Fidelity vs Northwestern Mutual

Vanguard vs Northwestern Mutual, TD Ameritrade, and Charles Schwab (2022)



Northwestern Mutual vs Vanguard & Co: Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Margin
Rate
Maintenance
Fee
Annual IRA
Fee
Ally Invest $0 $9.95 8% $0 $0
TD Ameritrade $0 $49.99 ($0 to sell) 10.25% $0 $0
Fidelity $0 $49.95 9.075% $0 $0
Charles Schwab $0 $49.95 9.075% $0 $0
Etrade $0 $19.95 9.7% $0 $0
Vanguard $0 $20 8.75% $20* $20*


Northwestern Mutual vs Charles Schwab & Co: Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Ally Invest
TD Ameritrade
Fidelity
Charles Schwab
Etrade
Vanguard
NWM


Northwestern Mutual vs TD Ameritrade & Co. Overview


Northwestern Mutual Investment Services (NMIS) and its sister Northwestern Mutual Wealth Management Company are subsidiaries of the original Northwestern Mutual. Their parent was started in 1857 as a life insurance company, and is now the largest direct provider of individual life insurance in the United States. NMIS has more than 350 offices across the United States and over $64 billion assets under management.

Most investors have probably heard of Fidelity, E*Trade, TD Ameritrade and Ally Invest. These are some of the most heavily-advertised firms in the industry. Let's take a detailed look at these brokers and see how they stack up against each other.


Commissions and Account Minimums


Unlike online brokerage houses with flat rates per transaction, NMIS uses a sliding commission scale based on the size of each trade: from $40 for trades with $1,000 or lower, to $50 plus 0.75% for trades with $100,001 and higher amount.

Trading stocks and ETFs at E*Trade, Fidelity, Ally Invest and TD Ameritrade costs $0. For options, E*Trade, and Fidelity clients pay $0.65 per contract. Ally Invest charges $0.50 for the same security.

Placing a trade with a human broker at TD Ameritrade and E*Trade is $25, while doing the same at Fidelity is $32.95. Ally Invest charges $20.

Brokerage accounts at all four firms have no maintenance fees or inactivity fees. Fidelity requires a minimum initial deposit of $0, while E*Trade is at $500, and TD Ameritrade and Ally Invest have no minimum. IRAs are available at all firms without any account fees.

Ally Invest takes this category.


Mutual Funds and ETFs


TD Ameritrade clients can trade more than 13,000 mutual funds. Of these, nearly 4,200 have no load and no transaction fee. Transaction fee mutual funds are $49.99 at the broker.

Fidelity provides over 10,000 mutual funds, of which 3,500 come with no load and no transaction fee. Funds with a transaction fee cost $49.95 to buy.

E*Trade offers over 10,000 mutual funds. Approximately 4,200 are available without load and transaction fee. Traders pay $19.99 for transaction-fee funds.

Ally Invest has over 12,000 mutual funds and the lowest commission — $9.95 per trade. Even though the broker does not offer NTF funds, the funds you actually want to own will likely not be on that list anyway.

ETF investors won't be disappointed with any of the four brokers — they are all commission-free.

Ally Invest is victorious in this category.


Northwestern Mutual vs ameritrade


Research and Education


At Fidelity, investors have access to free third-party equity reports. The broker maintains a web-based learning center where clients can access material on a wide range of topics.

E*Trade also gives its clients helpful educational resources on its site. Investors have access to free stock reports from multiple analysts. The broker has several screeners for all securities.

TD Ameritrade customers receive free equity reports from several independent analysts. The broker also provides useful educational videos on its site.

Ally Invest has fewer educational resources than the other three brokers. Security profiles on the Ally Invest site lag behind the broker’s rivals in the amount of information available.

This category is a three-way tie for Fidelity, E*Trade, and TD Ameritrade.


Customer Service


At Fidelity, customer service representatives are available 24/7. The broker also has over 180 brick-and-mortar locations throughout the United States for investors who want more personal service.

E*Trade has 30 branch locations. The firm offers telephone support 24 hours a day, 7 days a week.

TD Ameritrade has customer service reps on the phone around the clock. The firm has a nationwide network of branches. Currently, there are more than 450 locations.

An Ally Invest representative can be reached 7am-10pm ET, 7 days a week. Besides phone service, the broker also provides a chat function on its website. There are no local branches.

TD Ameritrade wins the category.


Trading Tools


E*Trade's web site is easy to navigate. The broker provides advanced trading platforms, in both browser and desktop environments.

Fidelity offers a handy trade ticket on its easy-to-use website. The broker also offers a sophisticated trading system for active traders. Fidelity recently launched an app for Apple TV.

TD Ameritrade has two platforms. First, is the regular, easy-to-use web browser. Second, there is thinkorswim, a sophisticated desktop system. There are no active trader requirements for any platform. The broker also provides paper trading on thinkorswim.

Investors who want to use a trading platform have access to Ally Invest LIVE, a browser-based program that is fairly simple. Charting comes with technical studies, comparisons, and multiple graph styles. There is no desktop platform here. The broker does provide a trade bar, and orders can be placed on it.

TD Ameritrade wins this category.


Ally Invest Live


Mobile Platforms


Fidelity has apps for Android, Apple, and Windows Phone 8. Features such as mobile check deposit are available. Live steaming of Bloomberg business news is free of charge.

E*Trade has platforms for Android phone and tablet, Windows phone, iPad, iPhone, Amazon Fire phone, and Kindle Fire HD. Users will find charts, videos, and mobile check deposit.

TD Ameritrade has three separate apps. They can be used on Apple and Android. The standard app can be used on Windows 10. Live streaming of CNBC is available at no cost.

There is one Ally mobile app, and it can be used for both banking and investment purposes. The brokerage side has watchlists, positions, market news, and option chains. Charts are also available, and the software has some technical indicators.

TD Ameritrade wins again.


Fidelity Mobile App


Banking Features


E*Trade offers a checking account with a debit card and checks at no cost. The broker reimburses ATM fees for accounts over $5,000.

TD Ameritrade provides a checking account with checks and a debit card free of charge. There are no account fees, and ATM charges are reimbursed. The account is insured up to $500,000.

Fidelity has the Cash Management Account. It comes with checks and a debit card at no cost. The broker reimburses all ATM fees, and the account is insured up to $1,250,000.

Ally Bank checking, savings, or money market accounts are easily linked to an Ally Invest account. Transfers between bank and brokerage accounts are instantaneous. The firm offers one of the best rates on savings account today: 0.6%.

Fidelity wins here.


Promotions

Ally Invest: Up to $3,000 cash bonus + $0 commission trades.

TD Ameritrade: $0 commissions + transfer fee reimbursement.

Etrade: Get zero commission on stock and ETF trades.



Recommendations

Top-notch trading software, free Level II quotes, and free virtual trading, earns TD Ameritrade a recommendation for active traders as well as for forex, futures, and penny stock trading. The broker is also excellent for anyone new to investing, for individual retirement accounts, and for do-it-yourself investors.

Ally Invest is our recommendation to customers new to investing or for IRA accounts.

Fidelity Investments is suggested for customers wanting to invest mostly in Fidelity's own family of mutual funds and ETFs.

Etrade is our recommendation for IRA accounts (Traditional, ROTH, SEP).


New Account Promotions

Ally Invest: Up to $3,000 cash bonus + $0 commission trades.

Open Ally Invest Account

TD Ameritrade: $0 commissions + transfer fee reimbursement.

Open TD Ameritrade Account

Etrade: Get zero commission on stock and ETF trades.

Open Etrade Account


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.