Fidelity Go is the robo-advisor arm of Boston-based Fidelity Investments. The programâ€™s claim to fame is a completely transparent pricing model. When you invest with Fidelity Go, you will pay a 0.35% all-in annual fee on your assets under management for both taxable and tax-advantaged accounts. That fee covers your advisory costs as well as (nearly all) investment expenses. Invested money is put into index funds (primarily those owned by Fidelity) to create portfolios that investment managers monitor and rebalance.
The target market for Fidelity Go is the young investor, which means there are relatively few account options available, but everything is set up for easy mobile use. There is no minimum amount for opening an account, and the minimum required to begin investing is only $10. Current Fidelity customers can easily integrate Fidelity Go with their existing accounts.
Fidelity Go is marketed toward young adults or other new investors who want to take a hands-off approach to their investing. The low price-point required for investing (you only need $10 in your account), the very user-friendly online and mobile interface, and the low investing costs make this a good choice for someone early in their investing journey.
|Account fees (annual, transfer, inactivity)||
|Tax loss harvesting|
|Offers fractional shares|
|Ease of use|
|Mobile app||iOS, Android, Fire OS|
|Customer support||Phone, 24/7 live support, Chat, Email, 196 branch locations|
As a part of the Fidelity family, Fidelity Go offers a secure experience for any investor. In addition to their two-factor authentication every time you log in to your account, they use encryption, security questions and answers, and have strong username and password requirements. Fidelity Go also invites customers to download an application for extra security for your log in.
Although Fidelity Go doesnâ€™t have its own review page with the Better Business Bureau, Fidelity Investments is not accredited and currently carries a C- rating. As with investments through other investment firms, all investments carry some form of risk as thereâ€™s no guarantee for a return on your funds.
For current Fidelity customers and young adults without much money to invest, Fidelity Go is a great robo-advisor option. The integration with other Fidelity accounts means that current customers can easily access the benefits of Fidelity Go, including transparent and low fees, day-to-day management by human investment professionals, automatic rebalancing, and easy-to-use technology. Those without a great deal of money to invest can enjoy all of those upsides while getting started with as little as $10. This can help new investors get started with investing without asking for a big minimum account deposit.
However, Fidelity Go is not the right choice for everyone. Investors who want access to accounts other than IRAs and taxable accounts will need to look elsewhere. Also, the lack of tax-loss harvesting can make taxable investing too expensive for some investors. Both Wealthfront and Betterment can offer investors more account choices and tax-loss harvesting.
Finally, Fidelity Go is not right for investors who want to have a more hands-on approach to their investments, as all day-to-day investment decisions are made by Fidelityâ€™s team of investment managers. Hands-on investors may be happier with Fidelityâ€™s self-directed brokerage, or with a competitor brokerage such as Ally Invest or TD Ameritrade.