Fidelity Workplace Investing Review
by FMR LLC
Fidelity Workplace Investing offers Fidelity Advantage 401(k), a Safe Harbor 401(k) for small businesses starting their first plan, with Fidelity as plan sponsor and fiduciary. The employer pays $100 a month plus a $500 setup fee.
Best for
- Small businesses starting a 401(k) for the first time
- Employers that want the provider to act as plan sponsor and fiduciary
- Teams on Gusto or Paylocity payroll
Not ideal for
- Employers that want a custom plan design (Advantage is a pre-set Safe Harbor plan)
- Employers moving an existing 401(k) (Advantage is for first-time plans)
How we evaluated Fidelity Workplace Investing
This review rests on the 16 facts this page shows, each checked against the source listed under “Sources”, most recently on . We did not test the product hands-on: the score uses only those verified facts, as our methodology explains; third-party ratings, where we quote them, never count in the score.
Our verdict
Fidelity Workplace Investing sells Fidelity Advantage 401(k), a Safe Harbor plan for businesses with 2 to 1,000 employees starting their first 401(k), from privately held Fidelity, founded in 1946 in Boston. The employer pays $100 a month plus a $500 setup fee; Fidelity acts as plan sponsor and 3(16) and 3(38) fiduciary and files Form 5500.
Strengths
Published pricing
$100 a month for the employer plus a $500 setup fee; participants pay under $10 a month and 0.125%.
Evidence: Implementation fee: $5001
Fiduciary relief
Fidelity acts as plan sponsor and 3(16) and 3(38) fiduciary for Fidelity Advantage 401(k).
Evidence: Fiduciary services: Yes2
Filings handled
Fidelity prepares Form 5500 and manages compliance testing.
Evidence: Form 5500 support: Yes3
Employee app
Employees use NetBenefits on web and mobile to enroll and manage accounts.
Evidence: Mobile apps: NetBenefits (web and mobile app)3
Weaknesses
First-time plans only
Fidelity Advantage 401(k) is for businesses starting a 401(k) for the first time; existing plans move to the traditional 401(k).
Evidence: Best for: Small businesses, mid-market companies2
Safe Harbor match required
The plan requires a standard Safe Harbor employer match.
Evidence
Key features: Safe Harbor plan design with a standard match, Fidelity as plan sponsor and 3(16)/3(38) fiduciary, Express Entry contribution submission for any payroll, Plan Sponsor Webstation employer platform, NetBenefits employee web and mobile app2
Two named payroll partners
Gusto and Paylocity are integrated; other payrolls submit contributions through Express Entry.
Evidence: Notable integrations: Gusto, Paylocity4
Price at a glance
Quick answers
- How much does Fidelity Advantage 401(k) cost?
- The employer pays $100 a month and a $500 one-time implementation fee; participants pay a recordkeeping fee under $10 a month and a 0.125% advisory fee.Based on Extra costs: Participant recordkeeping fee under $10 a month ($25 a quarter), 0.125% investment advisory fee on participant balances2
- Who can use Fidelity Advantage 401(k)?
- Businesses with 2 to 1,000 employees starting a 401(k) for the first time.Based on Best for: Small businesses, mid-market companies2
- Does Fidelity act as a fiduciary?
- Yes. Fidelity performs most administrative duties as plan sponsor and 3(16) and 3(38) fiduciary.Based on Fiduciary services: Yes2
- Which payroll providers integrate with Fidelity Advantage 401(k)?
- Gusto and Paylocity; any other payroll can submit contributions through Fidelity Express Entry.Based on Notable integrations: Gusto, Paylocity4
Coverage of core 401(k) providers capabilities
Each core capability we evaluate in 401(k) Providers, checked against Fidelity Workplace Investing’s own documentation. “Not verified yet” means we have not confirmed it either way, not that it is missing.
8 verified of 10 core capabilities
Specifications
Fidelity Workplace Investing integrations
Fidelity Workplace Investing integration coverage
The 4 apps that 401(k) providers products document most often, and whether Fidelity Workplace Investing documents each.
2 of the 4 most-connected apps documented by Fidelity Workplace Investing; median of the 5 products compared: 2
- Gusto · documented by 3 of 5
- Paychex · documented by 3 of 5
- Paylocity · documented by 3 of 5
- QuickBooks · documented by 2 of 5
Integrations each vendor documents (native, marketplace, Zapier, API or named by the vendor), 5 live 401(k) providers products. Not documented does not mean not possible.
