Fidelity Go Review 2022 Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Investing Disclosure
Investing Disclosure
The investment information provided on this page is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal. Advertiser Disclosure Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Fidelity Go Fidelity Go review 2022
Bankrate reporter Brian Baker covers investing and retirement. He has previous experience as an industry analyst at an investment firm. Baker is passionate about helping people make sense of complicated financial topics so that they can plan for their financial futures. Updated November 9, 2022 Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. On This Page
Fidelity Go Best for
Beginning investors Cost-conscious investors Fidelity customers Fidelity Go is the robo-advisor offering from Fidelity Investments, offering users several core features such as portfolio management and regular rebalancing. Fidelity Go uses fee-free Fidelity funds in the portfolios it builds, so you won’t have to worry about returns being hit by excessive costs. You’ll also get Fidelity’s top-notch customer service and access to its many educational resources. It’s a great pick for new investors or those who already have a Fidelity account. If you’re looking for additional features like tax-loss harvesting or access to financial advisors, consider other robo-advisors such as Betterment, or Schwab Intelligent Portfolios. If cost is your main concern, check out . Fidelity Go In the details
4.5 Bankrate Score 4.5 Bankrate Score About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Account Minimum $0 to open; $10 to invest Management Fee $0-$10,000 -- Free; $10,000-$50,000 -- $3 per month; Above $50k: 0.35 percent Portfolio Mix 9 Fidelity Flex funds across 8 asset classes Fund Expense Ratio 0 percent Account Types Individual and joint taxable, plus Roth IRA, traditional IRA, and rollover IRA, HSA Cash Management Account Yes, through a Fidelity bank account, which offers: no account fees, debit card, ATM reimbursements, check-writing, billpay, ability to buy CDs, up to $1.25 million FDIC insurance. Customer service Phone 24/7; chat 8 a.m.- 6 p.m. ET; email Tax Strategy Municipal bond funds used in taxable accounts Rebalancing Free, but done by humans, not algorithms Tools Basic goal tracker, debt payoff, and dozens of Fidelity’s educational tools, planning guides and more Promotion None, though first $10,000 is managed for free Rates as of October 18, 2022 at 10:12 PM Pros Where Fidelity Go stands out
Low cost for beginners
Fidelity has a three-tiered pricing system, with fees that increase as your balance increases. The structure is somewhat unusual in this space and works as follows: If your account has $0 to $9,999, you’ll pay no fees at all. If your account has $10,000 to $49,999, you’ll pay a flat $3 per month. If your account has more than $50,000, you’ll pay 0.35 percent annually. This pricing structure may create some weird incentives for customers, even as it allows beginning investors with less than $10,000 to get started with no management fee. For example, if you bring $10,000 to your Fidelity Go account and you’re no longer receiving free benefits. Instead, you’re paying $36 a year for that balance, or about 0.36 percent annually. Contrast that with a balance of just below $50,000, where you’re still paying that $36 annually. It’s not a bad deal to have five times the money managed at the same flat rate. In fact, you’re being charged 0.072 percent of assets each year. But things shift as soon as you bring $50,000 to Fidelity, because then your fee jumps to 0.35 percent, basically becoming five times as expensive right at $50,000. And from there, of course, the fee remains proportional to your assets. (So you might have a perverse incentive to open up multiple accounts below that $50,000 threshold and avoid further incremental fees.) It’s also important to point out that Fidelity’s advisory fee includes the cost of the funds. So unlike at most other robo-advisors ( is a notable exception), you won’t pay an additional fee for the funds you invest in, regardless of your pricing tier. So while Fidelity’s headline rate of 0.35 percent looks higher than those offered by Wealthfront and , for example, on an “all-in” cost including funds, they’re all highly competitive. Low-cost mutual funds
Fidelity Go instead of ETFs, unlike most robo-advisors. That difference is somewhat academic, since Fidelity’s mutual funds offer low costs, one of the major appeals of ETFs. All the funds used in the program are Fidelity Flex funds and charge no expense ratio. That is, they don’t charge ongoing fees for holding them, unlike most ETFs and mutual funds. That’s a little advantage if you’re going with Fidelity, especially if you’re just starting out. At other robo-advisors your funds might typically cost you about 0.1 percent annually, or about $10 for every $10,000 you have invested. So that’s additional savings that gets rolled into your funds. Integrated with Fidelity
