Hello there!
After working with a financial advisor who was charging me 1% while barely doing anything (not even replying to text messages), I decided to cut ties. It was painful to see their fees on all my investments while I received little of the promised support.
Their returns were good, and so was their strategy. Instead of buying the S&P 500 Index Fund, they used a system that would automatically buy or sell to mirror the S&P 500's movements in my Fidelity Account. It was all automated, as far as I understand.
The issue is that when I stopped working with them, the automation stopped. My portfolio hasn't been updated since September, and I'd like to fix that.
I like the flexibility that I now have over the stocks that I have, like being able to manually sell some, buy more of some and collect the dividend multiple times a month, but I have hundreds of stocks that I honestly don't care about. If the system is automated and it follows the S&P500, then I'm okay.
So my question is, is there anything like this that I can set up on my own? Fidelity is my broker. I was reading about Managed FidFolios, which seems to offer a similar experience, but I'm unfamiliar.
My goal is to keep my portfolio growing, but without full hands-on/active management.
Any tips/feedback would be highly appreciated, ty!