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Vanguard vs. Fidelity vs. Schwab

RJ Hamster

Vanguard vs. Fidelity vs. Schwab
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It’s no secret that Vanguard, Fidelity and Charles Schwab could be considered three of the most popular and well-known brokerage firms. Each offers a wide range of products and services, from banking and investment products to financial advisors and financial planning services.

However, there are some important differences, from fees to financial services to research resources, each of which could impact your customer experience. Learn how these firms stack up so you can decide on the best fit for you.

Overview of Vanguard vs. Fidelity vs. Schwab

Vanguard made a name for itself by creating and offering low-fee investment products such as mutual funds and exchange-traded funds (ETFs). It still does this, and even non-Vanguard clients can buy Vanguard funds via a brokerage account. The firm has grown to now offer non-proprietary investment products and funds.

Fidelity is perhaps best known for its personal investment products, namely brokerage accounts that allow users to trade stocks. Clients can invest in a wide range of stocks, bonds and other investment products using a Fidelity brokerage account. Fidelity also makes an effort to provide investment resources to its clients and doesn’t usually charge fees on all trades, though more and more brokerages and broker-dealers are moving toward fee-free investment models.

Schwab has a number of passively and actively managed funds that you can invest your money into. You also have the option to trade individual equities. It also offers free robo-advisor services, and those who want to work with a real advisor will have that option as well. Learn how the fees compare here.

How to Speak With a Financial Advisor

If you’re interested in getting financial advice, consulting a fiduciary financial advisor can be a great first step. That’s why SmartAsset created a free tool to help match you with up to three financial advisors who serve your area. All advisors on the matching platform have been rigorously vetted through a proprietary due diligence process.

While your advisor matches may not necessarily be associated with the above institutions, research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.¹ It’s never too late to work towards a more comfortable retirement.

‌See how Vanguard, Fidelity and Schwab stack up »

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Unless otherwise indicated, information is as of 5/4/2023. SmartAsset has no obligation to update any content in this article.

This article may potentially include a firm or firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals or cost per engagement. SmartAsset is not a client of the aforementioned firms. SmartAsset did not receive compensation for including any of the firms in the aforementioned article.

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  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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