Fidelity Go Review: Low-Cost Automated Investing - MagnifyMoney

Fidelity Go Review: Low-Cost Automated Investing

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Fidelity Go operates as Fidelity Investment’s robo-advisor service, giving hands-off investors the ability to automate their investing. Fidelity Go recommends and builds portfolios made up of mutual funds based on your answers to just a few, quick questions. From there, it monitors your investments and rebalances when necessary.

While Fidelity Go may be lacking in some areas, such as tax optimization and the range of account types offered, it shines when it comes to offering low fees, communication with its clients and the assurance of investing with a big-name brokerage.

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on Fidelity’s secure website

The bottom line: Fidelity Go is a robo-advisor that offers mainly digital investment management, investing your money in a portfolio of mutual funds.

  • Charges tier-based pricing, based on your account balance, with accounts under $10,000 paying $0
  • Invests your money primarily in a mix of its mutual funds, Fidelity Flex funds
  • Has a team of human financial experts handling the day-to-day management of your portfolio

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Best for...
  • Beginner investors  
  • Hands-off investors 
  • Investors who want to minimize fees 
  • Investors who want an added human touch to their digital portfolio management 
Minimum investment$0
Management fee$0 to 0.35% per year, depending on your account balance
Accounts offeredIndividual taxable, joint taxable, Traditional IRA, Roth IRA,  rollover IRA
Access to human advisorsNo
Banking servicesNo

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What is Fidelity Go and how does it work?

Similar to other robo-advisors, Fidelity Go begins its process of building your custom portfolio by  asking you a few questions about yourself and your financial targets. Next, it will recommend an investment strategy based on your answers to those questions, which includes a recommended  asset allocation and charts showing the potential value of your investments over time.

Upon selecting your investment strategy (whether it’s the one Fidelity recommended for you or one of your own choosing) and funding your account, Fidelity Go will build your portfolio by purchasing the recommended investments, commission-free.

After your portfolio is put into place, Fidelity Go actively monitors it and rebalances it when necessary. Fidelity Go allows you to change your investment strategy whenever you’d like — although you are not allowed to buy and sell individual investments within your account.

While Fidelity Go does not charge a minimum fee, you will need to fund your account with at least $10 to begin investing. Additionally, Fidelity Go allows you to set up recurring monthly deposits to your investment account.


  • Competitive pricing: For beginner investors who aren’t looking to invest a large sum of money, Fidelity Go is an excellent option as it does not charge any fees for accounts with balances under $10,000. If you’re looking for a low-cost robo-advisor, Fidelity Go is a stellar option.
  • Managed by humans, not robots: Many robo-advisors rely on algorithms and digital technology for the day-to-day management of their client’s portfolios. With Fidelity Go, however, the daily monitoring of your portfolio is handled by Strategic Advisers LLC, a registered investment advisor and Fidelity Investments company. This means there are actual humans making the investment and trading decisions for your portfolio, which is a great benefit for people who are wary of handing all of the control over to an algorithm.
  • Access to Fidelity Flex funds: When you invest with Fidelity Go, your money is primarily invested in Fidelity Flex funds. These funds are a selection of Fidelity mutual funds that are incredibly fee-friendly, as they do not have expense ratios or management fees and many also do not charge fund expense fees. For inventors who prioritize low-fee investments, this is an excellent aspect of Fidelity Go.
  • Regular portfolio updates: Fidelity Go is in constant communication with its clients, and while you’ll be primarily hands-off when it comes to managing your portfolio, the robo-advisor makes sure you stay informed. Fidelity Go sends out monthly email updates to clients, which include information such as summaries of your account information and any account activity over the past month as well as balance details. It also offers an Annual Strategic Review, in which it will check in with you once a year to make sure all of your information is still up to date, and if not, recommend changes to your strategy. This is a beneficial feature for investors who want to stay in the loop.


