Specifically, fedelity go. I know some use wealth managment services, but I am weary of this. I have some money I want to redistribute and make some CD ladders. But I may be willing to see if giving a small chunk to a robo advisor can help me long term. If they do well I can allocate more money to this. So, does anyone one use this, and how does it preform and work. It looks hands off, so I just sign over the $$$ and they manage it for me? I want to add some bonds to my portfolio, but am ignorant in how they work. It looks as if they would assign some money to bonds if I chose a more conservitive type investment plan. Addtionally, if I get a few CD ladders from them will they take the .35 percent off everything I have invested with them, or just what they manage. I never had any one help me invest, and now am faced with needing a little help. Any feedback is good. Lol. Thanks!
Robo advisor
- Thread starter Slim11
- Start date
Alex The Great
Recycles dryer sheets
I do have a small amount of money at Fidelity Go account just to test how it works. Nothing special about it. They invested money between multiple zero cost Fidelity Flex funds: index, bond, international index, income, mid-cap and small-cap. I'm not impressed so far. It is possible to build the same portfolio manually with similar funds. It is free for me because of small money there, but they charge an advisory fee for accounts higher than $25K.
I was using it through my bank. Nice "techno-gimmick" for young people I suppose. It works as described above using a lot of auto-trading. I could have done better just putting the money is SPY's or QQQ's or even in a MMF with today's interest rates. So, I thought it was a bust. I didn't give it 5 or 10 years so maybe it was not a fair comparison but I think I saw the writing on the wall.
Ill trust your opinion. For me it was a cheap way to see if an advisor was worth it. My theory was if they out preformed me, I would consider the more expensive option of full advisor. But I am a skeptic. So never wanted to give 3/4 percent away to give away full control. So this was for me a way to test the waters. As for the feed back, probably not going to do it.
