How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- Fidelity and Charles Schwab offer the broadest self-directed retirement accounts, with no account minimum to open and commission-free stock and ETF trades.
- Vanguard remains a strong pick for buy-and-hold investors who want low-cost index funds, though many of its mutual funds still carry minimums that its ETFs avoid.
- Betterment and Wealthfront suit savers who want a managed portfolio, with automated rebalancing and planning tools, rather than picking funds themselves.
- T. Rowe Price appeals to investors who prefer actively managed funds and target-date funds, while Edward Jones and Merrill suit savers who want human advice.
- Fund expenses, advice fees, and account fees matter more than any single promotion, because they repeat every year your money stays invested.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 Fidelity Investments | Broad self-directed retirement accounts | See website | No |
 Vanguard | Low-cost buy-and-hold index investing | See website | No |
 Charles Schwab | Self-directed accounts with strong service | See website | No |
 T. Rowe Price | Actively managed and target-date funds | See website | No |
 Betterment | Hands-off managed retirement portfolios | See website | No |
 Wealthfront | Managed retirement portfolios with planning tools | See website | No |
 Edward Jones | Local, in-person advisor relationships | See website | No |
 Merrill | Bank-linked investing with advisor access | See website | No |
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We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
The best retirement investment companies
#1Fidelity Investments
Best for: Broad self-directed retirement accounts3.9/5 on
G2 (7 reviews, checked Oct 2026)
Visit fidelity.com
Starting priceSee website
Free planNo
Fidelity is the most complete all-rounder for a self-directed retirement saver. You can open a traditional IRA, Roth IRA, SEP IRA, or rollover IRA with no account minimum, trade stocks and ETFs without commission, and choose from Fidelity funds, third-party funds, bonds, and CDs. Its zero-expense-ratio index funds and low-cost target-date index funds give a beginner a simple, low-cost starting point.
The breadth is also the drawback. A new saver can feel lost among thousands of funds, planning tools, and advice tiers, so it helps to start with one broad index fund or one target-date fund and add complexity only when you have a reason. Advice is available, but managed services such as Fidelity Go carry their own fee, so check whether you want self-direction or a managed portfolio before you sign up for either path.
What we like- No account minimum to open
- Commission-free stock and ETF trades
- Zero-expense-ratio index funds available
Watch out for- The range of funds and tools can feel large for a first-time saver
- Advice services carry separate fees
Starting priceSee website
Free planNo
Vanguard built its name on low-cost index investing, and that focus still shows in its retirement accounts. Its target-date funds and broad index ETFs give a saver a diversified portfolio with low ongoing fund expenses, and its long-term, buy-and-hold philosophy suits people who plan to contribute steadily and check their balance rarely. A rollover IRA or a Roth IRA at Vanguard can hold Vanguard funds and other publicly traded ETFs.
The practical catch is minimums. Many Vanguard mutual funds still require a minimum investment, often 1000 dollars for target-date funds and 3000 dollars for other funds, while Vanguard ETFs have no fund minimum beyond the share price. If you are starting small, ETFs or a target-date fund are the easier route. Vanguard also charges a small annual account fee in some cases, often waived with electronic delivery, so confirm the current terms for your account type.
What we like- Long record of low-cost index funds
- Target-date funds with low average expenses
- Investor-owned structure
Watch out for- Many mutual funds require 1000 to 3000 dollars minimum
- Website and app feel dated next to rivals
#3Charles Schwab
Best for: Self-directed accounts with strong service1.5/5 on
Trustpilot (786 reviews, checked Oct 2026)
Visit schwab.com
Starting priceSee website
Free planNo
Schwab is a close rival to Fidelity for a self-directed retirement account, with no minimum to open an IRA, commission-free stock and ETF trades, and low-cost Schwab index funds. Its research, education, and phone support are useful when you face a real decision, such as rolling over an old 401(k) or choosing between a traditional and a Roth IRA. Rollover consultants can walk you through the steps by phone at no extra charge for the guidance itself.
Schwab also offers managed options, including Schwab Intelligent Portfolios, but those carry their own minimums and cash allocation rules, so they are a different product from a plain self-directed IRA. For a saver who wants to pick funds and manage the account, the plain IRA is the simpler, cheaper route. For a saver who wants help, compare the managed option against Betterment and Wealthfront before you commit.
What we like- No account minimum to open
- Commission-free stock and ETF trades
- Strong phone support and research tools
Watch out for- Managed portfolio options have their own minimums and limits
- Some tools suit active traders more than simple savers
Starting priceSee website
Free planNo
T. Rowe Price suits savers who trust active management and want a fund company, not just a brokerage. Its Retirement Funds are actively managed target-date funds that adjust their mix over time, and its broader fund lineup covers US and international stocks, bonds, and balanced portfolios. A saver who wants one fund that handles allocation can pick a target-date fund near their expected retirement year and leave the shifting mix to the fund manager.
