had been sold but the new ones had not been bought. The money was sitting in a cash account.
I called the company. I was told the fund I wanted to buy into was closed for new purchases. I said all well and good but why was I not called/notified of that. They had no answer. They are going to investigate what happened (they opened a dispute claim) but I do not expect anything as a result of it. I then bought into another fund.
Mea culpa...but always check closely.
And as you noted, therein lies the problem. I am always amazed when people say that they don't monitor their investments, they don't reconcile their credit card statements with their receipts, or they don't balance their checkbook (if they even have one). No company, no matter how large and no matter its reputation for quality, is 100% accurate in performing its functions. Not monitoring how their actions (or inactions as the case may be) affects your finances is just foolhardy.
And as you noted, therein lies the problem. I am always amazed when people say that they don't monitor their investments, they don't reconcile their credit card statements with their receipts, or they don't balance their checkbook (if they even have one). No company, no matter how large and no matter its reputation for quality, is 100% accurate in performing its functions. Not monitoring how their actions (or inactions as the case may be) affects your finances is just foolhardy.
I would have sworn Mrs. Tek wrote this if not for the name.
I agree with the others that you MUST confirm things. Actually I'm surprised you didn't get an email. I invest with several online firms including Fidelity and I get an email for EACH and EVERY transaction so I'm surprised you didn't see that you didn't get an email and note that it never went through.
I agree with the others that you MUST confirm things. Actually I'm surprised you didn't get an email. I invest with several online firms including Fidelity and I get an email for EACH and EVERY transaction so I'm surprised you didn't see that you didn't get an email and note that it never went through.
I did admit I was at fault. That said, with so much info (mailings, Email, sales stuff, etc.) it is getting easier and more common to "overlook" things.
Not blaming Fidelity more then anyone else, but I get so much "crap" from them it is almost a fulltime job keeping up with it and separating the wheat from the chaff.
As an example. Is leaving a voice mail for someone relieve one of the responsibility of being sure one knows? If I left the message, is it your fault for not getting it.
Folks if desired may want to be sure they ave signed up for E-confirmation. I know just to look for email from confirming when anything from auto contributions etc etc etc.
I think you can opt out of certain emails from Fidelity. I remember I used to get a bunch as you mentioned, but I opted out of several except for a notice when my monthly account statement is available and ALL trade confirmations.
I do agree with you it's good to stay up to date on this stuff. Especially in this day and age of technology where it's mostly do it yourself. I much prefer these days with $8 stock trades. I still remember paying upwards of $100 to a stockbroker to make a trade.
Those were the days when you actually had to really think twice before you really wanted to buy a stock.
I agree with the others that you MUST confirm things. Actually I'm surprised you didn't get an email. I invest with several online firms including Fidelity and I get an email for EACH and EVERY transaction so I'm surprised you didn't see that you didn't get an email and note that it never went through.
If you want to have any chance of thwarting an unauthorized transaction, you have to catch it quickly (within hours) - doesn't do anyone any good to notice it days/weeks/months later. I also get a confirmation email from V every time we have ANY transaction. So if we got an email without making a transaction, we'd be all over it. I consider it a very, very important part of security and I've never overlooked an email from my brokerage no matter how many others we get. YMMV
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