Robo-Advisory: Fidelity's Automated Investing Services Explored

Fidelity Go is a robo-advisor service offered by Fidelity Investments. It is a digital financial service that makes investing quick, easy, and affordable. It uses technology to automate investing based on an investor's financial situation and risk tolerance. Fidelity Go offers a tiered pricing system with no advisory fee for balances under $25,000 and a 0.35% annual fee for balances of $25,000 or more. The service also provides access to unlimited financial coaching sessions with trained advisors for balances of $25,000 or more.

Fidelity Go: Fidelity's robo advisor service

Fidelity Go is a robo-advisor service that makes investing quick, easy, and affordable. It is a digital financial service that automates investing based on information provided by the investor about themselves and their financial situation.

Fidelity Go starts by asking you a few questions about your financial goals, risk tolerance, and personal financial data. It then suggests an investment strategy and builds a portfolio to meet your needs. You can choose from a menu of portfolio allocations and set up savings goals. You can also link external investment accounts for a more holistic view of your financial situation.

Fees and pricing

Fidelity Go offers a tiered pricing system based on your account balance. There is no advisory fee for balances under $25,000, and a 0.35% annual fee for balances of $25,000 and above. There are no trading fees, transaction fees, or rebalancing fees.

Investment options

Fidelity Go portfolios are built from Fidelity Flex mutual funds, which cover four asset classes: domestic, foreign, bonds, and short-term. The most conservative allocation is 20% equity and 80% bonds, while the most aggressive portfolio is 100% equity.

Benefits

Fidelity Go offers 24/7 customer support, including phone lines, live chat, virtual assistant, and email. It also provides access to extensive educational content and resources. The platform is integrated with other Fidelity accounts, allowing seamless interaction for existing Fidelity customers.

Limitations

Fidelity Go does not offer tax-loss harvesting, and there are no specialty portfolio or socially responsible investing options. The platform only offers proprietary mutual funds, and human advisors are limited to accounts over $25,000.

How does Fidelity Go work?

Fidelity Go is a robo-advisor service that uses technology to manage investments on your behalf. It is a digital financial service that makes investing quick, easy, and affordable.

To get started with Fidelity Go, you need to answer a few questions online about yourself and your individual financial goals. This information includes your current financial situation, your goals, and your tolerance for investment risk. Fidelity Go then uses this information to suggest an investment strategy and build a strategy to meet your needs. Once your account is open, you can add money to it. There is no minimum amount required to open a Fidelity Go account, but to start investing, your account balance must be at least $10.

Fidelity Go offers tiered pricing based on your account balance. There is no advisory fee for balances under $25,000, and a 0.35% annual fee for balances of $25,000 and over. There are no trading fees, transaction fees, or rebalancing fees.

Fidelity Go handles all the day-to-day investing decisions for your account. This includes suggesting an initial investment strategy or mix of stocks and bonds based on your financial goals, time horizon, and comfort with risk. They buy and sell investments in your account to maintain the investment strategy you've chosen and keep you informed about how your investments are doing. They also offer financial coaching sessions with trained advisors once your account reaches $25,000.

Fidelity Go also provides annual reviews to check in with you and see if anything major in your life has changed. If necessary, they will adjust your investment strategy to fit your new situation. They also offer the option to convert an existing Fidelity brokerage or retirement account to a Fidelity Go account.

In addition to investment management, Fidelity Go provides access to a range of financial tools and goal-setting options through the larger Fidelity platform. This includes the Full View tool, which allows you to connect external financial accounts and view all your financial accounts in one place.

Fidelity Go is built into the main Fidelity app, which is available on both iOS and Android. The app provides a similar functionality to the desktop experience and offers push notifications and prompts to engage with the app.

Overall, Fidelity Go is a user-friendly, automated investment management platform that is well-suited for hands-off investors, beginners, and existing Fidelity clients. It offers a streamlined portfolio decision-making process and provides access to Fidelity's broad resources as one of the top brokerages in the world.

Fidelity Go fees

Fidelity Go, the company's robo advisor, offers a tiered pricing system based on your account balance.

For balances under $25,000, there is no advisory fee. For balances of $25,000 and above, there is a flat fee of 0.35% per year charged on the entire balance, not just the amount over $25,000. This fee includes unlimited 1-on-1 coaching calls with Fidelity advisors.

There are no trading, transaction, or rebalancing fees. Accounts invest in zero expense ratio Fidelity mutual funds that do not charge management fees, with limited exceptions for fund expenses.

Fidelity Go also offers annual reviews, where they check in with you to ask if anything major in your life has changed, and adjust your investment strategy if necessary.

Additionally, there is no minimum amount required to open a Fidelity Go account. However, to start investing, your account balance must be at least $10.

Fidelity Go's portfolio selection

Fidelity Go is a robo-advisor that offers a digital financial service to make investing quick, easy, and affordable. It is best suited for investors who are reluctant to hand off all control to a robot and prefer an established broker.

Fidelity Go offers 16 portfolios to choose from, with eight taxable portfolios and eight retirement portfolios available. These portfolios are built from Fidelity Flex mutual funds, which cover four asset classes: domestic, foreign, bonds, and short-term. The mutual funds in each portfolio vary based on your financial goals.

Fidelity Go's most conservative investment strategy targets 20% stocks and 80% bonds and short-term investments, while its most aggressive strategy targets 100% stocks. The platform does not offer specialty portfolios or socially responsible investment options.

Fidelity Go also provides an annual review to ensure that the chosen investment strategy aligns with the customer's goals and preferences.

Fidelity Go's customer support

Fidelity Go is a robo-advisor that offers 24/7 phone support, as well as live chat during extended business hours. It also offers 24/7 virtual assistants, email and social media support, and a Fidelity Investments subreddit where you can get answers to your questions.

Fidelity Go has live chat and phone support staffed by customer service representatives, who can answer account questions. Customers with a balance of $25,000 or more get access to Fidelity Go's advisors. Advisors coach customers by creating financial plans and outlining steps to reach goals.

Fidelity Go's robo-advisor, Fidelity Go®, offers hybrid robo advisory services for a fee of 0.35% a year for those with balances of $25,000 or more. There is no advisory fee for balances under $25,000.

Fidelity Go has a straightforward guided onboarding process to help new users get started. The sign-up process prompts you to select a savings goal, then answer a short series of questions about your investment timeline, risk tolerance, and personal financial data. Once this is complete, a proposed portfolio is suggested, based on your answers.

Fidelity Go allows you to set up savings goals when you create your account. While each account can only have a single goal assigned, you can set up multiple accounts with different goals. The initial investment goals are centred around retirement, large purchases, and general investing, but other goal-setting options are available through Fidelity’s larger platform integrations.

Fidelity Go also has in-platform challenges to help nudge users to achieve their goals faster. For example, there is a 52-week challenge where customers incrementally increase their contributions over a 52-week period to build momentum in their investment portfolio.

Fidelity Go investors can also fund their accounts with the 2% cash-back rewards earned from the Fidelity Rewards Visa Signature card.

Fidelity Go has a straightforward, tiered pricing structure. Your first $25,000 is managed without a fee and the Fidelity Flex funds also lack fees, making the service free for users with small balances. Accounts with more than $25,000 will be charged an annual fee of 0.35%.

Fidelity Go is free to open, with no minimum amount required to open an account. However, in order for Fidelity to invest your money according to the investment strategy you've chosen, your account balance must be at least $10.

Frequently asked questions