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Fidelity Go® FAQs
Fidelity Go®, our robo advisor, is a digital financial service that makes investing quick, easy, and affordable. Start by answering a few questions online, and then we build a strategy to meet your needs. From there, we handle the investing so you don't have to. There's no minimum to open an account, and once your account reaches $25,000 you'll have access to 1-on-1 financial coaching.
About Fidelity Go®
How does Fidelity Go® work?
With Fidelity Go® you’ll start by telling us about yourself and your individual financial goals—then we’ll suggest an investment strategy for your account. We'll then manage your money in accordance to your goals, helping you track your progress along the way. Once your account is open, you can add money to it. We'll start by offering you the chance to make an initial deposit, in the same amount you told us you were going to start with when you created your profile. If you told us you were going to make recurring monthly deposits, we'll prompt you to add those next. But don't worry if you want to put those off until later—you can set those up at any time.
We'll then monitor and adjust your investment strategy over time based on the updates you provide to your information and the other information we may have on file for your account.
Personal financial coaching:
All customers have access to our online planning tools, and once your account reaches a balance of $25,000, we have trained advisors to help guide you through your options. We’ll provide you with support to help you stay in control of your finances.
Whether you need help creating a budget, paying down debt, retirement planning, or investing for your future, you’ll have the comfort of knowing that 1-on-1advice from Fidelity is just a coaching call away.
Life takes it turns—and we want to know all about them. Each year, we’ll check in with you to ask if anything major in your life has changed. If necessary, we’ll adjust your investment strategy to fit with your new situation
And remember, this is a relationship. So, as your needs change, let us know and we can help by making changes consistent with your new goal. You don’t need to wait until your annual review to contact us!
Is Fidelity Go® right for me?
It could be. Start by asking yourself these questions:
- Do you want a team of professionals to choose your investments for you and make changes to your account as needed, based on market conditions?
- Do you want your money invested in a portfolio of low-cost investments?
- Are you willing to pay a fee for someone to make investments decisions on your behalf?
- Are you comfortable taking care of your account online, including providing information about yourself, opening your account, and tracking your investments?
What types of Fidelity Go® accounts are available?
The following types of accounts are available through Fidelity Go®:
- Taxable (individual/joint)
- Traditional IRA
- Roth IRA
- Rollover IRA
- Health savings account (HSA)
How does coaching work with Fidelity Go®?
Once your Fidelity Go® account reaches $25,000 you will have access to unlimited 30- minute coaching calls on specific topics with our trained advisors.
On your 1-on-1 phone calls with a Fidelity advisor, you'll be able to discuss a financial plan for the future. During your conversations, an advisor will get to know what's important to you, work with you to prioritize your financial goals, and explain the importance of creating a financial plan to help make progress toward reaching them. You'll also get clear next steps so that you have tasks to complete and milestones to reach between each call.
Fidelity Go® HSA Accounts are not eligible for coaching.
About robo advisors
What's a robo advisor?
A robo advisor is an affordable digital financial service that uses technology to help automate investing based on information investors provide about themselves and their financial situation. "Robo" refers to these services being almost completely digital, and that computers, smartphones, or tablets are used to access and interact with your accounts. "Advisor" speaks to the investment advisors that offer digital advice and account management services, often for a lower fee than traditional investment advisory services.
How do robo advisors work?
Robo advisors use various pieces of information about an investor to suggest an investment strategy. In most cases, you'll first be asked some questions online or through an app about yourself and your current financial situation. A robo advisor then uses that information to suggest an investment strategy for your financial goals. Investment strategies can include a mix of different types of investments and many robo advisors include account rebalancing services to help your investments stay in line with your financial goals and preferences.
What's a hybrid robo advisor?
A hybrid robo advisor typically refers to a robo advisor that includes access to investment adviser representatives, whether via telephone or in person. In the case of Fidelity Go®, we combine our digital offering with access to 1-on-1 financial planning and coaching via telephone for clients that invest at least $25,000 in a Fidelity Go account. For more information on coaching see "How does coaching work with Fidelity Go®?"
What you'll pay
How much does Fidelity Go® cost?
Fidelity Go® offers tiered pricing based on your account balance. You'll pay no advisory fee for a balance under $25,000, or 0.35% per year for any balances of $25,000 and over. Either way, there are no trading fees, transaction fees, or rebalancing fees.
