Fidelity vs Vanguard vs Schwab: My Take Having Used All 3 for 20+ Years

[@fredswartley9778]

I've only used Fidelity so far and I've had a positive experience. I'm sticking with Fidelity!

[@Physics_Dude]

Good to know. Finally opened a Roth today at Fidelity and have a scheduled meeting next week. I'm maxing out my Roth ($8k) and 401k ($30k+) for the next 4 years. Never had to manage my own funds, but I'm looking forward to it. Physics is easier! ha :)

[@funtechu]

Fidelity support is one of the best parts. The wait times are short, and their support agents are knowledgeable and helpful. I don't think I've ever waited more than 5 minutes to get to a human.

[@richardrainey2124]

Rob mentioned that Fidelity offers the eAdvisor tool. Do you know if it's the basic version or the eAdvisor Pro which allows you to do Roth conversion modeling like New Retirement (only better!)

[@hero108zero3]

Disagree - of late there has been a lot of XXX hires who have not been trained, do not even understand the questions, and give wrong answers on top of that. This is what happens when merit is not the criteria for hiring and new people are not trained well and their mastery tested before put in front of the customer.

[@allen_p]

Support has been good in my experience

[@frankwoodbery2473]

What is an XXX hire?

[@vinyl1Earthlink]

If your account is bigger than $1 million, Fidelity offers a dedicated group of support agents. They are really very nice, but they don't know much more than than the regular agents.

[@jfigarr]

4:33 #3 - Cash management features/ options was a great point of discussion. Thanks for including it in your evaluation criteria!👍🏾

[@ervlichterman4714]

I’ve had Schwab for years and love their ease of use. Good free local live support.

lmao !!!

[@kitten9644]

As someone who previously worked at Vanguard and now works at fidelity, totally agree with all your points.

[@shimitsu11]

Vanguard's Settlement Fund is also a Money Market producing 5%. Seemed like that got glossed over in the video. That particular weakness is unique to Schwab.

[@DrBilly90210]

Vanguard settlement fund is Federal Money Market Fund (VMFXX); current 7-day SEC yield 5.27%

[@psdaengr911]

@@JeffreyStock Not for all kinds of accounts.

[@fairx]

He certainly did minimize the automatic sweep advantages of fidelity.

[@fairx]

​@@JeffreyStockwrong

[@chrisblock6697]

Issue I had with Vanguard's Settlement Fund is for last year it did not meet the threshold requirements for my CA State Tax Return (49.37% and needed 50% - seems like an unforgivable miss on their side), so taxed on 100% on state return. Moved that money to VUSXX.

[@alYnj]

Vanguard's UI (user interface) is like something designed by a bunch of first year law students, who tried so hard to show their "legal knowledge".

[@CaptainBenjamins]

Sometimes having a UI that looks like cancer is a good thing. I open my vanguard app like once per day while I open my robinhood app like 100 times per day

[@xxxxMonkeyGirlxxxx]

@@CaptainBenjaminslol

[@RickWilson13-kd2zv]

When you log into Vanguard, you get a pop-up window asking you how they should change the website

[@Blittsplitt5]

Fidelity UI is pretty clean, especially the mobile app. Hard to find some things sometimes, and they have stupid drop drown menus, but pretty simple overall.

[@Rhaspun]

They must have done the human usability testing with lawyers.

[@erickarnell]

Schwab pays ATM fees if you are overseas. Many international travelers prefer a Schwab banking account for that.

[@TravelingtheWorld96]

That is how I use them. I just keep the bulk of my cash elsewhere and transfer minimal amounts to Schwab in order to top up the balance but I don't leave much there since their interest rates are so low (probably due to paying off those ATM fees which I love).

[@nunuvyurbiz123]

So does Fidelity for their cash management accounts.

[@TravelingtheWorld96]

@@nunuvyurbiz123 Yes, you get the ATM reimbursement but from what I have seen on the Fidelity site, there is also a 1% foreign transaction fee that is charged for using your debit card to withdraw cash in the local currency. If that has changed then it would be great.

[@happymanA2]

I loved that when I traveled overseas before I retired …I don’t miss airports!

[@LeslieM.-nj7wz]

​@@nunuvyurbiz123I think Fidelity's Debit card doesn't charge fees in US only.

[@Chef-Soda]

I wish I loved investing with Vanguard but their UI is awful.

[@builtbywalsh]

Same. Been with them for a couple years and honestly I just want M1Finance. I want automatic investment that always brings my portfolio into the right allocation by default.

[@krisevans4379]

user interface got it lol and i agree

[@mere_cat]

So true. They also don’t allow automatic investing or DRIP with ETFs which was the main reason I left them for M1.

[@MrCDER]

Their app on Apple IOS has gotten really good

[@Byssbod]

Yeah I really don't understand how they have such a bad platform. I wish I knew their UI was bad before I invested on their platform. Im still pretty new and I had no comparisons or context, and didn't know about this particular issue back then.

[@coast_into_retirement]

Thanks for another great video. I would like to mention that when I opened my first Roth IRA , I didn't have the $3000 to start with Vanguard and started with Fidelity. They allowed me to open an account and make small monthly deposits. That was a BIG deal . As time passed, I have also had accounts with Vanguard but moved them to Fidelity last year. I do not have any experience with Shwab. Thanks again for the video

[@anthonyruggiero9143]

Fidelity also has tools, resources, apps for every demographic. Whether you're in retirement or in high school, there's somebody you can talk to and a tool on their platform that will allow you to invest or save appropriately.

