Account numbers on emails

[CS]

Hi all,

Recently Fidelity has starting sending me notices of my monthly statements with part of my account numbers on them! I really don't appreciate this unnecessary sharing of sensitive information (even partial) over such a non-secure medium. Also, do I really need to be told when the monthly statement is ready?

There doesn't seem to be a way around this. If I turn off electronic notices, then I get a bundle of papers every month that I then have to shred (because I don't care on a month to month basis, frankly).

This has also happened to my credit union. Their response when I complained was "other people do it". I kid you not. That is not an acceptable response from a second grader, much less a bank CEO (He and the CTO both gave that excuse. I wanted to go and bang my head against the wall).

So far Vanguard has not done that to me... unless I'm missing something.

I like the idea of splitting money in more than one institution to be cautious. So while I'm happy with Vanguard, I'm not sure it's smart to flee Fidelity and put all those eggs together.

How are you guys handling this? Any good companies you recommend? Fidelity pretty much has no interest in providing a satisfactory solution (or satisfactory to me).

[Jason]

After reading your post, I looked at a Fidelity alert I received yesterday and realized that when notified of an electronic transfer they include a partial account number from the originating source as well - so that's two partial numbers not to mention the exact dollar amount of transfer. Damn. If they ask for my penis size, I'm moving everything to Schwab. It would be bad enough losing sleep worrying about some Russian stealing all my money plus their girlfriends knocking down my door at all hours.

I also have Vanguard. Fidelity is playing a dangerous game in their pissing match with Vanguard. By moving towards such low fees on mutual funds, its just going to move everyone to index and ETF's because why bother having actively managed accounts that aren't actively managed. I think they are over thinking their game.

One thing I like about Fidelity is that their customer service is far superior to Vanguard. They are extremely helpful when Vanguard people talk to you like they just want to get back to posting on the Bogelhead forums. Vanguard is great for its customers but it must be hell to work in the same office as that old cheap prick. I also have Ameriprise and I swear it's like talking to someone straight out of Fargo. "So you want to make a trade, do ya"?

I am calling Fidelity Monday.

[CS]

Jason - would you recommend either Schwab or Ameriprise?

Fidelity tries for the active management - maybe no one's biting. I didn't.

[unemployable]

Not Jason, I know.

Ew, not Ameriprise. What little experience I've had with Schwab is good, but I wouldn't go with them with less than $100K.

Vanguard tends to be a little... paternalistic I'd say? I don't want to link my bank (brokerage) account and please stop asking me every time I log on. That said, I've had decent customer service talking to them directly.

[Jason]

(CS)

Schwab - I opened Schwab because Future Advisor was recommending some of their ETF's. Like most retail providers, when you buy their ETF's there is no commission. I do not use Schwab for any of their advisory services. I think I spoke to them once when the account opened. Upon checking my alerts, I do not see any account info.

Ameriprise - The thing about Ameriprise is that because of their business model, you are provided a local advisor. My first one was awful, my second is great. When you trade, you are speaking to someone from Minnesota. My new advisor put me into a Nuveen fund that has performed very well. And when I buy stocks or funds of my choosing, he doesn't try to reel me back into the company line. But from a fee basis, they have to be the worst. So I think its best to stay away. I was already in it. It is very much your Uncle's Buick.

Fidelity is getting their ass kicked by Vanguard due to this generation's abhorrence of paying human beings. I believe that is why their customer service is so good as they are trying to show you why you should pay people. They have walked me through things and when I am reminded that eventually I will be taking money out, I feel better that most of my retirement is with them. For the JL Collins index types, I can understand why they would prefer Vanguard.


Edit: I performed a trade today with Schwab. Notification came back with last three numbers of account as well as specifics of trade: Price, actions, quantity, symbol, unit price, principal amount. I think like most competitors in the same industry, they are imitating one another.