PNC vs Schwab, Vanguard, and Fidelity: Key Takeaways
• Brokerage and managed accounts can be opened at Vanguard, PNC Investments, Schwab, and Fidelity.
• Besides securities, a host of other financial products are available at all four companies.
• Commission-free online trading inside brokerage accounts is on tap at all four firms.
PNC vs. Vanguard, Schwab, and Fidelity Introduction
Although PNC is mostly known for its banking services, the financial conglomerate does offer investment services, too. To find out how this program stacks up against the industry’s biggest players, keep reading.
PNC vs Charles Schwab and Others: Fees
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Margin
Rate |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
12.325%
|
$0
|
$0
|
|
Fidelity
|
$0
|
$49.95
|
12.325%
|
$0
|
$0
|
|
Vanguard
|
$0
|
$20
|
12.25%
|
$20*
|
$20*
|
PNC vs Vanguard and Others: Services
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Fidelity: Currently, no promotions.
Visit Fidelity Website
Investing
The four investment firms in this comparison offer both advisory and brokerage accounts. At PNC, securities accounts cannot be opened online, which is a major drawback compared to the other three firms. PNC is also the lone company in this faceoff with an annual account fee. Despite these weaknesses, PNC does have the standard lineup of securities, which is also available at Fidelity, Schwab, and Vanguard. This list includes stocks, bonds, ETFs, options, and mutual funds.
Besides securities, Schwab, Fidelity, and PNC Investments offer a variety of annuities and insurance products. The latter may include policies for life insurance and long-term care insurance. Schwab has futures and forex, while Fidelity offers trading in cryptocurrencies.
Then there are the managed accounts. These come in a variety of flavors, depending on the exact investment theme desired. Fidelity, Schwab, and Vanguard have robo accounts. PNC Investments has elected the traditional approach with human-managed accounts.
Winner: Tie between Fidelity and Schwab
Banking
All four brokerage firms in this survey offer cash-management tools of various kinds. Of course, PNC operates the very famous PNC Bank with deposit accounts, credit cards, auto loans, and so much more. Checking and savings accounts can be linked to investing accounts, and brokerage accounts have an FDIC sweep to PNC Bank.
Schwab also operates its own bank. There is no sweep program, although investing accounts are automatically connected to bank accounts. Schwab customers get unlimited ATM fee refunds around the world.
Fidelity offers unlimited ATM fee refunds in the United States. A host of other perks are available, depending on the exact cash account selected. Examples include cash bonuses, rewards points, and an FDIC sweep.
Vanguard has a simple bank-brokerage hybrid account. It provides access to money market mutual funds and FDIC insurance on idle cash (at 4.6% APY).
Winner: Three-way tie among Schwab, PNC, and Fidelity
Websites
Website trading is available at all four broker-dealers. Although commission-free trades can be had when opting for this method, software differs greatly. For example, the Vanguard site is very simple without any sophisticated tools. Schwab’s site, by comparison, has an advanced web-browser platform called thinkorswim. It delivers a lot of useful tools that both beginners and seasoned pros will enjoy. Examples include technical studies and time & sales data.
Fidelity is somewhere between these two extremes. Its website doesn’t have a browser platform, although advanced features are available on the site itself. These include full-screen charts and integrated option spreads.
Winner: Schwab
Mobile Apps
Up next is mobile software. Not surprisingly, the PNC app has tools for all sorts of cash-management functions. These include bill pay, mobile check deposit, and wire transfer. Fidelity has a cash-management app called Bloom; it works with special cash accounts and can accumulate lots of rewards.
Schwab also has two apps. One of them is a sophisticated trading app. Here, futures and forex can be traded, and there are lots of graphing tools for securities and other assets.
Vanguard’s app is the simplest of the four. There are no option chains of any kind, and equities have no charting tools.
Winner: Schwab
Desktop Platforms
Last, but not last in importance, is desktop trading. Schwab offers thinkorswim in its most advanced form, and Fidelity has Active Trader Pro. Both platforms deliver lots of resources that the most experienced of traders will enjoy. These features include direct-access routing, Level II quotes, and, in the case of thinkorswim only, simulated trading.
Winner: Schwab
Trading on Margin
Brokerage accounts can be enabled for margin trading at all four securities firms in this faceoff. Not
all investment strategies are available, however. Vanguard’s software, for example, does not offer trading in multi-leg option spreads.
Borrowing other traders’ money does come at a cost. Currently, Schwab and Fidelity start their stepped
interest-rate schedules at 12.325%. Vanguard’s tiered
system begins at 12.25%.
Because PNC Investments is a full-service firm, it does not publish its margin rates. These will need
to be obtained through a local PNC financial advisor.
Winner: Because Schwab’s software shows margin details on entered ticker symbols, we give it the victory here
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor
(or read
Wiser Advisor review).
Visit Wiser Advisor
Add-on Services
The four brokerage houses in this contest offer automatic mutual fund purchases. At Vanguard, only Vanguard funds can be enrolled.
At Fidelity, PNC Investments, and Schwab, it’s possible to purchase Initial Public Offerings.
For extended-hours trading, Fidelity, Vanguard, and Schwab have post-market trading. Fidelity and Schwab supply pre-market trading, too. Schwab has overnight trading in a select few ETFs, while Fidelity offers 24/7 trading in cryptocurrencies.
Vanguard, Schwab, and Fidelity offer fractional-share trading of some kind. Schwab and Vanguard restrict their services to certain securities.
A fully-paid stock lending program is available at Fidelity, Schwab, and Vanguard.
Investors at all four securities firms can open Individual Retirement Accounts. Vanguard and PNC have IRA fees in some situations.
Investors at Vanguard, Fidelity, and Schwab can sign up for free Dividend Reinvestment Plans.
Winner: Fidelity
Our Recommendations
For frequent stock trading, we suggest Schwab with its thinkorswim software. Fidelity would also be very good with Active Trader Pro.
For mutual funds, we recommend Fidelity or Schwab.
For long-term investing and retirement planning, brokerage customers should head to Schwab or Fidelity. Advisory customers should pick Schwab, Fidelity, or PNC with a nearby location.
For beginners, a managed account at any of the four is suggested.
For small accounts, Fidelity is the top dog.
Judgment
You can’t go wrong with Fidelity or Charles Schwab.
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Visit Schwab Website
Fidelity: Currently, no promotions.
Visit Fidelity Website
Updated on 4/8/2025.
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.
|