What are Fidelity vs Vanguard vs Schwab?
To take it a step back, each of these are brokerage firms for investing. Similar to different banks offering bank accounts, these are brokerage firms that offer different investing accounts. Check this post out for reasons why investing is important.
This post is about Fidelity vs Vanguard vs Schwab.
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Let’s dive into the 3 pros of Fidelity
1. Low to No Expense Ratios
If you’re paying high fees to invest your money, you’ll want to look into Fidelity. Fidelity offers a wide range of investing options, most of which, offer low to no fees for you to invest. This means that whenever you invest in a fund, the cost is either extremely low or it doesn’t cost anything! So your dollar goes even further!
2. Wide Range of Options
Another strong suit of Fidelity is the wide range of investing options it provides. Combined with its low to no expense ratios, this makes Fidelity one of the top choices for investment brokerages. Investors can keep more of their money while being able to choose from a plethora of investment options from ETFs, mutual funds, etc.
3. Robust Research
One of the top areas where Fidelity’s strength lies is in its robust research readily available to investors, especially in comparison to other brokerages. Complete with information on historic prices, fees, funds included within the investment, and more. If you’re a data-driven person, this is a feature you’ll enjoy!
Let’s dive into the 3 pros of Vanguard
1. Low Expense Ratios
Vanguard also offers low expense ratios. Again, if you’re being charged high fees for investing, you’ll want to take a look at Vanguard. Lower expense ratios means you get to keep more of your money!
2. Vast Options
Vanguard founder Jack Bogle was known for pioneering the concept of an index fund. An index fund is a collection of many funds that track specific markets. A popular one is VOO, which tracks the S&P 500.
3. Diverse
Vanguard offers a wide range of funds. This allows investors to diversify their investments and portfolios.
Let’s dive into the 3 pros of Schwab
1. Low Fees
Investing with Charles Schwab means low fees, no account minimums, no account fees, and no trading fees. Some would call that a triple threat!
2. Vast Options
Charles Schwab offers a wide range of investment options (stocks, bonds, ETFs, mutual bonds).
3. Highly Accessible Customer Service
One of the greatest strengths of Charles Schwab is their 24/7 support, which is available online or over the phone. Support is also available in-person, though those hours are not as available as 24/7. This means that whenever you have a question about investments or your accounts, you’re able to reach out for customer support.
Areas Fidelity vs Vanguard vs Schwab Shine In:
Fidelity: Low fees, wide range of investment options, and robust research.
Vanguard: Low fees and diverse index fund options
Schwab: Low fees and highly accessible customer service
To reiterate, the 3 pros of Fidelity are:
- Low to No Expense Ratios
- Wide Range of Options
- Robust Research
The 3 pros of Vanguard are:
- Low Expense Ratios
- Vast Options
- Diverse
The 3 pros of Schwab are:
- Low Fees
- Vast Options
- Highly Accessible Customer Service
There you have it! The differences between Fidelity vs Vanguard vs Schwab. Interested in learning more about index funds? Check this post out for the best index funds for Roth IRA!
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