The cost is the honest trade-off. Active funds charge more than index funds, and over decades that difference adds up, so compare the expense ratio against an index target-date fund before you choose. Minimums also matter: many T. Rowe Price funds require 2500 dollars, with 1000 dollars for IRAs in some cases. If you start below that level, an IRA at Fidelity or Schwab with no fund minimum may be easier, and you can still hold T. Rowe Price funds later if you wish.
What we like- Strong actively managed fund lineup
- Target-date funds with a long glide path
- Retirement planning tools
Watch out for- Active fund expenses run higher than index funds
- Some funds carry minimums, often 2500 dollars, or 1000 dollars for IRAs
Starting priceSee website
Free planNo
Betterment is a robo-advisor, which means it builds and manages a diversified ETF portfolio for you based on your goals and risk level. You answer questions about retirement timing and risk tolerance, fund the IRA, and Betterment handles rebalancing and, where eligible, tax-loss harvesting. That hands-off design suits savers who know they should invest for retirement but do not want to pick funds or rebalance themselves.
Pricing needs a close read. Betterment Digital charges a percentage fee for larger balances, and a flat monthly fee for smaller balances unless you meet a recurring deposit or balance condition, so a very small account pays a higher effective rate. Human advisor access sits on a higher tier with a higher fee. If you want a managed IRA and you will contribute regularly, Betterment is a clean, simple option. If you want to manage funds yourself for the lowest cost, a self-directed IRA will be cheaper.
What we like- Automated rebalancing and tax-loss harvesting
- Traditional, Roth, SEP, and rollover IRAs
- Human advice available on higher tiers
Watch out for- Advisory fee applies on top of fund expenses
- Small balances can face a flat monthly fee rather than a percentage fee
Starting priceSee website
Free planNo
Wealthfront is a robo-advisor that builds and manages a diversified ETF portfolio for your IRA based on your goals, time horizon, and risk tolerance. You can open a traditional, Roth, SEP, or rollover IRA, set a retirement goal, and let Wealthfront handle rebalancing and, where eligible, tax-loss harvesting. Its planning tools help you see whether your current savings path lines up with the retirement date you have in mind.
The trade-off is control and cost. Wealthfront charges an advisory fee for managed accounts, and it is not a full self-directed brokerage for stock picking, so savers who want to choose individual stocks will prefer Fidelity or Schwab. For a saver who wants a managed IRA with a clear goal view and no fund-picking work, Wealthfront is a clean alternative to Betterment, and the two are worth comparing on fee, minimum, and tax features before you choose.
What we like- Automated managed portfolios with rebalancing
- Traditional, Roth, SEP, and rollover IRAs
- Planning tools for retirement goals
Watch out for- Managed advice carries an annual fee on top of fund expenses
- Self-directed trading is limited compared with a full brokerage
Starting priceSee website
Free planNo
Edward Jones is built around a local advisor relationship. Clients typically meet a financial advisor in person, set goals, and review progress at least once a year. That human contact suits savers who want someone to explain choices, keep them on track during market drops, and coordinate retirement, education, and estate goals in one plan. The firm offers both brokerage IRAs and managed advisory programs with different fee structures.
The cost is higher than a discount broker, and that is the central decision. A brokerage IRA can carry an annual account fee, waived for larger household balances in some cases, and advisory programs carry program fees plus platform fees, with minimums that start in the thousands. If personal guidance keeps you investing steadily, that cost may be worth it. If you are comfortable managing an IRA yourself, a discount broker will leave more of your money invested.
What we like- Local advisor in many communities
- Goal-based planning and regular reviews
- Guided and advisory account options
Watch out for- Brokerage IRAs can carry an annual fee
- Advisory programs carry percentage fees and minimums
- Fund and trade costs can exceed discount brokers
#8
Merrill
Best for: Bank-linked investing with advisor access
Visit ml.com
Starting priceSee website
Free planNo
Merrill, part of Bank of America, suits savers who already bank with Bank of America and want investing and banking in one relationship. You can open a self-directed Merrill Edge account for an IRA, use guided investing for a managed portfolio, or work with a Merrill advisor for fuller planning. Preferred Rewards tiers can add banking benefits based on combined balances, which is a real perk for households that keep substantial balances across both firms.
