Updated 2026-03-30
Schwab vs John Hancock 401(k) Comparison
Compare Charles Schwab (#3, 9.1/10) and John Hancock (#10, 7.7/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Schwab | John Hancock |
|---|---|---|
| Overall Score | 9.1/10 | 7.7/10 |
| Rank | #3 | #10 |
| AUM | $8.5 trillion | $600 billion |
| Participants | 28 million | 3 million |
| Plan Sponsors | 3,200+ | 48,000+ |
| Founded | 1971 | 1862 |
Ratings Comparison
| Category | Schwab | John Hancock |
|---|---|---|
| Fees & Costs | 4.5/5 | 3.5/5 |
| Investment Options | 4.7/5 | 3.7/5 |
| Customer Service | 4.7/5 | 4.0/5 |
| Mobile App | 4.5/5 | 3.6/5 |
Fee Comparison
| Fee Type | Schwab | John Hancock |
|---|---|---|
| Admin Fees | $0 - varies by plan | $1,000 - $4,000/year |
| Expense Ratios | 0.03% - 0.80% | 0.30% - 1.3% |
| Trading Fees | $0 for stocks/ETFs | Plan dependent |
| Advisory Fees | 0% - 0.80% | 0.40% - 0.90% |
Schwab Strengths
- Excellent customer service with 24/7 support
- complete research and education tools
- Schwab Intelligent Portfolios (free robo-advisor)
- Strong integration after TD Ameritrade merger
John Hancock Strengths
- Unique wellness program integration
- Vitality rewards for healthy behavior
- Strong financial wellness education
- complete planning tools
Rollover, Loans & Withdrawals
| Feature | Schwab | John Hancock |
|---|---|---|
| Rollover Platform | Schwab.com | myplan.johnhancock.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Schwab.com, Phone (800-724-7526), Schwab branch offices | Online via myplan.johnhancock.com, Phone (800-395-1113) |
| Distribution Options | Lump sum, Partial withdrawal, Systematic withdrawals, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA |
Which Should You Choose?
Choose Schwab if you want:
- Full-service seekers
- Active traders
- Those wanting local branches
- TD Ameritrade users
Choose John Hancock if you want:
- Wellness-focused employers
- Mid-sized companies
- Insurance bundle seekers
Our Verdict: Schwab vs John Hancock
Charles Schwab wins this comparison with a score of 9.1/10 vs 7.7/10. Schwab excels with excellent customer service with 24/7 support, 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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Schwab vs John Hancock: Complete 401(k) Comparison for 2026
Choosing between Charles Schwab and John Hancock for your 401(k) is an important decision that affects your retirement savings. Schwab offers full service while John Hancock is known for wellness focus. In terms of fees, Schwab charges 0.03% - 0.80% expense ratios compared to John Hancock's 0.30% - 1.3%. Schwab manages $8.5 trillion in assets and serves 28 million participants, while John Hancock has $600 billion AUM and 3 million participants.
Key Differences: Schwab vs John Hancock
When comparing Schwab and John Hancock, consider their core strengths: Schwab excels with excellent customer service with 24/7 support, while John Hancock stands out for unique wellness program integration. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Schwab's customer service rating is 4.7/5 compared to John Hancock's 4.0/5. For mobile experience, Schwab scores 4.5/5 while John Hancock scores 3.6/5.
Which Provider is Right for You?
Choose Schwab if you prioritize full-service seekers. Choose John Hancock if you're looking for wellness-focused employers. 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 Schwab and John Hancock provider pages.
Frequently Asked Questions
Charles Schwab scores higher in our 2026 rankings with 9.1/10. Schwab is best for full-service seekers, while John Hancock is best for wellness-focused employers. The right choice depends on your employer's plan and your priorities.
Schwab charges expense ratios of 0.03% - 0.80% with admin fees of $0 - varies by plan. John Hancock charges 0.30% - 1.3% expense ratios with admin fees of $1,000 - $4,000/year. Schwab's fees rating is 4.5/5 compared to John Hancock's 3.5/5.
Yes, you can roll over between Schwab and John Hancock. Schwab uses Schwab.com for rollovers, while John Hancock uses myplan.johnhancock.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Schwab offers 401(k) loans. John Hancock offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Schwab scores 4.7/5 for investment options, while John Hancock scores 3.7/5. Both offer target-date funds, index funds, and managed accounts. Schwab's investment options include Index Funds, Target Date Funds, Mutual Funds. John Hancock offers Mutual Funds, Target Date Funds, Stable Value.
For small businesses, consider plan minimums and per-participant costs. Schwab is best for full-service seekers, active traders, those wanting local branches, td ameritrade users. John Hancock is best for wellness-focused employers, mid-sized companies, insurance bundle seekers. Compare admin fees: Schwab charges $0 - varies by plan vs John Hancock's $1,000 - $4,000/year.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-30