[@frankj8585]

Great timing on this video. I’ve been a loyal Vanguard client for about 40 years. I’ve been contemplating switching to another firm because I’m fed up with Vanguard's decline in customer service. I too had a personal account rep some years ago, with much less invested than I do today. They do have some great funds, but they just don’t care about their Legacy Customers any more. Probably moving to Fidelity. Thanks for the video!

[@Wbrundog]

I posted about the same thing just a minute ago. Vanguard sucks now. I am getting my money over to Fidelity this week.

[@urbinblytte429]

agreed--i've been with vanguard from the get-go. Vanguard's customer service has fallen off a cliff in the recent past. Its hit or miss @ best. it seems its turned into a tele-marketing sales organization; with their main focus is getting people to sign up for the PAS.

[@bobmonson6432]

I agree that Vanguard’s customer service has declined over the years. Such a disappointment. I will try Fidelity.

[@rickdunn3883]

@@Wbrundog me too.

[@psdaengr911]

It depends what kind of services you need. I find it easier to make purchases and rebalance accounts at Vanguard ta at tne others.

[@Jamaal67i]

The problem with Vanguard Target Funds are that they start too heavy with Bonds early on and get worse over time. I'd suggest if you go with them, then pick one that is about 10 years above your actual target date. Other brokerages offer better allocations but higher fees.

[@Peterl4290]

Mine currently is allocated at 10% bonds. Is that too much? I’ve heard that having some bond exposure isn’t a bad thing. But i'm also looking at advisory services to better my finance

[@Aarrenrhonda3]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@bobwright-90]

will like to get in touch with your advicer , how can i find her

[@Aarrenrhonda3]

Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@bobwright-90]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@orpheusny]

Heads up for younger folks who have not yet reached the estate planning phase of your life- our relatively straightforward estate plan involved a 1-2 page instruction letter for successor beneficiaries. We had accounts at both Fidelity and Vanguard at the time. Fidelity requested one minor change in language, but accepted the custom beneficiary letter. Vanguard told us that at assets with them over 1.2 mm we “weren’t even close” to the kind of customer that they’d accept a custom beneficiary designation from. That was the end of our 35 year relationship with Vanguard. Mind you, these were not complex instructions with a million contingencies. We were shocked that they wouldn’t do it.

[@Dividendflywheel]

My first experience with Vanguard proved they were NOT “customer-centric”. I will access their funds (and ETF) via a competitor

[@zoner__]

Merrill is just as bad.

[@hevoforo1629]

I had an unbelievable issue with Vanguard that THEY created out of the blue and caused me financial harm. I won't bore with the details, but I lost a lot of respect for VG with that. I had been a Bogle-head. I moved my major retirement account to Fidelity as a consequence. Though I still have several accounts with VG, my intent is to move them at the appropriate time. I like VGs low costs and offerings, but I really don't trust them. Fidelity's interface is much more user friendly than VG.

[@Pacificcityfishing]

You have been clearly mistreated by Vangaurd and I think other customers should know how little Vangaurd cares about longtime investors

[@ahjohnson3720]

We moved from Vanguard to Fidelity because they would not accept beneficiary's on their taxable account. They had it on IRA's, just not taxable. When I asked about it they said we should just include our wishes in our wills.

[@andyh4518]

I've never used Vanguard, but if you like to buy T-Bills then Fidelity is the way to go. You can buy the 17 week ones and any CMBs (the 42-day ones seem to have become a permanent thing) with Fidelity, but not with Schwab. Schwab not automatically dumping cash into a MMF is kind of annoying - clearly it is easy enough to do since Fidelity can handle it.

[@SallySamsara]

Fidelity is better than Schwab for buying, doing auto roll w T Bills. Schwab has a I week delay in auto roll. Also w Fidelity funds automatically go to high interest MMF when duration is up. With Schwab the funds go to low interest fund. Have to manually move it to higher interest fund.

[@ccrider8483]

Yes, this annoys me about Schawb as well.

[@GiantBlue1963]

Correct! Schwab T-Bill rollovers are bad. But in conversations with them, it’s something they’re working on. I liked that they acknowledged it was something that needed improvement. But I only did a rollover once, then cancelled the others.

[@gregbannish8423]

Yep, agreed on both points, and is annoying. However, one can roll them over manually with no delay. For instance, with 6 month Tbills with auctions each Monday and issuing each Thursday, if your Tbill is coming due Thursday, you can order a new tbill on the auction day (Monday prior) even with no money in your sweep account. The computer is smart enough to know to use money from the maturing tbill to purchase the new tbill on the same day. That still doesn't solve the other issue of money going to/from the sweep account instead of money market that makes good interest, but that can be done manually. For me, these issues aren't enough of a reason to switch brokerages, yet...

[@jamesmorris913]

And..not only that..but if you don't want Schwabs SUCKY interest rate on their default MM sweep acct..you have to pick one of their alternative MM accounts..which have EXHORBITANT expense-ratios, and; are NOT F.D.I.C. insured.

[@seagirl1100]

Thanks! I like Fidelity but somehow my stocks were sent to Schwab, from TD Ameritrade. Schwab is not that user friendly. I’m Glad Rob is good with Fidelity. Thanks for your information.

[@srconrad]

I switched from Vanguard to Schwab and I have zero complaints. Their customer service is excellent and their technology and UI is very good. I had been using their checking with its excellent benefits for many years before switching all my investment accounts over. Okay, one complaint. What Rob mentioned about not having automatic transfer of cash to money market. Hopefully, they’ll add that. I’m pretty good about doing it myself but it would be a nicety.

[@Quantris]

it's weird...they used to have better options for cash but iirc it was always a bit overcomplicated baffling why it's worse now

[@jeeplife5262]

Completely agree. Schwab has some great rates on different money funds, but manually managing the movements is annoying.

