5 Fidelity alternatives & competitors: what are my options?
Explore alternatives to Fidelity with top competitors like Charles Schwab, Vanguard, Robinhood, LPL Financial, Fisher Investments, each offering unique investment and wealth management services.
Who is Fidelity?
Fidelity is one of the world’s leading financial services companies. Founded in 1946 and based in Boston, Massachusetts, Fidelity offers services across nine countries. As of May 2025, it manages approximately $14.1 trillion in assets under management (AUM).
Fidelity at a glance:
Assets under management:
$14.1 trillion
Fee structure:
Fee-only & fee-based
Fee:
0.2%-1.5%
Minimum account sizes:
$50,000
Fidelity operates a mixed fee model, offering fee-only and fee-based services, with advisory fees generally ranging from about 0.2% to 1.5%.
Its minimum account requirements begin around $50,000 for advisory services.
Fidelity is well known for its expertise in mutual funds, brokerage services, retirement planning, banking, ETFs, and advanced research tools.
If you're evaluating financial advisors and seeking alternatives to Fidelity, it’s useful to weigh firms that match your investment goals, cost preferences, and style of service.
Let's take a deeper look at just five of its competitors:
| Company | Founded | Headquarters (HQ) | Assets under management (AUM) |
|---|---|---|---|
| Company | Founded | Headquarters (HQ) | Assets under management (AUM) |
| Fidelity | 1946 | Boston, MA | $14.1 trillion |
| Charles Schwab | 1971 | Westlake, TX | $7.13 trillion |
| Vanguard | 1975 | Malvern, PA | $7.7 trillion |
| Robinhood | 2013 | Menlo Park, CA | $221 billion |
| LPL Financial | 1989 | San Diego, CA | $1 trillion |
| Fisher Investments | 1979 | Plano, TX | $236 billion |
5 alternatives to Fidelity
There are several Fidelity alternatives, some offer similar all-in-one investment platforms, while others focus on specific services like low-cost trading or personalized financial advice.
To help you navigate your options, here are five top competitors and alternatives to Fidelity:
Charles Schwab
Vanguard
Robinhood
LPL Financial
Fisher Investments
1. Charles Schwab
Assets under management:
$7.13 trillion
Fee:
0.80% and decreases at higher asset levels
Fee structure:
Fee-based
Minimum account sizes:
$500,000
Founded in 1971 and headquartered in Westlake, Texas, Charles Schwab is one of the largest and most respected financial services firms in the US.
With over $7.13 trillion in assets under management, the firm offers a comprehensive suite of investment, banking, and advisory services to individual investors and institutions alike.
Charles Schwab stands out for its client-first approach, with transparent pricing, robust research tools, and both self-directed and managed investment options.
Its widespread branch network and 24/7 support make it a strong alternative to Fidelity for those seeking full-service financial support with flexibility.
2. Vanguard
Assets under management:
$7.7 trillion
Fee:
0.05%-0.3%
Fee structure:
Fee-based
Minimum account sizes:
$50,000
Established in 1975 and headquartered in Malvern, Pennsylvania, Vanguard is best known for pioneering low-cost index investing.
The firm manages approximately $7.7 trillion in assets and serves millions of investors worldwide, including individuals, institutions, and retirement plans.
Vanguard specializes in passive investment strategies, offering a wide range of mutual funds and ETFs with some of the lowest fees in the industry.
If you're seeking a Fidelity alternative focused on long-term growth and minimal costs, Vanguard is a standout choice for disciplined, value-driven investors.
3. Robinhood
Assets under management:
$221 billion
Fee:
0.25% annually (capped at $250/year for Gold members)
Fee structure:
Fee-free trading; fee-based robo-advisor
Minimum account sizes:
$50 minimum to open and maintain
$50–$500: ETF portfolio
$500+: ETFs + individual stocks
Launched in 2013 and based in Menlo Park, California, Robinhood revolutionized retail investing by eliminating trading commissions and lowering the barrier to entry for new investors.
As of 2025, it holds around $221 billion in assets under custody and serves over 20 million users.
Robinhood appeals to younger and tech-savvy investors with its streamlined mobile app, fractional shares, and commission-free trades.
For those looking for a simple, low-cost alternative to Fidelity without the complexity of traditional brokerage models, Robinhood offers ease, speed, and accessibility.
4. LPL Financial
Assets under management:
1 trillion USD
Fee:
0.53%–1.35% annually (varies by account size)
Fee structure:
Fee-based (advisor fee + program fee)
Minimum account sizes:
Optimum Market Portfolios: $1,000
Personal Wealth Portfolios: $250,000
No minimum for general planning services
Founded in 1989 through the merger of Linsco and Private Ledger, LPL Financial is one of the largest independent broker-dealers in the US.
Headquartered in San Diego, LPL supports over 29,000 financial professionals and manages roughly $1 trillion in assets.
Unlike many firms, LPL does not sell proprietary products, allowing its advisors to offer personalized, unbiased advice.
For investors who prefer working with independent advisors and value a hands-on, relationship-driven approach, LPL is a compelling alternative to Fidelity.
5. Fisher Investments
Assets under management:
$236 billion
Fee:
1.0%-1.50%
Fee structure:
Fee-only
Minimum account sizes:
$500,000
Founded in 1979 by Ken Fisher, Fisher Investments is a fee-only advisory firm based in Plano, Texas.
With approximately $236 billion in assets under management, the firm focuses on actively managed portfolios tailored to high-net-worth individuals.
Fisher Investments distinguishes itself through personalized portfolio strategies, direct advisor relationships, and proprietary market research.
For those seeking a more customized, research-driven alternative to Fidelity with a higher minimum investment, Fisher offers a focused and actively managed approach.
"Experience matters, so check the firm’s track record in handling clients with similar needs.
Transparency is also key, so ensure they clearly explain their fees and services. Choose a firm or individual who aligns with your financial goals and communicates effectively, as a strong client-advisor relationship is essential for long-term success.
Lastly, a good financial advisor relationship is ideally a long-term one, so try to find one you'll be comfortable working with through the most important periods of your life."
Which is the best financial advisory firm for me?
The best financial advisor firm ultimately depends on what your needs are as a client.
Any of the above alternatives to Fisher Investments will likely meet your needs, but some will be more compatible with you than others. You can use the factors listed below to determine which you should choose.
Budget: Naturally, each firm has its own pricing systems to consider. The bigger your budget, the more services and expert guidance you can afford.
Communication style: People typically work with their chosen financial advisor over a number of years throughout all of life’s big events. Therefore, it’s key that you choose someone you get along with and with whom you can easily communicate.
Service requirement: Some firms specialize in certain services, so it's best to pick one with a high level of experience in your field of interest.
Advice delivery: Financial advisor firms have different communication and customer management styles. Pick one that delivers advice in a way you find comfortable and easy to understand.
Experience level: If you need high-level advice and input, you’ll want to opt for a firm with more experience in its field. Smaller, less seasoned companies can easily handle lower-stakes financial management like savings and retirement.
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