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Fidelity eyes robo-advising
Fidelity Investments is testing investment robots in attempts to keep up with the competition.
Fidelity Go, an automated investing platform, is currently only available to a few hundred Fidelity employees, reports the New York Times. A small number of customers will be invited to test the product in early 2016, before it goes public.
Much like competing platforms from Vanguard, Schwab, or Betterment, Fidelity Go has users fill out a questionnaire about investment goals and risk tolerance before suggesting low-cost investment options. The program is free now, but will eventually charge a fee, likely 0.1% to 0.2% annually plus mutual and exchange traded fund costs.