How do we calculate the fees you'll pay with a Fidelity Go® account?
Fidelity Go® offers tiered pricing based on your account balance. You'll pay no advisory fee for a balance under $25,000, and 0.35% on any balance of $25,000 or more. There are no trading fees, transaction fees, or rebalancing fees. Accounts invest in zero expense ratio Fidelity mutual funds that do not charge management fees (or with limited exceptions, fund expenses).
How we manage your money
Can my Fidelity Go® account fluctuate in value?
The investments in your Fidelity Go® account are subject to the ups and downs of the market. All investments, including Fidelity Go, involve the risk of loss. You could lose money investing with Fidelity Go.
What does rebalancing investments mean?
Rebalancing investments is the process of buying and selling investments to help keep a portfolio in line with an investment strategy.
What is smart automation?
The phrase "smart automation" describes the work the Fidelity Go® team of money managers does to make adjustments to your investment strategy and keep your investments on track, so you don't have to.
What kinds of investments can I expect to find in my Fidelity Go® account?
Your account will hold a combination of Fidelity Flex® mutual funds. These funds generally hold domestic stocks, foreign stocks, bonds, or short-term investments. Depending on your investment strategy and your account, we'll choose which funds we think will help you meet your goals.
What are Fidelity Flex® funds?
Fidelity Flex® funds are a lineup of Fidelity mutual funds that have zero expense ratios, and include proprietary active and passive funds. Flex funds are currently available only to certain fee-based accounts offered by Fidelity, like Fidelity Go®. Unlike many other mutual funds, the Flex funds do not charge management fees or, with limited exceptions, fund expenses. Instead, a portion of the advisory fee you pay is allocated to access the Flex funds in which your account will be invested.
Can I choose the investments for my Fidelity Go® account?
You may not buy and sell individual investments in your Fidelity Go® account. By enrolling in Fidelity Go you turn the day-to-day management of your investments over to a team of investment professionals.
However, you are entitled to place reasonable restrictions on the management of your account. Please contact us at 800-343-3548 for additional details.
Who will be managing my Fidelity Go® account?
The day-to-day investment and trading decisions in your Fidelity Go® account will be handled by Strategic Advisers LLC, a registered investment adviser and a Fidelity Investments company.
Getting started with Fidelity Go®
Who can open a Fidelity Go® account?
You must be at least 18 years old and a resident of the US to open a Fidelity Go® account.
What's the minimum initial investment to open a Fidelity Go® account?
There is no minimum initial investment to open a Fidelity Go account! Once your account hits $10 we'll start investing for you according to the investment strategy you've chosen. The minimum account balance to access financial coaching with our trained advisors is $25,000.
Are there limits to the amount of money I can add to my Fidelity Go® account?
Depending on the type of Fidelity Go® account you open, there may be limits on how much money you can add into it each year:
- For taxable accounts, you can deposit as much money as you'd like; however, online contributions are currently limited to $250,000 per day. If you'd like to start with an amount greater than this, please call a Fidelity investment professional at 800-343-3548.
- For tax-advantaged accounts, the amount you can add is subject to the IRS's annual contribution limits. For IRAs, including Roth and traditional IRAs, the limit is $6,000. If you're age 50 or older, you can contribute an additional $1,000 annually. As of 2020, due to the SECURE Act, you can continue to contribute to your traditional IRA as long as you are still working.
- For health savings accounts (HSAs), the 2022 IRS contribution limits are $3,650 for individual coverage and $7,300 for family coverage. For 2023, the IRS contribution limits for HSAs are $3,850 for individual coverage and $7,750 for family coverage. If you're 55 or older during the tax year, you may be able to make a catch-up contribution of up to $1,000 per year. Your spouse can also make a catch-up contribution if they're 55 or older, but they'll need to open their own HSA.
- Rollover and IRA transfer amounts are not subject to contribution limits, but certain HSA rollovers may count toward them.
How long does it take to open a Fidelity Go® account?
Fidelity Go® uses an online account application, which should only take a few minutes to complete. Assuming everything is in good order, once you successfully complete the application, your new account number will be generated.
Can I convert an existing Fidelity brokerage or retirement account to a Fidelity Go® account?