  • Lack of tax optimization: While Fidelity Go does say that it prioritizes investing in tax-efficient funds, it does not offer any specific tax minimization strategies, such as tax-loss harvesting. Many of its robo-advisor peers offer a plethora of tax minimization features, so for investors looking specifically to lower their tax bill, there are better options out there.
  • Fewer account types supported: Fidelity Go only supports individual and joint brokerage accounts, Roth IRAs, Traditional IRAs and rollover IRAs. Compared with many of its robo-advisor peers, which offer an array of accounts including custodial accounts, SEP IRAs and 529 plans, this is a relatively limited selection.
  • Limited investment selection: Fidelity Go primarily invests your money in its Fidelity Flex funds, which consist of a lineup of mutual funds that offer an array of benefits, like no expense ratios and no management fees. However, this also limits the scope of investments that your money is invested in, and if you prioritize investing in only socially-responsible funds or other values-based funds, you will have to look elsewhere.
  • No access to human financial advisors: While the daily investment and trading decisions of your portfolio are managed by Strategic Advisers LLC, which is a registered investment advisor, Fidelity Go does not offer you personal access to a human financial advisor who can walk you through specific investment questions or strategies. Instead, you will have to sign up for one of Fidelity’s other investing services, such as Fidelity Personalized Planning & Advice, to receive this level of guidance.

Fidelity Go’s investment approach

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Investment optionsMutual funds
Tax-loss harvesting
Portfolio rebalancing
Smart Beta
Socially-Responsible Investing
Fractional shares

Asset allocation

In terms of asset allocation, Fidelity Go invests in a combination of mutual funds, which typically hold asset classes including domestic stocks, foreign stocks, bonds or other short-term investments. This is notably different from many other robo-advisors that opt to invest in solely ETFs.

Specifically, Fidelity Go invests primarily in what it calls Fidelity Flex mutual funds, which are a selection of Fidelity mutual funds that have zero-expense ratios, and include proprietary active and passively managed funds. Funds are selected for you based on factors such as investment philosophy, risk and return characteristics, assets under management and tax efficiency.

Currently, Fidelity Go offers the following investment strategies:


  • 20% stocks
  • 80% bonds

Moderate with income:

  • 30% stocks
  • 70% bonds


  • 40% stocks
  • 60% bonds


  • 50% stocks
  • 50% bonds

Growth with income:

  • 60% stocks
  • 40% bonds


  • 70% stocks
  • 30% bonds

Aggressive growth:

  • 85% stocks
  • 15% bonds

Tax strategy

While Fidelity Go does prioritize investing in Fidelity Flex funds that are tax-efficient, it does not deploy other tax minimization strategies, such as tax-loss harvesting.

Fidelity Go’s fees

  • Annual management fee: $0 to 0.35%, depending on your account balance
  • Investment expense ratios: None with Fidelity Flex funds

Fidelity Go features a tier-based pricing structure, with your rate based on your account balance. It does not change any trading fees, transaction fees or rebalancing fees.

Currently, its pricing structure is as follows:

Fidelity Go Fee Schedule

Account balanceFee
$10,000-$49,999$3 per month
$50,000+0.35% per year

Fidelity Go’s features and tools

Fidelity Flex funds

The centerpiece of Fidelity Go is that it primarily invests your money in Fidelity Flex funds. These are a curated selection of mutual funds that have zero-expense ratios, no management fees and typically never have fund expenses — all of which is somewhat of a rarity for mutual funds. Fidelity Flex funds include both proprietary active and passively managed funds, spanning a number of common asset classes including stocks and bonds.

Annual Strategic Review

One strength of Fidelity Go is the constant communication it provides to its clients. In addition to sending out monthly emails, which include portfolio summaries and activity information, it also conducts an Annual Strategic Review. During the review, you will let Fidelity know of any changes that may have occurred that year, and in response, it may suggest a different investment strategy.

Portfolio management by Strategic Advisers LLC

While many robo-advisors rely solely on technology and an algorithm to monitor and rebalance clients’ portfolios accordingly, Fidelity Go adds a human touch, as the daily management of your portfolio is performed by human financial experts at Strategic Advisors LLC, a registered investment advisor. This is a feature certainly worth highlighting, as investors will receive the convenience of a robo-advisor with the added assurance of human money management.

