Fidelity or Morgan Stanley
Fidelity or Morgan Stanley
I would appreciate some advice on choosing a financial advisor through an entity like Fidelity or Morgan Stanley? Pro's and Con's.
Thank you in advance
Thank you in advance
Re: Fidelity or Morgan Stanley
Pros work for Fidelity.
Cons work for Morgan Stanley.
Cons work for Morgan Stanley.
Re: Fidelity or Morgan Stanley
Either of those options is likely to be very expensive. As an alternative, I would suggest Vanguard's Personal Advisor Service. The cost there is 0.30% of assets under management and they will use inexpensive Vanguard Funds. Fidelity and MS will charge a higher fee, and use more expensive investments, so they get you coming and going.
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Re: Fidelity or Morgan Stanley
There are lots of good prior threads reviewing brokerages. Around here, you'll see Fidelity, Schwab, and Vanguard mentioned most often, as they are the low cost brokerages that let you manage your own money. All three of these have different types of plans where you can get help from a financial advisor, and different fee structures that support that.
Morgan Stanley is going to be, imho, a higher fee solution, and if your FA is not restrained, will make a mess of your portfolio (I recently had to unwind one for a relative). Of course, the other brokerage houses aforementioned could do the same, but they also have very low cost DIY options that aren't the bread and butter of the Morgan Stanley's of the world.
Morgan Stanley is going to be, imho, a higher fee solution, and if your FA is not restrained, will make a mess of your portfolio (I recently had to unwind one for a relative). Of course, the other brokerage houses aforementioned could do the same, but they also have very low cost DIY options that aren't the bread and butter of the Morgan Stanley's of the world.
Re: Fidelity or Morgan Stanley
^ exactly ^
We know someone that is a Morgan Stanley VP salesman. Run away! You would not believe the portfolio overcomplication and churn, plus babble-talk with one of their "advisors"
Re: Fidelity or Morgan Stanley
Definitely not Morgan Stanley
Re: Fidelity or Morgan Stanley
I agreed with others one should avoid Morgan Stanley. For Fidelity, are you thinking about Wealth Management or the cheaper Fidelity Personalized Planning and Advice with Digital investing and financial coaching?
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Re: Fidelity or Morgan Stanley
Vanguard, Schwab, or Fidelity