Fidelity telling me to sell

[Anonymous]

I missed several calls from their reps and today finally talked with them. They say my allocation is aggressive and that I should sell some of it to lock in the gain from the past two years. What do you all think?

[Anonymous]

Did you sign up for a financial advisor with them?

[Anonymous]

What are you invested in? I have them, but never talk to them. None of their business what I buy or sell.
Give us some number. What an how much? How big of a portion is it?

[Anonymous]

No clue, but they've been calling me incessantly over the past few weeks. From the voicemails they leave it's a similar story. I did not sign up for any advising with them which is why I have not called them back yet. I have no desire to pay for advising services. Interested to see other responses.

[Anonymous]

No, I didn't.

[Anonymous]

Scam?

[Anonymous]

Is it in a tax advantaged account?

[Anonymous]

They call me sometimes (but like - once or twice every couple of months, not incessantly). I picked up fairly recently and they were very polite and told me they are contacting people who self-invest to let them know about the financial advisor services they offer and that they have a local office in my area I politely declined and they were very nice about it and stopped calling. Thing this happened one other time a couple of years ago and they also stopped calling for me a long time after I declined. I find it extremely strange that they would call OP with unsolicited advice, enough that I'd wonder if it's a scam (and my allocation is very aggressive, since I have a pension and work retirement accounts which Fidelity would not know).

[Anonymous]

Either scam or they want to run up commissions.

They aren't paying someone to harass you for your own benefit.

[Anonymous]

Sounds like a scam.

And how can they know if you are overinvested in something. I assume you don't have all your assets (retirement, brokerage, cash, etc) at Fidelity?

[Anonymous]

Anonymous wrote:What are you invested in? I have them, but never talk to them. None of their business what I buy or sell.
Give us some number. What an how much? How big of a portion is it?

OP here. I'm half ETF/mutual funds (total market index, s&p 500 and tech) and half individual stocks (insurance companies, semi and defense) in this account. I never thought this is aggressive.

[Anonymous]

Anonymous wrote:Is it in a tax advantaged account?

This is one of our stock brokerage accounts. - OP

[Anonymous]

Anonymous wrote:Sounds like a scam.

And how can they know if you are overinvested in something. I assume you don't have all your assets (retirement, brokerage, cash, etc) at Fidelity?

I was thinking exactly the same. Our retirement accounts are index funds only. I guess I could just ignore their advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What are you invested in? I have them, but never talk to them. None of their business what I buy or sell.
Give us some number. What an how much? How big of a portion is it?

OP here. I'm half ETF/mutual funds (total market index, s&p 500 and tech) and half individual stocks (insurance companies, semi and defense) in this account. I never thought this is aggressive.

This does not tell us anything without more context. First, what is your allocation outside of this account? Second, how old are you?

If I had all of my money allocated the way that you have allocated in that account, I’d worry about being too aggressive myself. I’d think they have a point.

[Anonymous]

We've been getting the same calls and are just ignoring. I did confirm it was actually Fidelity, though.