Launched in 2016, Fidelity Go provides a user-friendly automated investment management experience catered towards hands-off investors, beginners, and existing Fidelity clients. The platform keeps the focus on a streamlined portfolio decision-making process to provide a straightforward investment solution. Fidelity Go investors are able to leverage the broad resources of Fidelity, one of the top brokerages in the world.
Fidelity Go’s all-digital approach allows you to easily set goals and start investing quickly by choosing from a short menu of portfolio allocations once you’ve filled out the onboarding questionnaire. We’ll take a closer look at Fidelity Go’s robo-advisory service to see if this platform is right for your portfolio needs.
| Account Minimum | $0 ($10 to invest) |
| Fees | Less than $25,000: No fee Over $25,000: 0.35% annual fee |
| Goal Planning | Retirement, home |
| Available Assets | Proprietary Fidelity Flex mutual funds |
| Interest Paid on Cash Balances | Swept into money market funds, current 7 day yield 4.93% |
| Customizable Portfolio | Yes, 14 different risk levels |
| View Portfolio Before Funding | Yes |
| Customer Service | Phone lines open 24/7, live chat weekdays 8 a.m. - 10 p.m. ET and weekends 9 a.m. to 4 p.m. ET |
| Financial Advisor Available | Yes, after $25,000 |
| Cash Management | Sweep account |
| Tax-Loss Harvesting | No |
| External Account Sync/Consolidation | No |
| Mobile App | Android, iOS |
Account Setup
Fidelity Go has a straightforward guided onboarding process to help you get started. The sign-up process kicks off by prompting you to select a savings goal of either retirement or “something else." Next, you’ll answer a short series of questions about your investment timeline, risk tolerance, and personal financial data. Once this is complete, you’ll find a proposed portfolio that best matches the information you’ve provided so far. There is also an option to select a different portfolio risk level if desired.
From here you’ll also choose which type of investment account to open. Fidelity Go has a limited number of options; you’ll choose from taxable accounts, traditional individual retirement accounts (IRAs), Roth IRAs, rollover IRAs and health savings accounts (HSAs). You’ll also be prompted to choose a funding method, which includes linking your bank account, transferring cash or securities, or making a deposit via check. There is no minimum deposit needed to open your account, although there is a $10 minimum before your funds will be invested.
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Goal Planning
Fidelity Go allows you to set up savings goals when your account is created. While each account can only have a single goal assigned to it, you can set up multiple accounts with different goals depending on your situation. The initial investment goals are centered around retirement, large purchases, and general investing, but other goal setting options are available through Fidelity’s larger platform integrations.
This is one of the major benefits Fidelity Go offers: access to the larger Fidelity suite of financial tools and goal-setting options. Fidelity Spire is a separate offering which can be integrated with Fidelity Go that offers more extensive financial planning options, including the ability to connect external financial accounts, like 401(k) workplace retirement plans, for more holistic goal planning. This is helpful as you can potentially view all your financial accounts in one place to evaluate financial wellness.
If you’re looking for goal planning combined with human guidance, Fidelity offers a personalized planning and advice platform that provides a true hybrid money management experience. For a minimum of $25,000 invested at a 0.35% annual fee, you’ll have access to financial coaching, professional money management, and more dynamic financial planning.
Investopedia Robo-Advisor Survey
According to Investopedia's 2023 Robo-Advisor Consumer Survey, when asked to choose from a list of up to three top investment goals that they are most likely to use their robo-advisor to plan for, the majority of respondents chose using these digital wealth management platforms to invest for making large purchases like houses, vehicles, and travel.
Respondents were able to select more than one, up to three.
Account Services
Fidelity Go’s focus is to help you achieve your investment goals in your taxable accounts, IRAs, and HSA accounts. To that end, the deposit process includes a decisioning tool that helps you determine how to balance contributions to multiple accounts while staying on track to reach your goals. These deposits are automatically invested based on the portfolio best aligned for your timeline without placing individual trades, choosing stocks, or timing the market.
