Fidelity Go Review 2021 – Expert Analysis of Fidelity Robo-Advisor

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Fidelity Robo-Advisor Review by Professional Investor

Fidelity Go is an online, automated investment platform, commonly known as a robo-advisor. It is the robo-advisor arm of Fidelity Investments. Fidelity Investments is one of the largest investment brokerage firms in the world, offering brokerage services, a large family of mutual funds, retirement services, wealth management and life insurance.

In fact, as a former portfolio manager, I regularly consumed Fidelity’s stock research resources.

Fidelity operates two of the most popular equity funds in the world, Fidelity Magellan Fund and Fidelity Contrafund.

Fidelity Go represents Fidelity’s entry into the growing robo-advisor investment trend. In addition to all the other services that Fidelity offers, the Fidelity Go robo-advisor provides you with the opportunity to have some or all your investment portfolio professionally managed by the platform.

Fidelity also offers a hybrid robo-advisor called Personalized Planning and Advice. We’ll also include an overview of this offer.

Fidelity Go Review
  • Fees
  • Investment Choices
  • Ease of Use
  • Tool & Resources


Fidelity Go robo-advisor is a basic digital investment manager with financial advisor access for wealthier investors. Best for:

  • New, small investors
  • Existing Fidelity customers


  • First $10,000 managed for free
  • Part of the Fidelity fund family
  • Fee-free investment funds


  • Fidelity Go lacks a wide range of investment choices
  • The risk quiz is less comprehensive than competitors
  • Few account types for Fidelity Go users


What is Fidelity Go?

The Fidelity robo-advisor is designed for investors who prefer to have their money professionally managed.

You complete a questionnaire that forms the basis of your portfolio allocation, and then Fidelity Go handles all the investment management for you. The management is guided by experts and implemented with technology

You don’t need a minimum initial account deposit in order to get started, although you will need a minimum of $10 in your account before Fidelity Go can start investing your money.

This Fidelity robo investing review drills down into the platform’s details.

Fidelity Go Robo-Advisor Review – Features at a Glance

FeaturesFidelity Go
OverviewAutomated investment management robo-advisor with access to actively managed funds and Fidelity Investment Company services.
Minimum Investment AmountZero - $10 to begin investing.
Fee StructureUp to $10,000-free investment management. $10,000 to $49,999 - $3 per month. Over $50,000 - 0.35% aum
Top FeaturesFee-free mutual funds. Part of the Fidelity Investments family, providing access to all that the company offers.  Annual Strategic Review.
Accounts AvailableSingle and joint taxable investment accounts. Roth, traditional, and rollover IRAs.
Investment FundsDiversified mix of fee-free Fidelity Flex mutual funds from stock and bond asset classes.
Free ServicesFirst $10,000 managed for free.
Contact & Investing AdvicePhone 24/7
Live Chat (offline) 8 am - 8 PM EST Monday - Friday

How Does Fidelity Go Work?

Fidelity Go sign up couldn’t be easier. Simple answer a few questions about your income, goals, account type and your risk level. Then Fidelity comes up with a a diversified investment portfolio based on your responses.

The Fidelity Go team chooses your investments, monitors the investment markets and keeps your strategy on track.

Quilte simple, Fidelity Go is appropriate if you’re looking for a low fee investment manager that creates an investment portfolio, manages and updates your investments for you.

If you’re an existing Fidelity customer, it’s worth a look.

What Differentiates Fidelity Go From Competitors

The Best of Fidelity Managed Accounts

Since Fidelity Go is part of the Fidelity Investments family, you can have both managed investments and self-directed investments with the same brokerage firm. You can maintain a self-directed investment account with Fidelity Investments, and allocate a portion to the Fidelity Go robo-advisor to be professionally managed.

For new or inexperienced investors, this combination do-it-yourself plus automated Fidelity Managed accounts can be particularly attractive.

You can even compare your own self-directed investing results with your Fidelity Go account to determine how well you are doing on your own.

Fidelity Managed Accounts

Fidelity offers 3 Managed Account solutions

  • Fidelity Go – Digital Advice -Goal based automted investment advisor. Appropriate for all levels of investors. No minimum investment required.
  • Portfolio Advisory Services Account – Financial advisor driven investment management with a range of available investment options. Appropriate for wealthier investors seeking low fee investment management and financial advisor access. Minimum investment of $50,000.
  • Separately Managed Accounts – Fidelity Strategic Disciplines offers single-aset class portfolios of individual securites to fit your specific opjectives like, dividend or tax-free investing. Appropriate for investors with $100,000 to $35,000 seeking targeted investing.

