[Topic is now in Investing - Theory, News & General; clarified topic title that these are fee increases, not new fees. mod mkc]
Not to be outdone, Fidelity too will be adding fees to purchase Vanguard and Dodge & Cox funds.
I gather that auto-reinvest of dividends for a Vanguard fund will not be affected but am unclear if monthly investment for funds in a 401k would be, seems nonsensical if so? We also have the case in some Fidelity employer retirement accounts that only the Vanguard version of an index fund is available, such as VIGAX, and not the Fidelity equivalent, such as FSPGX.
Is this Fidelity and/or Vanguard driven?
RR
(..)
You are receiving this notice as our records indicate that you have a Fidelity BrokerageLink® account, the self-directed brokerage account offered through your employee benefit plan. Certain fees relating to purchases in BrokerageLink will be changing effective June 3, 2024, as described below. No action is required.
On June 3, 2024, fees will be increased for purchases of a limited number of mutual funds available through BrokerageLink. These fees will be applicable to funds offered by fund families that do not pay Fidelity a direct, asset-based fee to support their mutual funds' availability on our brokerage platform. This fee covers support for shareholder support services, the provision of calculation and analytical tools, and general investment research and education materials regarding mutual funds.
Effective June 3, 2024, the transaction fee for Vanguard and Dodge & Cox mutual funds will increase from $75 to $100 per purchase.
Fidelity plans to update all online channels to reflect this change prior to the effective date. Additionally, the applicable fee is shown on the trade verification page when placing an order for one of the applicable mutual funds.
Prior to initiating a trade in BrokerageLink, you should review any fees associated with the transaction. Please refer to the BrokerageLink Commission Schedule, available on BrokerageLink Central, for a complete list of current brokerage fees. Please note that fund minimums are not applied in all situations to BrokerageLink investors.
Not to be outdone, Fidelity too will be adding fees to purchase Vanguard and Dodge & Cox funds.
I gather that auto-reinvest of dividends for a Vanguard fund will not be affected but am unclear if monthly investment for funds in a 401k would be, seems nonsensical if so? We also have the case in some Fidelity employer retirement accounts that only the Vanguard version of an index fund is available, such as VIGAX, and not the Fidelity equivalent, such as FSPGX.
Is this Fidelity and/or Vanguard driven?
RR
(..)
You are receiving this notice as our records indicate that you have a Fidelity BrokerageLink® account, the self-directed brokerage account offered through your employee benefit plan. Certain fees relating to purchases in BrokerageLink will be changing effective June 3, 2024, as described below. No action is required.
On June 3, 2024, fees will be increased for purchases of a limited number of mutual funds available through BrokerageLink. These fees will be applicable to funds offered by fund families that do not pay Fidelity a direct, asset-based fee to support their mutual funds' availability on our brokerage platform. This fee covers support for shareholder support services, the provision of calculation and analytical tools, and general investment research and education materials regarding mutual funds.
Effective June 3, 2024, the transaction fee for Vanguard and Dodge & Cox mutual funds will increase from $75 to $100 per purchase.
Fidelity plans to update all online channels to reflect this change prior to the effective date. Additionally, the applicable fee is shown on the trade verification page when placing an order for one of the applicable mutual funds.
Prior to initiating a trade in BrokerageLink, you should review any fees associated with the transaction. Please refer to the BrokerageLink Commission Schedule, available on BrokerageLink Central, for a complete list of current brokerage fees. Please note that fund minimums are not applied in all situations to BrokerageLink investors.
Statistics: Posted by RogerRabbit — Fri May 03, 2024 4:37 pm — Replies 3 — Views 518