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I think this info has been posted on a few different threads, but I thought I would combine it all into one. Some of the changes Fidelity has made:
- No more annual fees
-0.1% expense ratio on Index Funds (min of $10k investment for non IRA accounts)
-They have a money market fund (US Government Reserves) currently yielding 3.6% (this changes every day, has been getting higher)
- $100 bonus for opening an account with $10k (after I opened an account they sent me an e-mail about this)
- I also received 25 free trades for the year (I think this has expired)
-They also have United Miles
- You can alse use your account as a checking account. I know that may be an issue for some of the threads I have seen on here, for transfering money between money market funds. Because of this, you could easily use this to pay credit cards, etc.
- and of course the 1.5% CashBack card!
My point is, one can consolidate much of their finances with Fidelity (I'm a huge fan of this). The 3.6% might not be 4% but the money is very easy to move and at the same time since its already with Fidelity you can easily use it to buy stocks/mutual funds. Plus, if you factor in the $100 bonus that helps.
I should mention the min investment for the money market fund above is $2500. However, with Fidelity you setup a "Core account" this is where the money sits when it has just been transferred in, or you made a sale of some other investment. You can set this to be a Municipal fund (no federal taxes) that is yielding 2.4%. They also have some tax-tree state funds so if you live in one of those states its even better.
If you have over $50k in assets you get $10.95 trades (same price as Ameritrade). But when your money is not in investments its sitting in the core account (2.4% tax free) instead of with Ameritrade (0.1% last time I checked). So while Fidelity might not be the absolute cheapest/ have the highest rates in all areas, it is very competitive.
Just thought some FWers would find this of interest.
More Online Coupons from Fatwallet.com.