[@ej3476]

Schwartz will autosweep cash to a MM like account for clients with >$20mm cumulative account value

[@bradleyhurley6755]

I think they went the opposite way and got rid of it. I'd imagine trying to make sure it didn't lose value became difficult at certain times. And obviously people wouldn't be happy their money dropped in value while sitting there, despite the warnings. The sweep account is one thing I like about Fidelity over Schwab. The biggest advantage to fidelity in my point of view is fractional shares. The Sweep account would be the 2nd.

[@bradleyhurley6755]

@@Quantris I assume it has to do with keeping the value of the funds positive and how its just easier to not automatically do it. Of course with Fidelity I have made interest from the sweep account with funds just hanging out for a couple days while my stock purchase clears. Pro for me, but I would imagine on fidelities end it isn't that great.

[@scottgoebl6194]

Schwab works very well for me as an expat retiree who travels a lot. I just wish their sweep account was a money market fund with decent return. You can always put your money into SWVXX, but it’s an extra step to buy and to sell. GREAT customer service.

[@Drotopia]

Yeah…I just use SWVXX as well. Once you own it it’s easy to buy and sell at least.

[@morganfbilbo462]

Yes. I use SWVXX and SNOXX. I honestly don't see the sweep acct. as a long term investment, and is easy to move money to or from any combo of accts. Even a local outside bank.

[@claricehirata3303]

Hi Rob, great video , thank you! Based on your review of Fidelity a while back, I did transfer part of my Vanguard funds over to Fidelity and am very happy that I did. What was useful to me in this video was learning about Full View on Fidelity that has now enabled me to post my Vanguard funds on Fidelity so I am able to see my entire portfolio in one place, sweet! Take good care and be well.

[@elinsd]

Vanguard has this feature as well but I haven’t used it yet since I do that over Empowerment.

[@willelliott5052]

During a period around three years ago, it was very hard to get a Vanguard rep on the phone.

[@mashort07]

I was hoping for a better review of Vanguard but it is what it is. I opened accounts with them because I believed in what Jack Bogle stood for and certainly still do, but it’s just disappointing to hear how far they’ve fallen behind. Luckily my needs are very simple, otherwise I’d strongly consider moving my portfolio.

[@Dividendflywheel]

@@PaulLikesMoney YES. Vanguard started straying from Bogle’s philosophy before Mr Bogle depart this planet. Listen to some of his interviews

[@Dividendflywheel]

You can implement Mr Bogle’s philosophy using most other platforms (and buying vanguard ETFs). The truth is vanguard and Jack Bogle started having divergent ideas long before he departed this planet. Vanguard has accumulated so much AUM they no longer appreciate the small investor. To vanguard an account with under $5 million is small. I believe in going where I and my money are appreciated. Stay Hungry

[@mashort07]

@@Dividendflywheel, thanks for the feedback. Consider me stupid-how difficult would the transition be and would there be any costs? Sorry, I just have zero experience with this.

[@morganfbilbo462]

I do suggest you check out Schwab before you move to F.

[@ValeriaReyes-]

SO glad you released this video in particular Blcktken300. I was accumulating AR and then saw your video last year saying that you see Blcktken300 may hit 300-400 and then you changed your view. Great and very informative!!! Thanks

[@urbinblytte429]

Rob would you do a video on how to transfer an account from Vanguard to Fidelity. i've been with VG for the duration and soon going from accumulation to distribution. Thanks in advance.

[@momhouser]

Rob, I Second this question. I moved one account, but didn't realize they would transfer "in kind" and then charge a fee to repurchase Vanguard funds at Fidelity??? Please discuss the pros/cons of changing funds during a rollover?

[@bobgilbert7927]

Many of us long time Vanguard customers would like to go back 20 years... the web pages were so clear,simple and easy to navigate, it was enjoyable. The redesign to a " Fisher-Price" design is so frustrating to navigate, terrible.

[@stevemyopinion423]

i have a question i never been able to find the answer i a little afraid of being HACK, is there a way to set you account up so that only a percent of the money coudl be REMOVE ina year without you showin up in the office to move it. like say you have 2 milion and even if you hack they can only take a 100k ina year,

[@retired8484]

There is really zero excuse to deliberately open a Vanguard account today.

[@RandzWRX]

FIDELITY!!!! thanks for the Video ROb!!

[@bryansmith113]

6:30 cash management. Vanguard has the highest rates on money markets at a 5.27 and it's the default settlement fund. Higher than fidelity or Schwab and you don't have to trade into it. It's default on every brokerage account. Just ignore the cash plus which gives you a lower rate for FDIC protection and harder to use.

[@tomroche8091]

I concur…. Fidelity is the best of the three !

[@pilgrimlady8196]

I agree. At the despise point with Vanguard.

[@grwbt8703]

Vanguard's funds have lower fees over-all than Fidelity. I know there are exceptions, but if you self-direct and use 12 or 15 funds (like I do), chances are pretty good you'll end up paying less over-all for fund management. This wasn't covered in the video but maybe should have been. When I was with Fidelity, I loved their customer service and their UI. But if saving on management fees is an important goal, my own experience is that it's tough to beat Vanguard.

[@Dividendflywheel]

Most of us are moving from traditional mutual funds to ETF s because of the fees and tax advantages you mentioned. In that case you can hold a Vanguard ETF at any firm. This is true democratization of investment choices for the average investor.

[@Random-ld6wg]

same thing with my reasoning to continue at vanguard though i do have a bit with fidelity as well. . i am all about the fees and am self directed. will fidelity change in 10 yrs as more people flock to it?

[@happymanA2]

I use Vanguard ETFs at Fidelity with no transaction fees plus Fidelity zero-fee mutual index funds.

