Brokerage account schwab vs fidelity reddit. Then we come to Fidelity.

Brokerage account schwab vs fidelity reddit Fidelitys credit card looks better, just straight 2% cash back directly in your brokerage account. I have them currently at Fidelity, where some of my stocks are fractional shares, and Earlier in the year I signed up for a Charles Schwab Investors Checking account - mostly to have an ATM fee free card to use - and got their brokerage account as well. Fidelity is 1 day faster in ACH transfers getting to my banks, even though both Schwab and Fidelity take the funds out of my brokerage account the same day. I have researched VanGuard and Fidelity and it seems like there are lot of restrictions. You want to hold index ETFs (rather than the equivalent index mutual funds) in your taxable account. r They are both great. Fidelity: HSA; Small taxable brokerage account I opened to see if I liked it better. I have an idle brokerage account at Schwab and an accompanying checking account. While I prefer the Schwab interface, I kind of like that my assets will at least be divided in a significant way between two different brokerages. Simple way to buy Treasuries as well. 5% v 2%) Debit card is pretty good with refund of all international fees incl. I have index funds at both: my IRAs at Vanguard, my non-tax advantaged accounts at Schwab. With Schwab, you have to You open up a schwab brokerage account and basically use it very simular to a checking account You can deposit cash into the brokerage account, you can write checks from your brokerage account, you can get an ATM card and with draw cash from your brokerage account, a schwab brokerage account has almost all the features of a schwab checking. Schwab > Fidelity I'm probably in the minority here, because after the Gamestop Robinhood fiasco the majority of redditors have defaulted to Fidelity and then have echoed that preference. Additionally, the user interface is much better. With Schwab, ATM fees are refunded at the end of the month, Fidelity refund you the same day. Questions for pro users of WF. IMO Fidelity has a nicer looking site with a lot more features (performance tab, tax totals YTD etc. r/FinancialPlanning. You can pay anything, including CC bills, using Fidelity online bill pay from your brokerage account. 5% interest checking. At the end of the day, you could open the checking and brokerage account at Schwab, the CMA and investment accounts at I opened a Fidelity brokerage account about two weeks ago after literal days of research on who to go with. Schwab makes their money on this Credit card is not as competitive as Fidelity (1. Schwab is for some additional brokerage accounts set up with TOD beneficiaries - this avoids probate. Reply reply Hi, u/Sweetwater1973, I'm happy to highlight the features of Fidelity's Cash Management Account (CMA). A few things I’ve noticed: Vanguard has some great index mutual funds/ETFs. Good luck, and good for you for starting so young! We would like to show you a description here but the site won’t allow us. It's only a few years old so it's not that big. Compare Fidelity and Charles Schwab to see each broker's fees, features, and ratings side by side and find out if Fidelity is better than Charles Schwab. It doesn’t matter. I have my Roth IRA and HSA at Fidelity, and like that I can have both in the same place. I've had accounts at ETrade, Schwab, Fidelity, and TDA. ETFs are free to trade (on almost every brokerage) so you can buy Schwab, Vanguard, Fidelity or any ETF you want - within your Schwab brokerage account - with no trade fee. ) have decent fund offerings in the various different bond type / duration ETFs versus Index funds for IRA and Brokerage account comments. I moved my checking and 5 figures of money market accounts to Fidelity for the same reason as you, but left 7 figures at Schwab because they do a good enough job of holding my equities and intermediate and long term bonds. The fact that banking is somehow kludged into trading, makes it difficult to find basic functions. Customers can use the CMA as a replacement for their bank checking account or they can use it in conjunction with their existing checking I am new to stocks and am using the intelligent brokerage account on schwab. I've tried fidelity, Schwab, E-Trade, IB, other large and small brokers over the years. Might give you another options for checking account. Truly understanding Fidelity’s account types and their features will dictate your decision. Both the Cash Management Account and the Fidelity One Brokerage account are very similar and have basically the same features. Get the Reddit app Scan this QR code to download the app now How Charles Schwab compared to Robinhood brokerage account . Charles Schwab: $0 commissions + satisfaction guarantee at Charles Schwab. They used to have great checking and HYSAs a decade ago. Surprisingly, the fidelity index funds aren’t front and center. Maybe alternate annual IRA contributions between Schwab and Fidelity. If you are asking about ETFs, then The answer is Vanguard, since Fidelity does not have them. Schwab is the worst in this. Charles Schwab is great for investing and banking. Both offer unlimited ATM fee reimbursement worldwide, though Schwab's has no foreign transaction fee when purchasing. None that I can think of Schwab doesn’t offer HSAs. Vanguard: does not offer promotions. Not sure what you mean about linking it to your Citi account. You have a choice between SPAXX, FDRXX or FCASH, SPAXX and FDRXX both yield 4. