Fidelity Go vs Schwab Intelligent Portfolios: which robo-advisor is worth it after 50

Fidelity Go vs Schwab Intelligent Portfolios: which robo-advisor is worth it after 50

Two of the biggest robo-advisors take very different approaches to managed investing. Fidelity Go charges a flat fee. Schwab charges nothing but holds a chunk of your money in cash. Here's the real cost comparison.

If you're in your 50s or 60s and your investments have been gathering dust in three different IRAs, the appeal of a robo-advisor is real. Hand over your money, get a portfolio built and rebalanced automatically, stop second-guessing every market drop. The two biggest names in this space, Fidelity Go and Schwab Intelligent Portfolios, both fit this brief, but they make money in opposite ways. That matters.

How robo-advisors actually work

You answer a questionnaire about your age, goals, and risk tolerance. The platform builds a diversified portfolio of low-cost index funds or ETFs that matches your answers. It automatically rebalances when allocations drift, harvests tax losses where applicable, and reinvests dividends. You log in occasionally to confirm nothing's broken.

For most people, especially those who don't enjoy reading 10-Ks or following the Fed, a robo is a sensible upgrade from a savings account and a saner choice than picking individual stocks. The fees are dramatically lower than traditional financial advisors, who typically charge 1 percent or more of assets per year.

Fidelity Go: simple, transparent, slightly expensive

How it works

Fidelity Go uses Fidelity Flex mutual funds (their proprietary no-expense-ratio funds) to build portfolios. Your money is allocated across stocks and bonds based on your risk profile. Rebalancing is automatic. The portfolios are simple, usually 4 to 7 fund holdings, no exotic asset classes.

Fees

Under $25,000: free. Between $25,000 and $50,000: about $3 a month flat fee. Above $50,000: 0.35 percent of assets per year. On a $200,000 portfolio, that's $700 a year. On $500,000, it's $1,750.

There are no fund expense ratios. The Fidelity Flex funds used inside the portfolio have 0 percent management fees, so the 0.35 percent above $50K is the all-in cost.

Minimum to start

Zero to open. $10 to invest. Easy entry.

Strengths

Truly all-in fee, no hidden expense ratios

Fidelity's customer service is consistently the best of the major brokerages

Free for accounts under $25,000, so easy to test

Integrates with the rest of Fidelity (cash management, IRA, brokerage)

Weaknesses

No tax-loss harvesting (a real drawback for taxable accounts)

Fee starts at $50,000 and becomes meaningful at higher balances

Portfolio options are simpler than competitors

Schwab Intelligent Portfolios: "free" but with a catch

How it works

Schwab Intelligent Portfolios uses Schwab-affiliated ETFs to build portfolios across stocks, bonds, real estate, and commodities. Like Fidelity Go, rebalancing is automatic. Schwab also offers tax-loss harvesting on taxable accounts over $50,000, which is a real benefit Fidelity Go doesn't have.

Fees

Zero management fee. No quarterly charges. No fund expense ratios charged on top. Sounds perfect.

The catch is that Schwab requires every portfolio to hold a meaningful percentage in cash (typically 6 to 30 percent depending on risk profile). That cash sits in a Schwab Bank account at low interest rates. Schwab makes money on the spread between what they pay you and what they earn on that cash. For investors with most of their money in stocks and bonds, the cash allocation creates a hidden cost in the form of lower returns.

Estimates vary, but for a moderate-risk portfolio, the cash drag can effectively cost 0.20 to 0.40 percent a year in foregone returns during bull markets. In bear markets, the cash buffer can actually help.

Minimum to start

$5,000. That's a barrier for some smaller investors.

Strengths

Truly $0 management fee, no quarterly charge

Tax-loss harvesting included on taxable accounts over $50,000

More diverse portfolio mix (includes REITs and commodities)

Premium version with CFP access for $30 a month flat, regardless of balance

Weaknesses

Mandatory cash allocation reduces returns in strong markets

$5,000 minimum

The cash drag isn't disclosed prominently

Head-to-head on $250,000

Let's compare what a $250,000 IRA looks like in each over a hypothetical 10-year period at a 6 percent gross return.

FactorFidelity GoSchwab Intelligent PortfoliosStated fee0.35% / year0% / yearReal annual cost$875~$500-$1,000 (cash drag)Minimum$10$5,000Tax-loss harvestingNoYes (over $50K)Portfolio complexitySimpleModerateCustomer serviceExcellentGood

Which one fits, by situation

If you're in your 50s with a taxable brokerage account

Schwab Intelligent Portfolios usually wins because of tax-loss harvesting. The cash drag stings, but the tax savings on harvested losses typically more than offset it for accounts over $100,000. Make sure you understand what TLH is and how it works first.

If your accounts are tax-advantaged (IRA, 401(k))

Fidelity Go is the cleaner choice. No tax-loss harvesting benefit in an IRA anyway. The transparent fee structure is easier to evaluate. And Fidelity's customer service edge matters more as you approach retirement and have more complex needs.

If you're under $50,000 in assets

Fidelity Go is free below $25,000 and $3 a month between $25K and $50K. That beats $0 with a cash drag. Use Fidelity until your balance crosses $50,000, then re-evaluate.

If you want occasional access to a real human advisor

Schwab Intelligent Portfolios Premium is $30 a month flat for unlimited access to a Certified Financial Planner. For someone with a complex situation (multiple accounts, retirement income planning, tax questions), $360 a year for ongoing advice is a remarkable bargain. Fidelity doesn't offer a comparable plan at that price.

The honest take

Both are solid. Both will outperform what most people do on their own. Neither is a financial advisor, and neither will tell you whether you can retire, how much to withdraw, or which Social Security claiming strategy fits. They manage the investment portion of your retirement assets, well, at low cost.

If you're paying a traditional financial advisor 1 percent a year on a $500,000 portfolio, that's $5,000 a year, every year, forever. Either Fidelity Go or Schwab Intelligent Portfolios can deliver 80 to 90 percent of the value at 10 to 20 percent of the cost. For most people, the math is decisive.

What to do next

Open a small test account at one of them, $1,000 or so, just to see how it works. Watch the dashboard for a month. Read the disclosures. If it feels right, transfer in a larger amount.

Don't move all your money at once until you understand the platform. And keep your beneficiaries updated on whichever account you choose. The whole point of automation is that things keep running when you're not watching.

Sources

1. Fidelity, Fidelity Go fees and disclosures, 2026. fidelity.com/managed-accounts/fidelity-go

2. Charles Schwab, Schwab Intelligent Portfolios disclosure brochure, 2026. schwab.com/automated-investing

3. Securities and Exchange Commission, Investor Bulletin: Robo-Advisers. sec.gov/oiea/investor-alerts-bulletins/ib_robo-advisers.html

4. NerdWallet, Best Robo-Advisors of 2026, April 2026. nerdwallet.com/best/investing/robo-advisors