Special Edition

This newsletter is brought to you by our partner, SmartAsset.

Research suggests that people work with a financial advisor could end up with 15% more money to spend in retirement.¹ | Photo provided by SmartAsset

Who are you partnered with? It’s no secret that Vanguard, Fidelity, and Charles Schwab are considered three of the most popular well-known brokerage firms. But they stack up slightly differently when it comes to fees and their specific suite of services. If you’re interested in getting financial advice, consulting a fiduciary financial advisor can be a great first step.

Why? While advisors are prohibited from promising returns, research suggests that people work with a financial advisor:

feel more at ease about their finances, and
could end up with 15% more money to spend in retirement.¹

So, what are the basic differences in firms?

Vanguard offers low-fee investment products such as mutual funds and exchange-traded funds (ETFs). The firm has grown to now offer non-proprietary investment products and funds.

Fidelity offers personal investment products, namely brokerage accounts that allow users to trade stocks. Fidelity also makes an effort to provide investment resources to its clients and doesn’t usually charge fees on all trades.

Schwab has a number of passively and actively managed funds that you can invest your money into, as well as the option to trade individual equities. It offers free robo-advisor services and has a human advisor option as well.

Okay…so how do I find an advisor?

SmartAsset’s no-cost tool matches you with up to three vetted financial advisors serving your area, each legally bound to work in your best interest. While your advisor matches may not necessarily be associated with the above institutions, in many cases, you can be connected instantly with an advisor to interview.

Ready to know who should work with which of these popular firms?

See the comparison

Asked

Should I take RMDs monthly or annually?

Try this no-cost tool to get matched with up to three vetted financial advisors who can help answer your questions and potentially help you work toward a comfortable retirement.

Ask an advisor

Sources:

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.

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.

This article contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firms mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.

SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party advisers registered or chartered as fiduciaries (“Adviser(s)”) with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire.SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user’s account by an Adviser or provide advice regarding specific investments.

We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries (“Adviser(s)”) with a regulatory body in the United States). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.

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