Fidelity Investments offers a broader range of investment options and more accessible customer support, making it suitable for investors who desire diverse investment choices and readily available assistance. Vanguard Digital Advisor, with its lower advisory fees and FDIC insurance, is a strong contender for those prioritizing cost-effectiveness and security for cash holdings, particularly if they are comfortable with a fully digital experience.
| Attribute | Vanguard Digital Advisor | Fidelity Investments |
|---|---|---|
| Minimum Investment Amount | $100 for retail brokerage accounts; $5 for eligible 401(k) plan participant accounts. | Fidelity Go: No minimum to open an account; $10 to start investing. Fidelity Managed FidFolios: $5,000. Fidelity Wealth Services: $50,000. Brokerage Accounts: No minimum |
| Annual Advisory Fee | Approximately 0.15% for an all-index portfolio. For ESG or active/index investment options, the fee ranges from 0.11% to 0.20%. The net advisory fee is waived for the first 90 days for new clients. | Fidelity Go: $0 fee for under $25,000; 0.35%/year for $25,000+. This fee applies to the entire balance, not just the amount exceeding $25,000. Fidelity Wealth Services: Gross advisory fees range from 0.50% to 1.04% based on a minimum investment of $2 million. For assets under $500,000, the fee is 1.50% of assets under management. Fidelity Strategic Disciplines: Gross advisory fees range from 0.20% to 0.49% based on a minimum investment of $2 million. |
| Investment Options (ETFs, mutual funds, etc.) | ETFs and mutual funds. All-Index, Active/Index, and ESG portfolios are available. Tax-exempt municipal bond funds are available. | Stocks, ETFs, mutual funds, options, fractional shares, and even cryptocurrencies. Fidelity offers $0 commission on online U.S. stock, ETF, and options trades. |
| Tax-Loss Harvesting | Yes, Vanguard Digital Advisor offers automated tax-loss harvesting. | Yes. It involves selling investments that are down, replacing them with similar investments. |
| Automatic Rebalancing | Yes, portfolios are evaluated daily and rebalanced when any asset class deviates more than 5% from the target allocation. | Yes, this is a feature of Fidelity Go. |
| Financial Advisor Access | No, Vanguard Digital Advisor is an all-digital service and does not provide access to human financial advisors. However, Vanguard offers access to advisors through its Personal Advisor platform, which has additional fees and a $50,000 minimum. | Fidelity Wealth Services: Provides access to Fidelity representatives and financial planning services. Fidelity Go: Gives access to a one-on-one coach once the balance passes $25,000. Fidelity Wealth Management and Fidelity Private Wealth Management: Clients generally qualify for support from a dedicated Fidelity advisor if they have at least $500,000 invested. |
| Account Types Supported (e.g., taxable, IRA, Roth IRA) | Individual and joint taxable brokerage accounts, traditional, Roth, rollover, SEP, and inherited IRAs, and 401(k)s for eligible plans. Revocable trusts can also be managed. | Individual brokerage accounts, Roth IRAs, Traditional IRAs, Rollover IRAs, inherited IRAs, and Fidelity Cash Management Accounts. |
| Mobile App Availability and Features | Yes, available through Vanguard's website or mobile app. Apple users lauded the app's clean, intuitive interface, but Android customers experience challenges with their version's awkward, incomplete functionality. | Available on Apple and Android devices. Features include trading, real-time quotes, customizable alerts, financial learning resources, and the ability to deposit checks and pay bills. |
| Educational Resources and Tools | Access to calculators, planning tools, debt payoff resources, and fund screeners. | Articles, videos, podcasts, webinars, and learning center. |
| Customer Support Channels and Availability | Customer support is available Monday to Friday, 8 a.m. to 8 p.m. Eastern time by phone and email. | Phone: 24/7. Call (800) 343-3548. Live chat: Monday - Friday 8 a.m. 10 p.m. ET, Saturday - Sunday: 9 a.m. 4 p.m. ET. Social Media: Facebook, X (Twitter), Reddit, Instagram, Discord, and YouTube. |
| Security Measures and Insurance | Encryption and SSL validation. Two-factor authentication (2FA). Account activity alerts. FDIC insurance up to $1.25 million for individual accounts and $2.5 million for joint accounts for cash held in the Vanguard Cash Plus account. | Multi-factor authentication, voice biometrics, security text alerts, money transfer lock, 24/7 system surveillance. Fidelity will reimburse losses caused by unauthorized activity in covered accounts that did not result from customer error. |
| Socially Responsible Investing (SRI) Options | Yes, Vanguard Digital Advisor offers an ESG portfolio option. | Fidelity offers thematic sustainable investing funds and ETFs. Examples include Fidelity Healthy Future Fund (FAPHX), Fidelity Climate Action Fund (FCAEX), Fidelity Water Sustainability Fund (FLOWX), Fidelity Environmental Bond Fund (FFEBX), Fidelity Women's Leadership Fund (FWOMX), and Fidelity Environment & Alternative Energy Fund (FSLEX). Fidelity also has the Fidelity U.S. Sustainability Index Fund (FITLX). |