Hi,

Fidelity sent me a communication today that they are discontinuing Wealth Lab Pro. Do you know why? Are they creating their own solution or are they abandoning trading automation entirely for their customers?

I looked on your home page and there is an advert there for Wealth Lab Developer 50% off. Is this license for one year (12 months) only? What happens at the end of the year? Can I continue using the software and I just stop getting free updates, or does my ability to use the software simply end?

Thanks!
K

Hi,

Please refer to this topic:

Fidelity decommissioning WLP in June 2020?

Also, kindly follow the private link in the communication to enroll in the program.

For customers migrating from WLP the license price is waived. The license is always lifetime but requires a maintenance payment per license that applies starting from 2nd year after purchase (migrating WLP customers will use WLD for free during 2020 after paying $150 per license, thus being able to continue their usage through 2021).

Ability to use WLD is put on hold after your maintenance period expires, and restarts with the next annual payment (for you, in 2022).

Hi,

I got the same message from Fidelity. Please let us know. This is very important. I have been using Wealth-Lab for the trade analysis for many years and I would like to continue to use it. How about the Data feed from Fidelity? It is faster to get the data from Fidelity. I think this is bad move from Fidelity. For those of us that have accounts with Fidelity, we should let Fidelity know.

Thanks,

Jeff

No login to WLP after 07/31/2020.

No data feed from Fidelity.

No trading through Fidelity except placing orders manually via ATP / Fidelity website.

My strategies depend on FidelityStaticProvider streaming of different time intervals, such as 5-minutes. with no data feeds from Fidelity will be other data providers of similar features in the international developer version?

Thanks

Wealth-Lab Developer and 1 minute data providers

Thanks Eugene. This is very frustrating for those of us who have invested a lot of time developing personalized strategies for use in Wealth Lab Pro. I have tried to make it clear to my Fidelity advisor that WLP is the main reason I'm with Fidelity, but they don't seem to understand. There is probably some cost-benefit analysis going on over there regarding the number of users in my situation but I guess we just aren't numerous enough to justify whatever the contract fees are for them.

QUOTE:
I guess we just aren't numerous enough to justify whatever the contract fees are for them.

Your line of thinking is correct.

QUOTE:
... we ... aren't numerous enough to justify whatever the contract fees are for them [Fidelity].

I would be happy to pay an extra usage fee to keep WLPro going as is. As it stands now, it's going to cost me $100/mo just for a stock price and fundamental data feed, and I won't be able to trade on my Fidelity account with WLD.

I'm thinking the real reason Fidelity is dropping WLPro is because it doesn't work with 2-factor authentication (2FA). And that is an issue, but what they should do is have a separate, limited-access login (different password) for WLPro that only grants a data feed and maybe trading rights (which doesn't require 2FA).

Let's quit speculating about 2FA. If my Aesopian speak wasn't clear enough, let's put the real reason in a blunt way: it's high maintenance costs (including but not limited to the data) for a rather small (for them) user base.

according to Fidelity, it is free of charge to use it until to the end of 2020, Do I still need to pay $150 maintenance fee now ? or I will be refunded if I decide to use other tools. thanks

I believe this question was answered in post #2. You have to pay the fee to use WLD through Feb 2022 (if you transition today). This way there's indeed 6 months of free usage (from July until the end of 2020) plus the paid year. It's not possible to use for free without the one-year maintenance payment. Purchases are final, no refunds.

Note!
As stated in the letter you should have received after registering for the transition, this is a time-limited offer ending after 31 August, 2020 for Fidelity customers. After that date, the normal license purchase applies.