I've recently met with a Fidelity advisor and they have given some number to show their performance over the years for a portfolio focused on "Growth" (not agressive, more middle-ish). The numbers they showed were.. not impressive. Lower down in the document was listed several markets for comparison (suspiciously, not side by side). I don't know if I can post a screenshot here (doesn't seem allowed by the community), but they underperformed by what I consider a lot. I would assume some underperformance, but this was too much to ignore. Compared to the S&P 500 average annual returns, here are some numbers provided:
3yrs: Fidelity 2.5% vs S&P 500 9.57%. 5yrs: Fidelity 8.82% vs S&P 500 15.80% 10yrs: Fidelity 6.79% vs S&P 500 12.69%
Even Fidelity's Calendar Year Returns were at least several percent poorer (at least is nice)
On top, they want a ~0.8% fee for the advisory service annually.
I think I already know the answer to their proposed offer to manage my accounts, but I thought I would put this at the table for thought.
Submitted June 16, 2024 at 11:25PM by KeyDirection23 https://ift.tt/UagSGWi
