Fidelity IRA vs Schwab IRA

Fidelity: best if you want

Fidelity offers a wide selection of low-cost investment options on an ultra-user-friendly online platform. They offer a variety of low-fee transactions including no-fee stock and ETF trades online, making them a good choice for cost-conscious investors. Fidelity equips customers with access to research that, while not as detailed as some competitors, is enough to help investors make educated investment decisions regarding retirement planning.

With $7.8 trillion in assets under management (AUM), Fidelity is the largest provider of retirement savings accounts in the US. Their size has allowed them to build a product that serves the needs of most Americans and has allowed them to build one of the best-tested and most user-friendly trading platforms available.

Fidelity: other features

As one of the largest brokers in the country, Fidelity offers a wide selection of investments including annuities and 529 plans. In addition, investing at Fidelity means you may be eligible for other benefits, such as a Fidelity Rewards Signature Visa card. The Signature Visa card comes with a $0 annual fee and can help you earn up to 2% cash back, which can be deposited into an eligible Fidelity investment account (including IRAs!).

Charles Schwab: other features

Because it’s one of the biggest names in the business, Schwab investors can benefit from tech giant’s host of other features, including checking and savings accounts, insurance products, trust and estate services, and even Charles Schwab credit cards. Though you may pay an annual fee of up to $695, you can get a host of travel benefits, including no foreign transaction fee. Schwab also has a credit card with no annual fee.

Conclusion

Fidelity is a good option for many investors. Their platform is easy to use and offers a wide selection of low-cost investment options. It’s also an easy option if you’re looking to perform a 401(k) rollover. As with most self-serve investment accounts, it’s important for investors to check their accounts regularly to ensure their retirement portfolio still meets their needs.

If you’re looking to fund your new Fidelity IRA with a 401(k) rollover, Capitalize can help. We’ve made it our mission to make this process easier for everyone. We can handle the entire process for you. Most of the process can be done online and our rollover experts will guide you through any of the manual parts. Get started with your 401(k) rollover in just a few minutes.

For those interested in getting their investment journey started without playing a single transaction fee or being beholden to a minimum deposit, Charles Schwab stands out among trading platforms. Although many brokerages offer free ETFs, not every trading platform can boast accounts with no fees or account minimums, along with $0 commission fees and no-fee mutual funds.