Author Topic: Wells Fargo No Longer Trading Fidelity Funds  (Read 1087 times)

oldmannickels

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Wells Fargo No Longer Trading Fidelity Funds
« on: November 14, 2018, 02:55:45 PM »
It looks like FSTMV/FSTVS funds converted to FSKAX on 11/2. When I tried to execute a trade for FSKAX it wouldn't let me. I had to call and one of the traders found out that Wells Fargo Brokerage is no longer able to trade Fidelity Funds.

I don't really know what to do because I can't use Fidelity or Vanguard brokerage accounts. Does anyone have any insight into what happened?

oldmannickels

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #1 on: November 14, 2018, 03:02:26 PM »
This is a list of my approved providers (it sucks I know)
1st Global Capital Corp
Pershing, LLC
Citigroup Global Markets, Inc.
E*TRADE
Frontier Wealth Management
Interactive Brokers LLC
LPL Financial LLC
Morgan Stanley Smith Barney
Oppenheimer and Co.
TD Ameritrade
UBS Financial Services
Waddell & Reed, Inc.

Frankies Girl

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #2 on: November 14, 2018, 04:18:50 PM »
Fidelity removed all the classes/restrictions on many mutual funds. As such, there's no need for investor/premium classes which is what the FSTMV/FSTVS differences were. They're now under the new fund ticker as the FSKAX going forward, and don't require any minimum $$ to invest.

I can't help with the approved providers other than to say steer way clear of UBS. They sucked when I had them. Oh, and Oppenheimer is supposedly okay but stupid high expense ratios. :(

COEE

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #3 on: November 14, 2018, 08:27:02 PM »
"Approved Providers"?  What's that?  Why would you have a list of approved providers?  Are you international?

I've heard okay things about TD Ameritrade.  I wouldn't get all excited about them though.  Looks like like their cheapest S&P500 ER I could find is SVSPX (0.16%) - which I held at E-trade for a while.  Meh - spits out a lot of dividends and capital gains (taxes!).  Sounds like they have better ETF's.  I'm not a huge ETF fan though.

I left E-trade a while back after they, more than once, changed a no load fund to a load fund on me (SVSPX was one of them, if I recall correctly).  I was tired of it.

I left Wells Fargo nearly a decade ago... can you say fees?  Yikes!


seattlecyclone

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #4 on: November 14, 2018, 08:55:21 PM »
Can you buy Vanguard ETFs through Wells Fargo?

terran

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #5 on: November 14, 2018, 09:43:38 PM »
TD Ameritrade has some good commission free ETFs. Sort by expense ratio here: https://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp

"Approved Providers"?  What's that?  Why would you have a list of approved providers?  Are you international?

The OP probably works for a financial institution in some capacity. They often restrict where an employee can invest for compliance reasons.

COEE

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #6 on: November 15, 2018, 03:34:24 AM »
"Approved Providers"?  What's that?  Why would you have a list of approved providers?  Are you international?

The OP probably works for a financial institution in some capacity. They often restrict where an employee can invest for compliance reasons.
[/quote]

Ah - okay that makes sense.  Thanks for the info.

oldmannickels

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #7 on: November 15, 2018, 07:08:54 AM »
Can you buy Vanguard ETFs through Wells Fargo?

Vanguard funds are on my not allowed to buy no matter who the broker is list.

Rob_bob

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #8 on: November 15, 2018, 03:21:18 PM »
I have been with TDAmeritrade for years, the only broker I have experience with.  $6.95 per trade on stocks and ETF's, more for mutual funds but I don't buy them so I don't know what it is.  They have no transaction fee ETF's as well, I use a couple, Total US Market SPTM, they are not Vanguard funds.  eTrade is probably okay from what little I have read.

Financial.Velociraptor

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Re: Wells Fargo No Longer Trading Fidelity Funds
« Reply #9 on: November 15, 2018, 04:24:16 PM »
I have TD Ameritrade for my HSA investments.  It is a small account and I rarely do more than 1 trade a year but I see nothing there to make me speak ill of them.