We spent over 100 hours testing robo-advisors, opening and funding an account with each robo to acquire a true client experience and find the best robo advisors
. In this comparison, we will compare Fidelity Go vs Wealthfront to see which robo-advisor is better.
First, let’s take a look at the fees of these two investment advisors. Cost is broken down into both the annual management fee charged each year as well as the expense ratios charged by the ETF holdings themselves. Wealthfront received a rating of 4.50 stars over Fidelity Go's 4.00 stars.
Looking at both robo-advisors, we can also explore their features. Wealthfront has tax-loss harvesting, Fidelity Go doesn't. For running predictions on retirement, clients will want to use a retirement calculator. Wealthfront makes an advanced retirement calculator available to clients, while Fidelity Go does not. Tracking personal financial goals can also be important. Fidelity Go and Wealthfront both offer goal tracking. Finally, the ability to import and aggregate third-party financial accounts for holistic analysis can be particularly useful. Both Fidelity Go and Wealthfront offer external accounts analysis.
Lastly, tech savvy Millennials may find it valuable to have access to customer service through phone, email, and live chat. However, not every robo-advisor offers live chat support. Fidelity Go makes live chat support available to clients, while Wealthfront does not.
Overall, Wealthfront takes the upper hand with 5.00 stars over Fidelity Go's 3.50 stars. And, as far as individual category awards go, Wealthfront posted awards Best in Class - Cost, Best in Class - Investment Approach and Best in Class - Platforms & Tools, while Fidelity Go found itself with none of these.