To cancel a Fidelity managed account, log in and end management from the account summary if you’re in Fidelity Go, or call 800-544-3455 for Fidelity Wealth Management, Personalized Portfolios, or Strategic Disciplines. Fidelity charges no termination penalty on any of these programs. You will owe a pro-rated advisory fee for the days you were enrolled in the current billing period, and the bigger money question is almost always what happens to the investments afterward.
Identify Which Program You’re In
The cancellation path depends on the tier. Fidelity Go is the automated robo-advisor, with no advisory fee under $25,000 and 0.35% annually above that threshold.1Fidelity Investments. Fidelity Go Invest With Our Robo Advisor It’s the only tier you can end entirely online.
The advisor-led programs include Fidelity Personalized Portfolios, Fidelity Wealth Management (also called Fidelity Wealth Services), and Fidelity Strategic Disciplines. Fees vary by program and asset level, with Wealth Management starting at 1.50% for accounts under $500,000 and sliding down for larger balances.2Fidelity Investments. Fidelity Wealth Services Form ADV Part 2A Brochure All of these require a phone call to cancel.
Have your nine-digit account number ready. It’s on your statement and in the digital dashboard.3Fidelity Investments. Investment Report Note whether the account is taxable or an IRA, because that drives whether selling positions creates a tax bill.
Canceling Fidelity Go Online
Log in to Fidelity on the web or in the app, open your Fidelity Go account summary, and select the option to stop management. A confirmation screen explains that automated trading, rebalancing, and (for taxable accounts) tax-loss harvesting will stop immediately when you confirm.
Your investments stay in place after confirmation unless you sell them yourself. The account converts to a standard self-directed brokerage account, and every buy and sell decision is yours from then on. If your balance was under $25,000, no fee was accruing. Above that, Fidelity calculates a pro-rated fee for the days you were enrolled in the current billing period.4Fidelity Investments. Fidelity Go FPPA Supplemental
Canceling Wealth Management and Other Advisor-Led Programs
For Fidelity Wealth Management, Personalized Portfolios, Strategic Disciplines, or any program with an assigned advisor, call 800-544-3455 or contact your advisor directly.5Fidelity Investments. Fidelity Phone and Text Message Numbers Either side can end the agreement at any time with written notice, so there’s no lock-in.6Fidelity Investments. Investment Management Client Agreement
The representative or advisor prepares a termination authorization, electronic or paper, for you to sign. Fidelity places temporary trading restrictions on the account while it updates the status, and automated features like rebalancing and tax-loss harvesting are turned off. Ask the representative to confirm those are off before you end the call.
Use the same call to tell Fidelity what you want done with the money. If you don’t give instructions, the client agreement lets Fidelity move the assets into an identically registered brokerage account you already hold with them. If no such account exists, they can transfer the holdings to you in kind or, where that isn’t possible, sell them and send the proceeds.6Fidelity Investments. Investment Management Client Agreement
What Happens to Your Investments
The real decision isn’t how to cancel; it’s what to do with the holdings. Two broad choices: keep them in a self-directed account, or sell them.
In-Kind Transfer to a Self-Directed Account
An in-kind transfer moves your stocks, ETFs, and eligible mutual funds into a self-directed brokerage account without selling anything. No trades, no taxable events. This is the simplest route if you plan to keep a similar portfolio or just want to avoid a tax bill.
Some positions can’t come with you. Managed portfolios sometimes hold proprietary mutual funds offered only through Fidelity’s managed programs; those can’t sit in a standard brokerage account.7Fidelity Investments. Frequently Asked Questions The client agreement explicitly lets Fidelity redeem fund-of-funds shares on termination, and the proceeds land as cash.6Fidelity Investments. Investment Management Client Agreement
Fractional shares, which build up through automated rebalancing and dividend reinvestment, can’t move through the ACATS transfer system if you’re going to a different brokerage. They get liquidated and the cash sweeps over, usually within a few weeks. If you’re staying inside Fidelity and just converting to self-directed, fractional shares stay put.
Full Liquidation
If you’d rather start fresh, ask Fidelity to sell everything and leave you in cash. Inside a Traditional or Roth IRA, selling creates no immediate tax because gains and losses aren’t recognized at the time of the trade. In a taxable brokerage account, every sale is a taxable event.
The Fee You’ll Owe at the End
No Fidelity managed account program charges an early termination penalty. The only fee is the pro-rated advisory charge for the days between your last billing date and the cancellation date, deducted from the account’s cash balance before the transition finishes.8Fidelity Investments. Portfolio Advisory Services Fidelity Personalized Portfolios Client Agreement
A rough example: in Fidelity Wealth Management with $400,000 and 45 days left in the quarter at a 1.50% annual rate, the pro-rated fee is about $740 (1.50% × $400,000 ÷ 365 × 45). On a $50,000 Fidelity Go account at 0.35%, the same timing produces about $22.2Fidelity Investments. Fidelity Wealth Services Form ADV Part 2A Brochure Watch for the deduction on your next statement.
Tax Consequences if You Liquidate a Taxable Account
If the managed account is taxable and you sell positions, each sale produces a capital gain or loss. The rate depends on holding period and total taxable income.
For 2026, long-term capital gains (held longer than a year) are taxed at 0% if taxable income stays below $49,450 for single filers or $98,900 for joint filers. The 15% rate applies above those thresholds, and 20% kicks in above $545,500 single or $613,700 joint.9Tax Foundation. 2026 Tax Brackets and Federal Income Tax Rates Short-term gains on positions held a year or less are taxed as ordinary income.
A portfolio that’s been running tax-loss harvesting carries a complicated cost-basis history. Before you sell, pull up the unrealized gain and loss estimates in your dashboard. Selling the whole account in one year can push you into a higher capital gains bracket, which is why some people split the liquidation across two tax years.
Watch for Wash Sales
If you sell a position at a loss and buy the same or a substantially identical security within 30 days, the IRS disallows the loss.10Office of the Law Revision Counsel. 26 USC 1091 – Losses From Wash Sales of Stock or Securities The 30-day window runs both directions, before and after the sale.
The rule reaches across account types. Selling at a loss in your taxable account and repurchasing in your IRA still triggers a wash sale, and under IRS guidance the disallowed loss is permanently forfeited rather than added to the IRA’s cost basis. Dividend reinvestment plans can create accidental wash sales too, if a DRIP repurchases shares of something you just sold at a loss. If you’re liquidating and plan to rebuild a similar allocation yourself, wait at least 31 days before buying identical positions, or substitute a different fund tracking a different index.
Loose Ends to Handle After Cancellation
The managed-to-self-directed transition typically takes three to five business days, during which the account may show as restricted. Once it clears, you have full control, including the ability to trade individual stocks, use margin, or apply for options if you qualify.
Automatic Contributions Keep Running
Ending the management agreement does not stop recurring deposits or scheduled investments. You have to cancel those separately through Fidelity’s automatic transfers and investments page.11Fidelity Investments. Fidelity Customer Service – Investing and Trading Otherwise cash will keep arriving in what is now a self-directed account with no one managing it.
Cost Basis Records
Cost basis should carry over automatically because the assets stay within Fidelity’s custodial system even when the account type changes. If anything looks wrong, you can update cost basis for individual securities online, and the change takes effect the same day.12Fidelity Investments. How to Change Your Cost Basis Information Keep old statements and trade confirmations in case you need to correct positions that went through multiple tax-loss harvesting cycles.
Pending Dividends and Distributions
Dividends and fund distributions declared before your cancellation but not yet paid will still land in the account, usually within a few days to a few weeks after the ex-dividend date. Small cash deposits appearing after the transition are normal.