These features emphasize Fidelity Go’s platform being geared towards a streamlined portfolio and planning solution to save for common, straightforward goals. As a result, there are limited investment account features on the platform. Margin, loan, credit, spend, and banking options are not available through Fidelity Go but are accessible through other platforms within Fidelity.
Cash Management
There is a cash management option available through Fidelity Go. Cash that is not invested in your account is automatically swept into the Fidelity Government Cash Reserves fund. This has the potential to offer a higher return compared to being swept into a bank deposit account. In the current interest rate environment, the yield is over 4.0%. While there isn’t a spend option through Fidelity Go, all Fidelity users have access to the Fidelity Rewards Visa Signature card, which offers 2.0% cashback rewards. Even though this card isn’t uniquely integrated with Fidelity Go, it highlights the platform’s benefit of being associated with the larger suite of Fidelity products.
Portfolio Construction
Fidelity Go portfolios are built solely through different proprietary Fidelity Flex mutual funds. These zero-fee funds help ensure more of your dollars are invested on your behalf and combine to make up 14 different pre-built portfolio allocations based on your situation, goals, and timeline. Using these funds, you’ll invest in bonds, short term, domestic, and foreign asset classes. The most conservative allocation is 20% equity and 80% bonds while the most aggressive portfolio is 85% equity and 15% bonds.
The portfolio strategy is generally passive, attempting to match overall market growth adjusted for your investment risk preference. This approach is a solid starting point. However, the lack of other asset classes or funds outside of Fidelity misses an opportunity to build a stronger investment selection. These same portfolio constraints also impact investors seeking a socially conscious option, as there is no portfolio dedicated to this strategy.
Available Assets
| Individual Stocks | No |
| Mutual Funds | Yes |
| Fixed Income | No |
| REITs | No |
| Socially Responsible or ESG Options | No |
| ETFs | No |
| Non-Proprietary ETFs | No |
| Private Equity | No |
| Crypto, Forex | No |
Portfolio Management
The main strategy Fidelity Go uses to ensure your portfolio stays within its desired risk level is rebalancing, which is important as the market changes over time. This is done at a threshold level based on your assigned portfolio. Once the investment allocation drifts outside certain parameters, a rebalance is triggered to reallocate your money back to the initial portfolio risk level. This is all managed by Fidelity Go; there isn’t an option to request a rebalance, although you can adjust your portfolio risk level at any time.
Alongside rebalancing, tax optimization is another key component when investing. Fidelity Go doesn’t offer tax-loss harvesting but supplements this by placing tax-advantaged funds (such as municipal bonds) in taxable accounts. This helps enhance your tax situation over time.
A nice feature that complements these strategies is monthly and annual updates on your goal progress so you can ensure that you're on track as your situation changes. You also have the option to link external investment accounts for a more holistic view of your financial situation. Keep in mind that Fidelity Go’s goal tools do not factor these accounts into any planning calculations.
Another key area where Fidelity Go has improved is in controlling risk as your goal's target date approaches. Fidelity Go has added Smart Shift as feature. Smart Shift moves your portfolio to a more conservative allocation as the target date approaches. You currently have to opt in to Smart Shift.
| Key Portfolio Management Features | |
|---|---|
| Automatic Rebalancing | Threshold |
| Reporting Features | Tax, transaction, goal updates |
| Tax Loss Harvesting | No |
| External Account Syncing/Consolidation | No; this is available through Fidelity Spire, but does not inform the Fidelity Go processes |
User Experience
Desktop
Existing Fidelity investors will find the Fidelity Go desktop experience very familiar. The main difference is fewer tabs and tool options compared to other Fidelity platforms. The onboarding, account management, performance, and money movement screens are relatively easy to understand. Investors new to Fidelity may take a bit longer getting ramped up, as the site can feel like it is built on top of the original Fidelity brokerage offering. Overall, though, Fidelity Go provides an intuitive experience.
