Fidelity Helps Keep More Money in Your Pocket: App Referral Bonus on Sign-Up, Plus Simple Subscription-Based Price with Robo Advisor
New App Further Differentiates the Industry-Leading Value Fidelity Offers Via Zero Commission Online Trading*, Zero Account Fees, Zero Account Minimums, Zero Investment Minimums, Zero Expense Ratios Index Funds
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Fidelity Investments®, a diversified financial services firm with $8.3 trillion that is committed to inspiring better futures for customers of all ages, announces the launch of Fidelity Spire℠, a free mobile app that provides a simplified design and an innovative decision-making tool to help young adults achieve their financial goals.
Fidelity Spire is designed to inspire young adults to stay focused, motivated and informed when making money decisions by enabling users to plan, save and invest more easily for short- and long-term goals. The simple but powerful mobile experience lets users:
- Set goals and track progress: Through an intuitive interface, users select what they are saving for, the amount they need, and when they’d like to reach their goal – allowing them to track their progress and align an account to their goal’s timeline.
- Prioritize goals: With a unique “one touch” decision tool, users can immediately see the long-term impact of allocating more money toward one goal versus another.
- Access to simplified investing pricing: Users are able to explore investing options, such as the award-winning Fidelity Go® robo advisor1 to manage the investing for them. Unlike competitor offerings with minimum requirements and higher subscription fees, this offering has no account opening minimums, comes with a low $3/month subscription-based price and portfolios comprised of zero expense ratio funds.
- Get money tips: Fidelity Spire features a “Learn” section with quick- read financial tips and education that are specific to the user’s goals.
“At a time when our relationship with money can feel overwhelming, Fidelity Spire is designed to put young adults in control of their money decisions with a mobile experience that is easy to navigate, convenient, and even fun,” said Kelly Lannan, vice president, Young Investors, Fidelity Investments. “Many of our younger customers are strong savers, but they tell us it feels intimidating to start investing. While the app is free, for those ready to take the next step – they can feel reassured that investing can come with professional help at an affordable price.”
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To thank new users and give them a small jumpstart in reaching their goals, Fidelity is offering $5 sign-up and referral bonuses. Once qualified for a $5 signup bonus, the user is eligible to refer friends to get five additional $5 referral bonuses and earn up to $30 total in bonuses.2
It Matters Where Your Money Is
Fidelity Spire enables users to save, plan, set short- and long-term goals, and invest. As with any financial goal, time horizon and choice of account type are key considerations. Fidelity Spire currently makes it easy to link goals to two different types of Fidelity accounts. For a short-term goal established in Fidelity Spire, the Fidelity® Cash Management account, with no fees or minimum balances, and ATM fee reimbursement, can be a powerful option. For long-term goals, with the opportunity for investment growth over time, users can decide whether to invest on their own, or enroll in a service that does the investing for them like Fidelity Go.
In keeping with Fidelity Spire’s simplicity and value, Fidelity Go is moving to a subscription pricing of $3/month for accounts with a balance of $10,000 to $49,9993. For accounts with a balance of less than $10,000, Fidelity Go will be free of any advisory fees. With this clear approach to pricing, Fidelity continues to eliminate the complexity of investing. Fidelity is the only brokerage firm to offer the combination of zero online commissions for stocks and ETFs trades, zero account fees, zero account minimums to open a retail brokerage account, zero investment minimums, zero expense ratio index mutual funds available directly to retail investors, and fractional share trading for stocks and ETFs.
“I graduated from college during the last recession and especially empathize with recent grads as we know many are struggling,” said Lannan. “Fidelity Spire was in development before the COVID-19 pandemic, but today’s reality has put a spotlight on the importance of learning, setting goals, investing efficiently and having an easy way to track progress. With Fidelity Spire, we want young investors to feel confident in their money smarts and ultimately live the lives they want.”
Download Fidelity Spire for Apple iOS or Android™, or learn more by viewing a short demo video and visiting www.fidelity.com/spire.
