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

Biggest lesson i've learnt in 2024 in the stock market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.

These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.

I have an Investment portfolio that's worth $1million, I don't think that'll be enough for retirement. I need an average risk investment strategy in stocks that'll give me more yield.

I squirelled away cash for a rainy day, but with inflation pouring down, it feels more like a leaky bucket. Saving for retirement seems impossible if my money keeps losing value faster than I can earn it.

I' ve got £100k to invest. I want to build a nest egg for when I'm older. I want to know if it's a good idea to add all my savings into a long term ETF, set and forget Come back in 20-30 years, instead of 250-300 DCA every month. Which ETF would you recommend.?

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".

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.

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.

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

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

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.

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.

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.

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

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

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

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

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

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.

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.