Fidelity Go Review 2024: Features & Alternatives

Fidelity Go, launched in 2016, is a user-friendly automated investment management platform aimed at hands-off investors, newcomers, and existing Fidelity clients.

It is Fidelity Investments’ Robo-advisor solution, including portfolio management and frequent rebalancing among its primary features. Fidelity Go employs fee-free Fidelity funds in the portfolios it creates, so you won’t be worried about your profits being harmed by high fees. You’ll also get direct exposure to Fidelity’s extensive training materials and top-notch customer service. This is a terrific option for new investors or those who already have a Fidelity account.

We’ll look into Fidelity Go’s Robo-advisory service to determine if it’s suitable for your portfolio

Is Fidelity Go Safe?

Another essential consideration for investors is security. Fidelity Go members benefit from the features provided on the main Fidelity platform. In addition, you’ll be able to add an extra degree of security to your account by enabling two-factor authentication and biometric access. The platform is also protected by the SIPC (Securities Investors Protection Corporation), which safeguards your cash if the brokerage goes bankrupt.

Offering of Investments

Fidelity’s platform is known for its financial planning tools and educational offerings, which the customers have full access to. In addition, Fidelity Go is compatible with the rest of Fidelity’s platform, which is helpful if you have other Fidelity accounts.

User interface and account setup

With the Fidelity Go account, getting started is easy. The business can design an appropriate investment strategy by asking you a few questions about your age, risk tolerance, financial goals, and other factors. Also, keep in mind that you aren’t committed to a specific investing plan indefinitely. You may modify your strategy at any moment with Fidelity.

Investing options

In its Fidelity Go portfolios, Fidelity utilizes a mix of Fidelity Flex mutual funds. According to Fidelity, these funds are made up of local and overseas equities, bonds, and other short-term assets.

The expense ratio charge structure is used by most mutual funds to take an annual fee from your holdings. On the other hand, these Fidelity flex funds have no expense ratios. This means you won’t have to worry about any yearly fund fees aside from the account management fee (if necessary).

Investment management that is automated

Fidelity Go is perfect for passive investors who don’t want to trade stocks or try to time the market. This account is entirely automated, which means that Fidelity Go maintains your portfolio and investment transactions on your behalf.

Furthermore, Fidelity does not limit the number of accounts you may open as earlier stated. This might be beneficial for investors who want to use self-directed brokerage accounts, automated accounts, and other types of accounts simultaneously.

Fidelity Go Trading Platforms

Fidelity is the automated Robo adviser from Fidelity Investments. It creates customized portfolios using computer algorithms, which hold zero account minimum. Fidelity Go, an investing app, was introduced in 2016 to see to the needs of investors who like their investments handled for them. Other automated advisers like SoFi, and Vanguard Digital Advisor compete with Fidelity Go, which uses a mix of mutual funds. On the other hand, it does not rely solely on automated technology; FIdelity also employs a staff of investing specialists to manage the account’s daily trading choices.

Fidelity Go Quick Overview

4.5 stars

Best Overall Value

• For account balances under $10,000, no annual management fee
• No minimum balance requirement
• Portfolios have a no-fee Fidelity Flex funds

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Commissions & Fees

Fidelity is not necessarily difficult to use for beginning investors with small balances. Accounts below $10,000 have no annual management fee and can invest in Fidelity Flex mutual funds with no expense ratio fees. However, after your account balance reaches $10,000, you’ll be charged a $3 monthly administration fee. When your account balance exceeds $50,000, you must pay a 0.35 percent yearly management fee. For consumers with larger portfolios, Schwab Intelligent Advisors, Betterment, and Wealthfront, among other options, offer lower annual costs.

Fidelity Flex’s six proprietary mutual funds have no cost ratios. This contrasts with standard Robo-advisor ETF portfolios, which generally carry management fees ranging from 0.05 percent to 0.18 percent for some foreign funds. In addition, charge-free funds boost your overall returns over time since research shows that reduced fee index funds have better long-term gains.

Fidelity Go Customer Reviews

This company is the best I’m proud of been a member of this platform I got my profit directly to my wallet I was so shocked when I saw my profit successful I will Keep investing here

Thomas

I have been trading stocks with Fidelity in both brokerage and retirement account for I believe 30+ years. I LOVE the fact that if I have a question at 10PM, I can call and get a knowledgeable trader to answer my question to to find the answer for me. So, I have never had any real problems with any of their people and they have always been courteous, extremely helpful and most important, in the U.S. and with excellent speech and diction. I highly recommend them

David Getoff

I’ve been using Fidelity since Q1 2021. They are a great company, especially for retail investors. I have my current 401k with them, my IRA rollover, a traditional and checking account with them. Also, if you are an active trader, their free to use Active Trader Pro is a fantastic desktop application. They also have GREAT customer service.