One positive of the Fidelity Go account is that it appears alongside , so you can quickly access all of it from your Fidelity dashboard. It will pull up your positions, projected value, your model portfolio and other relevant information. You can move quickly from one Fidelity account to another, and transfer money from a cash account to your brokerage accounts, Go account or others. This integration with Fidelity also means you’ll get access to its educational resources, including its retirement and planning tools, which are extensive. Cash management account
Fidelity offers a , though you’ll have to open it separately from the robo-advisor account. (And once your info is in the Fidelity system, account opening is a breeze anyway.) The cash management account charges no account fees and you’ll have FDIC coverage up to $1.25 million via Fidelity’s partner banks. You’ll also get mobile payments, billpay, debit card, check-writing and ATM fee reimbursements anywhere in the U.S. While the account doesn’t pay interest, you can to increase your yield. Customer support
Fidelity has an excellent reputation for customer service, and Fidelity Go is an extension of that same ethos. Like its other accounts, Fidelity won’t nickel-and-dime you for every little thing, and it charges no extra fees for the standard account services (no transfer-out fee, for example). You’ll also have access to Fidelity’s customer service staff 24 hours a day seven days a week by phone. Or you can reach out via live chat between 8 a.m. and 6 p.m ET. Email is also an option. Cons Where Fidelity Go could improve
Tax-loss harvesting
Fidelity Go doesn’t offer on its accounts, and that’s a liability compared to other well-regarded robo-advisors that have made it a standard feature. Tax-loss harvesting involves selling a losing investment to score a tax break, a process that can save you money and improve your returns over time. However, Fidelity does provide municipal bond funds in its taxable accounts in place of its regular bond allocations. That helps minimize the tax bite from these income investments. Still, it’s not the same as tax-loss harvesting and its potential benefits. Comprehensive goal-based investing
Unlike other robo-advisors that may offer goal-based investing with multiple potential goals, you have to pick one option with Fidelity Go. You can opt for a retirement goal or some other goal (which is assumed to be in a taxable account). However, you won’t have the comprehensive financial plan and multiple goals that are key features of robo-advisors such as Wealthfront. So Fidelity Go is fine for generalized investing, but it lacks this complete planning element that really rounds out the service and turns rivals into comprehensive financial planners. No human advisors
If you’re going with a robo-advisor portfolio, you probably don’t have a lot of expectations about receiving frequent human help with your account. Robo-advisors are designed to manage the portfolio with no (or minimal) human intervention – that’s the point. And that’s the case with Fidelity Go, where it’s not even an add-on option for the account. It’s not necessarily a negative on Fidelity’s service, though other rivals do offer human advice, albeit usually with a higher or additional fee. If that’s crucial to you, you could also decide to move to Fidelity’s Personalized Planning & Advice service, which provides portfolio management services as well. You’ll have to bring $25,000 to the relationship and the management fee rises to 0.5 percent of assets annually. Conflicts of interest
Let’s not harp on this too much, because Fidelity’s funds charge no expense ratio, making them free for investors. But it’s worth pointing out (as Bankrate has done in other reviews) that Fidelity has a conflict of interest in recommending its own funds. It’s also worth considering whether Fidelity’s management fee would be lower if it otherwise were charging fees for its funds. Review methodology
Bankrate evaluates brokers and robo-advisors on factors that matter to individual investors, including commissions, account fees, available securities, trading platforms, research and many more. After weighting these objective measures according to their importance, we then systematically score the brokers and robo-advisors and scale the data to ensure that you are seeing the top options among a field of high-quality companies. .