Updated 2026-03-30
Schwab vs T. Rowe Price 401(k) Comparison
Compare Charles Schwab (#3, 9.1/10) and T. Rowe Price (#5, 8.5/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Schwab | T. Rowe Price |
|---|---|---|
| Overall Score | 9.1/10 | 8.5/10 |
| Rank | #3 | #5 |
| AUM | $8.5 trillion | $1.3 trillion |
| Participants | 28 million | 10 million |
| Plan Sponsors | 3,200+ | 4,500+ |
| Founded | 1971 | 1937 |
Ratings Comparison
| Category | Schwab | T. Rowe Price |
|---|---|---|
| Fees & Costs | 4.5/5 | 3.8/5 |
| Investment Options | 4.7/5 | 4.6/5 |
| Customer Service | 4.7/5 | 4.4/5 |
| Mobile App | 4.5/5 | 4.2/5 |
Fee Comparison
| Fee Type | Schwab | T. Rowe Price |
|---|---|---|
| Admin Fees | $0 - varies by plan | $0 - $50/year |
| Expense Ratios | 0.03% - 0.80% | 0.30% - 1.2% |
| Trading Fees | $0 for stocks/ETFs | $0 for T. Rowe Price funds |
| Advisory Fees | 0% - 0.80% | 0.30% - 1.25% |
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
T. Rowe Price Strengths
- Excellent actively managed fund performance
- Best-in-class target date funds
- Strong research capabilities
- No-transaction-fee mutual fund platform
Rollover, Loans & Withdrawals
| Feature | Schwab | T. Rowe Price |
|---|---|---|
| Rollover Platform | Schwab.com | Individual.troweprice.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Schwab.com, Phone (800-724-7526), Schwab branch offices | Online portal, Phone (800-225-5132) |
| 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 T. Rowe Price if you want:
- Active fund believers
- Target-date fund users
- Research-oriented investors
- Long-term holders
Our Verdict: Schwab vs T. Rowe Price
Charles Schwab wins this comparison with a score of 9.1/10 vs 8.5/10. 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 T. Rowe Price: Complete 401(k) Comparison for 2026
Choosing between Charles Schwab and T. Rowe Price for your 401(k) is an important decision that affects your retirement savings. Schwab offers full service while T. Rowe Price is known for active management. In terms of fees, Schwab charges 0.03% - 0.80% expense ratios compared to T. Rowe Price's 0.30% - 1.2%. Schwab manages $8.5 trillion in assets and serves 28 million participants, while T. Rowe Price has $1.3 trillion AUM and 10 million participants.
Key Differences: Schwab vs T. Rowe Price
When comparing Schwab and T. Rowe Price, consider their core strengths: Schwab excels with excellent customer service with 24/7 support, while T. Rowe Price stands out for excellent actively managed fund performance. 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 T. Rowe Price's 4.4/5. For mobile experience, Schwab scores 4.5/5 while T. Rowe Price scores 4.2/5.
Which Provider is Right for You?
Choose Schwab if you prioritize full-service seekers. Choose T. Rowe Price if you're looking for active fund believers. 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 T. Rowe Price 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 T. Rowe Price is best for active fund believers. 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. T. Rowe Price charges 0.30% - 1.2% expense ratios with admin fees of $0 - $50/year. Schwab's fees rating is 4.5/5 compared to T. Rowe Price's 3.8/5.
Yes, you can roll over between Schwab and T. Rowe Price. Schwab uses Schwab.com for rollovers, while T. Rowe Price uses Individual.troweprice.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Schwab offers 401(k) loans. T. Rowe Price 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 T. Rowe Price scores 4.6/5. Both offer target-date funds, index funds, and managed accounts. Schwab's investment options include Index Funds, Target Date Funds, Mutual Funds. T. Rowe Price offers Active Mutual Funds, Target Date Funds, Index Funds.
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. T. Rowe Price is best for active fund believers, target-date fund users, research-oriented investors, long-term holders. Compare admin fees: Schwab charges $0 - varies by plan vs T. Rowe Price's $0 - $50/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