[@rightwingsafetysquad9872]

If you're still investing in old fashioned mutual funds, the best time to stop was 15 years ago, the second best time is now. ETFs are vastly superior and have the same management fees regardless of which broker you use. For a Vanguard ETF, you pay exactly the same whether you buy with Schwab, Vanguard, or Robin Hood (transaction fees may vary).

[@Random-ld6wg]

@@rightwingsafetysquad9872 if you already had index funds in the past before etfs came on most would have continued putting money in the mutual funds as one continued investing regularly through the years especially before buying and selling etfs became free and fractional shares became possible.

[@yentsch]

I’ve never used Schwab. I do have both Fidelity and Vanguard accounts and have found what you have pointed out-Fidelity is better. I’ve been with Vanguard for over 30 years but they have fallen behind their competitors.

[@mikeflair6800]

I am not sure one is better than another. I am a Vanguard Guy 100%, opened up my 1st Vanguard / Bogle's S&P Mutual Fund in 1982, after I had just read 'Random Walk Down Wall Street'. While I don't like their website (being redone once again), they have not 'fallen behind their competitors'. How can they? If you invest in VOO or VTI, that is the market, of which they match very well at a low cost.

[@reneeann5340]

I have all 3. I use Schwab the most, that is just because that's where my Roth is. The other two are old 401k accounts.

[@Dividendflywheel]

@@reneeann5340 Fidelity is excellent. @13:10 this is my experience too.

[@Dividendflywheel]

Mr Berger @13:10 could you start your video here. This is my own experience. I have an idea for a product Fidelity could roll out. Similar concept to target date funds.

[@littlestinker9716]

"Fallen behind" is putting it lightly. My experiences with Vanguard over the past 12+ months were abysmal. Lots of phone shuffling and clueless, unhelpful employees.

[@coffeecup3177]

If you like dealing with the Overseas Call Centers after sitting on hold for 50 minutes to have the representative not be able to tell you the problems there having with your accounts not being updated or their supervisor apologizing and promising to look, into this and telling you she will follow up with you and not following up with you. Vanguard is the company to choose. What happened to a once great company?

[@0bsidianeyes]

This was so helpful, thank you! I’ve only ever used Fidelity, but I’ve always wondered about other platforms. I’ll also agree, that their customer service is good. I was actually surprised by how helpful and patient they were. They took the time to explain how I could do things myself, and weren’t demeaning like some financial professionals can be.

[@jerrypinkard-sy5re]

I recently switched from Vanguard to Fidelity due to 2 terrible customer service experiences. One at the end of 2022 and the other in early 2024. My conclusion is that Vanguard does not care about customer service. I had been at Vanguard for 30+ years. Fidelity has been great so far and my only question is why did I wait so long to make the switch?

[@cwaters3700]

Sorry about your back pain. It is tough. I know. Hope you get better soon and stay better. 🙏🏻

[@MarkDenbaly]

You are wonderfully clear, knowledgeable, informative, and HONEST. Thank you

[@rickdunn3883]

Ive been a Vanguard investor for 30+ years...have continued to see a degrading of their services, free plans, customer approach, advice...likely moving to Fidelity.

[@Wbrundog]

I am moving to Fidelity this week.

[@brentb3969]

Will the Fidelity reps help you move all of your funds over the way you want or do you have to do it yourself?

[@chrism9037]

@@brentb3969when I moved from Vanguard to Fidelity, the Fidelity reps were very helpful, no issues

[@funtechu]

@@brentb3969 You can call them up and they will help you figure out what can be moved in-kind and what has to be liquidated before moving.

[@danielclark8388]

I’ve had two 401k accounts moved to fidelity, and both times the Fidelity rep arranged a 3-way call and walked me and the other company through it. Easy and simple

[@janethunt4037]

Thanks Rob! We are reevaluating and remodeling our portfolio as my husband enters retirement. It dawned on me last week that we might want to move his HSA account. We are mainly with Vanguard, so I called them and learned no, no HSA account with them. Glad to hear that we can do this with Fidelity. I've also noticed that their bond index funds that are similar to the ones we have with Vanguard outperform them by around 1%.

[@paulmerriman2947]

Terrific presentation Rob. I do think the ability to buy and sell partial shares of all ETFs, at Fidelity, is a game changer for first time ETF investors. I'm going to put a link to this video in our newsletter. This is another example why we consider your work so valuable to do it yourself investors and why we consider you one of the best Truth-Tellers in the business. Thank you for your commitment to helping do it yourself investors.

[@chrisblock6697]

And thank you for you commitment Paul... can't begin to tell you how much you have helped me. Confidently retired this week thanks to you.

[@paulmerriman2947]

@@chrisblock6697 Thanks for your kind comment. I'm thrilled to learn you "confidently" retired this week. I'm curious which portfolio you are using for the equity portion of you portfolio. Yes, I'm interested even if it isn't a pure Sound Investing Portfolio. I hope you have as much fun in your retirement as I have in mine. It is a very special time in life.

[@chrisblock6697]

@@paulmerriman2947 Using the Ultimate Buy and Hold with Vanguard. Got into it after the 2008 debacle (I think it was the only one you had at the time?) and I didn't feel like I had clue what to do. My only exception is that I'm 6% into commodities (energy was a great buy in March of 2020). My kids, however, are 100% Equity UB&H at Schwab in their Roth's (I could buy shares for $1.00 with them and at first didn't have a lot to invest based on their income). I've, however, overweighed small cap value substantially in their Roth's.

[@alissakrasnermaizesamplify7122]

Rob, I also fell through the Vanguard cracks and lost my dedicated account rep for my self-directed account. In the past, when they made a change like this, they grandfathered clients, but this change with no notice (during the height of the pandemic, no less) should have been my wake-up call that the tide of client service was changing.

