As zero-commission trading and stock-trading apps like Robinhood continue to grow in popularity, Fidelity on Wednesday updated its Fidelity Go robo-advisory fees and introduced the Fidelity Spire mobile app.
Starting Saturday, pricing for Fidelity Go, the robo-advisor service launched in 2016, will be $3 per month for investors with balances between $10,000 and $50,000. Those with balances under $10,000 will not be charged an advisory fee, while clients with balances of $50,000 and up will be charged a 0.35% advisory fee, as all clients are currently.
In comparison, rival Schwab's robo offering, Schwab Intelligent Portfolios, has no advisory fee. Its subscription-based digital investing program, Schwab Intelligent Portfolios Premium, costs $30 a month, and comes with unlimited access to certified financial planners in addition to robo advice.