The Fidelity Go Robo is the most economical of the firm’s three managed account options and most suitable for investors who don’t need full blown and comprehensive financial planning services.

Although, investors with between $50,000 and $200,000 seeking a personal financial advisor might consider the Fidelity Portfolio Advisory Service.

Fidelity Go Annual Strategic Review

Annually, Fidelity Go checks in with you to make sure that your situation has remined constant. If anything in your profile has changed, they may suggest a new investment strategy for you. This keeps your investments from drifting out of line with your goals and risk comfort level.

Fidelity notifies you in advance of the review, and follows up with another reminder.

If you don’t respond to the emails, Fidelity Go will do their own analysis of your account and your information. If they determine that your current investment strategy is no longer appropriate based on your information, they will move your portfolio into an investment strategy that they deem a better match.

The move is initiated if Fidelity determines that your portfolio is riskier than it is suitable, based on the information they have available.

Fidelity Go Invests in Fee-free Fidelity Flex Mutual Funds

Most robo-advisors invest in ETFs with small investment management fees.

Keeping fees low (or non-existant) can help overall investment performance.

Bonus: Ellevest Review-Robo-Advisor with Financial Planners and Career Consultants (not for women only)

Fidelity Go Review of Target Tracking

Once your account is open, you can choose a target dollar amount for your portfolio to reach by a certain date. Once you choose that amount, Fidelity Go estimates the likelihood that you will reach that goal. If it appears that you won’t, they will offer suggestions to improve your chance of hitting your goal.

Fidelity Robo-Advisor Review - Expert analysis of Fidelity's digital investment advisor.

In this way, Fidelity Go isn’t just managing your investments. They are also providing you with overview strategies that might help you to reach your investment goals.

Fidelity Go Robo-Advisor Review – Drill Down

Investment Management

The actual day-to-day management of your Fidelity Go portfolio is handled by  Fidelity Personal and Workplace Advisors LLC (FPWA), a registered investment adviser.

Fidelity Brokerage Services (FBS) handles the back-end account management responsibilities.The benefit of dealing with Fidelity is that you know they have top-level professionals and that the firm will be around for the long term.

Fidelity Robo-Advisor Investment Mix

Fidelity Go’s investment mix includes passively managed US and international stock and bond funds from the Fidelity Flex family

Fidelity Flex Funds

Fidelity has upended the investment industry with the introduction of Fidelity Flex Funds. These are similar, although not identical to, existing low-fee index mutual funds but the Fidelity Flex funds do not charge a management fee.

That’s correct, unlike all other mutual and exchange traded funds, Fidelity Flex Funds don’t charge a fund management fee!

Sample Fidelity Flex Funds Include:

SectorFidelity Investment FundTicker Symbol
U.S. Large-Cap StocksFidelity Flex 500 IndexFDFIX
U.S. Mid-Cap StocksFidelity Flex Mid-Cap Index FundFLAPX
U.S. Small-Cap StocksFidelity Flex Small-Cap Index FundFLXSX
Foreign StocksFidelity Flex International Index FundFITFX
Municipal BondsFidelity Flex Municipal Income FundFUENX
Short-Term Municipal BondsFidelity Flex Cons. Income Municipal Bond FundFUEMX
Short-Term CashFidelity Government Cash ReservesFDRXX

The municipal bond funds are only included in taxable not retirement accounts.

When you go through the signup process and determine your risk tolerance, you’re presented with a See My Suggestion button that shows the investment sectors that the funds will represent.

I claimed that I would invest a lump sum of $50,000.

I rated myself as an “7” on the risk tolerance scale, gave my age as 47 and was presented with a growth portfolio.

The growth portfolio allocation included:

  • 49% Domestic Stock Funds
  • 21% Foreign Stock Funds
  • 30% Bonds
  • 1% Short-Term (typically cash-like investments)

I liked that the analysis includes a potential value of my investment over time. In an average market, in 16 years, in retirement, my $50,000 initial investment was projected to grow to $164,400.