[@chipattack912]

Firms like Merrill still have this, at certain asset thresholds.

[@alissakrasnermaizesamplify7122]

Fidelity too!

[@1714allen]

Hi Rob, thanks for your content. I believe we should evaluate based on prioritization of principles/goals. Does a person need: (1). banking ? (2). a local office ? (3) best sweep interest, (4) best UI, (5) fiduciary, (6) most principled, but less-convenient access. , etc... Then, for long term, low transaction investing - the best User Interface may not be a priority. I recommend segmenting your recommendation based on individuals' goals.

[@retired8484]

The answer comes up Fidelity regardless.

[@chipattack912]

@@retired8484Fidelity doesn’t have it’s own bank and neither does Vanguard. They contract through third party banks.

[@williewonka6694]

Have been a customer of both Vanguard and Fidelity for around 35 years. Fidelity is like the premium brand and Vanguard is "Brand X". Fidelity customer service and web site design and function are simply superb. Vanguard operates more like the US Postal Service or maybe the DMV.

[@michaelevans5328]

Good job as usual, Rob. I have all three and like Fidelity best. What you can get for free at Fidelity is absolutely stunning. It's a great place for a one-stop shop -- investing and checking in one place. Just be on the lookout for high-fee products and services. And I still choose Vanguard ETFs.

[@p.c.h.6721]

I know Schwab has no ATM fees, and no international transaction fees, but what about Fidelity? Do they also give you a debit card with zero fees?

[@morganfbilbo462]

But Schwab to me, is better at phone or local office.

[@video3dvd]

Schwab has some great tools and customer support is avail 24/7. I use the Schwab Street Smart Edge Software tool to trade. However, Fidelity Sweep account would be nice!

[@p.c.h.6721]

I thought they were getting rid of Street Smart Edge, and now they are only going to offer thinkorswin?

[@video3dvd]

@@p.c.h.6721 I just logged into SSE and it was updated but said it will be transitioned into swim by August... haven't used that yet? Is it good?

[@007clownfish]

Rob can you explain the difference of excess SIPC coverage among these brokers, there seems to be nuanced differences. Thanks

[@chipattack912]

SIPC is pointless. Your funds are not commingled with the firm’s (by law) and if the firm goes out of business, your securities can be transferred elsewhere.

[@boomn216]

I have my Vanguard fidelity and Schwab ETFs all in Fidelity and kind of do it as a comparison to see how each fund performs.

[@Alex-he1ve]

How they would react on changing address of retiree who lives overseas, Europe, Central America? IRA, 401k, brokerage acoounts for expats? Do they freeze accounts, limit to use or force to move somewhere? Or US citizen living overseas has to keep "fake" US address?

[@Jozefszy]

Keep all american addresses...do everything I ng in usa....get debit cards here to..then go outside...all 3 so hard to work with outside

[@BarnabyBarry]

Use a VPN and you usually have no problems!

[@scottgoebl6194]

One of Schwab’s target market is US expats. They make it easy for us.

[@calebyee2883]

As someone who works with both Schwab and Fidelity on their advisor platforms, one of the bigger differences i see is the money market sweep that fidelity automates, as well as billpay with Schwab and Fidelity. Unfortunately the core sweep that fidelity uses isn't my preferred fund, so i don't mind the manual nature of Schwab's MMF yield regardless

[@owenpeller6471]

I learned nothing from this video however I agree with pretty much everything that you have said. I have had a Vanguard account since the 1980s and their customer service used to be better. They also used to offer more products. Over the last 10 or 15 years they have deteriorated severely

[@janc.8197]

We've been with Fidelity for 25-30 years (5 accounts), and it has always been excellent.

[@cperryisnow]

Perfect timing for this. Long term customer of Vanguard (and TRP) but considering switch to fidelity or Schwab bc of the ability to use local branch offices. Fidelity w numerous branches and Schwab w fewer. Seems like this maybe easier to walk into facilities than deal w phone triage at Vanguard when preparing to consolidate accounts. Agree that Vanguard user interface is not the most user friendly Cheers.

[@ray_glaze]

A walk-in branch office is only as good as the local talent. You should research the experience of the staff in your local office. Include the method of compensation in your analysis.

[@cperryisnow]

Thanks for the advice. I was thinking of their value more on simplicity of paperwork etc not necessarily investing advice.

[@scottgoebl6194]

Schwab has excellent customer service via telephone. I’m very happy with that and have never needed to use a brick and mortar branch.

[@ray_glaze]

@@scottgoebl6194 I'm glad your experience with them was satisfactory. Mine was anything but.

[@gieb6428]

i don't know about Branch Offices, I tried to use one a few years ago with TD Ameritrade. It was a disaster, the manager ducked out of the building five minutes before our appointment. I think she was fired and I know the branch was closed a few weeks later. As you know Schwab owns them now. Good luck

[@sampropane]

Use and enjoy Fidelity. I agree on all you stated. Schwab I like to sign up for email alerts on specific companies and they are extremely fast on releasing news wires and have many free reports that come in regularly on companies I choose to but don’t send Andy spam. I have never tried Vanguard. I also agree Fidelity planning tool is great and still willing to pay for New Retirement in parallel. Both are great.

[@patrickwal55]

Am a big fan of your videos and newsletter - thanks Rob! Very useful info, and clearly presented.

[@Yette]

Agree with each of your points Rob. I have accounts at each provider, Fidelity has the best interface, App and customer service. Hope your back is feeling better

[@robby1423]

I use Fidelity and Vanguard. There is one feature where Vanguard is better, which is their estimated dividends report that comes out in late November and then gets revised in mid December. This is very helpful for doing Roth Conversions and not going over one's target AGI. Thanks for the good review and explanation.

