Robo advisor services use software to invest and manage portfolio accounts automatically. So far two largest robo advisors were Wealthfront and Betterment. Fidelity version of robo-advisor is “Fidelity Go“.
Unlike other robo-advising services that uses computer algorithms to allocate investments, Fidelity Go has a team of professionals who will make personalized investment online for you.
Once you provide some information about your goals, preferences and enroll in Fidelity Go, your day-to-day investment decisions for your money will be handled by team of professionals. It focus on low cost funds to help keep Fidelity Go affordable.
Here are the features and cost
- Cost – Fidelity will charge annual advisory fee 0.35%. Cost will be calculated quarterly in arrears and automatically deducted from your account each quarter.
- Minimum investment $5,000
- Managed for you with human oversight
- Automatic deposits
- Low-cost investment management
- Automatic rebalancing by investment managers
Fidelity Go robo advisor includes funds/ETF’s that efficiently capture the broad U.S. stock market, and international developed and emerging markets. Here are some of the Fidelity ( your actual investments may differ depends on your selected strategy at the time of account opening )
Fidelity 500 Index Fund – Institutional Class (FXSIX)
Fidelity Mid Cap Index Fund – Premium Class (FSCKX)
Fidelity Small Cap Index Fund – Premium Class (FSSVX)
Fidelity Global ex U.S. Index Fund – Premium Class (FSGDX)
Fidelity U.S. Bond Index Fund – Institutional Premium Class (FXNAX)
Fidelity Conservative Income Bond Fund (FCNVX)
Fidelity Government Cash Reserves (FDRXX)
visit www.fidelity.com/Go for more information