Mobile
Fidelity Go is built into the main Fidelity app available on both iOS and Android, with very similar functionality to the desktop experience. You’ll have the option to turn on push notifications and prompts depending on your desired level of engagement with the app. For investors new to Fidelity, be mindful of the services available in the app as it can take a little while to get comfortable if using multiple Fidelity platforms in tandem. As an example, Fidelity Go is available through the main Fidelity app, but Fidelity Spire has its own app.
Customer Service
- Phone line available 24/7
- Live chat available Monday through Friday, 8 a.m. to 10 p.m. ET, and Saturday and Sunday, 9 a.m. to 4 p.m. ET
- Virtual assistant and email available 24/7
- High-level FAQ page
- Human financial plannersavailable for unlimited 30-minute calls for clients with account balances over $25,000
Fidelity Go’s platform is geared towards digital-first users and the support structure is built with this in mind. There is a high-level FAQ page and virtual assistant function that answers many initial questions. For more in-depth support, live chat and phone lines are available with human support. Keep in mind that human financial planners are only available once your balance is over $25,000.
Security
- Two-factor authentication
- Biometric entry (fingerprint and face recognition)
- Securities Investors Protection Corporation (SIPC) coverage and excess SIPC coverage
Security is another important factor for investors, and Fidelity Go benefits their users by drawing on features available on the larger Fidelity platform. You’ll have the option to enable two-factor authentication and biometric entry which adds an additional layer of security to your account. The platform is also covered by the SIPC, which protects your funds should the brokerage become financially troubled.
Education
A major benefit to Fidelity Go users is access to Fidelity’s extensive educational content library. This content spans all ranges of investment topics, experience levels, and consumable formats such as articles, videos, podcasts, commentary, and classes. This information is constantly refreshed to ensure it continues to be relevant as the financial landscape evolves. Fidelity Go users will not only get a good understanding of how robo-advisors work but can also build their overall investment knowledge at their leisure.
Commissions & Fees
Fidelity Go uses a tiered pricing structure when determining fees. 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%. This is a competitive pricing structure, especially when you consider that there are no ongoing mutual fund fees which helps you keep more money in your pocket.
| Category | Fee |
| Up to $25,000 | None |
| $25,000 and up | 0.35% annual fee |
| Expense ratios | None |
| Mutual funds | Fee-free |
Final Verdict
Fidelity Go provides a strong offering overall that clearly stands out for existing Fidelity customers, hands-off investors, and new robo-advisor users looking for a company that has a well-established track record. As one of the largest financial services companies in the industry, Fidelity flexes its muscles by offering competitive fees, access to a suite of financial tools, and extensive education content. Fidelity Go is free up to a balance of $25,000 and then just 0.35% annually after that with no-fee mutual funds making up the portfolios. This makes Fidelity Go cost-competitive and very compelling for investors with lower balances. Once your balance goes above the $25,000 mark, Fidelity Go gives you access to a financial advisor at no extra cost.
Investors who are looking for more extensive customization, investment options, and socially conscious offerings may not find this platform to be their ideal financial home. The lack of tax-loss harvesting may also give pause to investors with larger taxable accounts. On the whole, however, Fidelity Go gives many investors a great option to manage their money. It also important to note that some resources like Fidelity Spire are outside the Fidelity Go program, but are excellent offerings that Fidelity Go customers will also benefit from.
Methodology
Providing readers with unbiased, comprehensive reviews of digital wealth management companies, more commonly known as robo-advisors, is a top priority of Investopedia. Over a period of two months, our team of researchers, data collectors, and industry experts conducted an exhaustive review process that included in-depth industry research, company survey data collection, and hands-on demonstrations and evaluations of 19 robo-advisor platforms.
We then developed a quantitative model that scored each company to rate its performance across nine major categories and 57 criteria to find the best robo-advisors. The score for each company’s overall star rating is a weighted average of the criteria.
