Fidelity Investments Account Types

Fidelity Investments offers several types of brokerage accounts, catering to various investment needs and preferences. The main account types include:

• Individual Brokerage Accounts: Owned by a single person, allowing full control over investment decisions.
• Joint Brokerage Accounts: Shared between two or more individuals, which can be further categorized into:
• Joint Tenants with Rights of Survivorship (JTWROS): Both owners have equal rights, and ownership automatically transfers to the surviving owner upon death.
• Tenants in Common (TIC): Each owner holds a specific percentage of the account, and upon death, their share goes to their estate.
• Tenancy by the Entirety (TBE): Exclusive to married couples, requiring consent from both spouses for account changes, with the surviving spouse gaining full ownership upon death.
• Retirement Accounts: Such as IRAs, which have specific tax advantages and are designed for long-term retirement savings.

Fidelity Investments Broker Account Opening Process

To open a brokerage account with Fidelity, follow these steps:

• Choose the Account Type: Decide whether you want an individual, joint, or retirement account based on your investment goals.
• Gather Personal Information: Collect necessary details, including your full name, address, Social Security number, and employment information.
• Complete the Application: Fill out the application form online or in-person at a Fidelity branch. This process typically takes only a few minutes.
• Fund Your Account: Deposit money into your account using methods like electronic transfer, bank transfer, or check. Some accounts may not require an upfront deposit.
• Start Trading: Once your account is funded, you can begin purchasing investments. It may take up to two business days for the application to be processed.

For more detailed information and assistance, visit Fidelity's official website.