Fidelity Go Review

Robo-advisors are the future of tech-led investment ventures, and the Robo-advisor Fidelity Go has become enormously popular among many US investors from all walks of life. Truthfully, Fidelity’s popularity began with its affordable, virtually zero-commission mutual funds and high-return indexes.

Today, its user-friendly investment platform has become widely popular. Many of them swear by its simplicity and accessibility, thanks to its low to zero minimum balance requirement.

If you’re looking for excellent Robo-advisors, then Fidelity Go might be your best bet. Read more about everything it can offer you in this in-depth Fidelity Go review.

For Clarity: What Type of Account is Fidelity Go?

Fidelity Go is an investment platform/Robo-advisor that acts as your investment manager, strategist, and financial planner. This financial technology will ask you about your investment preferences and then present a great number of investment strategies. It will recommend the best strategy for you using your answers to its questions.

Once you’ve decided, it makes all the effort to buy, sell, and manage your portfolio. You can view its overall investment progress through Fidelity’s dedicated website and application.

Most Robo-advisors use algorithms and complex machine-learning to adapt to certain situations. However, Fidelity has a human team of financial specialists who perform all adjustments and rebalancing fees accordingly. You can be sure it’s not a machine making big decisions for your money.

Why You Should Consider Using Fidelity Go

Any Fidelity investor of mutual funds should have a Fidelity Go account. Truthfully, anyone with an existing Fidelity account will find Fidelity Go an excellent companion investment to improve their existing portfolio regardless of the portfolio.

Fidelity Go is advisable for passive people who trust specialists but love the convenience of using Robo-advisors. Plus, it’s quickly accessible for anyone because of its $0 starting account management fee. As long as your account isn’t earning anything beyond $10,000, you don’t have to pay anything yet.

Shortcomings That Can Put Off Some Investor

Unfortunately, if you are an investor with a high-risk appetite, you’re better off investing and managing your index and stock-based portfolio on your own. Fidelity Go prioritizes Fidelity’s Flex mutual funds in its entire portfolio. While it’s a well-diversified portfolio (as you’ll see in your investment charts), it will comprise Flex mutual fund, decreasing the portfolio’s full earning potential.

Our Advice: Fidelity Go is Excellent for Low-Cost Investment

It takes $0 to start a Fidelity Go account, but you’ll need to pay $10 to start your investment portfolio. Additionally, if you’re new to investing and growing your money, you can entrust its growth to an excellent Robo-advisor. This platform helps you identify your risk appetite and investment behavior, and the adjustment and rebalancing human oversight team take note of your preferences. Lastly, you only start paying fees after your account has earned beyond $10,000 starting from scratch.

Editor’s Rating: 4/5

Fidelity Go isn’t exactly perfect. However, its shortcomings are offset by its user-friendly platform, human-based adjustments and rebalancing, zero starting fee, and a low-risk investment portfolio. It can and will work for most investors who want to see financial growth with adequate guarantees and financial safeguards that their investment is in good hands.

‘Too Long, Didn’t Read’ Summary

Fidelity’s Robo-advisor Fidelity Go takes accessibility and hybrid fund management to the next level. It’s perfect for a first-time investor who has $0 to start an account and $10 to begin investing. Your annual fees only start once the account starts earning beyond $10,000. Plus, you won’t need to worry about complete machine management because a human team works behind the scenes in adjusting and rebalancing your fund to your preferences.

Fidelity Go: A Helpful Snapshot of Everything in Store

Here’s an overview of everything valuable and crucial you should know about Fidelity Go.

Account Minimum $0 to open. $10 upon investing
Account Management Fee No Advisory Fee: Below $10,000 account balance

$3 Monthly Fee: $10,000 – $49,999 account balance

0.35% Commission Fee: S$50,000 and above account balance

Investment Expense Ratios Included in management fee
Account Fees for Annual Transfer, Closing, and Others None
Portfolio Mix Fidelity Flex Mutual Funds

Well-diversified

Lack of international bonds and non-market correlation assets (REITS, commodities, etc.)

Supported Accounts Individual and joint retirement accounts

IRA (Roth, Traditional, Rollover. US Only)

Tax Strategy No tax-loss harvesting available. Uses municipal bonds in tax-brokerage accounts.
Rebalancing Strategy Free. Human oversight monitors and adjusts rebalancing strategies accordingly not automatically
Options for Human Advisors None. Fidelity has an alternative Personalized Planning and Advise platform
Cash Management Account Option Fidelity has a separate cash management account, which they can integrate with Fidelity Go.
Customer Support 24/7. Monday to Friday live chat starting from 8AM-6PM EST

Things We Like About Fidelity Go

1. Competitive Fees

You can see everything about the account and its interface for just zero. You won’t even need to synchronize any account or register your credit card yet. However, once you agree to start your recommended strategy, you’ll need to pay $10, which isn’t a significant amount. Plus, you’ll only pay your $3 annual fees once your account starts reaching $10,000. The 0.35% account management fee only starts when your Fidelity account starts earning beyond $50,000.

2. Quick Start

We’ve mentioned it in the early sections of this review: Fidelity Go is the most feature and user-friendly platform we’ve ever seen. You won’t need to pay anything to start an account. To begin, you’ll need to fill up their quick signup form; then, you’re registered. Once they’ve identified the best investment strategy for you after you answer their interview questions, you can synchronize your deposit account to pay the initial $10. It’s that fast and easy.

3. No Minimum Deposits

Fidelity Go does not require you to make a deposit, which is especially helpful for those who want to look around first. You’ll only pay a single deposit of $10 to jump-start the Robo-advisor’s highly recommended strategy. Without huge minimum deposits, you can explore its investment options without fear of losing anything. Additionally, Fidelity Go starts charging fees only when it makes you profit $10,000 and beyond.