JB Styles

Is Fidelity Go Right For You?

Suppose you’ve been considering trying out a Robo-advisor but prefer the security of a well-known broker. In that case, Fidelity Go offers a lot. The costs are reasonable, and the portfolios are well-diversified and overseen by people. Compared to other broker-owned online advisers, there is also a minimum taxable account to assist you in getting started. On the other hand, investors in taxable accounts will miss out on other Robo-advisors’ tax-loss harvesting. Although municipal bonds in taxable accounts might help you save money on taxes.

Trust Score

The feedback on Fidelity is divided. Although the Better Business Bureau (BBB) and Trustpilot ratings are mostly unfavorable, investors enjoy the mobile app, and Redditors praise the platform. However, it’s also worth noting that Fidelity Go feedback is difficult to come by. The majority of the comments we collected were on Fidelity as a whole.

Commissions & Fees

There are no commissions charged by Fidelity Go on any of their trades. Based on your account balance, it will only charge the advisory fee:

• None under $10,000
• A flat monthly fee of $3.00 from $10,000 to $49,999
• 0.35% for $50,000 or more

Aside from that, there aren’t any hidden costs. Expense ratios are typically demanded of investors for the underlying securities in their portfolios. There are none since this Robo-advisor employs fee-free Fidelity Flex funds.

Ease of Use

The Fidelity Go platform makes getting started a breeze. First, Fidelity will ask you questions to assess your risk tolerance and appropriate asset allocation. You may also take the quiz and look at a sample portfolio without submitting an application. Then, you can accept the suggested allocation or change it to suit your needs. After that, you just fund your account, and Fidelity takes care of the rest.

Platforms & Tools

Fidelity’s ActiveTraderPro platform, cheap margin costs, and superficial learning curve make it an excellent starting point for day traders. While monitoring news, social mood, and regulatory activities, you may totally configure the platform to bring your favorite tools and indicators to the forefront.

Like other online brokers, Fidelity has eliminated commissions on all stock and ETF trades executed through its platform. Moreover, the cost ratios of several of the firm’s sponsored mutual funds and ETFs have been reduced to near-zero levels.

On the other hand, day traders aren’t just interested in equities and ETFs. Transactions in options will cost 65 cents per contract, and international trades will be subject to additional foreign fees. So check the expenses of your deal before performing it. No commission fee doesn’t necessarily imply entirely free.

Customer service

Clients of a Robo-advisor may require two types of assistance: investment advice from a human being and technical assistance. Unfortunately, financial advisors are not available through Fidelity Go. Some rivals allow Robo-advisory clients to talk with financial advisors who can help with house purchases to retirement income schemes. Fidelity is a real Robo-advisor, meaning it doesn’t require human contact. On the other hand, Fidelity Go excels in client service. On weekdays, the organization offers online chat from 8 a.m. to 6 p.m., and phone assistance is accessible 24 hours a day.

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What Type of Broker is Fidelity Go?

The Robo-advisor from online brokerage Fidelity Investments, Fidelity Go offers a unique pricing approach. Fidelity Go has no fees for accounts under $10,000 and a fixed monthly cost of $3 for balances of $10,000 to $49,999.

How to Make Money With Fidelity Go?

You begin by giving them a little about yourself: your birth year, your household income, why you’re investing, how much you want to invest, when you’ll need the money you’re investing, and your risk tolerance for your account. Once you’ve done that, Fidelity Go will recommend an investment strategy that includes accounts that hold stocks, bonds, and short-term assets, depending on what they believe is best for you and your objectives. You may then look at other investment methods, accept their recommendation, or provide more information to let them propose an investment strategy that is more tailored to your personal financial position. Then you go online and create an account.

After your money has been invested, your initial investment mix may deviate from your chosen approach. When this happens, they either rebalance your account or acquire certain assets while selling others to restore the previous mix. While all Fidelity Go portfolios are constantly reviewed, they may rebalance if markets move dramatically in either direction and your portfolio deviates significantly from the investment plan.

Is Fidelity Go Good For Beginners?

Due to its low account minimums and some of the lowest fees in the industry, Fidelity Go is an excellent choice for beginners. However, hands-off investors may like Fidelity Go as well.

Conclusion

Fidelity Go has a great overall product that will appeal to existing Fidelity clients and prospective Robo-advisor users seeking a provider with a proven track record. In addition, Fidelity flexes its muscles as one of the industry’s leading financial services organizations by delivering affordable prices, access to a spectrum of financial tools, and comprehensive educational content.

Frequently Asked Questions (FAQs)