[@Deadrabbits1]

Where Can I put my money that can generate interest to leave on, say 1 million? Then interest earn deposited to checking account for easy access..

[@taramiller6211]

I like Schwab they have good coustomer service , and the investor checking pays the ATM fees which I like while traveling internationally.

[@p.c.h.6721]

Doesn't Fidelity also pay ATM fees, as well as no international transaction fees?

[@chausd2972]

I'm a fan of Schwab. Thank you, Rob, for this video.

[@viviancarolgioao]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[@Tonyrobs2]

If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.

[@DonaldStokes-p]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@PASCALDAB]

@@DonaldStokes-p How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@DonaldStokes-p]

Sharon Ann Meny, is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@PASCALDAB]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@ShawnKnutson]

Thoughts on using M1 vs the ones you referenced in this video.

[@bridgecross]

This makes me a little sad, because of Vanguard's history, philosophy, and the whole investor-owned aspect of the company. I wanted them to come out on top. But as I get closer to retirement and need to choose where to move my 401k, Fidelity looks like it has the edge. edit: also sad because Vanguard's balanced funds (60/40, 70/30) have *insanely* low fees.

[@KR-ei2fw]

Love your videos. My firm requires Fidelity and I have a Schwab account. As a DIY investor, Schwab appears to be better. I can see my asset allocation for all accounts. I have not figured out how to do this at Fidelity. Agreed on Fidelity’s sweep account benefit.

[@rachelonigirl]

Loved every second of my watch to the very end. You are a great teacher. I’m 46 and own a small business with $380K in savings. But I'd still love to grow my investments ahead of retirement. Do you mentor others? Really need some guidance to financial freedom.

[@Jamesjerome0]

As a beginner, educate yourself, Learn the basics of investing and the stock market. There are many resources available online, including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research.

[@Monicamonasky-]

Agreed, this is why i now work with one. I’ve been investing by myself in the market for 11 years now, but the last 6 years is with the help of a financial planner. Throughout the 6 years of guidance alone, I've been fortunate enough to 10x my return as a DIY investor, summing up nearly $1.4m roi as of today.

[@donovantobs]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@Monicamonasky-]

Her name is. 'GRISELDA ELENA JEMMOTT’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@donovantobs]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@wyoung5630]

I also have 20+ experience with Fidelity and Schwab, and I totally agree with Rob's comparison. His comparison also good to the point important to individual investors.

[@normacruz5335]

That's a solid list! I'm also big on Blcktken300 , avalanche, algo, and matic too.

[@pastormarkbrand]

I have an HSA with HSA Bank that is linked with Schwab that allows me to invest my HSA funds in everything available through Schwab. Originally, HSA Bank was linked with TD Ameritrade, but when Schwab bought out TDA it migrated over seamlessly.

[@Ferocity54]

My HSA through Optum Bank has this option as well. Do you find seamless transfers or transactions from one platform to the other? Optum has quality vanguard mutual funds, but I am hoping to have more investment options available.

[@rendezvu175]

​@Ferocity54 Optum only allows you to choose from a list. Schwab lets you buy individual stocks just like an individual brokerage account.

[@Ferocity54]

@@rendezvu175 yes. Thank you. I was inquiring about the transfer process between them.

[@markpuccio6270]

Rob, thank you for your great analysis of these firms. I have used Fidelity for 20ish years and have had a great experience with them. Their customer service is top notch. Keep up the great work!

[@boggy7665]

I set up an HSA at Fidelity & am very happy. This was after setting one up through Vanguard & was deceptively directed to a non-Vanguard firm that did business as "Health Savings". Vanguard appeared to recommend this & I couldn't tell it wasn't a Vanguard-run business until I'd signed up. The investment options were heavily proscribed and they took many days to execute a trade. Moved this to Fidelity. About my IRAs, I feel stuck at Vanguard because they'll only close all my positions & send me (or Fidelity) a check some day, not allowing an in-kind transfer to another firm.

[@garyharper2943]

I’ve used Fidelity and Vanguard and I’m staying with Vanguard. I have two funds both cheap admiral shares, can’t do any better, set and forget.

[@consciouscrypto3090]

You can buy Vanguard funds at Fidelity 🤷‍♂

[@primalpassion]

I'm very new to investing, and here's my take: I opened my roth with Fidelity, and i like the interface better than Schwab, i like the automated investing, and I like my cash collecting the current 4.5% int. I also opened Schwab for individual account, and they have the best customer service, but i don't like their interface, like you said it's too busy. No automation for my ETF's, and from my understanding no 4.5% interest for my cash at idle. I wanted to diversify and have 2 accounts, but think I'm switching over to Fidelity. thanks-

[@ggbr07]

I think Fidelity is also better to buy fractional shares.

[@davidbundesen5867]

I believe you can buy fractional shares with Vanguard lately. This just popped up the other day for me.

[@rhick382]

Schwab has fractional shares too.

[@ggbr07]

@@rhick382 I think at Schwab it works only for the stocks in S&P 500.

[@davidbundesen5867]

@@rhick382right.

[@andreslazcano6469]

@@davidbundesen5867no vanguard doesn’t allow fractional shares. They only allow fractional shares if it’s their ETFs

[@teegees]

Never had Fidelity but had Schwab for decades and their customer service is TOP NOTCH, every single time.

[@obrienortega6942]

I personally have Fidelity, Charles Schwab, and Merrill Edge. Zero complaints. Vanguards index funds need a minimum of $3,000 plus. Fidelity and Charles Schwab have no minimum for index funds.