The guided option carries an advisory fee on top of fund expenses, so compare it with Betterment and Wealthfront if managed help is your goal. Self-directed trading is commission-free for stocks and ETFs, which keeps the plain IRA competitive. Merrill is strongest for a saver who values the bank link and advisor access, and less compelling if you bank elsewhere and only want the cheapest self-directed IRA.
What we like- Links with Bank of America banking
- Self-directed and guided options
- Advisor access for larger relationships
Watch out for- Guided investing carries an advisory fee
- Some benefits depend on combined Bank of America and Merrill balances
How we chose
We compared pricing pages, fee schedules, account types, and public reviews on G2, Capterra, and Reddit, and we checked each firm for IRA types, rollover support, fund minimums, advice options, and fit for different savers. We kept a mix of discount brokers, a fund company, robo-advisors, and advisor-led firms, because retirement savers differ in how much help they want. We did not claim hands-on testing, and we treated each firm's published fee schedule as the source for costs, with review sites used only to spot common service complaints. Fees change, so confirm the current schedule before you open an account.
Picking the right structure first
Start with the account, not the firm. A Roth IRA suits savers who expect to pay tax now and withdraw tax-free in retirement under the rules, while a traditional IRA may suit savers who want a possible tax deduction now. A rollover IRA is the usual home for an old 401(k), and it keeps the money tax-deferred while you choose new investments. Contribution limits, income limits, and withdrawal rules apply, and they change from year to year, so check the current IRS limits for your age and income before you contribute.
Next, decide how much help you want. A self-directed account at Fidelity, Schwab, or Vanguard costs least, but you choose the funds and rebalance them. A managed portfolio at Betterment or Wealthfront handles that work for a fee. An advisor-led relationship at Edward Jones or Merrill adds regular human contact and broader planning, at a higher cost. There is no single right answer, but there is a wrong one: paying for advice you never use, or managing an account yourself when you know you will neglect it.
Keep costs in view over decades
Fund expenses are the quiet cost in retirement investing. A broad index fund with a low expense ratio leaves more of your return invested, while an active fund or a managed portfolio adds a fee that repeats every year. That does not make active funds or advice wrong, but it does mean you should know what the extra cost buys: a manager you trust, a portfolio you will stick with, or planning help you will actually use. Compare the total cost, including fund expenses and any advisory fee, not just the headline account fee.
Questions to ask before you open
Ask how rollovers work, including whether the firm will help you contact your old plan and how long transfers usually take. Ask what happens if your balance falls below a minimum, whether an annual account fee applies, and what it costs to close or transfer the account later. Ask whether your chosen funds carry minimums, loads, or transaction fees. A firm that answers those questions clearly before you fund the account is more likely to serve you well when you need help later.
Frequently asked questions
Which retirement company is best for a beginner?
Fidelity or Charles Schwab are strong starting points for a beginner who wants a self-directed IRA, because both let you open an account with no minimum and offer low-cost index funds. Betterment is a strong pick if you want a managed portfolio and do not want to pick funds yourself. The best choice depends on whether you want to manage the account or have it managed for you.
Should I choose a Roth IRA or a traditional IRA?
A Roth IRA is often favored by savers who expect their tax rate in retirement to be similar or higher, since qualified withdrawals are tax-free, while a traditional IRA may give a tax deduction now. Income limits apply to Roth contributions and to deductibility for traditional IRAs, and withdrawal rules differ. Check the current IRS rules for your income and age, or ask a tax professional, before you decide.
What fees should I watch for in a retirement account?
Watch fund expense ratios, advisory fees for managed portfolios, annual account fees, and transfer or closing fees. Discount brokers often charge no account fee for a plain IRA, while advisor-led firms and managed portfolios charge percentage fees. Fund expenses apply at every firm, so compare them even when the account itself is free to open.
Can I roll an old 401(k) into an IRA at these firms?
Yes, all of the firms above support rollover IRAs, and most will guide you through the steps. The usual process is to open the rollover IRA first, then ask your old plan to send the money directly to the new firm, which avoids tax withholding problems. Allow time for the transfer, and confirm whether your old plan charges an exit fee or requires a specific form.
Is it safe to keep retirement money with one company?
These firms are large, regulated US financial companies, and brokerage accounts carry SIPC protection up to its limits for missing securities, though SIPC does not protect against market losses. Keep records of your accounts, use strong passwords and two-factor authentication, and confirm beneficiary designations after you open the account. Diversifying across firms is possible, but it adds paperwork, so many savers keep retirement accounts at one or two firms.
Sources we checked (8)
- https://www.fidelity.com
- https://www.vanguard.com
- https://www.schwab.com
- https://www.troweprice.com
- https://www.betterment.com
- https://www.wealthfront.com
- https://www.edwardjones.com
- https://www.ml.com
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.