Fidelity Go review: Automated investing with low fees and no account minimum

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• Fidelity Go is an automated account that builds and manages a personalized portfolio for you.
• It has no minimum requirements, but you’ll pay $3 per month or 0.35% per year for higher balances.
• Fidelity Go primarily invests your money into a diversified portfolio of Fidelity Flex mutual funds.
• Click here to set up an account with Fidelity Go.

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Is Fidelity Go right for you?

You may like Fidelity Go if you…	You may not like Fidelity Go if you…
Want a low-cost, hands-off investment account that combines automated features with management from a team of human investment professionals Prefer to avoid expense ratios when investing in funds Plan to start investing with an account balance below $10,000 (Fidelity Go charges $0 for balances below this amount) Want to open an individual, joint, traditional IRA, Roth IRA, or rollover IRA account	Want to actively trade different investments or capitalize on short-term stock market trends Prefer ETFs over mutual fund portfolios Want both automated management and financial advisor advice Like tax-advantaged features like tax-loss harvesting

Fidelity Go is Fidelity Investments’ automated investment advisor. It relies on computer algorithms to create personalized portfolios for you, with no account minimum. The investment app launched Fidelity Go in 2016 to cater to hands-off investors who prefer to have their investments managed for them.

The account – which utilizes a blend of mutual funds – competes with the likes of other automated advisors such as Schwab Intelligent Portfolios, Vanguard Digital Advisor, and SoFi. But Fidelity doesn’t just utilize automated technology; it also relies on a team of investment professionals who handle the account’s day-to-day trading decisions.

Fidelity Investments is available both on the web and on iOS and Android mobile devices. Keep reading to see if it’s right for you.

Editor’s rating	4.35 out of 5
Fees	0%, $3/month, or 0.35%/year
Account minimum	$0
Promotion	None at this time
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How does Fidelity Go compare?

Min. Investment $0	Min. Investment $0 or $100,000, depending on plan	Min. Investment $5,000 Schwab Intelligent Portfolios ($25,000 Schwab Intelligent Portfolios Premium)
Fees 0%, $3/month, or 0.35%/year	Fees 0.25% (0.40% for premium plan)	Fees 0% Schwab Intelligent Portfolios (one-time $300 fee, $30/month Schwab Intelligent Portfolios Premium)
Investment choices Fidelity Flex mutual funds	Investment choices Stock ETFs and bond ETFs	Investment choices ETFs
Open an account	Open an account	Open an account

Fidelity Go and Betterment are similar in that both specialize in automated investment advice. They mainly differ in fees and investment choices. Fidelity Go invests your money in a portfolio of mutual funds, while Betterment mainly uses ETFs. Users with less than $10,000 to invest will pay less at Fidelity than they would with Betterment.

Though Schwab Intelligent Portfolios has a higher minimum ($5,000), it makes up for it with its lack of advisory fees. And like Fidelity, Schwab could be a better option for those looking to dabble in other wealth-building products like self-directed brokerage accounts.

If you’re leaning toward Fidelity Go, though, keep reading to see how it works.

Ways to invest with Fidelity Go

Automated investment management

Fidelity Go is best for passive investors who aren’t interested in actively trading investments or trying to time the stock market. This account is solely automated, meaning Fidelity Go’s team manages your portfolio and investment transactions for you.

And Fidelity doesn’t place any restrictions on the number of accounts you can open. This could be good for investors interested in taking advantage of both self-directed brokerage accounts, automated accounts, and others simultaneously. You can learn more on Fidelity Go’s FAQ page.

While there aren’t any minimum account size requirements (though you’ll need $10 to start investing), you may incur an advisory fee, depending on the size of your account balance. Fidelity Go has the following fee schedule:

• Under $10,000: $0
• Between $10,000 and $49,999: $3 per month
• $50,000 and above: 0.35% per year

Fidelity Go supports individual, joint, traditional IRA, rollover IRA, and Roth IRA accounts. Strategic Advisors, LLC, a Fidelity Investments company, manages the trading decisions in the account.

Investment choices

Fidelity uses a combination of Fidelity Flex mutual funds in its Fidelity Go portfolios. These funds contain a mix of domestic stocks, foreign stocks, bonds, or other short-term investments, according to Fidelity.

Most mutual funds have an expense ratio fee structure that deducts an annual fee from your holdings. Fidelity’s Flex mutual funds, however, have zero expense ratios. This means that, besides your account’s management fee (if applicable), you won’t have to worry about any annual fund fees.

Account setup and user interface

It’s pretty easy to get started with the Fidelity Go account. The company determines an appropriate investment strategy by asking you a few questions about your age, risk tolerance, investing goals, and more. And keep mind that you aren’t permanently locked into a particular investment strategy. Fidelity lets you change your strategy at any time.

For instance, an initial deposit of $300, monthly contribution of $300, risk profile of six (Fidelity rates risk on a 1-10 scale), $70,000 annual household income, and 2000 birth year would generate the following investment strategy:

The portfolio above also has a specific focus for retirement. After you choose an investment strategy, you’ll be all set to fund your account and start investing.

Is Fidelity Go trustworthy?

Fidelity Investments currently has a C- rating with the Better Business Bureau. The BBB says it gave Fidelity Investments this rating because it hasn’t resolved 51 of the complaints filed against it.

Other factors that the BBB takes into consideration include type of business, time in business, licensing and government issues, and advertising issues. But the bureau also says its ratings don’t ensure a company will be reliable or perform well. This is why it’s crucial to do your own due diligence in addition to its findings before committing to an investment app.

Fidelity Investments has closed 253 complaints in the last 12 months, according to the BBB.

Rickie Houston is a wealth-building reporter at Personal Finance Insider who covers investing, brokerage, and wealth-building products.

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