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You are probably a 2nd class Fidelity customer!

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jerpat
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You are probably a 2nd class Fidelity customer!  Reply with quote  

I've done business with Fidelity since 1990 but only became aware recently that I'm not allowed to purchase some of Fidelity's best performing mutual funds. Here's the message I received from Fidelity which sounds a bit like the old "separate but equal" argument favoring segregated schools:

Thank you for your email. We appreciate you taking the time to contact us online. I am happy to assist you today.

Fidelity does not have different classes for customers. We simply offer funds for retail clients and funds for advisor based clients. This particular fund in not available to all Fidelity retail customers. This fund and others advisor funds like it were created to be purchased through advisors only.

I apologize for any inconvenience this may cause. I am certain you can find a similar fund to this one. To research funds online please click on 'Research" then "Mutual Funds".

I hope this information is helpful. If you have any questions, please contact us any time.



We appreciate your business Mr. G. Have a great day.


Sincerely,

Christopher Rooklidge
Fidelity Brokerage Services LLC, Member, NYSE, SIPC
Post Wed Aug 12, 2015 3:22 pm
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oldguy
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Location: arizona
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quote:
that I'm not allowed to purchase some of Fidelity's best performing mutual funds.


Actually, you are slightly misinformed. All of their funds are available to everyone. But the funds for large transactions (pensions, etc) have different symbols and different expense ratios. Eg, fund X may have an expense ratio of .05% for retail buyers and .01% for million dollar pension buyers. Ie, the economy of scale. But you can buy the same fund but under a different symbol. (Disclosure - I've owned both)
Post Wed Aug 12, 2015 4:00 pm
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