Fidelity Trust Services

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JeanM
Posts: 26
Joined: Fri Jun 09, 2023 9:46 am

Fidelity Trust Services

Post by JeanM »

Has anyone used Fidelity's trust services? If yes, any feedback you care to offer? Thx.
Cruise
Posts: 2750
Joined: Mon Nov 21, 2016 6:17 pm

Re: Fidelity Trust Services

Post by Cruise »

I'm bumping this to ask the same question: Is anyone out there who has experience with Fidelity as a trustee or or co-trustee?

How is their service?

What are their fees?

How did you choose them vs. another corporate trustee?

Many thanks.
bsteiner
Posts: 9208
Joined: Sat Oct 20, 2012 9:39 pm
Location: NYC/NJ/FL

Re: Fidelity Trust Services

Post by bsteiner »

We've had a few clients pick Vanguard as a trustee (they're less expensive than Fidelity or Schwab or a conventional bank or trust company), but none of them has died yet so I don't know how it will work out.
frequentT
Posts: 184
Joined: Sat Jan 28, 2012 3:06 pm

Re: Fidelity Trust Services

Post by frequentT »

yes we are using them

as I recall, it took some energy to connect with the right people since our FA had no other clients using their services. once we got started the process was straight forward

Fidelity gave us the legal language that they wanted used in our trust to appoint Fidelity as successor trustee. We had our attorney add to trust; and then the Fidelity trust lawyers reviewed. There were no further changes and the document was executed.

As we are both alive, I cannot comment on their execution skills. I am sure they will do a fine job.
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typical.investor
Posts: 5263
Joined: Mon Jun 11, 2018 3:17 am

Re: Fidelity Trust Services

Post by typical.investor »

frequentT wrote: Fri Sep 29, 2023 6:06 pm yes we are using them

as I recall, it took some energy to connect with the right people since our FA had no other clients using their services. once we got started the process was straight forward

Fidelity gave us the legal language that they wanted used in our trust to appoint Fidelity as successor trustee. We had our attorney add to trust; and then the Fidelity trust lawyers reviewed. There were no further changes and the document was executed.

As we are both alive, I cannot comment on their execution skills. I am sure they will do a fine job.
Do you know expected costs? Will they be managing the investments or will that responsibility be retained by the FA's firm? What is the investment plan if the FA were to retire or the firm closes? Would they take management over and do you have any outline on how they would approach it?
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billthecat
Posts: 1052
Joined: Tue Jan 24, 2017 1:50 pm
Location: USA

Re: Fidelity Trust Services

Post by billthecat »

typical.investor wrote: Fri Sep 29, 2023 6:31 pm
frequentT wrote: Fri Sep 29, 2023 6:06 pm yes we are using them

as I recall, it took some energy to connect with the right people since our FA had no other clients using their services. once we got started the process was straight forward

Fidelity gave us the legal language that they wanted used in our trust to appoint Fidelity as successor trustee. We had our attorney add to trust; and then the Fidelity trust lawyers reviewed. There were no further changes and the document was executed.

As we are both alive, I cannot comment on their execution skills. I am sure they will do a fine job.
Do you know expected costs? Will they be managing the investments or will that responsibility be retained by the FA's firm? What is the investment plan if the FA were to retire or the firm closes? Would they take management over and do you have any outline on how they would approach it?
It would be great to find a comparison of retail corporate trustee services. For anyone who might be aging solo, is a corporate trustee an effective solution to guard one's assets from fraud, etc.?
We cannot direct the winds but we can adjust our sails • It's later than you think • Ack! Thbbft!
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