If you have an eligible Fidelity brokerage or retirement account, you can convert it to Fidelity Go®. When converting an account, you will retain your existing account number, along with other features like beneficiary designations, automatic deposits, and automatic withdrawals, if applicable.
If you choose to open an account, we’ll display any Fidelity accounts that are eligible to be converted. Only certain accounts can be converted at this time.
Individual retirement accounts (IRAs)
What is a Roth IRA ?
A Roth IRA is a tax-advantaged retirement account where you make after-tax contributions and withdraw those contributions tax-free and penalty-free at any time and for any reason. You can withdraw earnings tax-free and penalty-free once the 5-year aging requirement is satisfied and are age 59½ or older, or meet one of several exemptions (disability, qualified first-time home purchase, or death among others).
What is a rollover IRA?
A rollover IRA is a retirement account that allows you to move money from your former employer-sponsored plan to an IRA while keeping your money's tax-deferred status.
How is a Roth IRA different from a traditional IRA?
With a Roth IRA, you contribute money that's already been taxed (that is, "after-tax" dollars). Any earnings in a Roth IRA have the potential to grow tax-free as long as they stay in the account. Withdrawals of earnings from Roth IRAs are federal income tax-free and penalty-free if a 5-year aging period has been met and the account owner is age 59½ or over, disabled, or deceased. Roth IRAs are not subject to required minimum distribution (RMD) rules during the lifetime of the original owner, so you can leave your assets in the Roth IRA where they have the potential to continue to grow.
With a traditional IRA, contributions can be made on an after-tax basis, or a pre-tax (tax-deductible) basis if certain requirements are met. Any earnings in the traditional IRA are tax-deferred as long as they remain in the account. Withdrawals of pre-tax money are subject to ordinary income tax when withdrawn. Your first RMD from a traditional IRA is required no later than April 1 of the year following the year in which you turn age 72. If you wait until April 1, you will then be required to take your second distribution by the end of that year.
For both types of IRAs, distributions before age 59½ may be subject to both ordinary income taxes and a 10% early withdrawal penalty. For a detailed comparison, view the traditional vs. Roth comparison table.
How much can I contribute to my Roth IRA?
In 2021 and 2022, you can contribute a maximum of $6,000 to your Roth IRA if you’re under age 50, or $7,000 if you’re age 50 or over.
What is my traditional IRA contribution limit for this year?
In 2022, you can contribute a maximum of $6,000 to your traditional IRA if you're under age 50, or $7,000 if you're age 50 or over.
Health savings accounts (HSAs)
How do I spend money in my Fidelity Go® HSA?
Even though Fidelity Go® HSAs are intended for investing goals of 3 years or longer, you can still reimburse yourself for qualified medical expenses you pay out of pocket by submitting a withdrawal request. When you do, we'll sell securities in your account for you. After the money has settled, which can take up to 10 business days, we'll send it to you by check, electronic funds transfer (EFT), or transfer of funds to another account.
If you also have a self-directed Fidelity HSA, you can use a debit card to pay for qualified medical expenses by transferring money over from your Fidelity Go HSA.
Can I use cash for short-term medical expenses and a Fidelity Go® HSA for long-term expenses?
You can use cash in a self-directed Fidelity HSA for short-term qualified medical expenses. This way you have quick access, through Fidelity Bill Pay and your debit card, to the money needed to reimburse yourself for out-of-pocket expenses.
Fidelity Go® is a managed account designed for use toward investment goals with a long-term horizon of 3 years or more.
Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
System availability and response times may be subject to market conditions.
Diversification and asset allocation do not ensure a profit or guarantee against loss.
The images, graphs, tools, and videos are for illustrative purposes only.
Fidelity Go® provides discretionary investment management, and in certain circumstances, non-discretionary financial planning, for a fee. Advisory services offered by Fidelity Personal and Workplace Advisors LLC (FPWA), a registered investment adviser. Discretionary portfolio management services provided by Strategic Advisers LLC (Strategic Advisers), a registered investment adviser. Brokerage services provided by Fidelity Brokerage Services LLC (FBS), and custodial and related services provided by National Financial Services LLC (NFS), each a member NYSE and SIPC. FPWA, Strategic Advisers, FBS and NFS are Fidelity Investments companies.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917