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. Fidelity has a nice, 2% credit card. My Ameritrade brokerage account is getting converted to Charles schwab. Schwab comes to mind. So if you prefer having a Schwab account (due to their better customer service/experience and I say that as a Vanguard fan) then feel free to open one up and buy VTI or SCHB or ITOT or whatever you like that covers a broad US index for a main US total market holding. 45% Also, curious how do you see the expected price you pay on a brokerage like Fidelity. Pros for Schwab over Fidelity: - Schwab is a real bank. So I feel comfortable in using its website. The app works well and I appreciate the in-house index ETFs. Apparently, I made a few trades In my standalone brokerage accounts on Columbus Day with money that hadn’t quite settled yet (bank holidays). I use both their brokerage and CMA accounts. but it is a brokerage account, and you can buy/hold stocks, bonds, funds, brokered CDs, and other securities in I've had accounts at ETrade, Schwab, Fidelity, and TDA. , Fidelity, Vanguard, Schwab, Blackrock / iShares, etc. This is Since you're interested in ETFs you can hold them in any brokerage you like. Its totally weird. EU citizen and resident holding an IBKR IE account right now, investing in Vanguard All-World ETF. SPIC protects up to $500k per account per brokerage firm. I think Charles Schwab was phenomenal, has great customer service, and they didn’t restrict trading in January during the GME situation. I do invest in index funds as well to buy and hold for the future with my Roth IRA and some with my brokerage, but am looking to do that with all my investments. This sub recommends Vanguard, Fidelity, or Schwab. Fidelity is good I have accounts with them, Schwab, and Merrill Lynch. I have some cash that I'd like to transfer from my Schwab brokerage account to my Fidelity brokerage account. Meh. I do like that Schwab has a true bank and you can set up a separate, real checking account if that is something that interests you; whereas, Fidelity only has a Cash Management Account option, which functions like a checking account, but I still prefer the true checking account Schwab offers. Although we can’t help here with specific account service issues, Brokerage accounts are regulated based on the country that they may wish to offer services. As I mentioned in the OP, I couldn't link a bank account to my new individual brokerage account without calling the (800) number and It looks Charles Schwab debit card has the best reviews. I have the brokerage account due to the “what if” of me having a large unforeseeable expense and need to liquidate it I know it’s there and can pull funds without a penalty, the downside of this account is it’s not very tax efficient. The only time it might make sense is if you were one-stop shopping @ Schwab, and you wanted a touch of redundancy, but then a little cash in a HYSA at a local brick and mortar branch would probably do you better. related question. At Fidelity, any uninvested cash deposited in a Fidelity brokerage account is automatically put in a money market fund now earning 4. Wondering if I should make the switch (or at least transfer Fidelity is the brokerage firm for you if you want to trade cryptocurrencies, while Schwab is the right choice if you want to trade futures. anyone have any luck getting a bonus out of it from the new broker (in addition to covering the account close fee). I have friends with Schwab, I have never used Schwab. I like their interface a lot for this purpose. Picking one and sticking with it until you come up with a reason to diversify or switch is a fine strategy here. Hello. should I take the effort to move my accounts to As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. I view this as our safety net. I looked into Fidelity and they offer a all in one HSA/HSBA. It's more a matter of customer service, web site design, app, etc. Before that, users had to pay a massive fee to buy a competing broker's mutual fund. Fidelity already has the best HSA on the market, and it includes a brokerage account through Fidelity. If