[@TravelingtheWorld96]

Most of the Vanguard ETF equivalents do not have minimums and often have a slight advantage with regards to expense ratios to boot.

[@fatou1975]

Not index funds, u probably meant mutual funds have a minimum $3000.

[@rightwingsafetysquad9872]

​@p.c.h.6721 Sounds like the video recommends Fidelity. I've never used it. Schwab is good, but their UI on all platforms is cluttered, probably not the best if you want to mess with your stuff more than a couple times per year.

[@bradleyhurley6755]

@@p.c.h.6721 It depends. If you want to buy fractional shares outside of the companies in the S&P 500, then Fidelity is the way to go. My personal opinion is I like Schwab's research tools and layout better than Fidelity. Schwab gives you access to Morningstar reports. You can get reports from fidelity, but I prefer the Morningstar ones. Of course a lot of that information can be found on seeking alpha. Fidelity also has a sweep account that lets your money automatically get roughly 5% interest right now. So if you are going to have a lot of money just sitting there, Fidelity is the way to go. Of course you can always put your money in a money market fund yourself. Not automatic, but it can be done. I'd say either choice isn't bad. Schwab now has Think or Swim. I'd probably recommend Fidelity for the fractional shares and sweep account. Though personally I've prefered Schwab's user interface better. One thing that bothers me with fidelity is that you can't see dividend data from the app, so you have to sign in to the website. That just seems like a major oversite to me.

[@janetrobinson8925]

Thank you for sharing I am in the process of transferring my 401K and this video is very HELPFUL...thanks again!

[@brentb3969]

Are there any downsides to investing all of your portfolio with just one of these three brokerages?

[@momhouser]

Just the horror stories of getting locked out if the algorithms detect fraud-like behavior.

[@retired8484]

No. You really should have just one (Fidelity).

[@gigtrek3926]

For the cash sweep part I'll add that with Merrill Edge cash holdings have to be manually placed into money market mutual funds or similar in order to earn a decent interest rate.

[@jacko.6625]

I have a significant amount invested with Fidelity. I just want to be left alone. I don't want phone calls or emails trying to sell me "wealth management" advice. I've threatened them that I will move my investments if they don't leave me alone. This works for a while, but with employee turnover, it starts up again after a few years. If these "advisors" were so smart, they wouldn't need to be working for Fidelity.

[@zoner__]

Merrill does the same with cash balances. I have started moving more of my assets from Vanguard and Merrill to Fidelity. I keep the other accounts just for access to research.

[@KatieLibby1315]

What are the benefits of using multiple platforms? I was all Vanguard in my youth. Now I have moved everything to Fidelity, primarily to reduce fees, ease of use and to simplify my accounts.

[@private464]

This is my question as well. Why not just Fidelity? Is there any downside to having it all on 1 platform? Thanks

[@Shawn-oh5yq]

People seem to think that if one of them blows up you won't have all of your assets with one provider.

[@WKre123x4]

Maybe not a ‘benefit’ but the reality of changing jobs and tech changes at brokerages. I had IRA with brick and mortar bank until 2009. No easy way to transact, so moved to Vanguard. My company was with Schwab, so 401k set there. Brokerage was with VG, but UI experience was meh, so I opened with Fidelity. Now consolidating into Fidelity, so future will be easier.

[@Dividendflywheel]

If one firm goes belly-up you don’t have to wait till SIPC makes you whole. What is the FDIC limit on accounts (Silicon Valley Bank) What is tge SIPC limit on investment accounts 😊😊😊. Don’t wait to find out “after the excre?!a hits the fan” Don’t forget BearSterns , Lehman Brothers, and Merrill Lynch all became insolvent in 2008.

[@Dividendflywheel]

@@private464 Don’t forget Lehman Brothers, Bear Sterns in 2008. And last year Silicon Valley Bank. 😊 Stay under the FDIC limits and SIPC limits. Stealth wealth tactics.

[@NormanOkada]

Great video. I too have had all three and Fidelity the best for my needs. I love the educational and planning tools, but by far the 5hing which keeps me with is the customer service.

[@maaxt]

Here is my experience. Vanguard (since 1992) seems to be moving from the Bogle emphasis on investors toward selling services. Fidelity (since 2009) okay but nothing special for our needs with an emphasis on selling services. Schwab (since 2022). Has been terrific. We inherited some brokerage and ira accounts at Schwab. Their phone support is stupendous. If the rep does not know the answer then they get an expert. No long waits for the rep or expert.

[@Dividendflywheel]

Agree with you on vanguard. My investing mentor tried to steer me to Vanguard. But my conversation with them left a bad taste in my mouth. Never looked back.

[@OldNavyGuy]

Your experience at Schwab has been mine at Fidelity. Fantastic, knowledgable customer service.

[@teddyb4168]

Schwab is a mess stay away. Our rep on our sheets for years and who set up account didn't know she was our rep 🫣

[@morganfbilbo462]

Totally agree about service at S. Even if I call the local office to speak with my advisor.

[@Krayzo093Bosspimp]

Fidelity is pretty easy to navigate and understand and plus fidelity give you useful tools to understand.

[@simone_maya]

Before I stopped dca-ing into my Vanguard account, it was 220k and has now depleted to 175k in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 42 years of working hard.

[@lymanjoy]

Index crediting account that still makes profit but you cab never loose money

[@oddballchic]

How did you rebalance your account?

[@WKre123x4]

Good analysis of the offerings. The major 3 all had benefits at one time or another, but some have taken their foot off the accelerator. At the moment, Fidelity meets my needs and in the process of consolidating the others into this one. By having all in one basket, my net worth with them increases, and some fee waivers (ATM) become available.

