Fidelity's advisor fees depend on which service you choose

Fidelity offers three main ways to work with an advisor, and each one has a different cost structure. You can use a robo-advisor (automated portfolio management), pay an advisor by the hour, or pay a percentage of the assets they manage for you. The lowest-cost option is the robo-advisor, which charges a flat annual fee. The highest-cost option is typically the percentage-based fee, which grows as your account grows.

The specific amount you pay depends on which Fidelity service you choose and how much money you have invested. There is no single "Fidelity advisor cost" — it varies by service type and account size. Understanding the differences between these options helps you pick the one that fits your situation.

Key Takeaways

  • Fidelity's robo-advisor service charges a flat 0.35% annual fee with no minimum account balance required.
  • Hourly advisors at Fidelity typically charge between $120 and $300 per hour, depending on the complexity of your situation.
  • Fidelity's managed account service charges a percentage of assets under management, usually between 0.30% and 1.00% annually.
  • Some Fidelity accounts waive advisor fees if you meet certain balance or account requirements.

Fidelity's robo-advisor service and its flat fee

Fidelity's robo-advisor is called Fidelity Go, and it charges 0.35% per year on your account balance. This means if you have $10,000 invested, you pay $35 per year. If you have $100,000, you pay $350 per year. The fee is deducted automatically from your account each quarter.

Fidelity Go has no minimum account balance to start, and the fee covers the entire service — portfolio construction, rebalancing, and tax-loss harvesting. You do not speak to a human advisor; instead, a computer algorithm builds and maintains your portfolio based on your age, risk tolerance, and time horizon. This is why the fee is lower than other options.

Hourly advisor fees at Fidelity

If you want to work with a human advisor on an hourly basis, Fidelity advisors typically charge between $120 and $300 per hour. The exact rate depends on the advisor's experience and the complexity of what you need help with. You pay only for the time you use, so a one-hour consultation costs less than an ongoing relationship.

Hourly advisors are useful if you have a specific question — like whether to rebalance your portfolio or how to handle a large inheritance — rather than needing ongoing management. You schedule a meeting, pay for the time spent, and then decide whether you want to continue. There is no lock-in period or ongoing commitment.

Percentage-based fees for managed accounts

Fidelity's managed account service charges a percentage of the total assets the advisor manages for you. This fee typically ranges from 0.30% to 1.00% per year, depending on your account size and the complexity of your situation. Larger accounts often may have access to for lower percentages — for example, you might pay 0.50% on $50,000 but 0.30% on $500,000.

With this service, a Fidelity advisor builds your portfolio, monitors it regularly, and rebalances it as needed. The fee is deducted from your account automatically, usually quarterly. Because the fee is a percentage, it grows as your account grows, which means the advisor has an incentive to make your money grow.

Fee waivers and account minimums

Some Fidelity accounts waive advisor fees if you meet certain conditions. For example, if you have a Fidelity brokerage account with a high balance, you may be able to use certain advisory services without paying the standard fee. Fidelity also sometimes waives fees for customers who have multiple accounts with them or who meet other criteria.

The specific minimums and waiver conditions change, so it is worth asking a Fidelity representative what you may have access to for based on your account balance and account type. Some advisory services have no minimum at all, while others require $25,000 or more to open.

How Fidelity's fees compare to other advisory services

Fidelity's robo-advisor fee of 0.35% is competitive with other robo-advisors like Vanguard Personal Advisor Services and Schwab Intelligent Portfolios. Hourly fees of $120 to $300 are typical for the industry, though some advisors charge more. Percentage-based fees of 0.30% to 1.00% are also in line with what other full-service brokers charge.

The main difference is that Fidelity offers all three options in one place, so you can choose based on your needs and budget rather than being locked into one fee structure. If you only need occasional information, hourly is cheaper. If you want hands-off management and have a small account, the robo-advisor is cheaper. If you have a large account and want ongoing management, the percentage fee may be the best value.

What is and is not included in advisor fees

Advisor fees cover the cost of building and managing your portfolio, but they do not cover transaction costs or fund expenses. If you buy a mutual fund through Fidelity, you pay the fund's expense ratio in addition to the advisor fee. If you trade stocks, you may pay commissions or spreads depending on the account type.

Most Fidelity accounts have no commission on stocks, ETFs, or mutual funds, so the main additional cost is the fund expense ratio itself. This is separate from what you pay the advisor. When comparing total costs, add the advisor fee to the fund expense ratio to see what you are paying overall.

Frequently Asked Questions

Does Fidelity charge a fee just to have an account?

No. Opening and maintaining a Fidelity brokerage account is free. You only pay fees if you use advisory services or if you buy investments that have their own expense ratios.

Can I switch from one fee structure to another?

Yes. You can start with Fidelity Go, switch to hourly advisors, or move to a managed account at any time. There is no penalty for switching, though you should understand how each service works before you change.

What happens if my account balance drops below the minimum?

If you fall below a minimum balance requirement, Fidelity will typically notify you and may move you to a different service tier or waive the minimum temporarily. Contact Fidelity directly to discuss your options if this happens.

Are there any hidden fees I should know about?

Fidelity discloses all advisor fees upfront. The main costs beyond the advisor fee are fund expense ratios, which are listed in each fund's prospectus. There are no hidden charges, though some accounts may have inactivity fees if unused for a long time.

Do I pay the same fee if I have multiple accounts with Fidelity?

It depends on the service. Some advisory services charge per account, while others charge based on your total assets across all Fidelity accounts. Ask your advisor how fees are calculated for your specific situation.