you are asking which to use for mutual and index funds. So my questions are: What is your experience with the Fidelity debit card? Is there really no hassle in getting reimburse with ATM fees? I have brokerage accounts at Chase, E-trade, Computershare and Fidelity. It's easier to execute a trade on fidelity (this can be good and bad) It's easier for me to access and digest third party research on td Td and Fidelity both offer similar webinars and I have brokerage accounts at Chase, E-trade, Computershare and Fidelity. I already have investment accounts (Schwab, Fidelity, IB), as well as several back checking/savings account (Ally, Chase, Capital One, US Bank). Although we can’t help here with specific account service issues, we can help troubleshoot and point you in the right direction. Schwab is much more lax. Schwab doesn't offer a checking account separate from a brokerage account. You'll only be able to sell and cannot add or move funds. The product is called fidelity government money market fund SPAXX 4. Slow fund transfer/hold, etc. If you apply for the Investor Checking account, they will also open a brokerage account to link it to. Schwab cheaps out on account holders and makes their default cash account a deposit held at Schwab has its own bank with checking and savings accounts, so it is not the same as Fidelity's CMA. What I have noticed about RH is it will fill in your orders at the worst possible price at the time of submission. ($35 annual fee vs Schwab/ Fidelity is free. Reply reply Schwab doesn't sell I-bonds, I think that's only Treasury Direct. Are you saying that I can set up autopay from the brokerage account and it will autoliquidate the MM acccount to pay? There is no significant difference between any of them because you can basically hold the identical assets in each. Because of that, I stick to more Fidelity and Vanguard. Currently have 401k & old HSA with Fidelity, and checking account with Schwab (and a brokerage since that was opened automatically). But afaik - Fidelity/FMR does not directly offer retail services in Australia. Then Schwab, then Vanguard. Schwab is the only brokerage firm of the two We've had accounts at Schwab longer than Fidelity but I prefer Fidelity. From the fine prints: "The Schwab 529 Education Savings Plan is available through Charles Schwab & Co. 2%) currently. Entire teams can get moved and then forgotten about. I have regular brokerage accounts for all 2 of my kids and a custodial for the you guest one. And funds are available immediately. TL;DR. All of the Fidelity debit cards, regardless of the account type are subject to daily limits. fidelity is fine. I would say Fidelity, Schwab, and Vanguard are probably the most reliable. None of them are perfect, but fidelity has the I have all three but use the checking of Schwab; HSA, brokerage and credit at Fidelity; and IRA and brokerage at Vanguard. If you are interested, might as well just open the checking and brokerage at the same time. I used to have my work 401k in Fidelity, my IRAs with Invesco, and a brokerage account with USAA (before they transferred those accounts to Schwab). At least in my account, it is not possible to transfer funds into the Solo 401K unless I go to the branch I'm looking for a solo 401(k) plan. Fair enough. I do like that Fidelity has good fund choices and also allows purchasing fractional shares. I have somewhere between three and 400 shares of AMC in a brokers link account right now but I’ve been locked out. Imo, this is a good enough reason to open other accounts with Fidelity. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Accounts I still need are Roth I recently did a transfer out of Ally into Fidelity via ACAT ($50 Ally fee). I have accounts with Fidelity and Vanguard. will be opening up a standard brokerage account later this year as we will be maxing the 401k, HSA and both Roth IRAs. Fidelity vs. If you are a legal resident of the US, you should be able to open an account. Customers can use the CMA as a replacement for their bank checking account or they can use it in conjunction with their existing checking Not sure it matters to you, but Schwab has the checking account bundle. Fidelity also offers more types of accounts. Schwab has no foreign transaction or ATM fees (this mattered to me a lot more when I traveled more). Just wondering whether I should open it via a different brokerage firm like Fidelity. We do not allow any outside I've got mine in Fidelity. If you do choose to engage in non-option day In my opinion, if you're a passive index fund investor with basic needs (a brokerage account or two, checking account, debit card, IRAs), you can't go wrong with Fidelity, and Schwab isn't From my understanding Fidelity has a money market account that acts like a checking account whereas schwab you have to