Fidelity VS. Charles Schwab

[gotsmack]

I'm going to open an account with either Schwab or Fidelity.

I've read most of the stuff on both web sites and they seem the same to me. Anyone know different?

Both offer 24/7 customer service.
Both accept direct deposit.
Commission is cheaper at Schwab by $7.

Thanks in advance.

 

[BrunoPuntzJones]

I have both (and Smith Barney) and far prefer Fidelity.

Have had better luck with their funds. Plus I like their website layout, and things are easier to use.

Fund trades just seem to take a while. Or maybe it just takes a while to update. Schwab updates instantly it seems.

Then again I don't sit and watch activity all day so I don't care when it updates.

 

[QueHuong]

Originally posted by: BrunoPuntzJones
I have both (and Smith Barney) and far prefer Fidelity.

Have had better luck with their funds. Plus I like their website layout, and things are easier to use.

Fund trades just seem to take a while. Or maybe it just takes a while to update. Schwab updates instantly it seems.

Then again I don't sit and watch activity all day so I don't care when it updates.

Why do you far prefer Fidelity? I'm thinking of opening a Roth IRA account with one of these two or Vanguard, T Rowe Price, and Merrill Lynch.

 

[gotsmack]

Originally posted by: BrunoPuntzJones
I have both (and Smith Barney) and far prefer Fidelity.

Have had better luck with their funds. Plus I like their website layout, and things are easier to use.

Fund trades just seem to take a while. Or maybe it just takes a while to update. Schwab updates instantly it seems.

Then again I don't sit and watch activity all day so I don't care when it updates.

Thanks Bruno.

How do you deposit checks for Schwab and Fidelity? Do they send you an addressed envelope of you you have to make your own? I would hope that they at least give you a deposit slip.

 

[seanc85]

Schwab will sent you prepaid envelopes with our deposit slips at no charge.
I just opened my account so cant really comment on the service, but i did have my checks, debit card and PIN within about a week, and someone called me to ask if i had questions about the account or any other services they might provide

 

[Vic]

I can't speak for Schwabs, but IME Fidelity's customer service is virtually non-existent. Don't expect to be able to talk a real life human being if you should ever need to.