If the markets experienced lower returns over the next 16 years, my investments would be worth roughly $81,800.

Fidelity Go Accounts

Fidelity Go offers the following types of accounts:

  • Single and joint taxable investment accounts
  • Roth, traditional, and rollover IRAs

Fidelity Go offers fewer account types than many of it’s competitors. Betterment and Wealthfront each offer more account types than Fidelity Go.

Top Robo-Advisors

Robo AdvisorManagement FeeInvestment Minimum
m1 finance image
M1 Finance
None$100Sign up
Betterment logo0.25% of AUM (free managment promo)NoneSign up
wealthfront review logo
0.25% of AUM ($5,000 managed for free)$500Sign up
None$1.00Sign up
ellevest logo$1-$9 per month NoneSign up
schwab intelligent portfolios logoBasic-None Premium-$30/month ($300 set up fee)$5,000Sign up

Fidelity Go Performance

In a March 17, 2020 Backend Benchmark report, “Fidelity Go placed first in three of the six categories that we use to rank robos: Best Overall Robo, Performance at a Low Cost, and Best Robo from an Incumbent Financial Institution.”

According to their research, Fidelity Go’s returns has been very competitive

Although the Fidelity Go performance information is interesting, it shouldn’t drive your investment decision. Your returns will vary based upon your asset mix and account type. Additionally, previous performance data doesn’t determine future returns.


Rebalancing means buying and selling funds to return the investment percentages back to your preferred mix. So if you chose to have 70% invested in stock funds and 30% in bond funds, and after a time the mix grew to 75% stock funds and 25% bond funds, Fidelity go would sell a portion of the stock funds and buy bond funds to return to your pre-selected 70% – 30% allocation.

Fidelity Go doesn’t have a specific percentage parameter that guides rebalancing. Instead, they continuously monitor your portfolio and the investment environment. If the markets move significantly in either direction, causing your portfolio to stray from the preferred allocation, the company rebalances it back to your preferred percentages.

Fidelity Go Login and Sign-up Process

The Fidelity Go sign up process couldn’t be easier. You can do it in just a few minutes. It starts with a seven-part questionnaire—or less!

The first three questions are the same:

  1. I was born in the year____________.
  2. This account is for – Just Me or Me and My Partner. You will be prompted to enter your partner’s birth year, if applicable.
  3. I am investing for – Retirement or Something Else (like a car or down payment on a house).

If you choose “something else,” you will be asked only two more questions:

  1. I’ll need the money in ____ years (minimum 3, maximum 30+)
  2. I have $____ to start and want to contribute $____ each month.

If you select “retirement,” you will continue on with four more questions:

  1. My preferred account type is – Tax Advantaged (IRA) or Taxable.
  2. I have $____________ to start and want to contribute $____________ each month.
  3. My household’s total annual income before taxes is about $_____________.
  4. Where would you be most comfortable placing yourself on the risk tolerance scale? – 1 (more conservative) TO 10 (more aggressive)

In regard to #7, I’m not certain about the integrity of determining your risk tolerance by a numeric self-assessment. The single question essentially asks you how you feel about risk, which isn’t the same thing as determining your reaction to the events that drive risk.

For example, Vanguard Personal Advisor Services asks specific questions that address the actual mechanics of risk:

  1. ”Generally, I prefer investments with little or no fluctuation in value…?”To which you can indicate strongly disagree, disagree, somewhat agree, agree, or strongly disagree.
  2. ”How stable are your current and future income sources?”To which you can indicate the degree between very unstable and very stable.
  3. ”What other concerns do you have about market risks?” This is an essay type question, where you are free to record any concerns that you have.

Personally, I’d advise you to consider how you might react to a risk generating event, such as the possibility of losing 25% of your portfolio in one year, or even consider the Vanguard questions. Either would be more accurate as a barometer of risk tolerance than simply assigning yourself a number.

Fortunately, you can adjust your risk tolerance if you’re too heavily weighted towards stock funds (riskier) or over-weighted in bond investments (more conservative).

Fidelity Go Robo-Advisor Review overview

But let’s get back to the sign-up process…

Once you have completed the Fidelity Go questionnaire, the platform will provide a suggested investment strategy based on your self-assigned risk score.

