Fidelity Go / Robo-Advisor & Automated Portfolio Management

Fidelity Go review quick take: A managed investment account with low fees for investors who want a hands-off approach.

What is Fidelity Go?

Fidelity Go is a robo-advisory service offered by Fidelity Investments, providing automated investment management to help you achieve your financial goals. It combines the expertise of Fidelity’s investment professionals with the convenience of digital portfolio management.

The accounts available are:

• Individual
• Joint
• Retirement accounts: Traditional, Roth, Rollover IRA
• Health Savings Accounts: Fidelity Go HSAs

Strategic Advisers LLC, a registered investment adviser, provides discretionary portfolio management services. Brokerage services are offered by Fidelity Brokerage Services LLC, Member NYSE and SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).

How Fidelity Go Works

Fidelity Go works by first understanding your financial goals, risk tolerance, and investment preferences through a questionnaire. Based on your responses, it suggests an investment strategy and automatically manages your portfolio, including rebalancing and monitoring. This is how it works:

• Answer a few questions and get a strategy to meet your needs.
• Portfolios are built from Fidelity Flex mutual funds, covering four asset classes (domestic, foreign, bonds, and short-term).
• Your portfolio is managed by humans from Strategic Advisors, a Fidelity company. They handle the day-to-day investments and trading decisions.
• For balances over $25,000, it offers personalized advice, including unlimited 30-minute 1-on-1 phone calls and financial coaching on budgeting, managing debt, retirement planning, and more.

Key Features

• Low Minimum Investment: No minimum to open an account, with $10 to start investing.
• Automated Management: Hands-off investment with automatic rebalancing and monitoring.
• Fidelity Flex Funds: Investments primarily in zero-expense ratio Fidelity Flex mutual funds.
• Diversification: Investments are generally diversified with four asset classes for balanced risk and return.
• Access to Advisors: Personalized financial coaching for accounts with $25,000 or more.

Fees

• Management Fee: No advisory fee for balances under $25,000 and 0.35% advisory fee for balances of $25,000+.

There are no trading or transaction fees, but other fees may apply.

Pros and Cons

Pros

• Low minimum investment at $10
• No advisory fees under $25,000
• Access to advisors for higher balance accounts
• Integration with other Fidelity accounts

Cons

• Investors cannot choose individual securities
• No tax-loss harvesting

Who is it best for?

Fidelity Go is best for investors who prefer a hands-off approach to investing and want professional management without high fees.

Fidelity Go Review

Fidelity Go is a legitimate service. It’s a solid robo-advisory platform with competitive pricing and a strong emphasis on professional management. Its tiered fee structure makes it affordable for smaller accounts while providing additional benefits for larger accounts. The use of Fidelity Flex funds ensures low-cost investments and the availability of financial coaching for higher balance accounts adds value.

In researching Fidelity Go reviews, we found that the company has a 4.8 out of 5-star rating in the App Store with over 4 million reviews. However, it receives a poor rating of 1.4 out of 5 stars from about 500 reviews on Trustpilot, with most sharing customer service issues.

Fidelity Go Review Conclusion: It’s suitable for beginners and those with modest investment amounts, as well as for more experienced investors who appreciate the convenience of automated management and access to personalized advice.

How to Start Using Fidelity Go

Minimum Requirements

• Must be at least 18 years old
• Verifiable personal information
• Social security number

Step-by-Step to Open an Fidelity Go Account

The time needed: 3 minutes.

1. Getting started
   • Download the app or visit the website.
   • Submit your personal information, such as name, email, and password.
2. Select Core Portfolios
   • Share your investment goals and wait for a portfolio recommendation.
3. Fund your account
   • Start with $10.

Fidelity Go Alternatives

Robo Portfolios alternatives include Betterment, Wealthfront, E-Trade Core Portfolios, and SoFi Automated Investing.

Find more robo-advisors in the marketplace.