Introduction
Investing can be a daunting task, especially for those who are new to the world of finance. With so many options available, deciding where to invest your money can be overwhelming. Fortunately, automated investing platforms such as Fidelity Go have made it easier for beginners to start investing. In this article, we will provide a comprehensive review of Fidelity Go and its features.
What is Fidelity Go?
Fidelity Go is an automated investing platform that uses a robo-advisor to manage your investments. It was launched by Fidelity Investments, a well-known financial services company based in the United States. Fidelity Go offers a range of investment portfolios that are tailored to your individual needs and goals.
Features of Fidelity Go
Fidelity Go offers a range of features that make it an attractive option for investors:
- Low Fees: Fidelity Go charges an annual management fee of 0.35%, which is lower than the industry average.
- Customizable Portfolios: Fidelity Go offers a range of investment portfolios that are tailored to your individual needs and goals. You can choose from a range of investment strategies and risk levels.
- Automatic Rebalancing: Fidelity Go automatically rebalances your portfolio to ensure that it stays aligned with your investment goals.
- Mobile App: Fidelity Go has a mobile app that allows you to monitor your investments on the go.
How Does Fidelity Go Work?
To get started with Fidelity Go, you need to create an account and complete a questionnaire that assesses your risk tolerance, investment goals, and time horizon. Based on your answers, Fidelity Go will recommend a portfolio that is tailored to your needs. Once you have selected a portfolio, Fidelity Go will automatically invest your money in a range of ETFs (exchange-traded funds) that are aligned with your investment strategy.
Pros and Cons of Fidelity Go
Pros
- Low fees
- Customizable portfolios
- Automatic rebalancing
- Mobile app
Cons
- Limited investment options
- No human advisor
- No tax-loss harvesting
Is Fidelity Go Right for You?
Fidelity Go is an excellent option for beginners who want to start investing but are unsure where to begin. The platform offers a range of customizable portfolios that are tailored to your individual needs and goals. Additionally, the low fees and automatic rebalancing make Fidelity Go an attractive option for those who want to invest without the hassle of managing their investments themselves.
However, if you are an experienced investor who wants more control over your investments, Fidelity Go may not be the right option for you. The limited investment options and lack of tax-loss harvesting may be a drawback for some investors.
Conclusion
Fidelity Go is an excellent option for beginners who want to start investing without the hassle of managing their investments themselves. The platform offers a range of customizable portfolios that are tailored to your individual needs and goals. Additionally, the low fees and automatic rebalancing make Fidelity Go an attractive option for those who want to invest in a hassle-free manner. However, if you are an experienced investor who wants more control over your investments, Fidelity Go may not be the right option for you.
Overall, Fidelity Go is a reliable and trustworthy platform that provides a great way for beginners to start investing.
