Is Fidelity Go a Low-fee Robo-advisor? A Comprehensive Review of its Safety

by | Aug 14, 2023 | Fidelity IRA | 1 comment

Is Fidelity Go a Low-fee Robo-advisor? A Comprehensive Review of its Safety




Fidelity Go Review – Is It A Low-fee Robo-advisor? (Is It Safe?). Welcome to my in-depth review of Fidelity Go.

Overview.
Created in 2016, Fidelity Go is a robo-advisor that gives its users a hassle-free investment experience, with its target audience being Fidelity clients, beginners, and investors who prefer an automated, hands-off experience. It focuses on easing the investment process by streamlining each client’s portfolio decisions and allowing users to access its vast resource base. It is best known for its minimal investment costs and user-friendly website that allows you to figure out your financial goals quickly. Due to its approach, it currently has a user base of more than 83 million and manages assets of more than $10 trillion.

Other subtopics covered:
Is Fidelity go a good program?
What is the average annual return on Fidelity go?
Can you take money out of a Fidelity Go account?
What does Fidelity go do?
What is fidelity go?
Does fidelity go automatically invest
Fidelity go review from investors
How does fidelity go work
Fidelity go account performance
Is fidelity go a good investment account?

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Fidelity Go Review – Is It A Low-fee Robo-advisor? (Is It Safe?)

As technology continues to revolutionize the financial industry, robo-advisors have become increasingly popular among investors. These automated digital platforms provide users with the convenience of having their investment portfolios managed by algorithms, usually at a lower cost compared to traditional financial advisors. Fidelity Go is one such robo-advisor offered by Fidelity Investments, a well-established name in the investment world. But is Fidelity Go truly a low-fee option? And more importantly, is it safe?

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Fidelity Go is designed to offer investors a simplified and automated approach to investing with a low minimum investment requirement of $10,000. With a diverse range of investment choices, including exchange-traded funds (ETFs) and a strategic asset allocation strategy, Fidelity Go aims to provide investors with a balanced portfolio tailored to their risk tolerance and financial goals.

In terms of fees, Fidelity Go charges an annual advisory fee of 0.35% of assets under management (AUM). While this fee is relatively competitive within the robo-advisory industry, it may not be the lowest available. Several other robo-advisors charge lower fees, even dipping below the 0.25% mark. So, while Fidelity Go can be considered a low-fee option, there are alternatives that may provide an even more cost-effective solution.

Regarding safety, Fidelity Investments is a trusted and reputable financial institution that has been in operation for over 70 years. As one of the largest asset managers in the world, Fidelity Go benefits from the company’s robust security measures and expertise. Fidelity Investments also insures its brokerage accounts through the Securities Investor Protection Corporation (SIPC), offering up to $500,000 in coverage for each account type, including up to $250,000 in cash.

It is important to note, however, that while Fidelity Go has measures in place to secure client accounts, there is always a certain level of inherent risk in any investment. The performance of the underlying investments within Fidelity Go’s portfolios is subject to market fluctuations, and individual investors may experience gains or losses depending on market conditions. As with any investment, it is crucial to carefully consider your risk tolerance and financial goals before proceeding.

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One notable advantage of Fidelity Go is its integration with other Fidelity products and services. If you already have a Fidelity account or are interested in exploring other investment options offered by the company, Fidelity Go seamlessly integrates with those accounts, making it easier to manage your overall financial picture.

Furthermore, Fidelity Go offers investors a user-friendly interface, accessible through both web and mobile applications. The platform provides comprehensive account information, clear performance tracking, and easy access to customer support.

In conclusion, Fidelity Go can be considered a low-fee robo-advisor, but there are alternatives in the market that offer even lower fees. As for safety, Fidelity Investments is a well-established financial institution with robust security measures in place. However, it is important to remember that investing in Fidelity Go, like any investment, carries inherent risks. It is advisable to carefully evaluate your own investment needs and consult with a financial professional before making any investment decisions.

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1 Comment

  1. DrunkOnMAGATears

    I'm dropping $3,000 into Go and will invest $30 per month. I'll keep ya posted….

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