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Fidelity Go® has some of the lowest fees we've seen, yet still offers an attractive set of features -- plus, it's free for balances under $25,000.
Fidelity Go® could be a good fit for you if:
Fidelity Go®
Fidelity Go® provides a simple, easy-to-understand pricing structure with access to financial planning tools and educational resources.
No commission for balances up to $25,000; 0.35% per year for balances over $25,000
$0
We believe in comparing options before committing. Fidelity Go® might be right for you -- or it might not. Here are two robo-advisors we recommend highly for you to compare side by side with Fidelity Go® when deciding which robo-advisor is right for you:
Beginner, hands-off investors may be best for Fidelity Go® due to its low account minimums and some of the lowest fees we've seen. In this Fidelity Go® review, we'll take a close look at how the platform works, its features and drawbacks, and how to know if it's a good fit for you.
At The Motley Fool Ascent, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and account types; however, we also take into account features like research, education, tax-loss harvesting, and highly rated mobile apps. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.
See our full methodology here: Ratings Methodology
Fidelity Go® has a simple pricing structure that's free for balances under $25,000, and 0.35% each year for balances above $25,000.
It is incredibly easy to get started on the Fidelity Go® platform. Fidelity will ask you a short series of questions to determine your risk tolerance and ideal asset allocation. You can also try the questionnaire and see an example portfolio without actually applying. You can accept the recommended allocation or modify it to fit your preferences. Then you fund your account and Fidelity does the rest.
Virtually all robo-advisors offer automatic rebalancing. Many do it at set intervals, like twice a year. Fidelity Go® continually monitors your account, and rebalances your asset allocation whenever it's needed.
Fidelity Go® has no minimum investment requirement. You can start an account with just a few cents if you want. Fidelity will start investing your money with as little as $10 in your account, significantly lower than many of its competitors.
Fidelity Go® customer support is available by phone 24/7 or through live chat from 8 a.m.-6 p.m. EST, Monday through Friday.
Fidelity's platform is highly regarded for its financial planning tools and educational resources, and Fidelity Go® clients have full access to them. Fidelity Go® integrates with the rest of Fidelity's platform, which can be valuable if you have other accounts with the firm.
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Unlike some of its competitors, Fidelity doesn't offer tax-loss harvesting, a valuable strategy that can dramatically reduce investors' capital gains. This is most significant for investors who have large account balances or are otherwise in high tax brackets, but if you're in one of those categories and plan to invest in a standard brokerage account, this is worth taking into consideration.
Most major brokerages with robo-advisor platforms don't offer access to human financial advisors, and for investors with balances below $25,000, Fidelity Go® is no exception. Fidelity Go® does offer unlimited one-on-one coaching with a human advisor for customers with balances above $25,000, though.
Fidelity Go® offers the standard account types that pretty much every robo-advisor has, including standard brokerage accounts (individual or joint), and individual retirement accounts, or IRAs. If you want to open a specialized account type, such as a UGMA/UTMA account or solo 401(k), you can't do it through Fidelity Go®.
How Fidelity Go® works: For the most part, robo-advisors are very user-friendly, especially when it comes to getting started. After all, the whole point of using a robo-advisor is to make investing as easy as possible.
Fidelity Go® is one of the easiest robo-advisors to use. You answer a series of basic questions, such as your age, income, and financial goals, and Fidelity recommends an investment strategy. You can accept the initial recommendation or modify it. You fund the account and you're all done.
Fidelity Go® offers standard robo-advisor services such as automatic portfolio construction and automatic rebalancing (although it rebalances as needed, not at specified intervals like some competitors.
In addition, Fidelity Go® offers access to the full range of educational tools and financial planning resources offered with any Fidelity brokerage account, a nice value-adding differentiator. This isn't quite as valuable as getting financial advice from a human being -- which only kicks in at Fidelity Go® for balances above $25,000 -- but it's certainly a useful perk.
Fidelity Go® isn't the cheapest robo-advisor, but it has the easiest-to-understand cost structure of any of our favorites. Instead of charging a management fee and investing client assets in funds that have their own fees, Fidelity has a tiered-fee structure.
Balance | Fidelity Go® Cost |
---|---|
< $25,000 | Free |
$25,000+ | 0.35% per year |
There are two types of support that clients of a robo-advisor might need -- investment advice from a human being and help with technical issues.
Fidelity Go® provides unlimited access to financial advisors, but only for customers with balances above $25,000. However, Fidelity Go® shines when it comes to customer support. The firm provides phone support 24 hours a day and has online chat available 8a.m.-6 p.m. on weekdays.
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Visit vanguard.com to obtain a prospectus or, if available, a summary prospectus, for Vanguard and non-Vanguard funds offered through Vanguard Brokerage Services. The prospectus contains investment objectives, risks, charges, expenses, and other information; read and consider carefully before investing.
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Vanguard Digital Advisor is an all-digital service that targets an annual net advisory fee of 0.15% across your enrolled accounts, although your actual fee will vary depending on the specific holdings in each enrolled account. To reach this target, Vanguard Digital Advisor starts with a 0.20% annual gross advisory fee to manage Vanguard Brokerage Accounts. However, we'll credit you for the revenues that The Vanguard Group, Inc. ("VGI"), or its affiliates receive from the securities in your managed portfolio by Digital Advisor (i.e., at least that portion of the expense ratios of the Vanguard funds held in your portfolio that VGI or its affiliates receive). Your net advisory fee can also vary by enrolled account type. The combined annual cost of Vanguard Digital Advisor's annual net advisory fee plus the expense ratios charged by the Vanguard funds in your managed portfolio will be 0.20% for Vanguard Brokerage Accounts. For more information, please review "https://personal.vanguard.com/pdf/vanguard-digital-advice-brochure.pdf" Form CRS and the Vanguard Digital Advisor brochure.
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