Note from the CEO: Well, yesterday we ran a story that Raymond James would NOT launch a robo-advisor initiative and here we are today reporting that Fidelity WILL. Using the name GO (like in “go up stocks” or “go to H***” when they go down), Fidelity says it is not an algorithm but a digitally managed account (??). Okay, whatever.
“One more traditional broker is throwing its hat into the robo-advisor ring: Fidelity has announced the launch of Fidelity Go, a new digital advice offering. The company has been quietly testing the service for the last six months with a group of 1,000 investors.
The service uses Fidelity index funds to build portfolios that are managed by a team of investment managers, not computers. The digital component comes in when investors are matched with portfolios: Similar to other online advisors, Fidelity Go makes recommendations based on investors’ answers to a series of questions designed to take the pulse of their risk tolerance, financial situation and goals.”