Can I link my wife's Fidelity account to my Fidelity account?
Yes. I can look at my wife's Roth and traditional IRA accounts from my login and vice versa. I had to log in using her username/password and "grant" myself permission to see her accounts. After I did that, they showed up under my login.
You will need the Social Security or tax identification number for each member of the household, or you can use the specific account numbers for the accounts you'd like to include. Each member of the household or additional account owners will need to sign the request.
Go to Fidelity.com/forms to download any additional forms that may be required. Joint Account — Adding Spouse • Current owner. New owner (spouse). Current owner, but only if the account is over $100,000 and you don't provide a copy of the marriage certificate.
How do I add an account to Portfolio > Summary? Click the View Other Account link at the bottom of the Summary page to start the process. During the View an Account process, you can search for and add your accounts from the thousands of financial institutions that participate in this service.
Short answer: Yes, you can have multiple Fidelity accounts. They can also be together and linked as one to make signing in easier. There aren't any general downsides. It's purely a personal preference.
Joint investment accounts allow two or more people to invest together. You can invest in just about anything with a partner, including stocks, bonds and funds; property (such as vehicles); or real estate. Combined ownership in financial assets is referred to as joint tenancy.
A joint brokerage account is shared by two or more individuals. Joint brokerage accounts are most commonly held by spouses, but are also opened between family members, such as a parent and child, or two individuals with mutual financial goals, such as business partners.
To change to an Individual, Joint, or Custodial account, complete the Change of Account Registration — Changing to an Individual, Joint, or Custodial Account form. For more about account types, go to Fidelity.com/chgacct.
If you prefer, you can Open an Account online. Once you receive your new account number, complete the Transfer between Fidelity Accounts form. Transfer Between Fidelity Accounts form (PDF)
Go to Fidelity.com/TransferMoneyShares or call 1-800-544-6666. Use this form to transfer assets from one Fidelity brokerage account to another Fidelity brokerage account. Do NOT use this form to change the registration of an existing account or to transfer from or to a Mutual Fund Only account.
How do I combine my Fidelity 401k accounts?
- Step 1: Set up your new account. ...
- Step 2: Contact your old 401(k) provider. ...
- Step 3: Deposit your money into your Fidelity account. ...
- Step 4: Invest your money.
...
Getting started is easy
- Choose the account you want to relink.
- Enter the institution name.
- Enter your credentials.
- Verify the account.
- Repeat until you've relinked all your accounts.
| Method of purchasing a transaction fee fund | Transaction fee (purchases only) |
|---|---|
| Online | $49.95 for most funds* |
| Fidelity Automated Service Telephone (FAST®) | 25% off representative-assisted rates Maximum: $187.50 Minimum: $75 |
| Representative-assisted | 0.75% of principal Maximum: $250 Minimum: $100 |
While multiple brokerage accounts may provide benefits to a narrow range of retail investors, the added work may outweigh any advantage. Having more than one account means getting multiple emails, handling added 1099 tax forms, negotiating different platforms, and using many passwords (which carry hacking risks).
If you want to buy and sell individual stocks and other investments, then you pretty much need at least one brokerage account. By opening an account, you can use your broker's expertise and access to invest in exactly what you want to own in your portfolio.
Stocks can be given to a recipient as a gift whereby the recipient benefits from any gains in the stock's price. Gifting stock from an existing brokerage account involves an electronic transfer of the shares to the recipients' brokerage account.
Individuals wanting to transfer their securities account from one broker-dealer to another initiate the process by completing a Transfer Initiation Form (TIF) and sending it to the firm to which they want to transfer their account.
According to Dominique Broadway, a financial planner and Founder of Finances Demystified, you should generally avoid combining your investment accounts with your spouse. She notes, however, that every couple is different and should take their own personal relationship into account when thinking about this decision.
The short answer is: no. You can't trade stock for someone else. That's illegal unless you're an investment professional. There are a lot of legal requirements to manage other people's money.
In the case of a brokerage account held in joint tenancy by spouses, the tax basis for one-half of each asset in the brokerage account generally will receive a tax basis increase (or decrease) upon the death of the first spouse.
What type of Fidelity account should I open for stocks?
- Brokerage account: When people talk about trading stocks, they're typically talking about doing so in a brokerage account. ...
- 401(k): This is an employer-sponsored plan account for investing for retirement.
Fidelity's account minimum is $0*, which has become the industry standard for brokers we review, as many no longer have a required minimum to open or maintain your account. Some investment choices, such as mutual funds, may require a minimum initial investment.
Fidelity and Vanguard both do a good job keeping costs fairly low, but Fidelity has a slight edge overall. Both brokers charge zero commission for stock and ETF trades, but Fidelity charges $0.65 per contract on options trades, while Vanguard charges $1 per contract for customers with less than $1 million in assets.
If you withdraw from your 401(k) before age 59½, the money will generally be subject to both ordinary income taxes and a potential 10% early withdrawal penalty. (An early withdrawal penalty doesn't apply if you stopped working for your former employer in or after the year you reached age 55, but are not yet age 59½.
- The names of all the account owners. ...
- The current address of record and your daytime phone number.
- The Fidelity account number you're gifting from.
- The recipient's name, SSN, and Fidelity account number to be credited.
Why can't I make online withdrawals from SIMPLE IRAs and Keogh plans? SIMPLE IRAs and Keoghs are not eligible for the online withdrawal option because of the tax reporting requirements. For withdrawal options on these types of accounts, contact a Fidelity representative at 800-544-6666.
- Step 1: Set up your new account. ...
- Step 2: Contact your old 401(k) provider. ...
- Step 3: Deposit your money into your Fidelity account. ...
- Step 4: Invest your money.
The term joint tenant with the right of survivorship (JTWROS) refers to a legal ownership structure involving two or more parties for any type of financial account or another asset. Each tenant has an equal right to the account's assets and is afforded survivorship rights if one of the account holder(s) dies.
Units of a mutual fund cannot be transferred from one holder to another, nor can they be gifted by one person to another. Mutual funds are also not allowed to accept 'third-party' payments—meaning, you cannot use money from your wife's bank account to make investments in your name.
To remove an owner due to death from an account reg- istered as Tenants in Common or Community Property, complete a Change of Account Registration request. Visit Fidelity.com/forms to complete the request.
