Updated 2026-03-20

Vanguard vs Lincoln Financial 401(k) Comparison

Compare Vanguard (#2, 9.3/10) and Lincoln Financial (#17, 6.9/10) side by side across fees, ratings, features, and investment options.

Overall Comparison

FeatureVanguardLincoln Financial
Overall Score9.3/106.9/10
Rank#2#17
AUM$8.6 trillion$350 billion
Participants32 million8 million
Plan Sponsors5,600+10,000+
Founded19751905

Ratings Comparison

CategoryVanguardLincoln Financial
Fees & Costs5.0/53.3/5
Investment Options4.5/53.8/5
Customer Service4.2/53.9/5
Mobile App4.0/53.4/5

Fee Comparison

Fee TypeVanguardLincoln Financial
Admin Fees$0 - $60/yearVaries by plan size
Expense Ratios0.03% - 0.50%0.10% - 1.5%
Trading Fees$0 for Vanguard fundsPlan dependent
Advisory Fees0.30%0.40% - 1.0%

Vanguard Strengths

Lincoln Financial Strengths

Rollover, Loans & Withdrawals

FeatureVanguardLincoln Financial
Rollover PlatformVanguard.comLincoln Financial Portal
Loans AvailableYesYes
Withdrawal MethodsOnline via Vanguard.com, Phone (800-523-1188)Online via Lincoln Financial portal, Phone (800-454-6265), Through plan administrator
Distribution OptionsLump sum, Partial withdrawal, Systematic withdrawals, Rollover to IRALump sum, Partial withdrawal, Annuity conversion, Installment payments, Rollover to IRA, Required Minimum Distributions

Which Should You Choose?

Choose Vanguard if you want:

  • Buy-and-hold investors
  • Cost-minimizers
  • Index fund believers
  • Long-term planners

Choose Lincoln Financial if you want:

  • Companies wanting guaranteed income options
  • Insurance-focused employers
  • Mid-size to large plans
  • Annuity seekers

Our Verdict: Vanguard vs Lincoln Financial

Vanguard wins this comparison with a score of 9.3/10 vs 6.9/10. Vanguard excels with lowest expense ratios in the industry, 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.

Full Vanguard Review Full Lincoln Financial Review

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Vanguard vs Lincoln Financial: Complete 401(k) Comparison for 2026

Choosing between Vanguard and Lincoln Financial for your 401(k) is an important decision that affects your retirement savings. Vanguard offers lowest costs while Lincoln Financial is known for top 10 recordkeeper. In terms of fees, Vanguard charges 0.03% - 0.50% expense ratios compared to Lincoln Financial's 0.10% - 1.5%. Vanguard manages $8.6 trillion in assets and serves 32 million participants, while Lincoln Financial has $350 billion AUM and 8 million participants.

Key Differences: Vanguard vs Lincoln Financial

When comparing Vanguard and Lincoln Financial, consider their core strengths: Vanguard excels with lowest expense ratios in the industry, while Lincoln Financial stands out for strong guaranteed income and annuity options. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Vanguard's customer service rating is 4.2/5 compared to Lincoln Financial's 3.9/5. For mobile experience, Vanguard scores 4.0/5 while Lincoln Financial scores 3.4/5.

Which Provider is Right for You?

Choose Vanguard if you prioritize buy-and-hold investors. Choose Lincoln Financial if you're looking for companies wanting guaranteed income options. 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 Vanguard and Lincoln Financial provider pages.

Frequently Asked Questions

Vanguard scores higher in our 2026 rankings with 9.3/10. Vanguard is best for buy-and-hold investors, while Lincoln Financial is best for companies wanting guaranteed income options. The right choice depends on your employer's plan and your priorities.

Vanguard charges expense ratios of 0.03% - 0.50% with admin fees of $0 - $60/year. Lincoln Financial charges 0.10% - 1.5% expense ratios with admin fees of Varies by plan size. Vanguard's fees rating is 5.0/5 compared to Lincoln Financial's 3.3/5.

Yes, you can roll over between Vanguard and Lincoln Financial. Vanguard uses Vanguard.com for rollovers, while Lincoln Financial uses Lincoln Financial Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.

Vanguard offers 401(k) loans. Lincoln Financial offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.

Vanguard scores 4.5/5 for investment options, while Lincoln Financial scores 3.8/5. Both offer target-date funds, index funds, and managed accounts. Vanguard's investment options include Index Funds, Target Date Funds, Mutual Funds. Lincoln Financial offers Mutual Funds, Target Date Funds, Fixed Annuities.

For small businesses, consider plan minimums and per-participant costs. Vanguard is best for buy-and-hold investors, cost-minimizers, index fund believers, long-term planners. Lincoln Financial is best for companies wanting guaranteed income options, insurance-focused employers, mid-size to large plans, annuity seekers. Compare admin fees: Vanguard charges $0 - $60/year vs Lincoln Financial's Varies by plan size.

Pavlo Pyskunov

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: 2026-03-20