Charles Schwab Review - Make Lemonade

Charles Schwab Review

Company Overview: Charles Schwab

Based in San Francisco, Charles Schwab is a contemporary, full-service online stock broker that offers investments and financial planning – powered by technology. Charles Schwab’s robo-advisor is called the Schwab Intelligent Portfolio, and it has no management fee. Schwab has more than 345 branches, approximately 1,200 financial consultants and almost $270 billion enrolled in advisory solutions. Schwab also has worked on more than 100,000 financial plans. Charles Schwab is a great choice for beginners and active traders alike.

Charles Schwab Overview

Charles Schwab offers attractive rates and terms compared with other top online robo-advisors:

Account Minimum: $5,000

Commission: 0%

Portfolio Mix: Portfolio of low-cost, diversified ETFs across 20 asset classes

Account Types: Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs, custodian accounts and trusts

Portfolio Rebalancing: Yes

Tax Loss Harvesting: Yes (for accounts with at least a $50,000 balance)

Account Fees: $0

How Charles Schwab Compares: Key Benefits Of Charles Schwab

Here are some of the reasons that investors love Charles Schwab:

  • No Fee: Schwab Intelligent Portfolio robo-advisor has no management fee and therefore is free.
  • Automated:Charles Schwab is a robo-advisor and therefore does all the investment work for you. You don’t have to manage your investments. Charles Schwab does all the heavy lifting using technology.
  • Portfolio:Charles Schwab a portfolio of ETFs across 20 asset classes that are low cost and diversified.
  • Customer Support:Charles Schwab offers customer support 24/7.

Bottom Line: Is Charles Schwab right for you?

Charles Schwab has a top reputation as atop online stock broker and robo-advisor. The best feature of Charles Schwab’s platform is its no management fees, automatic rebalancing and tax loss harvesting. There are also no commission on trading or transfers, which can save money relative to traditional online robo-advisors if you are an active trader.

You do need a minimum balance of $5,000 to open an account, which is higher than some robo-advisors, but lower than others. The Charles Schwab Personal Advisor Services platform builds portfolios with low cost, diversified ETFs across 20 asset classes. Schwab offers conservative, moderate and aggressive portfolios based on your investment goals and investment style. Based on your answers to several investment questions, Schwab will help your customize an investment portfolio. You can even use Schwab’s Goal Tracker to set and track goals for yourself.

Next Steps: How To Apply To Charles Schwab

You can open a Charles Schwab account online within a few minutes, and the process is simple.


The Best Robo-Advisors 2018

Robo-Advisor
Annual Fee

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 16 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: M-F 8 a.m. – 8 p.m. EST; email 24/7

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 12 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Customer support: 7 days a week
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$500

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 11 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Unlimited access to licensed financial advisors

Overview

Account Minimum:$0

Details

  • Supports personal brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 9 asset classes
  • Free automatic portfolio rebalancing
  • Customer service: M-F 11 a.m. – 7 p.m. eastern

Overview

Account Minimum:$5,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 20 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting for accounts with a minimum $50,000 balance
  • Free access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$50,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolios are individualized and incorporate Vanguard index funds and ETFs, if needed
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting on client-by-client basis
  • Access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$100,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Access to financial advisors

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