The service goes beyond investing by offering comprehensive planning that covers retirement, estate planning, taxes, and healthcare costs.
An experienced investment team builds and proactively manages a portfolio designed around your goals, preferences, and risk tolerance while applying tax-efficient strategies to help you keep more of what you earn.
In addition, the program gives access to specialized offerings, including:
A separately managed account (SMA) sleeve, which is a portfolio of individual stocks held within an eligible taxable Portfolio Advisory Services account.
Fixed-income solutions.
Third-party advisors for complex needs.
Trust services.
What are the pros and cons of Fidelity Wealth Management?
Fidelity Wealth Management offers a personalized, advisor-led approach with comprehensive financial planning and tax-smart portfolio strategies.
However, it also has higher fees and access requirements, potentially limiting its appeal to investors with smaller portfolios.
The pros of Fidelity Wealth Management:
Dedicated advisor support: Clients work directly with a qualified advisor or advisory team who provides personalized planning and updates strategies as their goals and circumstances change.
Comprehensive financial planning: The service covers retirement, estate planning, tax considerations, and healthcare costs, offering a holistic approach to wealth management.
Tax-efficient investing strategies: Eligible portfolios benefit from tax-loss harvesting and other strategies that are designed to improve performance.
Ongoing insights and updates: Clients receive access to timely market perspectives and strategic updates through the company’s Insights section.
Specialized solutions: Options such as SMA sleeves, fixed-income solutions, trust services, and third-party advisors are available for clients with complex needs.
Trusted reputation: Fidelity is widely recognized as a stable, large-scale provider and one of the most trusted names in wealth management.
The cons of Fidelity Wealth Management:
Advisory fees: Fees are higher than robo-only platforms, with charges ranging from 0.5% to 1.5% depending on account size.
Complex fee structure: Optional SMAs can add up to 0.4% in additional fees, resulting in a higher total cost.
High minimum investment: Access to a dedicated advisor typically requires $500,000 in assets, which makes the service less accessible for investors with smaller portfolios.
Smart strategies may not reduce tax: Fidelity applies tax-sensitive strategies, such as tax-loss harvesting, at its discretion, and these are not guaranteed to reduce a client’s overall tax liability.
Fidelity Wealth Management provides dedicated advisor support, comprehensive financial planning, and access to specialized solutions.
However, it has a high minimum investment and layered fee structure, while its tax-efficient strategies are not guaranteed to reduce tax liabilities, making it most suitable for select investors.
Fidelity Wealth Management fees: how much does it cost?
Fidelity Wealth Management charges an annual asset-based advisory fee, with the percentage declining as your account size increases.
Additional costs may apply if clients select an SMA sleeve, and certain trading or regulatory costs are not included in the advisory fee.
| Fee range | What this covers | |
|---|---|---|
| Advisory fee | 0.5%–1.5% annually | Comprehensive planning, advisory services, and discretionary portfolio management. |
| SMA sleeve manager fee (optional) | Up to 0.35% (domestic) or 0.4% (international) | An extra fee applies when using SMA sleeves managed by certain third-party providers. |
| Pass-through costs | Varies by transaction | Costs not included in advisory fee, such as exchange and regulatory fees, dealer spreads, markups/markdowns, and third-party charges. |
Summary: Fidelity Wealth Management clients pay an advisory fee of 0.5%–1.5%, with lower rates applying to larger balances. If you choose an SMA sleeve, an additional 0.35% or 0.4% fee applies. The advisory fee does not include certain pass-through costs, which are listed in the FWS Program Fundamentals.
Fidelity Wealth Management vs Fidelity Private Wealth Management
In addition to its standard Wealth Management service, Fidelity also offers Private Wealth Management, designed for high-net-worth clients with more complex needs. This premium tier provides a broader team-based approach that incorporates estate planning, tax strategies, and multi-generational wealth transfer support.
| Feature | Wealth Management (Standard) | Private Wealth Management |
|---|---|---|
| Minimum assets | $500,000 | $2 million managed by Fidelity and $10 million investable |
| Advisory fee range | 0.20% – 1.50% annually | 0.20% – 1.04% annually |
| Advisor access | Dedicated financial advisor | Team-based support including estate, tax, and multi-generational planning |
What is Fidelity Wealth Management’s minimum account size?
