Quick Answer
Direct-sold plans allow you to link your account and make payments directly through Backpack.
Advisor-managed plans require you to manually initiate withdrawals through your financial advisor or Fidelity. You can still use Backpack, but the linking process is different.
How to tell which type you have
Method 1: Check Your Fidelity Account Access
The easiest way to identify your plan type is to try logging in to the Fidelity Portal:
Direct-Sold Plan:
You can log in directly at fidelity.com with your Fidelity username and password
You have full online access to manage your account
Advisor-Managed Plan:
You may be able to log in to a separate institutional portal at accounts.fidelity.com/institutional/login
Your financial advisor may manage transactions and withdrawals on your behalf
You typically communicate with your advisor to make changes or withdrawals
Method 2: Check Your Account Number
Fidelity account numbers can also give you a clue:
Direct-sold accounts typically have account numbers that:
Start with prefix
3900001The first digit after this prefix is usually
6Example:
39000016123456
Advisor-managed accounts typically have account numbers that:
The first digit is NOT
6(often0,1,7, or other digits)Example:
7123456
Note: This is a helpful indicator, but not 100% definitive. Some older or newer accounts may use different formats.
Method 3: Review Your Account Statements or Documents
Your account statements or enrollment paperwork should indicate whether your plan is:
"Direct" or "Direct-Sold"
"Advisor" or "Advisor-Managed" or "Advisor-Sold"
What If I Selected the Wrong Plan Type?
Don't worry! You can update your plan selection at any time:
Go to Settings tab
Click "Edit" next to your student's details
Select the correct plan and update