buy and sell to use it, otherwise it's a . Schwab has been very easy to use and no real issues. I like Schwab’s debit card for traveling. I can fund my individual brokerage account, my HSA, and my IRA by transferring funds into it online. From my understanding Fidelity has a money market account that acts like a checking account whereas schwab you have to buy and sell to use it, otherwise it's a . I've tried both brokerages and while both are very similar Schwab doesn't spam you as much as Fidelity does and has far better tech support. Or check it out in the app stores Fidelity vs. With all of that said, I'm looking to start brokerage account with either Fidelity or Schwab and I'm leaning towards Schwab and wanted get recommendations from those who have used both for someone new to trading. They offer a brokerage account that can be used inside of an HSA if your HSA provider allows this arrangement. 45% In truth, I’ll maintain something at Schwab, probably 90% at Fidelity though. Now I am thinking to open a new IRA account. Best Paper Trading Platforms for 2025 Best Rollover IRAs for 2025 Best Stock Brokers & Trading Platforms for 2025 Best IRA Accounts for 2025 Best Brokerage Firms for High Net Personally, if I liked Fidelity over Schwab and I had to do a transfer regardless, I would do the transfer to Fidelity. Really the main differences are interface if you are self directed. I’ll tell you now schwab is massive. Fidelity offers a pseudo fintech solution (CMA) for banking. Fidelity has zero fee index funds (FZROX for example). Schwab is offering me $2,000 to transfer $500K+ worth of assets to them (matching a Citi offer) and Fidelity is offering me a $1,100 retention bonus to stay with them. I've been using my personal Fidelity brokerage account more recently, as I've realized how useful some of the account features are. Another ape 🦍 had it happen to him, too. As you would only need it if Schwab for some reason was down for some reason or your account was locked for a bit, etc. Reply reply BoxerRumbleEJ257 • I would urge you to read the link u/Kashmir79 posted, which gives a general overview of several types of bond funds available, which can help get you started. However, if I could go back in time I would have opened an account with Fidelity. Schwab's sweep option isn't competitive. I would greatly appreciate any insight! I have used all three. Mostly to consolidate my accounts in one place. The SIPC will cover up to $500,000 in securities (money market funds are treated as securities), including a $250,000 limit for cash held in a brokerage account. Schwab probably does to, but for me they didn't let me by default when I opened the account years ago. Hours: 7am-10pm ET M-F, 11:30am-10pm ET Sat/Sun As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. The other 3 accounts were opened *for* me by various employers for depositing RSU's and ESPPs. Fractional shares on ETFs seals the deal, and can buy fractional amounts under $5 and on most stocks not just s&p500. Not really worth thinking too hard about this. This takes pressure off me to buy stocks after selling, I can simply wait and earn about 5% on my money while contemplating my options. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. If you’re going to open a custodial account Fidelity does offer fractional shares and that might interest him since he can buy into companies he likes, 5-10% on single stocks is not bad. It works great, I have no complaints, except for slightly lower APY (4. If you travel internationally, I highly recommend a Schwab bank account, which refunds international ATM fees. Get the Reddit app Scan this QR code to download the app now Looking to open a taxable brokerage account for general investing. My 401k and Roth IRA are through Fidelity. Think of your Fidelity account as both a brokerage account and checking account smashed together. If you open an ira at vanguard, you are limited to $6500 compared to the limit of 20,500 for a 401 or 457 account. Thus, a taxable brokerage account is inherently better at Fidelity. The difference between “The Fidelity Account” (TFA) and the “Cash Management Account” (CMA), is a bit elusive, but here’s what I think I know: CMA features NOT offered by TFA 1) FDIC insured, 2) Cash Manager - Overdraft Protection As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. They have a 1% annual contribution match and their recommender basically auto invests you into VTI, VEA, VWO, and BND. I was part of their new transitions for TDA clients to call in with questions about their accounts now at Schwab and there would be days I had only 5 calls in 8 hours. They are very similar. I can't talk to how easy their site is to use, since I'm in an actively managed client. That's when I used Fidelity's cash management account. There’s nothing I also