Self-directed brokerage account will be available at Fidelity effective May 21, 2018.
Fidelity BrokerageLink® Documents:
Fidelity BrokerageLink® is a self-directed brokerage account that gives participants access to thousands of mutual funds from many different mutual fund companies.
A self-directed brokerage account is essentially a do-it-yourself option that is designed for investors who desire more choice of investments. When you direct contributions to a self-directed brokerage account, your investments are allocated to mutual funds apart from those available in the plan. This option offers participants a broad range of mutual fund options, but may require more time to assess, monitor, and manage your chosen funds. If you do not feel comfortable actively managing a portfolio of investments, then a self-directed brokerage account may not be appropriate for you.
The investments available through BrokerageLink® are not monitored by the Duke Investment Advisory Committee. It is your responsibility to ensure the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Additional fees may apply for a brokerage account, including transaction fees and brokerage commissions for some transactions. Click here to view the commission schedule for applicable fees and risks.
Optional One-time Transfer In-kind to a Self-directed Brokerage Account
You have the option to transfer in-kind all of your eligible Fidelity or Vanguard balances that are not in the new investment lineup into the same fund(s) in a self-directed brokerage account. An in-kind balance transfer means your holdings will not be bought or sold; your holdings will simply transfer to your self-directed brokerage account. This is a one-time transfer in-kind available to Fidelity and Vanguard eligible mutual funds only and will apply to all Plan balances at Fidelity and Vanguard. Mutual funds with institutional share classes are not offered in the self-directed brokerage account and are not eligible for a transfer in-kind. However, as part of the transfer, the institutional share class may be liquidated and reinvested in the retail share class within the self-directed brokerage account.
To take advantage of the one-time transfer in-kind to a self-directed brokerage account, you must open a Fidelity BrokerageLink® account no later than December 2018. Doing so will serve as your request to transfer in-kind all of your eligible balances in mutual funds at Fidelity and Vanguard into your self-directed brokerage account at Fidelity. For assistance establishing a self-directed brokerage account, please contact Fidelity at 800-823-0172 or visit fidelity.com/duke.
TIAA and VALIC do not permit in-kind transfers into the self-directed brokerage account at Fidelity. To transfer balances from TIAA or VALIC to the Fidelity self-directed brokerage account, please contact the Fidelity team at 800-823-0172 to arrange the transfer. Contact Fidelity at 800-823-0172 for instructions and the necessary paperwork for a plan-to-plan transfer.