Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

September 2021 Update: Fidelity Still Number One

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In my conversations with you, you ask me why we use Fidelity Investments as our custodian for client accounts. As you know, we have a long history with Fidelity going back to when Dick Young called on the firm during his Boston days, well before he started Richard C. Young’s Intelligence Report.

As Dick tells the story, Fidelity was always the high-water mark, along with Wellington Management, especially for the institutional business, and clearly was moving strongly into retail. Fidelity simply never looked back and continues its dominance today. So, if you’re going to trust your lifetime of savings to a firm, it would be hard to outdo Fidelity.

Now then, one reason Fidelity is always at the top of the industry is because it’s a private third-generation family-owned, business. Fidelity is under no pressure from Wall Street to meet quarterly earnings targets. Fidelity doesn’t need to, for example, lend out your cash balance to make a simple buck. When Fidelity needs to invest in its business, it does. Plain and simple.

This year Fidelity will add 16,000 employees to its workforce, mostly in customer-facing positions. In a time when you can get all tangled up in a phone tree at other firms, talking with a live voice on the other end of the line is meaningful. Fidelity understands this to its core. Investing is always about you, not them.

Action Line: If you’re interested in learning about how Fidelity can help you, I’d love to talk.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com