For every investor, making a financial decision is not easy. That’s why investors are seeking help online and offline. There are many resources available, for example, online brokers who offer low costs services and online teaching to investors, robo advisors that make algorithm-driven investments for clients.
However, some investors are looking for a more personal touch and someone whom they can completely trust and rely on when making decisions and managing portfolio. If the same is true with you, investment firms will outperform any other option for you. Here’s a selection of the best investment firms. You may have found your best investment partner by the end of the article.
Vanguard Personal Advisor Services
Vanguard Personal Advisor Services (VPAS) by the Vanguard group is a game changer in the industry. Because it manages to combine human advisors with robo-advising featured by automated portofolio management. A personal advisor who works directly with you on goal planning and decision making will help you achieve financial goals based on your needs. As most of advisors working for VPAS are certified financial planners and all are fiduciaries, you won’t worry about the security of your assets.
What’s more, Vanguard is known for using its size to charge low investment fees, and VPAS continues the tradition: a human advisor charges only 0.3% of your assets under management, as opposed to over 1% of other investment firms. But a $50,000 account minimum is required (same with most other wealth management firms).
- Low investment fees
- Automated portfolio management
- Trustworthy advisors
- Online services less guiding than some counterparts
Charles Schwab Asset Management
Charles Schwab boasts more than 9 million clients and the top rate of 5 stars in a recent JD Power’s customer satisfaction survey, proving the high quality of its full-service investment management.
This company caters to investors at almost any level: Beginner investors can enjoy $0 account minimum; active traders will love the $0 commission for options, stock, and exchange-traded funds. It also gets high marks for its high-quality research, a variety of no-transaction-fee mutual funds available with low even zero minimums. Clients with over $25,000 in their account have access to a one-on-one management consultation, online or offline.
- No account minimum
- High-quality research
- No commission
- A wide selection of funds
- Low default cash sweep rate
J.P. Morgan Asset Management
J.P. Morgan Securities by J.P. Morgan Chase has more than 4,400 financial advisors who help investors manage their portfolio and achieve financial goals. The management fees depend on the account size. The highest fee is 1.45% for clients with $50,000 to $250,000 in their accounts. The lowest fee is 0.3% for clients with a minimum of $50MM in their accounts.
- Comprehensive management
- Personal services
- High account minimum
Edward Jones was founded in 1922 as a full-service brokerage firm. This well-established firm provides trustworthy investment guidance and portfolio management services. The company has over 13,000 physical offices throughout the United States, outnumbering all its competitors. And it boasts a team of financial advisors from all walks of life who received professional training. Through their deep understanding of American households’ goals and concerns, they’ve won more than 7 million clients in the country.
However, compared with other firms, Edward Jones has higher fees. Though it charges 1.35% management fees for accounts up to $250,000, mutual fund fees could drive fees up to 2%.
- Personal services
- A team of trustworthy advisors
- A large number of offices
- High management fees
Account minimum starts with $50,000, you will enjoy a strategy designed by Fidelity to help you achieve financial goals like investment for retirement etc. With over $200,000 in your account you’ll be have access to tax sensitive investment or separately managed portfolio which invest in specific equities.
What’s more, Fidelity Investments provides zero trading commissions, high-quality offering and a user-friendly platform which is customizable for advanced traders.
- No commissions
- User-friendly platform
- A wide selection of research providers
- High-quality customer service
- High broker-assisted trade fees
Now you may notice that investment firms may charge you higher fees but give you more personal guidance to help you learn the ropes and realize your goals. Just like the famous quote of Warren Buffett, “Price is what you pay, value is what you get.”