Thanks to opening, funding, and spending over 100 hours testing accounts with eight different robo-advisors
, we know our robos inside and out. For this review, we will compare Fidelity Go vs Schwab Intelligent Portfolios to see which robo-advisor is better.
When it comes to financial advice and selecting an automated advisor, the total annual cost charged is significant. Most sites just look at the annual account management charge assessed. For an accurate comparison, however, you also have to take into consideration the annual management fees (expense ratios) charged by the ETF holdings themselves. We included both. Schwab Intelligent Portfolios's score is 5.00 stars versus Fidelity Go's 4.00 stars.
Features are also important to compare when selecting a robo-advisor. Some robos do a much better job than others with technology. Schwab Intelligent Portfolios has tax-loss harvesting, Fidelity Go doesn't. To make sure you ready for retirement and will have enough money saved, running a calculator is required. Schwab Intelligent Portfolios has an advanced retirement calculator, Fidelity Go doesn't. Setting financial goals and tracking them is also a feature customers desire. Both Fidelity Go and Schwab Intelligent Portfolios offer goal tracking. Finally, syncing data from your other financial accounts (brokers, banks, etc) can open the door to deeper analysis of fees, holdings, and retirement planning. Fidelity Go and Schwab Intelligent Portfolios both offer external accounts analysis.
Lastly, some customers want access to customer service via web friendly methods such as live chat as a compliment to the standard phone and email options. Fidelity Go and Schwab Intelligent Portfolios both offer live chat support.
Overall, Schwab Intelligent Portfolios boasts 4.50 stars versus Fidelity Go's 4.00 stars. And, as far as individual category awards go, Schwab Intelligent Portfolios finished with awards Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools, while Fidelity Go came up with none of these.