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 Ally Invest Advisors 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. Both Fidelity Go and Ally Invest Advisors share a rating of 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. Neither robo offers tax-loss harvesting. To make sure you ready for retirement and will have enough money saved, running a calculator is required. Fidelity Go nor Ally Invest Advisors offers an advanced retirement calculator. Setting financial goals and tracking them is also a feature customers desire. Both Fidelity Go and Ally Invest Advisors 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 offers external accounts analysis while Ally Invest Advisors does not.
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 Ally Invest Advisors both offer live chat support.
Overall, Fidelity Go takes the upper hand with 4.00 stars over Ally Invest Advisors's 3.50 stars. And, as far as individual category awards go, both Fidelity Go and Ally Invest Advisors found themselves without awards for Best in Class - Cost, Best in Class - Investment Approach, Best in Class - Platforms & Tools and Best in Class - Customer Service.