Fidelity Investments app

Fidelity Go is accessible via the Fidelity Investments app, which is available for iOS and Android. While this is more of a feature of Fidelity Investments itself (and not specifically Fidelity Go), the app is rich in helpful resources and tools, especially for beginner investors. For example, it includes detailed and up-to-date information about the markets (including top gainers and losers), relevant news articles and resources on investing strategies.

Fidelity Go user experience

As mentioned above, Fidelity Go does not have its own app, but is instead available on the Fidelity Investments app, available on Android and iOS. The app is rich in resources and tools,  including up-to-date information on the markets and your portfolio, and it provides easy access to your Fidelity Go account. Fidelity Go is also available via desktop.

In terms of customer service, Fidelity Go offers assistance over the phone at 800-343-3548. You can also reach out through a Live Chat functionality on its website that is available Monday through Friday, 8 a.m. to 6 p.m. EST.

Fidelity Go’s safety and security

  • Two-factor authentication
  • Security text alerts
  • Voice recognition
  • SIPC coverage

Fidelity Investments takes a robust approach to security. It features two-factor authentication, where it requires you to type in a security code that is sent via text or verify your identity through a phone call before allowing you to log into your account. Additionally, it allows you to lock your accounts instantly, protecting you from unauthorized transfers, and it provides a security text alert feature and voice recognition technology for added layers of security.

All Fidelity Investment accounts have SIPC coverage, meaning in the case that Fidelity Go were to fail, up to $500,000 of your account (including $250,000 in cash) is protected and insured.

Is Fidelity Go worth it?

While Fidelity Go may lack some of the more innovative tools that its robo-advisor peers tend to boast — like automatic round-up features and values-based investing options — it is still a solid choice if you are looking for a standard robo-advisor with minimal fees.

With no management fee for accounts up to $10,000, mutual funds with zero-expense ratios and no minimum deposit required, Fidelity Go is an excellent option for new investors who want to save on fees while still receiving a quality robo-advisor from a big-name brokerage. Additionally, Fidelity Go is a standout pick for investors who are wary of a completely automated experience and would still like a little bit of human management intertwined.

Seasoned investors who want to take a more hands-on approach to investing, though, and those who are looking for a more expansive list of investments to select from, will likely have better luck looking elsewhere.

Alternatives to Fidelity Go

Management Fees0%
Account Minimum$0
Management Fees0.25%
Account Minimum$0

Three months free for new customers who are referred by an existing Betterment account holder

Management Fees0%
Account Minimum$5,000

Fidelity Go vs. Betterment

Fidelity Go and Betterment are relatively similar, as they both offer the basics of robo-advising services like recommended investment portfolios, diversified asset allocation and rebalancing. That being said, there are a few differences in the details.

While their fees are comparable, if you want to optimize tax minimization, Betterment is the better fit, as it offers a slew of tax minimization strategies (such as tax-loss harvesting) that Fidelity Go notably lacks. Also, if you are interested in socially-responsible investing, Betterment has socially-responsible investment options that Fidelity Go simply does not.

However, if you do not want to hand full control over to a robot, Fidelity Go offers the added benefit of having your account monitored and rebalanced by an actual team of financial experts. Before deciding between the two, consider which priorities matter most to you.

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on Betterment’s secure website

Fidelity Go vs. Schwab Intelligent Portfolios

The most notable difference between Fidelity Go versus Schwab Intelligent Portfolios is their account minimums. While Fidelity Go does not have a minimum (although it will not actually start investing your funds until you reach the $10 threshold), Schwab Intelligent Portfolios requires a hefty minimum of $5,000, which automatically limits the eligibility of its clientele.

Schwab Intelligent Portfolios does offer a wider selection of investments to choose from — including 53 different ETFs that span over 20 expanded asset classes — as well as a larger array of available accounts. If you want more options, the minimum may be worth it.

If you are simply looking for a no-frills robo-advisor, though, Fidelity Go offers a competitively similar service for a much lower minimum, low fees and the added benefit of having your money managed by real humans, making Fidelity the true winner between these two.

Open a Schwab Intelligent Portfolios account

on Schwab Intelligent Portfolios ’s secure website

All information included in this profile is accurate as of 10/28/2020. For more information, please consult Fidelity Go’s website.

The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.