Fidelity Go IRA Review 2024: Features, Fees, and More

Best If You Want

A Fidelity Go account is a great choice for investors looking for expert advice from one of the biggest names in retirement savings. The Fidelity Go robo-advisor is a low-cost solution that makes retirement planning easier for beginning investors. Fidelity’s robo advisor invests primarily in Fidelity Flex funds including asset classes like domestic stocks, foreign stocks, bonds, and short-term investments. This helps give investors a well-diversified retirement profile right from the start. With its $0 account minimum balance and $0 advisory fees for accounts under $25,000, a Fidelity Go portfolio is also a solid pick for investors with lower start-up capital for an initial deposit.

Fidelity Go customers still enjoy the benefits of live financial advice once their account reaches a balance of $25,000 or more. Fidelity’s financial advisor team can help investors tackle regular strategizing conversations like annual reviews of retirement account performance and one-off questions about budgeting, managing debt, investment strategy, achieving financial goals, and more.

Fidelity Go Fees

Most automated accounts charge what’s known as an advisory fee or management fee to manage your portfolio for you. This fee is usually expressed as a percentage of the assets being managed by the financial institution. These fees are paid on a yearly basis. (For example, the fee might be 0.50% per annum.)

A Fidelity Go advisory fee (as well as, your access to live human financial advisors) depends on your account balance. Here’s the pricing structure:

• Accounts under $25,000 aren’t charged an advisory fee and can benefit from one of the best robo-advisors in the business
• Accounts of $25,000 or greater are charged an annual advisory fee of 0.35% per year (e.g. $175/year with a $50,000 account balance) and get access to unlimited one-on-one 30-minute advisory calls
• Accounts with a balance of $500,000 or more may be eligible to work with a dedicated Fidelity representative, a higher tier of advisement services with an advisory fee of 0.50% to 1.50%

Keep in mind that Fidelity’s customer service team is available to every Fidelity customer regardless of the account type they hold. Customer service can be reached by phone, email, or live chat customer support feature with a user-friendly interface.

Fidelity Go Investment Options

To set up your account, Fidelity Go will ask you questions about your financial situation, financial plan, risk tolerance, and preferences. These questionnaires are a common part of setting up a new portfolio management account and help financial institutions customize your portfolio asset allocation. This helps meet your needs at an appropriate risk level while taking into account any tax efficiency goals.

Based on your answers, Fidelity Go will offer you a few suggested portfolio recommendations to review, with various mixes of assets ranging from more conservative (lower-risk) to more aggressive (higher-risk).

From there, your money will be invested primarily in Fidelity Flex mutual funds, and your portfolio will be regularly monitored by a human investment management team, along with automatic rebalancing. Fidelity does not charge any additional rebalancing fees for these services. It’s important to note that a Fidelity Go tax strategy does not include tax-loss harvesting at this time.

Other Features

Fidelity offers key features like its advisory clients access to research and financial planning tools regardless of their level of assets under management. In addition, investing at Fidelity means you may be eligible for other benefits, such as a Fidelity Rewards Signature Visa card. The Signature Visa card comes with a $0 annual fee and can help you earn up to 2% cash back, which can be deposited directly into an eligible Fidelity investment account (including an IRA!).

Fidelity also offers a cash management account that can help you earn higher-than-average interest on your uninvested assets. A cash management account is also available with no management fee or account minimums.

Fidelity Go Limitations

Your portfolio will mainly have Fidelity Flex mutual funds in it, but Fidelity’s 0.35% fee now covers the cost of investing in those funds so you’ll only pay one all-in fee. For those looking to more actively invest in a larger range of asset classes, including options trading, margin trading, cryptocurrency, or fractional shares, Fidelity may not offer the desired level of customization and flexibility. Its lack of tax-loss harvesting as part of its tax strategy may reduce investor returns.

Considering a Fidelity Go IRA?

Fidelity Go is a good option for investors looking for an expertly managed IRA but still want to maintain some autonomy in the mix of investment options chosen. It’s also great for investors looking for a platform that offers the low fees of a robo-advisor who likes the idea of having the account monitored by real people (and eventually working with them one-on-one). Fidelity’s commitment to making investing easy and accessible for everyone is a very good choice for people looking to have their retirement handled at a low cost.

If you’re looking to fund your new Fidelity Go IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) to a Fidelity IRA rollover in just a few minutes.