4. Synchronizes With Any of Your Existing Accounts

The investment platform can communicate and interface with virtually any US bank account. Therefore, if you intend to deposit pre-emptively when changing investment strategies or addressing recommended readjustment balances, you can quickly do so. Fidelity Go allows you to make deposits on its online platform and app too.

5. Significantly Low Annual Fees

If your portfolio is earning less than $10,000, Fidelity Go won’t charge you anything. Instead, it will keep executing its investment strategies (with humans making manual adjustment balances behind-the-scenes) and then charge you a small $3 annually once it goes beyond $10,000. Even if you reach the $50,000 threshold, the 0.35% management fees are tolerable considering the high profit you can receive.

6. Fee Transparency

Any time you are confused about your Fidelity charges and fees, their customer service department is fully transparent regarding its calculations. While it might take them some time to produce your information, Fidelity Go’s representatives can give you a clear statement that leaves you with a full understanding of your fee calculations, which is critical for budgeting and investing.

Generally speaking, Fidelity has an excellent customer service department to address all your needs.

Is Fidelity Go a Good Investment?

Fidelity Go is a great investment of your time and money. With $0 to sign up for an account and a small $10 fee to start your investment strategy, you won’t have anything to lose that Fidelity Go and Fidelity Investments did not produce through their account. You can open an account without hassles, and Fidelity offers the best investment possibilities with full integrity and transparency.

Can Beginners Quickly Use Fidelity Go?

Yes, anyone can use Fidelity Go, especially if they’re already familiar with the beginner-friendly Fidelity Investments. Success with Fidelity Go is enormous, especially for an investor who has a low-risk tolerance. Fidelity Go’s mutual funds-oriented financial planning strategies makes it an excellent choice if you need a safe haven to offset your other index and stock-oriented investments.

Areas For Minor Improvements

1. Lack of Tax-Loss Harvesting

All US investment portfolios will earn capital gains tax (CGT) depending on your time horizon. Short-term investment incomes incur up to 37% CGT. On the other hand, long-term investments, which Fidelity Go hugely encourages, have lower CGT at 20%.

Tax-loss harvesting is a fund manager’s automatic rebalancing method, enabling them to sell certain stocks and assets at a loss to cover CGTs. Fidelity Go does not have this automatic rebalancing, which means investors still need to calculate and deduct CGTs to learn their total net profit. With tax-loss harvesting, investors can save time and have clarity about their net profits.

2. Poor Integration with Fidelity Spire

Fidelity Spire can synchronize your bank accounts, just like Fidelity Go. However, you cannot integrate Fidelity Go with Fidelity Spire.

About Fidelity Spire: This app is Fidelity’s young professional-oriented financial planning application, allowing them to monitor their spending activities. Furthermore, it allows them access to limited investment vehicles and uses the same Robo-advisor algorithm as Fidelity Go. It’s free for anyone to use, and its interface is user-friendly and intuitive.

3. Focused Only On No-Commission Mutual Funds

Fidelity became widely famous because of its zero-commission Fidelity Flex funds, which attracted significant investors’ waves to use their services. However, mutual funds are a mixed bag that prioritizes risk-offsetting. Doing so limits all possible higher-stakes investments you can find in an exclusive index fund or ETF-oriented fund. However, anybody looking for stability will find it by investing in Fidelity Go.

Alternatively, the company offers an excellent index fund and high-risk appetite products, allowing you to use Fidelity Go as an excellent offset.

4. Limited Account Variety

Fidelity Go’s ultimate goal is to have you start making investments. To attract passive investors and present viable long-term investment strategies, it’s a cost-effective and low-risk proposition. However, it’s a “one-trick pony” because it’s the only purpose and objective Fidelity Go has.

We look forward to seeing some account variations, but we believe Fidelity has other high-risk tolerance products.

How Much Does Fidelity Go Cost?

Here’s Fidelity Go against other products with the same features, benefits, and service.

Fidelity Go Betterment Marcus
Account Minimum $0 to Open. $10 For Investing $0 for Betterment Digital, S$100,000 $0 to Open
Fees 0.35% 0.25% n/a
Account Fees for Transfer Etc. None None n/a

Where Fidelity Go Truly Shines: Low-Cost Investment Management

Virtually every highly-interested investor is in a position of need with minimal cash available for investment. With zero account minimum to start using its services and just $10 to begin your investment journey, this investment platform is the most accessible for young professionals. Additionally, beginning investors and passive investors looking for safe havens that can offset their aggressive portfolios can use this to their advantage too.

Additionally, partnering low-cost investment management with low-risk mutual fund-oriented portfolios is a good thing for the wider beginner investment population. The passive investment style requiring no manual asset allocation will suit most traders who aren’t keen on paying attention to tickers and graphs for hours after work.

Is Fidelity Go Perfect For You?

No investment platform is perfect, and Fidelity Go has many personalities compatible with the majority of beginning investors. Additionally, if you’re someone looking for an investment with nearly-guaranteed investment outcomes in the next few decades, Fidelity Go is certainly your best bet. Truthfully, low-cost investment partnered with low-risk portfolios sound better than an insurance policy offering the same portfolio but with strict claim conditions.

Fidelity Go: Not Perfect But Effective and Affordable

Fidelity’s mutual funds-oriented Go platform isn’t perfect. It has a single goal: to get beginner investors and provide them with virtually-guaranteed results. Furthermore, it’s passive, but a human team of financial advisors is at the helm of all of its financial planning. It’s an excellent and effective product for investors with a low-risk appetite and has ample amounts to invest.

To find more review content about the best financial technologies, products, and services, Investoralist has a dedicated review section for all your needs. Our blog can give you ideas on your first investment journey too!