Fidelity Wealth Management has a tiered entry structure, so the minimum investment varies depending on the program. The Fidelity Wealth Services (FWS) program starts at $50,000, giving clients access to Fidelity’s portfolio management tools. Once balances reach $500,000, investors generally qualify for a dedicated financial advisor.
For high-net-worth households, Fidelity offers Private Wealth Management, a more exclusive service designed for complex financial needs. This program is typically reserved for clients investing at least $2 million through Fidelity Wealth Services or Fidelity Strategic Disciplines, and who also have $10 million or more in total investable assets.
Our take: Fidelity’ Wealth Management's entry point of $50,000 makes it more accessible than many traditional wealth managers, while still scaling up to serve ultra-high-net-worth clients at the Private Wealth tier. By comparison, Vanguard Personal Advisor Services requires just $50,000 but caps its service scope at a simpler model, while Schwab Wealth Advisory starts at $500,000 for dedicated advisor access. On the other end, firms like Goldman Sachs Private Wealth or Northern Trust often require $10 million or more to get started.
Who should choose Fidelity Wealth Management?
Fidelity Wealth Management is designed for investors who prefer an advisor-led relationship and comprehensive financial planning, making it suitable for clients who have accumulated significant assets and are focused on long-term financial goals.
Here are those who should consider using Fidelity Wealth Management:
Individuals and families seeking guidance that goes beyond investing, including retirement, estate, tax, and healthcare planning.
Clients who prefer professional portfolio management with tax-efficient strategies and market insights.
However, Fidelity Wealth Management is not suitable for cost-sensitive investors or active traders who prefer to manage their investment decisions.
Fidelity Wealth Management: Is it secure?
Fidelity Wealth Management is secure and backed by regulatory coverage and cybersecurity safeguards.
Accounts are held with Fidelity Investments, a member of the Securities Investor Protection Corporation (SIPC), providing protection of up to $500,000 for securities, including $250,000 for cash, per account capacity, in the event the firm fails.
Fidelity further supplements this with excess SIPC coverage, offering additional protection on top of the standard limits.
It has industry-standard protections, including strong encryption, multi-factor authentication (MFA), push notifications, authenticator apps, and one-time codes, as well as 24/7 system monitoring with firewalls and anomaly detection to guard against unauthorized activity.
Fidelity Wealth Management: Customer service
Fidelity Wealth Management clients, whether enrolled in the standard program or the Private Wealth Management program, have access to a dedicated advisor or advisory team as their main point of contact for personalized financial planning and support.
The advisor completes annual portfolio reviews, plans updates, and has access to a support service team for administrative tasks, such as account maintenance or moving money.
For Private Wealth Management clients, support extends further to include an investment specialist, advanced planners for estate, tax, and cash flow planning, and specialists for complex areas, such as charitable giving or fixed income strategies.
Additionally, clients can access digital support tools, including the Fidelity website, mobile app, and virtual assistant for easier service and access to information.
Fidelity Wealth Management reviews: What do real customers say?
On Reddit, users share mixed experiences with Fidelity Wealth Management. Some report issues such as a lower-than-expected portfolio performance, complex portfolios, or limited advisor follow-up.
Others note that advisor responsiveness can vary, while some highlight positive outcomes, such as regular portfolio reviews and the use of tax-sensitive strategies to support long-term planning.
Is Fidelity Wealth Management worth it?
Fidelity Wealth Management is a solid choice for high-net-worth investors seeking advisor-led planning, tax strategies, and estate support. Fees become more competitive with larger balances, though the $500,000 minimum is a high barrier.
For alternatives, Vanguard Personal Advisor Services starts at $50,000, while Schwab Wealth Advisory and Merrill Lynch Wealth Management also target affluent clients with similar advisor-focused models.
For those seeking a lower-cost, digital option, Fidelity Go offers robo-advisor services with no large minimums.
Get expert financial advice
Fidelity Wealth Management provides advisor-led planning, portfolio management, and access to advanced strategies for affluent clients.
While its fees and access requirements make it better suited to wealthier investors, those seeking personalized guidance can benefit from its comprehensive approach.
If you need expert financial advice, Unbiased can match you with a financial advisor who will help you manage your money and maximize your investments.