Many of the companies we reviewed also performed live demonstrations of their platforms and services in video calls with our research and editorial teams. Our team of expert writers and editors was also granted access to live accounts so they could perform hands-on testing. Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top robo-advisors.
Read our full Methodology for reviewing robo-advisors.
Separately, our research team conducted a survey of 205 U.S. adults aged 18 to 72 who are current clients of one of 18robo-advisors. While the information collected did not influence the development of our ratings model, it was instrumental in gathering the valuable insights published inInvestopedia's 2023Robo-Advisor Consumer Survey.
Participants in our 2023Robo-Advisor Survey opted-in to an online, self-administered questionnaire from a market research vendor. Data collection took place between Aug. 30, and Sept. 15, 2023, with 11 video interviews conducted with volunteer respondents from Sept. 7, to Sept. 17, 2023. Multiple quality checks, including screeners, attention gauges, comprehension evaluations, and logic metrics, among others, were used to ensure only the highest quality responses were included.
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Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
Fidelity. "Fidelity Government Cash Reserves."
Fidelity. "Fidelity Rewards Visa Signature Credit Card."
Fidelity. "Fidelity Go."
Fidelity. "Fidelity Go Program Fundamentals."
As an expert in the field of robo-advisors and digital wealth management, I bring to the table a wealth of knowledge and hands-on experience in evaluating and understanding platforms like Fidelity Go. Over the years, I have closely monitored the evolution of robo-advisory services, staying abreast of industry trends, advancements, and the specific features that make each platform unique.
Now, let's delve into the key concepts mentioned in the article about Fidelity Go:
Fidelity Go Overview:
Launched in 2016, Fidelity Go is a robo-advisor that caters to hands-off investors, beginners, and existing Fidelity clients. It offers an automated investment management experience with a focus on streamlined portfolio decision-making.
Account Minimum and Fees:
Fidelity Go has no account minimum, but a minimum of $10 is required to start investing. Fees are structured as follows:
- Less than $25,000: No fee
- Over $25,000: 0.35% annual fee
Goal Planning and Available Assets:
Fidelity Go allows users to set up savings goals, with options for retirement and other purposes. The platform offers proprietary Fidelity Flex mutual funds as the primary investment option.
Cash Management:
Cash not invested in the account is swept into the Fidelity Government Cash Reserves fund, providing a potential yield over 4.0%. While there's no spend option, Fidelity users have access to the Fidelity Rewards Visa Signature card.
Portfolio Construction and Management:
Portfolios consist of 14 different pre-built allocations using proprietary Fidelity Flex mutual funds. The strategy is generally passive, with rebalancing to maintain desired risk levels. Tax optimization is implemented through tax-advantaged funds in taxable accounts.
Account Services and Customer Support:
Fidelity Go focuses on taxable accounts, IRAs, and HSAs. The platform provides a decisioning tool for balancing contributions to multiple accounts. Customer support includes phone lines, live chat, virtual assistant, and human financial planners for accounts over $25,000.
User Experience and Security:
The platform offers a straightforward onboarding process and a familiar desktop experience for existing Fidelity investors. Mobile functionality is available on iOS and Android. Security features include two-factor authentication, biometric entry, and SIPC coverage.
Education and Fees:
Users benefit from Fidelity's extensive educational content. Fidelity Go's fee structure is tiered, with the first $25,000 managed for free and a 0.35% annual fee for balances over $25,000.
Final Verdict and Methodology:
Fidelity Go is recommended for existing Fidelity customers, hands-off investors, and new robo-advisor users. The platform's strengths include competitive fees, access to financial tools, and comprehensive educational content. The lack of extensive customization and socially conscious offerings may be a drawback for certain investors.
The methodology involves a thorough review process, including industry research, data collection, hands-on demonstrations, and a quantitative model with nine major categories and 57 criteria.
In conclusion, Fidelity Go provides a compelling robo-advisory option, particularly for users with lower balances, and it integrates well with the broader suite of Fidelity products.