Where it ranks
- #3 of 3 scored401(k) Providers
- #2 of 3 scored401(k) Providers for Mid-Sized Companies
- #2 of 3 scored401(k) Providers for Small Business
Fidelity Workplace Investing alternatives
Betterment at Work
Human Interest- Vanguard Workplace Solutions
Principal Financial Group90% similar
Empower70% similar
Paychex Retirement Services70% similar
Implementation and support
About FMR LLC
Official profiles
Fidelity Workplace Investing: frequently asked questions
Where is Fidelity based?
Fidelity is headquartered in Boston, Massachusetts and has been privately held since its founding in 1946.
What is Fidelity Workplace Investing used for?
Fidelity Workplace Investing is a 401(k) providers product built for small businesses and mid-market companies. Its modules include Fidelity Advantage 401, Traditional 401 for existing plans, Self-Employed 401, and SIMPLE IRA.
Is Fidelity Workplace Investing legit?
Fidelity Workplace Investing is sold by FMR LLC, which was founded in 1946, is headquartered in Boston, Massachusetts, USA, and is privately held.
What are the best alternatives to Fidelity Workplace Investing?
In our 401(k) providers ranking, the highest-scored products other than Fidelity Workplace Investing are Human Interest and Betterment at Work. Compared side by side, by reason to switch: Fidelity Workplace Investing alternatives.
What are the pros and cons of Fidelity Workplace Investing?
Strengths documented on the vendor’s own pages: published pricing, fiduciary relief, and filings handled. It is less suited to employers that want a custom plan design (Advantage is a pre-set Safe Harbor plan) and employers moving an existing 401(k) (Advantage is for first-time plans).
Does Fidelity Workplace Investing have an API?
Yes. Fidelity Workplace Investing offers an API.
Does Fidelity Workplace Investing have a mobile app?
Yes. Fidelity Workplace Investing lists mobile apps: NetBenefits (web and mobile app).
Is Fidelity Workplace Investing good for small businesses?
Fidelity Workplace Investing lists small businesses among the company sizes it is built for (small businesses and mid-market companies), with a minimum of 2 employees; for 10 employees its list prices come to $100 a month. It ranks #2 of 3 in our 401(k) providers for small businesses.
How this page was made
What it is built from
16 verified facts, each checked against the vendor's own pages or another primary source, most recently on Oct 25, 2026.
Method
Scored and compared with the LeadChange methodology, version 1.5. Read the methodology
Independent review
Not reviewed yet by our independent reviewer. How we review
Hands-on testing
We have not tested Fidelity Workplace Investing hands-on: this page uses public information only.
Who made it
The LeadChange Research Team, following a written research process. No named expert has reviewed this page. About us
Independence and errors
Who pays us never changes a score or a rank. If something here is wrong, tell us and we correct it publicly. Request a correction
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Fidelity Workplace InvestingLeadChange Score 7.7
Sources
The 5 pages this page's facts come from. The date beside each is our last check of the facts taken from it (the oldest, when they differ). The numbers beside the figures above link here.
Quotes from the sources
- Fidelity Investments fidelity.com/retirement-ira/small-business/401k-plans“$100 monthly fee” “$500 one-time implementation fee”
- Fidelity Investments fidelity.com/retirement-ira/small-business/401k“Businesses with 2-1,000 employees looking to start a 401(k) for the first time.” “Fidelity performs most administrative duties as the Plan Sponsor, 3(16) and 3(38) fiduciary, which relieves the employer of significant fiduciary risk and administrative burden.”
- Fidelity Investments fidelityworkplace.com/s/401ksmallbusiness-details“Your employees will have access to NetBenefits®– Fidelity’s #1-rated web and mobile app¹” “Have 2+ employees at your business”
- Fidelity Investments fidelityworkplace.com/s/401ksmallbusiness-payroll“Fidelity teams up with industry-leading payroll providers to streamline your plan management and enhance your experience.” “With automated data transfers backed by our secure API.”
- Fidelity Investments fidelity.com/about-fidelity/our-company“Privately held since our founding in 1946” “Headquartered in Boston, Massachusetts, we employ over 80,000 associates across 11 countries”