I'm considering various brokerage choices. I'm not interested in being a day trader but would like to be more self directed in my investing.

Curious to hear opinions on which self directed brokerage accounts e.g., Merrill Edge, Fidelity, Schwab, TD, etc. you prefer regardless of whether you use them as brokerage accounts for investing or connected with your IRA's and why you like them or, no longer do.

Thanks!

I use Fidelity and probably because I've been with them for many years.

Their online account features are good for me and it functions well, never an issue.

Despite what I've heard from some others, I've never had bad relations over the phone with them and everyone I've talked to have been helpful.

I don't trade a lot so their commission prices didn't concern me too much, but now they're zero like most other discount brokerages.

I use Merrill Edge because of my job, but I've been pretty happy with them. If you carry decent balances in your Merrill accounts you can really juice your B of A credit card rewards. Most of the options you listed are relatively the same, give or take a couple features. I used to use Schwab, was very satisfied.


TS

I've been with Schwab for decades, with IRA/401K as well as individual and custodial accounts, and am very happy with them. Low costs, good infrastructure, very nice web and online features.

I do my own investing and they have good support for that, with online filtering and a very nice trading program/app, Streetsmart Edge. Several good choices for research on individual stocks and their industries.

Zero commissions is a nice touch too, making dollar-cost-averaging less expensive.

I have had good results with Fidelity as well, when I've used them (529 plan) and would recommend you include them in your short list as well as Schwab.

I've been with TD Ameritrade for about 10 years. I've traded both equities and options. Never had any issues. Currently I'm about 90% in cash as I have concerns about the near future - Not the election, just the economy in general.

I use Motley Fool for advice on investment strategies. They have been exceptional over the pasty 10 years.

Another Fidelity client here.
Been with them since the 80’s and now in their Private Client Group they are very responsive and would have no hesitation recommending them.

A friend who writes banking articles for a major newspaper endorsed Fidelity ("FIDO") some time back. Decent interface.

https://eresearch.fidelity.com...ectors/landing.jhtml

quote:

Originally posted by joel9507:
I've been with Schwab for decades, with IRA/401K as well as individual and custodial accounts, and am very happy with them. Low costs, good infrastructure, very nice web and online features.

I do my own investing and they have good support for that, with online filtering and a very nice trading program/app, Streetsmart Edge. Several good choices for research on individual stocks and their industries.

Zero commissions is a nice touch too, making dollar-cost-averaging less expensive.

Agree with all the positives for Schwab. Very well laid out web site with lots of good research tools.

I have a rollover account with TD Ameritrade. They have a dashboard that makes it easy to track, research and trade. There is also a good mobile app that helps me keep an eye on things. I am happy with it.

Currently have a Schwab account due to a rollover from USAA (they sold). So far, I like it. Also have an E*Trade account. Of the two, at this early stage, I’m considering combining and going to Schawb. Overall, I think it’s more “accessible” as it’s been five months since I’ve contacted an E*Trade associate and I think I’m still on hold.

Schwab user here. Pretty good platform, I’ve had no complaints. Had used USAA but migrated before they sold. Lots of research tools on Schwab. I’ve never contacted them, though. Never had a reason to.

quote:

use Motley Fool for advice on investment strategies. They have been exceptional over the pasty 10 years.

Likewise. I've followed a lot of their advice and have done very well.

I've been with Vanguard for 20+ years. Excellent selection of low cost mutual funds and ETFs plus their brokerage fees are low if I want to buy stocks or non-Vanguard ETFs.

Fees are something to keep an eye on.

On mutual funds and ETFs, it makes a big difference if two funds get 7.49% return and 7.46% return but their operating costs are 1.4% and 0.14% (same order).

If you're trading stocks or 3rd party ETFs, then the transaction fee will make a difference and many firms' fees are tiered based on how much money you have invested with them (i.e. your situation is likely different than many of the posters in this thread).

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Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.

I have had a Schwab account for a very long time and have no urge to change it. My wife has a Fidelity 401k rollover which is nearly useless. Their research function is poor, their trading platforms are not as good as Schwab in any respect. I'm confidant that their customer service people wear funny noses and glasses because it is a complete clown show.

She is still with them because we gave it a year to see how we liked it. Times up. We'll (oops) She will be out right after the new year. We are just biding our time for statement purposes.
I had a Merrill account for a while and it went well, never an issues that wasn't self inflicted. I consolidated to Schwab but it wasn't on service, just longevity of my other account.

quote:

Originally posted by joel9507:
I've been with Schwab for decades,

Like Joel, I've been with Schwab for decades also. They're big and I've had excellent customer service. Also, they deal seamlessly with international customers. Other US brokerages have a fit if you move overseas.

Honestly though, brokerage houses are pretty commoditized. Pick a big name and you won't go wrong. Just about everyone offers zero commission trades, online banking, etc.

I've been with TDA since it was TDW in the mid 90s and $39 telephone trades changed the brokerage business. I have private client status and appreciate the enhanced level of customer service. Free trades are nice and a nearby local office comes in handy.

quote:

Originally posted by tatortodd:
I've been with Vanguard for 20+ years. Excellent selection of low cost mutual funds and ETFs plus their brokerage fees are low if I want to buy stocks or non-Vanguard ETFs.

Fees are something to keep an eye on.

On mutual funds and ETFs, it makes a big difference if two funds get 7.49% return and 7.46% return but their operating costs are 1.4% and 0.14% (same order).

If you're trading stocks or 3rd party ETFs, then the transaction fee will make a difference and many firms' fees are tiered based on how much money you have invested with them (i.e. your situation is likely different than many of the posters in this thread).

Another vote for Vanguard. I can't say enough good things about them

quote:

Originally posted by radioman:

quote:

Originally posted by tatortodd:
I've been with Vanguard for 20+ years. Excellent selection of low cost mutual funds and ETFs plus their brokerage fees are low if I want to buy stocks or non-Vanguard ETFs.

Fees are something to keep an eye on.

On mutual funds and ETFs, it makes a big difference if two funds get 7.49% return and 7.46% return but their operating costs are 1.4% and 0.14% (same order).

If you're trading stocks or 3rd party ETFs, then the transaction fee will make a difference and many firms' fees are tiered based on how much money you have invested with them (i.e. your situation is likely different than many of the posters in this thread).

Another vote for Vanguard. I can't say enough good things about them

Coincidentally, I was at my bank this afternoon getting a fee reversed and she inquired who I invested with. I told her Vanguard and she asked why. I could've given a laundry list of reasons why, but it all boiled down to "in over 20 years they haven't pissed me off once and I can count on one hand how many businesses I can say that about." I have to hand it to her, she was smart enough not to ask if her bank was on that one hand too.

I use both Schwab and Fidelity, and that will continue so all my nest eggs are not in one basket.

I have been with Schwab longer, and I prefer them for research. They also send me an e mail immediately when a limit order trade goes off. I find that Schwab ETFs usually have the lowest management fees.

I like Fidelity for the position summary that show both the percentage and dollar changes in stock prices. Fidelity also has a credit card that gives me 2% cash back on everything. I can lock the accounts against withdrawals.

The differences in research opinions on the same stocks between the two companies is amazing.

Both companies have fantastic customer service. Or at least they did before Covid….

Great feedback everyone, thanks for the help!