hold my “fun money” (read: individual stocks, don’t come at me bro, it’s 5% of my portfolio) taxable brokerage account here. I have Fidelity account, check cashing, 401K through them. The Bloom debit card does not have ATM fee reimbursement like our Cash Management Account (CMA). The differences between the two are minor. Congrats. However Schwab offers ESA accounts which I prefer for my kids vs Fidelity only has the 529’s. TD Ameritrade (and likely I have opened a regular Schwab brokerage account for some years now. It's one of the official plans offered by one state. (both pre-tax and Roth), vs taxable account (Vanguard, Fidelity, etc) You could also open an IRA (pre-tax or Roth) with those companies, which is You open up a schwab brokerage account and basically use it very simular to a checking account You can deposit cash into the brokerage account, you can write checks from your brokerage account, you can get an ATM card and with draw cash from your brokerage account, a schwab brokerage account has almost all the features of a schwab checking. Plus this way if one of my accounts gets a security freeze or something I can still access the other. I find it beyond complicated. I also opened a 529 for my new baby. Yes. However, you can buy those ETFs through either a Vanguard or Fidelity brokerage account. 99% 7-Day yield comments. There is no minimum balance in the checking account. Everyone's experience and expectations are different. Vanguard is pretty much phone and internet only, unless you live in Pennsylvania. , Inc. Schwab's Investor checking is a real checking account linked to a brokerage account, while Fidelity's CMA is a brokerage account that has check writing and debit card. I don't think there is a high yield savings account, but you can quickly move Fidelity does not offer a true checking account but you can either open their Cash Management account which is a brokerage account with check writing and debit card enabled automatically - Schwab is a real bank. But also keep the Schwab account around. g,. VanGuard -- You can only invest in their mutual funds (you can't buy stocks) and the fee is $20/per mutual fund per year. Vanguard Flip a quarter, or both. Checking/debit is great for international travel as they refund all ATM fees. I opened one with them and will eventually transfer but where I'm at now my account is up 70%+. Fidelity is certainly superior as a brokerage and the credit card with the 2% is nice if you have a College Savings Account you are trying to put more in every month. Fidelity vs Vanguard vs Schwab: Results Vanguard didn't come out ahead in a single category, Schwab won two categories, Fidelity won once, and there were four ties between Schwab and Fidelity. *For Fidelity Cash Management Account owners, Youth Account owners or Fidelity Account owners coded Premium, Private Client Group, Wealth Management, or with household annual trading activity of 120 or more stock, bond, or options trades, your account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity Debit Card at With all of that said, I'm looking to start brokerage account with either Fidelity or Schwab and I'm leaning towards Schwab and wanted get recommendations from those who have used both for someone new to trading. It isn't a generic plan. Compared with Schwab they also have more fee free fund options and better execution but it's not much of a difference between them compared to the junk brokers like Robinhood. If they're experiencing issues, then the smaller brokers are definitely experiencing issues. Fidelity is more of a one stop shop for me because the cash management with some automated options is pretty convenient and they have a great HSA. They are also more willing to transfer Since you're interested in ETFs you can hold them in any brokerage you like. But I have been using Fidelity as my main brokerage account and I saw that Fidelity also offers a debit card with no transaction fee. From what I have read it seems the Vanguard HQ is a top secret installation and they discourage human visitors. Everything seems to be geared towards active stock traders. I just opened a brokerage account through Fidelity (haven't put any funds in yet - it says it takes 4-7 days to connect to my bank account). I use both Fidelity and Schwab currently and RH is just a play account. Fidelity gives me a routing number and account number saying that it is good for direct deposit. I was looking to transfer my HSA also but Schwab doesn't offer a HSA, only the brokerage. ) I also find that I get slightly better order fills with Fidelity versus TDA. All Fidelity brokerage accounts are covered by SIPC. foreign transaction fees; while Fidelity will refund all except the 1% FT fee. Then we come to Fidelity. Fidelity and Schwab have good free checking accounts. Pretty much