Fidelity Investment Plan Changes: Are They Free?

Fidelity offers a range of investment plans to suit different client needs. These include the 529 college savings plan, Medicare plans, and retirement plans. While there is no fee to generate a plan, expenses charged by your investments and other fees associated with trading or transacting in your account would still apply. You can change your investment plan for free, but only twice per calendar year or upon a change of beneficiary.

Changing 529 plan investment instructions

Changing your 529 plan's investment instructions is simple and can be done online. You may need to adjust how you're investing your 529 college savings plan assets. You can change your future investment allocations or your current asset allocations.

An asset allocation is how and where the money you contribute to your plan in the future is allocated and invested (future asset allocations), and how and where your plan's existing assets are allocated and invested (current asset allocations). As you get closer to paying for college, or if your plan's beneficiary changes, you may want to change your future asset allocations and/or your current asset allocations.

On the 529 Plan Investment Instructions page, you will need to select the account and have the beneficiary's name, Social Security number, and date of birth available.

You can change how your future investments are allocated as often as you like. For example, if your plan's assets are now invested in the moderate growth portfolio, but you want your future contributions to go into an age-based portfolio.

You can change your current asset allocations twice per calendar year (or upon a change of your beneficiary). For example, perhaps you want to exchange your current assets invested in the static portfolio to an age-based portfolio.

You may find it helpful to review asset allocation choices on the 529 Plan Investment Options page.

If you have questions about changing your future or current asset allocations, you can call Fidelity at 800-544-1914.

Your changes for future investment allocations:

• If requested before 4 p.m. ET, they will receive that day's closing price
• If requested after 4 p.m. ET, they will receive the next business day's closing price
• Applies to your entire portfolio: you can't choose to exchange only part of your portfolio
• If you've chosen eDelivery, you'll receive an email confirmation in 1–2 business days. If you don't use eDelivery, you'll receive a statement in the mail in 3–5 business days.

Creating a free, flexible retirement plan

Retirement planning is an important step towards achieving long-term financial security. A good retirement plan should be flexible and allow you to make adjustments as your life changes. Here are some steps to help you create a free, flexible retirement plan:

Define your retirement goals

Start by asking yourself what you want your retirement to look like. Do you want to travel, start a new hobby, or spend more time with family? Defining your retirement goals will help you determine how much money you will need to save and invest.

Assess your current financial situation

Gather information about your current finances, including your income, expenses, debts, and assets. This will help you understand your starting point and identify areas where you can save or invest more.

Create a savings and investment plan

Based on your retirement goals and current financial situation, develop a plan for saving and investing your money. Consider opening a retirement account, such as a Roth IRA or Traditional IRA, which offer tax advantages. You can also explore other investment options such as stocks, bonds, or real estate.

Track your progress

Regularly review your progress towards your retirement goals. This can be done by using a spreadsheet or online tools offered by companies like Fidelity. Adjust your savings and investment strategies as needed to stay on track.

Seek professional guidance

Consider meeting with a financial advisor or using a retirement planning software tool to help you create and refine your retirement plan. These resources can provide valuable insights and ensure that you are making the most informed decisions.

Make it a habit

Consistency is key when it comes to retirement planning. Make saving and investing a habit by automating your contributions to retirement accounts and investments. This will help you stay disciplined and ensure that you are consistently working towards your retirement goals.

By following these steps, you can create a free, flexible retirement plan that evolves with your life changes. Remember that retirement planning is a long-term process, and it's important to regularly review and adjust your plan to stay on track.

Fidelity's straightforward pricing

Fidelity's pricing structure is designed to be straightforward and transparent, with no hidden fees or surprises. The company offers a range of investment options with $0 commission trades, including online US stock, ETF, and option trades. There are no account fees and no minimums to open a retail brokerage account, including IRAs. Trading fees are also highly competitive, with $0 per stock or options trade, plus $0.65 per contract on options, and $0 per trade for ETFs.

Fidelity also offers a range of mutual funds with low or zero expense ratios, such as the Fidelity ZERO Total Market Index Fund, the Fidelity ZERO International Index Fund, and the Fidelity ZERO Extended Market Index Fund. These funds have no minimum investment requirements, making them accessible to a wide range of investors.

For investors looking for simple, professional money management solutions, Fidelity offers digital managed accounts with a gross advisory fee structure that starts at $0 for balances under $25,000 and 0.35%/year for balances of $25,000 and above.

Fidelity also provides access to dedicated advisors and investment professionals who can help clients navigate life's big moments and ensure their investment plans are tailored to their unique needs and goals. These advisory services are offered through Fidelity Personal and Workplace Advisors LLC (FPWA) and Fidelity Brokerage Services LLC (FBS), and are available for a fee.

Overall, Fidelity's straightforward pricing and wide range of investment options make it a compelling choice for investors of all levels, providing value and flexibility with minimal fees.

Fidelity's Virtual Assistant

The Virtual Assistant is available 24/7 and is designed to help users with their requests. However, it is important to note that Fidelity does not guarantee the accuracy of the Virtual Assistant's responses or the suitability of its suggestions for the user's specific situation. While the Virtual Assistant can provide guidance on how to place a trade, it cannot execute trades on the user's behalf.

Users are advised not to input personal or account information when using the Virtual Assistant, as this information is not stored or reviewed by Fidelity for any purpose other than providing search results. Any personal, account, or other information provided to the Virtual Assistant may be retained, accessed by Fidelity personnel, and used and shared in accordance with Fidelity's Privacy Policy.

In addition to the Virtual Assistant, Fidelity offers live chat support with its team, specialized support for accounts and technical issues, and support through various social media channels.

Fidelity's Planning and Guidance Centre

The Planning and Guidance Centre can help you create a flexible plan that is tailored to your needs and goals. It offers suggestions on where to allocate your finances to help you make progress toward your goals. The service also provides an organized view of your financial picture, allowing you to see all your assets and debts in one place. This can help you understand your net worth and make more informed decisions about your finances.

Additionally, the Planning and Guidance Centre can track your spending by categorizing your transactions and highlighting trends, so you know exactly where your money is going. This can help you identify areas where you can save more effectively. The service also provides timely saving and investing tips to help fuel your progress toward your financial goals.

Frequently asked questions