[@Dividendflywheel]

My experience with Vanguard customer service turned me off. Fidelity customer service is top of the heap. Wish all their products were as competitive (cost and performance) as Vanguard. Schwab customer service is excellent too. But I feel Fidelity website is easier to navigate than Schwab

[@onlywenilaugh6589]

Vanguard sweep is 5.28%, been that for quite a while. I think it dips to 5.27 as well. VG fees are less which led me to use them and now I'm not going to move it all unless some big reason. So I put p with some of VG shortcomings for cheaper fees.

[@Jack63141]

Agree that Fidelity has more options and user friendly. I just logged into my Vanguard account -- previous login was back in February to get 1099s. Under "portfolio analysis" my overall expense ratio is 0.04%. So for the boring, just let your money grow, functionality it is still hard to beat Vanguard!

[@patrickmorgan4006]

Does anything else really matter but letting your money grow?

[@ajsomp]

You can replicate that elsewhere- especially if buying ETFs. Fidelity has mutual funds like FXAIX which have an expense ratio of .02 - which tracks sp500 like VFIAX for lower costs. Things to consider especially when Vanguard has such a terrible platform to use even for routine retirement investing. I’m likely moving my retirement accounts as well as my wife’s to fidelity simply because I’d love to have everything in one platform that is easy to navigate and use, and a regular brokerage account which allows for fractional etf purchases of more than just vanguard funds

[@retired8484]

And it's cheaper at Fidelity, and has been for many years.

[@michaelvillar1243]

Hello Rob, thanks for the great video. I kind of feel like an idiot after watching because I have a Schwab account and for over a decade have kept 10% cash in the sweep account. Should I transfer over to a Fidelity account, or I’ve seen some people recommend SWVXX. What would you recommend?

[@jtsdeals]

Fidelity is my favorite for investing (write put options against the sweep balance that's earning great interest) and the 2% card is good. Merrill edge paired with a BofA cash rewards card gives amazing 5+% cash back on specific categories like restaurants, groceries, and gas.

[@johnsalvatore1473]

How much interest do you earn with the options?

[@jtsdeals]

@@johnsalvatore1473 The interest is on the cash used to secure the puts, it's nearly 5% at fidelity in the default SPAXX money market sweep.

[@morganfbilbo462]

My complaint with credit cards is that I can't get the best % on any one card. I need Discover for restaurants and Mastercard for gas, etc.

[@torchy187]

Fidelity cash sweep is awesome and they don’t charge you to close options for .65 or less.

[@stevefrey2990]

No mention of security and 2FA.

[@chrisc3118]

Schwab is superior for online security compared to Fidelity. A customer can set up a 200+ character password plus use a security token. Fidelity's only uses around a 20 character password, but can also use 2FA or a security token.

[@WardCo]

@@chrisc3118 Of course, a security token IS 2FA, but I take your meaning.

[@joele2748]

Thank you, sir! Subscribed!

[@MikeSellersGA]

Greatly prefer Fidelity for its ease of use and, because I’m a graphic designer, the interface is so much more appealing. May be superficial, but there it is.

[@miketracy9256]

We have used Fidelity for over 40 years and have never had any complaints. If anything, they are even better now than in the past.

[@gnoekus]

Uncle Rob, could you do a video on retirement planning for singles who wish or aim to spend it all - or as much as possible during one's retirement life, depleting a portfolio while managing it as best as possible (the hard part is to predict one's life of course). Most strategies aim to protect and preserve the principle fully which don't work for singles. Thanks Uncle Rob.

[@morganfbilbo462]

Ouch! That's what I was doing until I was 79 yrs old and got married. That threw a monkey wrench in my retirement plans. I do not advise planning on being single all your life.

[@gnoekus]

@@morganfbilbo462 :) OH wow haha, thank you Uncle Morgan lol ... I'll take note of that.

[@AlinnaAcker]

I have good experience with Fidelity' customer and website's UI. What do you think of Fidelity's paid advisor service?

[@austinpop]

Thanks for yet another useful video! I too have a nostalgic fondness for Vanguard and their leadership in index funds. Vanguard has another positive and negative I didn't hear you cover. On the positive, their 529 plan (through Nevada) is great. Limited choices, clunky UI, but low expenses, gets the job done. The negative is a big one, and a reason why I moved all my brokerage holdings over to Fidelity. Vanguard does not allow beneficiary designations for joint accounts! I discovered this after having just dealt with my parents passing away within weeks of each other in India. Having to deal with some of their accounts without nominees (an Indian term similar to beneficiary), I came back home to the US, and rechecked all our accounts. Vanguard's response blew me away. The rep I spoke to said they didn't consider beneficiaries for joint accounts to be necessary or relevant! I'm very pleased with Fidelity overall.

[@lailaatallah1857]

Holy cow. That sounds insane! How many elderly pass away and then their elderly spouse likely might not ever think to or be competent to check all accounts- especially joint accounts - and ensure there is a beneficiary assigned?!

[@RichClark-fk6qw]

Just started at Fidelity, seems easy to navigate and haven't had any problems yet!

[@bingoknows]

I always point to Fidelity to anyone who is new to finance, wants to get into investing, or just wants an alternative to brick and mortar banks.

[@p.c.h.6721]

Hi, any idea if you can trade futures with Fidelity? I need a new broker.

[@johnbeeck2540]

Thanks for another great video Rob! Almost 200K Subs!

[@Lostboy_joshyt]

As a vanguard investor this has hurt my heart to see it get a beat down like this :(

[@Bryguys91]

vanguard funds / etf's are still some of the best. Just their website and brokerage services are not

[@afsoto]

Schwab is also exiting banking ( as per 2nd quarter earnings call ).