The Rob Berger Show RBS 130: Fidelity vs Vanguard vs Schwab: My Take Having Used All 3 for 20+ Years
Apr 19, 2024
The discussion compares three major investing platforms: Fidelity, Vanguard, and Schwab, based on over 20 years of experience. Fidelity excels in usability, offering top-notch website and app features. Cash management setups differ significantly, with Fidelity providing attractive options. Customer service shows Fidelity and Schwab outperforming Vanguard. Fidelity also leads in account types, especially for HSAs. Ultimately, Fidelity comes highly recommended, with Schwab as a close second, while Vanguard lags behind in tech and support.
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Long-Term Multi-Account Experience
- Rob Berger has used Fidelity and Vanguard for about 20–25 years and also has several Schwab accounts.
- He holds personal, business, trust, retirement, HSA, and donor-advised fund accounts across these brokers.
Fidelity Leads On Technology
- Fidelity's website and mobile apps are markedly better and easier to navigate than Schwab's or Vanguard's.
- Rob finds Fidelity especially superior when you manage many different accounts across family members.
Choose Broker For Cash Management
- If you want to combine banking and investing in one place, choose Fidelity or Schwab and avoid Vanguard for cash management.
- Prefer Fidelity for sweep cash because it places idle cash in a money market fund yielding around 5%, unlike Schwab's low-yield FDIC sweep.