Fidelity vs Schwab 401(k) Comparison
Compare Fidelity Investments (#1, 9.5/10) and Charles Schwab (#3, 9.1/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Fidelity | Schwab |
|---|---|---|
| Overall Score | 9.5/10 | 9.1/10 |
| Rank | #1 | #3 |
| AUM | $4.5 trillion | $8.5 trillion |
| Participants | 43 million | 28 million |
| Plan Sponsors | 23,000+ | 3,200+ |
| Founded | 1946 | 1971 |
Ratings Comparison
| Category | Fidelity | Schwab |
|---|---|---|
| Fees & Costs | 4.9/5 | 4.5/5 |
| Investment Options | 4.9/5 | 4.7/5 |
| Customer Service | 4.8/5 | 4.7/5 |
| Mobile App | 4.7/5 | 4.5/5 |
Fee Comparison
| Fee Type | Fidelity | Schwab |
|---|---|---|
| Admin Fees | $0 - varies by plan | $0 - varies by plan |
| Expense Ratios | 0.00% - 0.75% | 0.03% - 0.80% |
| Trading Fees | $0 for stocks/ETFs | $0 for stocks/ETFs |
| Advisory Fees | 0.35% - 1.0% | 0% - 0.80% |
Fidelity Strengths
- Zero expense ratio index funds (FZROX, FZILX)
- Industry-leading mobile app and online platform
- 24/7 customer service with dedicated retirement specialists
- Extensive investment options including BrokerageLink
Schwab Strengths
- Excellent customer service with 24/7 support
- Comprehensive research and education tools
- Schwab Intelligent Portfolios (free robo-advisor)
- Strong integration after TD Ameritrade merger
Which Should You Choose?
Choose Fidelity if you want:
- Large employers
- Cost-conscious investors
- Self-directed investors
- Solo 401(k) seekers
Choose Schwab if you want:
- Full-service seekers
- Active traders
- Those wanting local branches
- TD Ameritrade users
Our Verdict: Fidelity vs Schwab
Fidelity Investments wins this comparison with a score of 9.5/10 vs 9.1/10. Fidelity excels with zero expense ratio index funds (fzrox, fzilx), making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Fidelity vs Schwab: Complete 401(k) Comparison for 2026
Choosing between Fidelity Investments and Charles Schwab for your 401(k) is an important decision that affects your retirement savings. Fidelity offers largest provider while Schwab is known for full service. In terms of fees, Fidelity charges 0.00% - 0.75% expense ratios compared to Schwab's 0.03% - 0.80%. Fidelity manages $4.5 trillion in assets and serves 43 million participants, while Schwab has $8.5 trillion AUM and 28 million participants.
Key Differences: Fidelity vs Schwab
When comparing Fidelity and Schwab, consider their core strengths: Fidelity excels with zero expense ratio index funds (fzrox, fzilx), while Schwab stands out for excellent customer service with 24/7 support. Both providers offer comprehensive investment options including target-date funds, index funds, and managed accounts. Fidelity's customer service rating is 4.8/5 compared to Schwab's 4.7/5. For mobile experience, Fidelity scores 4.7/5 while Schwab scores 4.5/5.
Which Provider is Right for You?
Choose Fidelity if you prioritize large employers. Choose Schwab if you're looking for full-service seekers. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Fidelity and Schwab provider pages.