Fidelity Go VS Betterment

Introducing two heavyweights in the world of robo-advisors: Fidelity Go and Betterment. These financial powerhouses have been revolutionizing the way people invest, providing a simplified and automated approach to wealth management. In this comprehensive comparison, we delve into their histories and highlight the key differences between these industry leaders.

First, let's take a trip down memory lane to explore the origins of Fidelity Go. Back in 1946, a visionary named Edward C. Johnson II founded Fidelity Investments with a mission to offer individuals access to the investment world. Over the years, Fidelity grew into one of the largest mutual fund companies globally, managing trillions of dollars in assets. Fast forward to 2016, and Fidelity launched Fidelity Go as their entry into the robo-advisor market.

On the other side of the ring, we have Betterment. Born out of a desire to democratize investing, Betterment was established in 2008 by Jon Stein. Recognizing the need for accessible and affordable investment options, Stein sought to create a platform that would empower individuals to take control of their financial futures. Today, Betterment is regarded as one of the pioneers in robo-advisory services, boasting an impressive user base and an array of innovative features.

Now that we've explored their historical foundations, let's dive into what sets Fidelity Go and Betterment apart.

1. Account Minimums:

Fidelity Go requires a minimum investment of $10,000 to get started, while Betterment has no minimum deposit requirement. This makes Betterment more accessible for those who are just beginning their investment journey or have limited funds available.

2. Fees:

When it comes to fees, both platforms charge a management fee based on a percentage of your invested assets. Fidelity Go levies a flat fee of 0.35%, whereas Betterment offers tiered pricing starting at 0.25% for their Digital plan and 0.40% for their Premium plan, which includes additional features like access to certified financial planners.

3. Investment Options:

Fidelity Go primarily utilizes Fidelity Flex Funds, which are a mix of actively managed funds and index funds. These funds are managed by Fidelity's investment team. In contrast, Betterment employs a strategy known as Modern Portfolio Theory (MPT), which involves creating diversified portfolios using low-cost ETFs (Exchange-Traded Funds) from various asset classes.

4. Human Touch:

While both platforms offer algorithm-driven investment strategies, Betterment takes it a step further with their Premium plan. This plan provides users with unlimited access to certified financial planners who can offer personalized advice and guidance on specific financial goals or concerns.

5. Tools and Features:

Betterment offers a range of additional tools such as tax-loss harvesting and automatic rebalancing, which can help optimize investments and potentially reduce tax liabilities. Fidelity Go, on the other hand, focuses more on simplicity and ease of use, with fewer bells and whistles.

Ultimately, the choice between Fidelity Go and Betterment depends on an individual's specific needs, preferences, and investment goals. Whether you prefer the trusted name of Fidelity or the innovative features of Betterment, these platforms provide an efficient way to enter the world of investing with confidence.

Fidelity Go

  1. You can access your account and track your progress through the Fidelity Go mobile app or website.
  2. Fidelity Go charges an annual advisory fee, which is based on a percentage of your invested assets.
  3. There are no additional trading fees or commissions for buying or selling ETFs within the portfolio.
  4. You have the flexibility to change your risk tolerance at any time.
  5. The service monitors the market and makes adjustments to keep your investments on track.
  6. You can set up automatic deposits to contribute regularly to your Fidelity Go account.
  7. Fidelity Go automatically rebalances your portfolio to maintain its target allocation.
  8. The portfolios are designed based on your risk tolerance and investment goals.
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  1. You can start investing with as little as $10 through Betterment.
  2. Betterment employs bank-level security measures to protect your personal and financial information.
  3. You can access your Betterment account from anywhere using their mobile app or website.
  4. With Betterment, you have the opportunity to grow your wealth over time with a user-friendly and automated investment approach.
  5. You can set financial goals within the platform and track your progress towards achieving them.
  6. Betterment charges a management fee based on the amount you invest, starting at 0.25% annually.
  7. The platform offers automatic deposits and withdrawals, making it easy to contribute or withdraw funds as needed.
  8. Betterment uses advanced algorithms to create personalized investment portfolios for you.

Fidelity Go Vs Betterment Comparison

In Sheldon's slightly condescending tone, "Clearly, the winner between Fidelity Go and Betterment is Fidelity Go. It has a more comprehensive range of investment options and features that appeal to Sheldon's highly analytical mind."