But an advantage with Fidelity Go is that the investment strategy that they suggest is just that – a suggestion. Once you are presented with the recommended portfolio mix, you are free to adjust your risk tolerance and investment parameters. In doing so, you can have the portfolio allocation adjusted to a level that you consider to be better matched to your preferences.

Once you decide on your actual portfolio allocation, you can open and fund your Fidelity Go account.

Fidelity Go Tax Loss Harvesting is Tax-advantaged Investing

Fidelity Go does not offer tax-loss harvesting for their taxable investment accounts (the option is unnecessary with IRAs, since they’re tax-sheltered accounts). The Fidelity robo-advisor’s nod to tax loss harvesting is the availability of a municipal bond fund for the taxable brokerage account.

Fidelity Go considers tax-advantaged investing to be IRA accounts. One area where the platform departs from typical robo-advisors is that they do not offer a specific tax-advantaged investing option. For a basic robo-advisor that offers tax-loss harvesting, consider Betterment.

Want help choosing a robo-Advisor? Try our Robo-Advisor Selection Wizard

Fidelity Go Fees

Like Ellevest, Fidelity has just reduced fees and added a subscription model.

Fidelity Go offers severl fee levels, based on your account balance.

You’ll pay no advisory fee for a balance under $10,000.

This is great for small investors.

For investors with $10,000 – $49,999 you’ll pay $3 per month.

Once your investments reach $50,000 the management fee is 0.35% AUM.

There are no trading fees, transaction fees, or rebalancing fees.

For investors seeking lower fee robo-advisors, check out our list of robo-advisor fees from lowest to highest.

Fidelity Personalized Planning and Advice – Hybrid Robo-Advisor

For investors seeking human financial planner coaching along with digital investment management, the hybrid robo might be for you.


  • Financial coaches available for all users. Coaches help with all sorts of financial planning for near-term and longer-term goals.
  • Personalized investment plan
  • Before sign up, a free investment strategy is available to potential clients.

Minimums and Fees:

  • Personalized Planning and Advice offer requires a $25,000 investment minimum
  • Annual fee is 0.50% of AUM

The Fidelity hybrid robo-advisor is a good alternative for investors seeking professional investment management along with financial coaching. Although there are lower cost alternatives at Schwab, Sofi Invest (zero management fee), Vanguard, and SigFig.

Is Fidelity Safe?

Fidelity security is top priority. The firm safeguards your account with encryption, firewalls, secure email and 24/7 system surveillance. Fidelity also offers 2-factor authentication and money transfer lockdown which blocks your account from unauthorized withdrawals.

For additional Fidelity security you may use Fidelity MyVoice technology so that your voice pattern is recognized and verified. Finally, security text alerts are available so that you’re informed when specific transactions or updates are made to your account.

Fidelity Spire App

Although not technically part of the Fidelity Go robo-advisor, the Fidelity Spire App is a new tool to help you manage and master your money.

The Spire App helps you set goals, save, and invest.

The best part of the app is its ability to help you keep your money plans organized. You set goals and the app helps you to meet and keep track of your financial priorities.


Is Fidelity Go good for beginners?

With the simple interface, no minimum investment amount, and fee-free investing for users with less than $10,000, we believe that Fidelity Go is good for beginners.

Is Fidelity Go a Roth IRA?

No, Fidelity Go is a digital investment manager. But, you can open a Roth IRA account with Fidelity Go.

Is Fidelity of Schwab better?

When comparing the robo-advisors, we prefer Schwab Intelligent Portfolios. Schwab has zero investment management fees and more diverse investments. Although Schwab’s $5,000 investment minimum may be prohibitive for smaller investors. In that case, Fidelity Go is a reasonable alternative. Although you might consider SoFi Invest which offers zero investment management fees and no minimum to invest.

Pros and Cons


  • $10,000 fee-free investment management is great! The $3.00 per month fee is also affordable for smaller investors.
  • You can maintain a self-directed investment account with Fidelity, and allocate a portion to Fidelity Go to be professionally managed.
  • We like the addition of Fidelity Spire to the platform to help keep users honest with their financial plans.
  • No-fee Flex funds are a plus.
  • The hybrid Personalized Planning and Advice is good for existing customers.


