Largest Brokerage Firms by Total Assets Under Management in 2017


Below you could see the total amount of assets under management (AUM) at TD Ameritrade, Etrade, Scottrade, Charles Schwab and Fidelity Investments (U.S. largest online brokerage investment firms).




  1. Charles Schwab
  2. Fidelity Investments
  3. TD Ameritrade
  4. Scottrade
  5. E*TRADE


Broker Rating
And Website
Trading
Commissions
Assets Under Management
And Review


Charles Schwab rating

Charles Schwab


Stocks, ETFs: $4.95

Mutual Funds: $76 to buy
$0 to sell

Options: $4.95 plus
$0.65 per contract

Charles Schwab has close to $2.61 trillion in total managed assets. 1.6 million corporate retirement plan participants. 1.1 million banking accounts. 7,000 RIAs. Total customer assets = $2.73 trillion.

Continue to Charles Schwab Review »



Fidelity Investments rating

Fidelity


Stocks, ETFs: $4.95

Mutual Funds: $49.95 ($75 for some funds)

Options: $4.95 plus
$0.65 per contract

Fidelity Investments has close to $2.1 trillion in total managed assets. Mutual fund assets under management = $1,804.7 billion. Trust/other assets under management = $255.1 billion. Total customer assets at Fidelity = $5,428.0 billion.

Continue to Fidelity Review »



TD Ameritrade rating

TD Ameritrade


Stocks, ETFs: $6.95

Mutual Funds: $49.99

Options: $6.95 plus
$0.75 per contract

TD Ameritrade has close to $774 billion in total managed assets (not including Scottrade assets).

Continue to TD Ameritrade Review »



Scottrade rating

Scottrade


Stocks, ETFs: $6.95

Mutual Funds: $17

Options: $6.95 plus
$0.70 per contract

Scottrade has close to $310 billion in total customer assets.

Continue to Scottrade Review »



Etrade rating

E*trade


Stocks, ETFs: $6.95

Mutual Funds: $19.99

Options: $6.95 plus
$0.75 per contract

Etrade has close to $307 billion in total customer assets.

Continue to Etrade Review »




Charles Schwab


The biggest online brokerage by AUM, Charles Schwab has over 2.6 trillion in total assets under management. It also has a large custodial client base and is growing its proprietary mutual fund business as well. Brokerage commissions are well above average and the account application process is frustrating. Their trading platform is merely average.

On the plus side, Schwab has more than 300 branch offices for customers who like face-to-face service. Free financial guidance is available, and their mutual fund selection is one of the best with more than 14,500 different funds offered to investors.

Continue to Charles Schwab Review.


Fidelity Investments


Fidelity is a strong second largest brokerage firm by total assets under management, a large part of Fidelity's assets are in its proprietary mutual funds. The company is also the clear leader in custodial account management, mainly through client companies that invest their employees' pension and 401k funds with Fidelity.

The company is one of the largest mutual fund companies in the country, offering more than 200 funds with a combined retail Net Asset Value (NAV) of about $2 trillion. Fidelity's brokerage rates about in the middle of the pack mainly due to above-average commission costs and high minimums. Those negatives are offset by excellent customer service and investment research.

Continue to Fidelity Review.


TD Ameritrade


TD Ameritrade is an attractive choice for individual investors. It bought Scottrade and in the result surpassed Charles Schwab in terms of number of customers. However, thanks to its own family of mutual funds Charles Schwab is ahead in terms of total Assets Under Management (AUM). TD Ameritrade is an excellent choice for beginners thanks to easy-to-use website as well as for experienced investors thanks to their outstanding trading platforms — Thinkorswim and Trade Architect.

The brokerage investment research is one of the best. When combined with the company's PaperMoney virtual trading program, this helps first-timers learn the investing ropes before requiring them to invest real money.

Continue to TD Ameritrade Review.


Scottrade


Scottrade's commissions are more attractive than at all brokers mentioned above. In addition they offer no-fee IRAs and no inactivity, account maintenance, or hidden fees. The company also offers a large number of mutual funds—more than 14,500—and supports traders with a range of banking services such as checking and savings accounts, CDs, and more than 500 local branch offices for in-person customer service.

On the downside, electronic withdrawals aren't permitted from broker (but could be initiated from a bank), and the minimum to open a regular brokerage account is high at $2,500.

Continue to Scottrade Review.


E*Trade


Although substantially smaller than the top three brokerages in this list, E*Trade has been around since the beginning of the online trading era, having first offered online trading to individual investors more than 30 years ago. The company's focus is entirely on individual investors.

E*Trade's active-traders platform, E*Trade Pro, is one of the better trading platforms available, and account minimums are $0 if customers sign up for electronic statements and confirmations. Commissions are on the high side, but research options are excellent and investing advice is available by phone or in person.

Continue to E*Trade Review.


Updated on 3/10/2017.




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