I have an employer sponsored 401k - I previously didn’t use an employer 401k for various reasons, but now it makes sense for me. Anyway, this is the first one I’ve had, it’s with Fidelity, and it’s abysmal. The investment selection is poor, the performance information is awful, they try to hide the returns, and provide “n/a” for cost basis.
Is this normal in 401k accounts? Is Fidelity just a poor provider? I’d expect to pay fees (which I am) because I understand and appreciate the regulatory burden on the companies in offering these accounts, but would also expect them to provide real information regarding performance (and at least give me the options to invest in their own ETFs). How is their performance information so much worse on these accounts than on their other account types?
The craziest part is that if I pay for their managed account services, they can invest in investments which are not options in the plan. I just can’t do that myself (even if I’m willing to pay the fee that the managed account costs).
ETA: I have a couple other accounts at Fidelity and have no issues; find them to be a top-tier retail brokerage firm. Not as good as Schwab, but still top tier, which is why I’m confused by this other ridiculousness.