Who are you partnered with? It’s no secret that Vanguard, Fidelity, and Charles Schwab are considered three of the most popular well-known brokerage firms. But they stack up slightly differently when it comes to fees and their specific suite of services. If you’re interested in getting financial advice, consulting a fiduciary financial advisor can be a great first step.
Why? While advisors are prohibited from promising returns, research suggests that people work with a financial advisor:
- feel more at ease about their finances, and
- could end up with 15% more money to spend in retirement.¹
So, what are the basic differences in firms? Vanguard offers low-fee investment products such as mutual funds and exchange-traded funds (ETFs). The firm has grown to now offer non-proprietary investment products and funds.
Fidelity offers personal investment products, namely brokerage accounts that allow users to trade stocks. Fidelity also makes an effort to provide investment resources to its clients and doesn’t usually charge fees on all trades.
Schwab has a number of passively and actively managed funds that you can invest your money into, as well as the option to trade individual equities. It offers free robo-advisor services and has a human advisor option as well.
Okay…so 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 with an advisor to interview.
Ready to know who should work with which of these popular firms? |