Commenters mentioned that Fidelity engages in a similar practice to Edward Jones by using proprietary "strategic advisors funds" in its advisory solutions, which are not easily transferable.

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    "post_id": "1worgce",
    "summary": "Commenters mentioned that Fidelity engages in a similar practice to Edward Jones by using proprietary \"strategic advisors funds\" in its advisory solutions, which are not easily transferable.",
    "category": "features",
    "comments": [
      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbpe5z0/",
        "depth": 0,
        "score": 75,
        "author": "FunCap5545",
        "excerpt": "IMO it should be against the rules to use proprietary funds\n\n in taxable accounts. Instead FINRA focus's on things that make our lives hard....",
        "posted_at": "2026-09-24T04:18:18.000Z",
        "author_url": "https://www.reddit.com/user/FunCap5545/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbpefq7/",
        "depth": 0,
        "score": 37,
        "author": "Ill_Age6945",
        "excerpt": "Do they explain that? No. And, why would they explain it? They dont expect their clients to acat. Same goes for Ameriprise \"multimanager\" funds and JPM \"six circles.\" These are big box BD tactics to fuck with client transfers.\n\n How do you deal with it? Explain it before liquidation. No ways around it, attack it head on. If there are a ton of gains, there isnt anything you can do.\n\n What do I thin",
        "posted_at": "2026-09-24T04:20:11.000Z",
        "author_url": "https://www.reddit.com/user/Ill_Age6945/"
      },
      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbpdmd0/",
        "depth": 0,
        "score": 33,
        "author": "testtest99999",
        "excerpt": "Fidelity does the same thing with their portfolio advisory solutions. They have strategic advisors funds which require a client call in to sell",
        "posted_at": "2026-09-24T04:14:31.000Z",
        "author_url": "https://www.reddit.com/user/testtest99999/"
      },
      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbpkckj/",
        "depth": 0,
        "score": 8,
        "author": "Wasepp",
        "excerpt": "To make it worse, they automatically liquidate the positions upon a transfer request, as opposed to an ineligible position rejection. No client authorization resulting in capital gains. Counter to another response, I have first hand experience with notable gains.",
        "posted_at": "2026-09-24T05:02:51.000Z",
        "author_url": "https://www.reddit.com/user/Wasepp/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbrd5p8/",
        "depth": 0,
        "score": 5,
        "author": "bandznbooze",
        "excerpt": "Ask that proprietary funds stay, do not liquidate.\n\n Remove them from fee billing.\n\n Get a cost basis report.\n\n Quarterly TLH/TGH as able across the funds that came and those that stayed.\n\n It’s their way of scaring people into staying when they want to leave, “you’ll gave a big tax bill if you leave.”\n\n Same shit with NW Mutual, thrivent, Fidelity…\n\n If you see that, make sure the ACAT has an LOI",
        "posted_at": "2026-09-24T13:02:20.000Z",
        "author_url": "https://www.reddit.com/user/bandznbooze/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbssrix/",
        "depth": 0,
        "score": 4,
        "author": "MikeyDabs414",
        "excerpt": "The conversation to liquidate is thankfully a lot easier when you show the client how 1. Shitty and 2. Expensive the Bridge Builder funds\n\n are. Terrible product thats clearly only used to fuck with transfers.",
        "posted_at": "2026-09-24T16:49:01.000Z",
        "author_url": "https://www.reddit.com/user/MikeyDabs414/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbwwwn9/",
        "depth": 0,
        "score": 2,
        "author": "ChaseBrownLover",
        "excerpt": "Do people actually assume EJ advisors act as fiduciaries?",
        "posted_at": "2026-09-25T05:08:21.000Z",
        "author_url": "https://www.reddit.com/user/ChaseBrownLover/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1worgce/comment/pbw53u6/",
        "depth": 0,
        "score": 1,
        "author": "Mother-Upstairs330",
        "excerpt": "no, we were never told to explain that. we were told to point out the low internal expenses ratio. I had a guy want to follow me when I went independent, but when I did my due diligence and pointed out that his forced capital gain tax was approaching 6 figures, he decided to leave it there. he didn't like it, either. the guy who got his account was giddy with the increase in his paycheck...",
        "posted_at": "2026-09-25T02:17:23.000Z",
        "author_url": "https://www.reddit.com/user/Mother-Upstairs330/"
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      "[comment u/testtest99999] Fidelity does the same thing with their portfolio advisory solutions. They have strategic advisors funds which require a client call in to sell",
      "[comment u/bandznbooze] Same shit with NW Mutual, thrivent, Fidelity…"
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    "post_date": "2026-09-24T03:59:59.000Z",
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    "post_text": "Ran into this recently and honestly was a little surprised. From what I understand, Bridge Builder funds can't be held outside Edward Jones advisory programs, so if a client leaves, they can't transfer it. They have to sell or keep those funds with EJ .\n\nIn an IRA, whatever. In a taxable account that's a real problem. Someone who's been in these funds for 10+ years could be sitting on a big gain and get stuck with the tax bill just for switching advisors..\n\nA few things I'm wondering:\n\nIs this actually explained to clients before they buy these in a taxable account? Does the EJ advisor bring it up at the time, or is it just buried somewhere in the program disclosures?\n\nHas anyone worked with a client with big embedded gains in these? What did you end up doing?\n\nHow are other people thinking about this from a fiduciary standpoint? Putting non-portable proprietary funds in a taxable account when there are plenty of portable alternatives seems hard to justify…",
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    "post_title": "Anyone dealt with Bridge Builder funds when moving a client from Edward Jones?",
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