Fidelity offers fee-only financial advisors, but you have to ask for them specifically
Fidelity does employ advisors who charge fees rather than earning commissions on products they sell you. However, Fidelity is primarily a brokerage and asset manager that makes money multiple ways — including commissions — so fee-only advisors are not the default option. You will need to request them by name and understand what "fee-only" means at Fidelity, because the term covers different service models with different costs.
The confusion exists because Fidelity uses overlapping titles. An advisor at Fidelity can be commission-based, fee-based (a mix of both), or fee-only. A fee-only advisor at Fidelity charges you directly for information and does not earn commissions when you buy or sell investments. But Fidelity itself still profits when your money sits in a Fidelity account, because they earn spreads on trades and interest on cash balances.
Key Takeaways
- Fidelity's fee-only advisors charge you a flat fee, hourly rate, or percentage of assets under management, and do not earn commissions on the products they recommend.
- You must specifically request a fee-only advisor; Fidelity's default recommendation engine and branch advisors often operate on commission or fee-based models.
- Fidelity offers fee-only information through its Fidelity Go robo-advisor (0.35% annually for accounts under $25,000, then lower rates), through hourly advisors, and through its wealth management division for larger accounts.
- Fee-only advisors at Fidelity are not fiduciaries by default; you should confirm in writing that your advisor is acting as a fiduciary before you hire them.
- If you want a fee-only advisor with no Fidelity account requirement, you may need to look outside Fidelity to independent registered investment advisors.
Fidelity's three fee-only service tiers
Fidelity Go is Fidelity's robo-advisor service and charges 0.35% per year on accounts under $25,000, then 0.25% on accounts from $25,000 to $600,000, and 0.15% on accounts over $600,000. You build a portfolio based on your age and risk tolerance, and the service rebalances automatically. There is no human advisor involved unless you pay extra for occasional check-ins. This is the lowest-cost entry point if you want fee-only management at Fidelity.
Fidelity Wealth Services is for accounts with $250,000 or more and pairs you with a dedicated advisor who charges a percentage of assets under management — typically 0.50% to 1.00% annually, depending on account size and complexity. These advisors are salaried Fidelity employees and do not earn commissions. They can manage your entire financial picture, including tax strategy and estate planning.
Hourly advisory is available through Fidelity's planning services. You pay by the hour (rates vary by location and advisor experience) for a one-time plan or ongoing consultations. This model works if you want information on a specific question — like whether to roll over a 401(k) — without committing to ongoing management fees.
How to request a fee-only advisor at Fidelity
Call Fidelity's main line and explicitly ask to speak with a fee-only advisor. Do not say "I want financial information" — that will route you to the nearest branch, which may not have fee-only staff. Say: "I want to speak with a fee-only advisor about my account." Fidelity's phone representatives know the difference and can transfer you to the right team.
Online, you can start a Fidelity Go account directly without speaking to anyone. If you have $250,000 or more, you can request a Wealth Services consultation through your account dashboard or by calling 1-800-343-3548 and asking for the wealth management team.
For hourly planning, search Fidelity's advisor directory on their website and filter for "fee-only" or "hourly" advisors in your area. Not all branches have hourly advisors available, so you may need to work with someone remotely.
The fiduciary question: what you need to confirm
A fee-only advisor is not automatically a fiduciary — someone legally required to put your interests ahead of their own. Fidelity's fee-only advisors may operate under a fiduciary standard for some services and not others. Before you hire one, ask in writing: "Are you acting as a fiduciary with respect to the information you provide me?" Get the answer in an email or signed document.
If the answer is "only when managing your investments" or "only for retirement accounts," that is a partial fiduciary relationship. You want to know the limits. If the advisor says they are a fiduciary for all information, ask them to confirm that in writing as part of your service agreement.
When Fidelity's fee-only advisors may not be the right fit
Fidelity's fee-only advisors work best if you already have money to invest or if you want to consolidate accounts at Fidelity. If you have less than $25,000 to invest, Fidelity Go's 0.35% fee is reasonable, but you are paying for automation, not personal information. If you have $25,000 to $250,000, the hourly model may cost less than Wealth Services' percentage-based fee, depending on how much information you need.
If you want a fee-only advisor with no requirement to keep money at Fidelity, or if you want to work with an advisor who specializes in your specific situation (like a CPA who also advises, or a fee-only advisor who focuses on teachers or small business owners), you will need to look outside Fidelity to independent registered investment advisors. The National Association of Personal Financial Advisors (NAPFA) and the Garrett Planning Network both maintain directories of fee-only advisors who are not affiliated with any brokerage.
What to ask before you commit
Once you have reached a fee-only advisor at Fidelity, ask these questions in writing:
- What is your fee structure, and does it include all services or are there add-ons?
- Are you a fiduciary for all information you provide, or only for certain services?
- Do you earn any compensation from Fidelity beyond your salary or the fee I pay you?
- What is your investment philosophy, and how do you choose funds or securities?
- How often will we meet or communicate, and how do I reach you with questions?
- What happens to my account if I want to leave or if you leave Fidelity?
Write these down and ask for written answers. If an advisor is evasive or says "we will discuss that later," that is a signal to keep looking.
Frequently Asked Questions
Is Fidelity Go truly fee-only?
Yes. Fidelity Go charges you a percentage of your assets and does not earn commissions on the investments it recommends. Fidelity itself profits from the spreads on trades and the interest on cash in your account, but the advisor service itself is fee-only. You are paying for the automated management, not for individual information.
Can I use a Fidelity fee-only advisor if I have accounts at other brokerages?
Fidelity Wealth Services advisors typically manage accounts held at Fidelity. If you have money at other firms, ask the advisor whether they can advise on those accounts or whether you need to move them to Fidelity. Some hourly advisors will work with accounts anywhere, but that varies by advisor.
What is the difference between fee-only and fee-based at Fidelity?
Fee-only means you pay a fee and the advisor earns no commissions. Fee-based means you pay a fee and the advisor also earns commissions on products they sell you. Fidelity's default advisors are often fee-based. Always confirm which model you are getting before you sign up.
Do I need $250,000 to work with a fee-only advisor at Fidelity?
No. Fidelity Go serves accounts of any size starting at 0.35% per year. Hourly advisors have no minimum. Wealth Services requires $250,000, but that is only one option. Start with Fidelity Go or an hourly advisor if you have less.
What if I want a fee-only advisor but do not want to keep my money at Fidelity?
Look for an independent registered investment advisor through NAPFA or the Garrett Planning Network. These advisors are not affiliated with any brokerage and can advise on accounts held anywhere. You will pay a fee directly to them, and they have no incentive to steer you toward any particular firm.