all the forums, subreddits, groups, all pointed towards Fidelity being the winner. I tried to add it as an External account to Schwab, which used it to do a trial deposit but failed. I haven’t had any issues with Fidelity holding my checking account with brokerage accounts. Join our community, read the PF Wiki, and get on top of your finances! if you live in the west Schwab has offices. Moving to the US soon and IBKR support advised me that once I move I should open a new IBKR account with their US branch and move my assets there (already familiar with PFIC, so I know that moving my European ETF is not a good idea - probably gonna sell everything and SIPC is not a governmental agency and does not cover investment losses due to market fluctuation. Get the Reddit app Scan this QR code to download the app now. I guess most popular products like ones that follow index funds are quite similar between Fidelity and Fidelity and Vanguard let you invest before transferred in money settles. The thing I’ve ended up liking best is the help they provide rolling past employer plans to fidelity. I have accounts with all of Schwab, Fidelity, and Vanguard and they're all fine enough for Boglehead style investing. should I take the effort to move my accounts to The Fidelity CMA is a brokerage account, but the core settlement for it sweeps cash into a FDIC bank account. The best IRA for Bogleheads these days is Robinhood. All of the money in these four accounts is invested in a Fidelity Target Date Fund. Fidelity has a similar debit card option too where ATM fees are waived. I had Schwab until a coworker informed me of this: At Fidelity, any uninvested cash deposited in a Fidelity brokerage account is automatically put in a money market fund now earning 4. Schwab’s high yield investor checking account (fancy name for a checking account) Schwab individual brokerage account Maintain a local Navy Federal checking account Paycheck is direct deposited into my Schwab checking account. I'm an ETF-only investor and you cannot buy partial shares of ETFs at CS (you can buy partial shares of individual stocks). I keep enough here It looks Charles Schwab debit card has the best reviews. You can access cash in it using ATM/debit, checks, ACH/Direct Deposit, and most any way you would access a bank account. I am a relative beginner and would like to invest in fixed income products with a good general banking option. But I merged all brokerage accounts in one brokerage to consolidate my total power. I like that I can use Fidelity as a primary account for holding cash and paying bills while earning a decent Which is better Schwab VS Fidelity for Roth IRA? The answer is Fidelity because uninvested cash in a brokerage account converts to SPAXX 4. I couldn't link a bank account to my new individual brokerage account without calling the (800) number and updating my phone number, so I could If you open a brokerage account at vanguard you are using post tax dollars. Fidelity probably has the nicest website. I think they pocket the differences. But other than that Charles Schwab is great. But TDA/Schwab is better if you do a lot of trading. I use both. - Fidelity's unusually long account numbers can cause problems for paying bills My reasons for picking Fidelity over Schwab/Chase: Fidelity automatically sweeps cash to earn almost 5 percent (SPAAX) money market rate vs less than about . Welcome to our subreddit, u/SquidGamePlayer456!We're happy to have you and appreciate you considering us for your banking needs. Schwab doesn't offer this at all. In other words, you're not going to get any different "compound interest" choosing one or the other. 45 percent at Schwab. Fidelity works well. Or with any other vendor. And when an employer uses fidelity, it’s all in the same online portal. Fidelity: Currently, no promotions. and is managed by American I have Schwab and Fidelity but I honestly find myself using Fidelity as my main. Over the last few years I've consolidated a bunch of accounts into Fidelity. In truth, I’ll maintain something at Schwab, probably 90% at Fidelity though. org. All of them are roughly the same. Works for me. I Fidelity vs. Now I'm wanting to get back into the stocks game and possibly investing, and I have an INvestor checking accout and a linked brokerage account with Schwab. Schwab has a Amex platinum card that gives some money off of it if you have more than $250k with them. 99%. Fidelity EFT transfers are processed the same day and you get your funds in your other bank account the same day. With Fidelity you get direct deposit 1 day earlier, with Schwab is on Fridays. So my questions are: What is your experience with the Fidelity debit card? Is there really no hassle in getting reimburse with ATM fees? if it's for a taxable brokerage account - Vanguard mutual funds can be