There are so many brokerage companies: Schwab vs Fidelity vs Vanguard, and more! Ever wonder which one you should choose to invest with?
Listen as RC explains some of the pros and cons, as well as answers the larger question: does it matter?
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ABOUT RC:
RC Peck has been training people to take back control of their money and get the growth and income they want with confidence for over 20 years. His interest in human behavior and trauma-based investing gives him an unusual advantage in personal investing.
He started Fearless Wealth to train people to re-think and reset their brains—from what the big-box investing world teaches you to clarity, control, and confidence through radically simple shifts.
The opinions expressed on this YouTube channel are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the world of investing and markets. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results.
Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and potential permanent loss of capital; please seek advice from a licensed professional. Peck Wealth Management is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Peck Wealth Management and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Peck Wealth Management unless a client service agreement is in place. Please see all disclosures here. FearlessWealth.com/Disclosures
#rcpeck #investing #stockmarket The opinions expressed on this YouTube channel are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the world of investing and markets. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results.
Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and potential permanent loss of capital; please seek advice from a licensed professional. Peck Wealth Management is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Peck Wealth Management and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Peck Wealth Management unless a client service agreement is in place. Please see all disclosures here. FearlessWealth.com/Disclosures…(read more)
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Schwab vs Vanguard vs Fidelity: Which Brokerage is Best?
When it comes to choosing a brokerage firm, there are several key players in the market. Among them, Schwab, Vanguard, and Fidelity have earned a reputation for their top-tier services and extensive investment options. However, determining which one is the best fit for your needs can be a daunting task. Let’s delve into a comparison of these three popular brokerages to help you make an informed decision.
1. Schwab:
Charles Schwab is a well-known name in the world of brokerage firms. With over $6 trillion in client assets, Schwab boasts a combination of robust trading platforms, ample investment choices, and exceptional customer service. They offer a wide array of no-transaction-fee mutual funds, commission-free ETFs, and access to individual stocks and bonds. Schwab’s research tools are highly regarded, and their Intelligent Portfolios service provides automated investment management.
One of Schwab’s standout features is its extensive branch network, with physical locations nationwide. This can be advantageous for individuals seeking in-person support and advice. Moreover, Schwab is recognized for its user-friendly platform, making it suitable for both beginners and seasoned investors.
2. Vanguard:
Vanguard has established itself as a pioneer in low-cost investing. As a cooperative, it operates on behalf of its investors, keeping expenses to a minimum. Vanguard stands out for its wide selection of low-cost index funds and ETFs, which are a favorite among long-term investors aiming for wealth accumulation. Additionally, its renowned robo-advisor, Vanguard Personal Advisor Services (PAS), combines algorithm-based investment management with access to human financial advisors.
However, Vanguard’s platform may not be as user-friendly or feature-rich as some others. While it may lack the sleekness of competitors, its strong focus on low-cost investing and commitment to investor success has attracted a devoted following.
3. Fidelity:
Fidelity is highly regarded for its comprehensive range of investment products, including funds, stocks, bonds, and options. It offers an extensive set of tools and research capabilities, suitable for all types of investors. Fidelity also provides commission-free trading for stocks, options, and ETFs, making it an attractive choice for active traders.
Fidelity’s impressive mobile app and web platform cater to modern investors looking for an intuitive and seamless experience. Additionally, its wealth management services, including Fidelity Go (a robo-advisor) and personalized advice from financial advisors, offer tailored solutions for investors seeking hands-on guidance. Furthermore, Fidelity has an extensive network of physical branches, akin to Schwab.
So, which brokerage is the best? The answer largely depends on your individual needs and preferences. If you value a wide branch network and exceptional customer service, Schwab may be the ideal choice. Vanguard’s reputation for low-cost investing and long-term wealth accumulation make it a favorite among passive investors. On the other hand, Fidelity stands out for its comprehensive investment offerings, trader-friendly platform, and personalized wealth management services.
Ultimately, it’s crucial to consider factors such as investment goals, desired services, and fees when making a decision. Evaluating your personal investment style and long-term objectives will help determine which brokerage aligns best with your financial needs.