  • Fidelity Go’s annual management fee of 0.35% for accounts worth over $50,000 is at about the middle level for robo-advisors, but much higher than major competitors, such as Wealthfront and Betterment (both 0.25%), while SoFi Invest Automated Investing and Charles Schwab Intelligent Portfolios both offer their services with zero management fees. Although you will pay the underlying fund management fees which are in the .09% range.
  • Fidelity Go is set up to accept transfers of cash and cash equivalents only. You cannot transfer securities into your account, though this is hardly unusual for robo-advisor accounts.
  • Fidelity Go doesn’t offer an automatic tax-loss harvesting feature.
  • The Fidelity robo-advisor offers fewer account types than most competitors including Betterment, Wealthfront and Personal Capital.
  • Unlike other robo’s Fidelity asks you to select your risk score, versus presenting scenarios that will help them determine your level. This is okay for more insightful investors, but not great for newbies.

Fidelity Go Robo-Advisor Review Wrap Up

Fidelity Go is a decent robo-advisor choice if you like investing through a large investment brokerage, like Fidelity Investments. That gives you the ability to take advantage of professional investment management, while also preserving the option for self-directed investing with a regular Fidelity brokerage account. Fidelity Go’s fees are great for small investors. Although larger investors have lower fee robo-advisor options.

Schwab Intelligent Portfolios charges zero management fees and when you add in their ETF fees, the total robo-advisor investment cost is lower at Schwab than Fidelity.

We like Fidelity Go as a basic robo-advisor, especially for existing Fidelity customers and newbies.

Although, there are less expensive robo’s with greater diversification and features.

Fidelity Go has enough advantages in its favor to merit consideration. Check out Fidelity Go’s website and see if the platform will work for you.

Bonus:  Free Robo-Advisor Comparison chart (no sign up required).Find out how Fidelity Go stacks up against the robo-advisory competition.

Fidelity Go Alternatives

Betterment vs Fidelity Go vs M1 Finance

FeaturesBettermentFidelity GoM1 Finance
OverviewA goals based automated investment advisor. Offers a variety of human financial planning options.Automated investment management robo-advisor platform with access to fee- free Fidelity Flex mutual funds and the Fidelity Investment Company’s services.Free robo-advisor with opportunity to customize investments.
Top FeaturesGoal-based investment management. Rebalancing. Tax-loss harvesting. SRI, smart beta + income portfolios. Human financial advisor access.Part of the Fidelity Investments family, giving you access to all that the company offers. Automated investment management. Annual Strategic Review.1000's of investments vehicles. Choose your own investments or pick from pre-made investment portfolios. Borrowing available.
Free ServicesFree investment management promotionN/ANo management fees. Includes free rebalancing + buying and selling securities.
Fee StructureDigital-0.25% AUM Premium-0.40% AUMUp to $10,000 free investment management. $10,000 to $49,999 - $3 per month. Over $50,000 - 0.35% aumZero fees for investment management.
Accounts AvailableSingle + joint taxable brokerage. Roth, traditional, rollover + SEP IRA. Trust.Single + joint taxable brokerage accounts; Traditional, Roth + rollover IRAs.Single + joint taxable brokerage. Roth, traditional, rollover + SEP IRA. Trust. Business accounts.
Investment FundsLow-cost, commission-free ETF from diverse asset classes. Smart beta, income and socially responsible investing available.Zero-fee Fidelity Flex mutual funds from basic asset classes.1000's of stocks and funds
Contact & Investing AdvicePhone M-F and Email-24/7. Financial advisor access.Phone and Live Chat 8 a.m. to 8 p.m. ET, M-FPhone M-F and Email-24/7
Minimum Investment AmountThere is no minimum investment amount required for Digital. $100,000 required for Premium. There is no minimum investment amount required.$100

Go directly to the robo-advisor websites:


Disclosure: Please note that this article may contain affiliate links which means that – at zero cost to you – I might earn a commission if you sign up or buy through the affiliate link. That said, I never recommend anything I don’t believe is valuable.

2 thoughts on “Fidelity Go Review 2021 – Expert Analysis of Fidelity Robo-Advisor”

    1. Hi John, I don’t know your financial situation or you comfort with investing so I clearly can’t advise you. In general, I lean towards lower fees and prefer low fee robo-advisors (thus the website 🙂 ). But, I would ask myself, what are you getting for 1%? When you pay a 1% fee, your investment return is automatically reduced by a percent, straight out of the gate.

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