converted to ETFs without a taxable event Schwab's debit card is great (no foreign transaction fees, no ATM withdrawal fees worldwide) Fidelity's debit card is great (largely same as Schwab, but has a Truly understanding Fidelity’s account types and their features will dictate your decision. The account at Chase was opened *by* me to get a "private client" status which helped me get a 2% mortgage rate. 99% is 7-Day yield as of November 10th 2023, in comparison Schwab is 0. my question is if there is another style account that would provide tax advantages while at the same time not having a penalty for pulling funds from the Having worked for schwab. It’s just in FZROX instead of VTSAX. May move entirely over time. Basically, you'll be shutdown. The sweep/cash funds at Vanguard and Fidelity brokerage accounts pay out higher now just sub 5% but Schwab is functionally nothing. I get a lot of advertisements from Robin Hood saying 4. Fidelity is much more risk adverse and wanted full copies of trusts and LLC paperwork when setting up trust and LLC accounts. I also have Schwab checking, brokerage, and Roth accounts and they’re good too. The interest on SPAXX is also superior to Schwab. The Fidelity CMA is a non-retirement brokerage account designed to meet a customer's everyday spending and cash management needs. , while Fidelity is way faster. I use them for everything except for my second HSA that I use fidelity for. I recently transferred to Fidelity from Charles Schwab. Plan to be adding $500/mo for now and eventually up that to $1000-$3000/mo. I have a Fidelity cash management account and use TDA/Schwab for a work 401k self-directed brokerage account. I'm currently using Ally as my main checking account for all payments. I ended up choosing Fidelity because their Brokerage account has a core position that all cash are automatically invested in. With commission free trading, you If you invest through another brokerage, be aware that Fidelity has a good TIPS fund and both Schwab and iShares (e. For instance I prefer my extra/emergency fund to be in Fidelity cause it gets auto invested better than it does at Schwab. I only bring this up because many of my friends are chefs and travel a lot. Prove me wrong. So Schwab users stuck with Schwab funds, Fidelity with Fidelity (or their ETF partner, BlackRock), and Vanguard with Vanguard. From here, I would recommend you decide if you'd We get all ATM fees reimbursed for our brokerage account so that is not an issue. I wanted to get your thoughts, especially from those folks that have used all three brokers, on the pros/cons of Vanguard vs the others. Account opening takes somewhat less effort at Charles Schwab compared to Fidelity, deposit and I wanted to open a Charles Schwab checking account, but it appears you need to open a brokerage account along with it. We only ever pay bills FROM our brokerage account using online bill pay. My 401k is kept in Fidelity funds but all others are in Schwab retirement and brokerage accounts. But my Solo 401K does not have that option. I think the best Bogleheads approach currently is to go with VTI and VXUS in Fidelity taxable accounts and FZROX and FZILX in Fidelity tax advantaged accounts (e. The difference between “The Fidelity Account” (TFA) and the “Cash Management Account” (CMA), is a bit elusive, but here’s what I think I know: CMA features NOT offered by TFA 1) FDIC insured, 2) Cash Manager - Overdraft Protection Charles Schwab is great for investing and banking. We have a CMA, a smaller taxable brokerage account, and use Fidelity Signature Visa as the card that gets used for everyday purchases. My brokerage is for trades of individual stocks to try and make some major money and my CMA has safer ETF investments such as FUTY, BRKB (not an ETF technically I know), and DGRO. I like fidelity ability to track my portfolio vs if I hadn't invested or if I just dumped everything into the sp500. vanguard or schwab are Of the 3, Vanguard has the best sweep, but Fidelity isn't far behind with SPAXX. Schwab's checking is a true banking checking account since Schwab operates a bank. Schwab and Fidelity apps are better than Vanguard. 