Which brokerage company do you use? What do you like or not like about it?
Nice video thanks for taking the time.
thanks appreciate the info, opinion
“Fidelity has a lot of green on their page…???!!???
How do you expect to be taken seriously if you start off being critical of web colors?
Stick to intrinsic facts……
Best review I've seen so far…still up to date. Thanks!
When u open an account with Fidelity, they’ll put your money into a “ Core Position” which is a Fidelity gov’t money market like SPAXX which has a 0.42 expense ratio and interest is maybe btw 2-4%? While with Schwab there is a tiny interest given, but no fee. Thoughts?
I wish Schwab allowed fractional shares on non S&P 500 stocks.
GREAT.
You’ve a wonderful soul!
Very good review. I agree with your conclusions. I split my portfolio into thirds over all three so if one gets a denial of service attack the other two are available. Also there are SIPC limits to consider. Vanguard customer service has deteriorated with the new management and they have little interest in fixing website problems.
I've had Roth IRA and taxable brokerage accts at Vanguard for about 10 years and I am finally shopping for a new financial home that can well serve my multiple account needs for the rest of my life. I love Vanguard's low fees. huge selection of funds and the fact that it's investor owned but, as a self directed investor, I also need an excellent fully featured website and Vanguard's sucks. It is quite literally the worst financial industry website that I've experienced. I have the Roth and brokerage that I want to move now, but I'm also thinking ahead to post retirement when I'll have a rollover 403b and a HSA. Ideally, I'd love to have all 4 accounts under one roof just for convenience and ease of management. I've been thinking about leaving Vanguard for years, but I always wind up staying because it's the most customer focused company.
Thank you RC! I’ve been with Webull for some time for their awesome user interface. However, customer service is lacking. Hate having to wait for someone to reply via email. Currently transferring all accounts to Schwab. Willing to pay $.65 for options contract if it means I can get a hold of someone who knows (and is certified) what they’re doing and saying.
Long time Vanguard investor, but customer service and problems with my accounts has pushed me to make the switch. I tried to switch over to Fidelity, but could not reach customer service to make an appointment. I wanted to be sure five plus accounts would transfer with minimal issues. Voicemail at 800 number referred me to website, but could not even log in as guest. Schwab will get my family business going forward.
Thank you.
Only thing i don't like about schwab is that they don't have fractional shares for every stock and etf.. I use Schwab
Great breakdown I think ima get Charles . I started a #StashApp but I finally hit $5000 ( I sold at $3000 2 years ago) and instead the $1 a month (which I pay $4) it's 0.25% which= $12.50 so I'm tryna move to one of the big 3 .I have #RobinHood but I want one to set up retirement account and custodial account ⚡
Your video was very informative. Schwab has excellent customer service. Vanguard has limited hours and long wait times. With that said they were very helpful and professional.
I am really wanting to start investing in Index Funds & a Roth IRA. What would you commend for someone with that type of mindset? Trying to take advantage of every opportunity for retirement. Thanks.
I’ve tried all 3 and it really depends on your needs. Vanguard is limited in what they offer although come highly recommended with what they do. I find myself liking Fidelity slightly more than Schwab and then Vanguard last. The debit card issue goes to Schwab. Best in the country. Schwab allows mobile deposit of money orders which is awesome. Saves both time and gas. Fidelity has a nice HSA option for those who can get one. Both have about everything else equal. Checking, trading, low costs, hub accounts, etc. I believe Fidelity has 24/7 customer service too but I’ve never needed it.
I already try all 3 of them and I like Charles Schwab the best great
customer service 24 7 all in one also great checking account worldwide
many share you won't be able to buy from other but you can buy from
Schwab free ATM service any ATM worldwide but if you looking for just
long term Vanguard is okay I just move all my money from Fidelity
account to Charles Schwab but i don't that Fidelity is not good compare
to many other anyway for me Charles Schwab is the best
hey man can you do a titanvest review
Thank you for the in depth comparison. And also,,, "Forward slowly is better than not moving at all",,, I loved it!
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