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This newsletter is brought to you by our partner, SmartAsset.

 
Vanguard vs. Fidelity vs. Schwab
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Choosing the right financial advisor is key. | Photo provided by SmartAsset
Who are you partnered with?

It’s no secret that Vanguard, Fidelity and Charles Schwab are considered by many to be the three most popular, well-known brokerage firms. But when it comes to fees and a specific suite of services, they stack up slightly differently — which means one size doesn’t fit all.

If you’re interested in getting financial advice, consulting a fiduciary financial advisor can be a great first step.

Why? With thousands of options , it may seem daunting to choose an advisor. But some things are better left to the professionals. While advisors are prohibited from promising returns, research suggests that people work with a financial advisor:
  • feel more at ease about their finances
  • could end up with 15% more money to spend in retirement¹

What are the differences in firms?

Vanguard: offers mutual funds, exchange-traded funds (EFTs), and other low-fee investment products designed for long-term, buy-and-hold investing, as well as non-proprietary investment products and funds.

Fidelity: offers personal investment products (namely brokerage accounts for stock trading) with a higher focus on active trading. Fidelity also makes an effort to provide investment resources to its clients and doesn’t usually charge fees on all trades.

Schwab: maintains both passively and actively managed funds to invest your money into, as well as the option to trade individual equities.

Okay… but how do I find an advisor?

SmartAsset’s no-cost tool matches you with up to three vetted financial advisors serving your area, each legally bound to work in your best interest.

While your advisor matches may not necessarily be associated with the above institutions, in many cases, you can be connected instantly to compare and decide on the best-aligned fit for you.

Ready to know who should work with which popular brokerage firm?
 
Asked
 
Are you maximizing your portfolio?
Answer a few questions to match with up to three financial advisors who can help you make the most of your retirement savings.
Sources:
¹ “Journal of Retirement Study Winter” (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.
 
 

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