75% at the moment. Get the Reddit app Scan this QR code to download the app now (probably at least 5 years before I will need it). Many features available online, others require a phone call with helpful support. I’m unsure if they’ll allow you to outsource the brokerage component to Schwab, you would need to . I honestly don't understand how anyone likes their user interface. com. g. Schwab has only one plan. r our community is the best way to get help on Reddit Hello there! I have a question that's both part r/Sofi and r/PersonalFinance and the meat of my question deals with what to do with my taxable brokerage and Roth IRA. Brokerage accounts are regulated based on the country that they may wish to offer services. Although we can’t help here with specific account service issues, If you invest through another brokerage, be aware that Fidelity has a good TIPS fund and both Schwab and iShares have good TIPS ETFs. This is You should research Fidelity as a “one stop shop” on bogleheads. Fidelity is good for DCA because you can choose the dollar amount to invest where as with Charles Schwab you can only DCA for companies in the sp500 currently. I preferred Schwab's research tools over Fidelity, but Fidelity does have a mint analog (full view). If you have less than stellar credit and apply for a checking acct with Schwab - they will restrict your brokerage accounts (IRA, everything). 9% apy for uninvested cash FDIC insured I called Charles Schwab and they said they have money market accounts that go around 5% but they move up and down with the market. Here are some of the things I'm looking for / interested in. Fidelity's Cash Management Account offers the same features as a checking account (no Zelle, for what it's worth) but it's classified as a brokerage account, and Fidelity uses partner banks (UMB, among others) to service the banking services. Fidelity’s CMA is a quasi fintech, third party system; - Schwab still offers cashiers checks; - Schwab‘s debit card has zero transaction Fidelity is better for fractional shares of ETFs. So they all opened accounts with Schwab years ago because the checking account offers atm cash with no fees most anywhere in the world (is my understanding). The answer is either. I'd say go ahead and open an individual brokerage account and try Fidelity out for your self. I can only buy in increments of $1,000 face value, but I don't see what the expected price is. our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. I want simplicity. Fidelity for my Second HSA, first HSA is with Health Equity since work won’t let me change it. While you can trade with your Bloom accounts, trades can only be placed on Fidelity. I’ve had a Wells Fargo brokerage account for almost I’ve been recently considering opening a Vanguard account to diversify my funds between various brokers. Schwab and Fidelity both have new account bonus (it's like $100 but why not). I like Schwab but Fidelity beats them in Charles Schwab's service is on par with Fidelity's and a comparison of their fees shows that Charles Schwab's fees are similar to Fidelity's. Don't forget you can't transfer money from Checking to brokerage account after business hours. I do more "active" account management in my Schwab account (Roth and taxable) while my traditional IRA is at Vanguard. Not sure why Fido couldn't get their statements delivered (online) at the same time in a consistent manner for all account types. ETFs also have lower expense ratios. Schwab is a toss up: Schwab debit card wins by 1% internationally, Fidelity has fractional shares for ETFs. The biggest difference is that Charles Schwab is also a bank, so you can have a checking account linked to your brokerage account. The Fidelity Cash Management Account (CMA) is a non-retirement brokerage account designed to meet a customer's everyday spending and cash management needs. I'd give Fidelity the edge right now followed closely by Schwab then Vanguard. Learn more about the Fidelity Bloom Account. What others have said about Fidelity or Schwab are spot on. I already use the prime MM fund for cash in the brokerage account, but there is no such option for the checking account. The credit union is where payments come in, and are dispersed where they're needed. At Fidelity, you can invest as little of as much as you want. I've read a ton of posts, but I am still debating between Schwab and Fidelity. I am using Charles Schwab for my Roth IRA, brokerage and checking account. For Fidelity Cash Management Account owners, Youth Account owners or Fidelity Account® owners coded Premium, Active Trader VIP, Private Client Group, Wealth Management, or former Youth Account owners, your account will automatically be reimbursed for all ATM fees charged by other institutions while using the Fidelity® Debit Card at any ATM displaying the Visa®, Plus® I have different type of accounts at Fido - brokerage, IRA, Roth, HSA, CM; some accounts get monthly statement, some once a quarter, some once in two months. That makes them the cheapest brokerage by far (Fidelity Zero funds in a Fidelity IRA used to be the cheapest). My IRA is at Fidelity so it felt right to keep everything in one place. Is there a resource that can explain how Schwab works in comparison to Fidelity? View community ranking In the Top 5% of largest communities on Reddit. Hi, u/Sweetwater1973, I'm happy to highlight the features of Fidelity's Cash Management Account (CMA). qbfi dipe jjzgc pnavrvw shu otambky aagb ddwlus yjl fckrhe