Vanguard offers 267 of its own mutual funds and 82 ETFs. However, that fee could be worthwhile to some investors who want to keep a small number of high-quality Vanguard funds in their portfolios. You can also trade stocks and ETFs with no commission, in addition to options and fixed-income investments. Depending on how you invest, this fee can add up fast and could be a reason to consider buying those Vanguard funds elsewhere.
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It charges a $20 annual fee below that balance plus a $20 annual fee for each Vanguard fund held in the account. The account doesn’t have an annual fee on its own for accounts with at least $50,000 in Vanguard funds.
If you’re looking to stick with a well-respected list of mutual funds from Vanguard, choose the Vanguard Individual 401(k). It wins in this category thanks to its support for Roth contributions and 401(k) loans. As a large discount brokerage, it can handle most typical investor needs.
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Experienced traders may prefer using the active Power E*TRADE platform, also available for mobile, as an upgrade to the regular web experience. E*TRADE supports options, futures, and fixed-income bonds and CDs as well.Į*TRADE has a strong reputation for supporting active online traders, though you can invest completely hands-off using its managed portfolio product for an added fee. The brokerage also supports over 4,400 mutual funds on its no-load, no-transaction-fee list. Stock and ETF trades are commission free. There are no listed fees to open or keep a solo 401(k) account at E*TRADE. You can also take a 401(k) loan from an individual 401(k) account at E*TRADE. At E*TRADE, you can choose between traditional and Roth individual 401(k) plans, which allows you to choose between pre-tax and post-tax contributions. It is now a subsidiary of Morgan Stanley after an acquisition that closed in October 2020. However, the pending integration of TD Ameritrade will bring the coveted thinkorswim platform under the Schwab umbrella, which is something active traders at Schwab can look forward to.Į*TRADE has a long history of supporting online investors, with its first online trade placed in 1983. Its active investment platform may not satiate all expert investors, and its active charting and analysis tools lag behind some other brokerage platforms for active traders. Schwab’s solo 401(k) account doesn’t offer 401(k) loans. Those with at least $25,000 can use Schwab Intelligent Portfolios with a human investment advisor for an additional fee. This is a fee-free robo-advisor that picks a portfolio of low-cost ETFs for you based on your investment goals and preferences. If you don’t want to make those choices yourself, you can opt in to add Schwab Intelligent Portfolios to your account if you have $5,000 or more to invest. Schwab investors can tap into stock (including fractional shares), ETFs, mutual funds, bonds, options, and futures, among other investments. However, many customers could use this account without paying any fees. While Schwab offers excellent customer service, be aware that automated phone trades cost $5 and broker-assisted trades cost $25 each. It offers commission-free trades for all stocks and ETFs as well as over 4,000 no-transaction-fee funds on the Schwab OneSource funds list. Schwab’s version charges no recurring fees and no setup fees. We still feel the positives far outweigh the negatives in making this our overall best pick.Ĭharles Schwab is our top choice for low fees in a solo 401(k) plan. The only downsides are some inconveniences, like the lack of an option to contribute electronically and tools that lag some competitors for active trading. If you want to level up your investment plan, you can tap into retirement calculators, apps, and education resources to help you improve your retirement savings and investment strategy. This further demonstrates why Fidelity is a good choice for investors looking to keep costs low. In some cases, Fidelity’s own index funds undercut low-cost competitors like Vanguard. Among its mutual fund choices are four broad index funds with no expense ratio and no minimum investment. If you need help placing orders, however, the $32.95 broker-assisted trade fee may be an impediment.įidelity supports stocks (including fractional shares), ETFs, mutual funds, options, bonds, and CDs. That means many small business owners could use this account without ever paying any fees to Fidelity. Customers can invest in stocks, ETFs, and over 3,300 mutual funds with no trading commissions. The Fidelity solo 401(k) account charges no opening or closing costs and no annual maintenance fees. Fidelity self-employed 401(k) accounts are a great choice for fee-conscious investors, earning our top overall pick.
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