Highest rated full-service brokerage companies for personalized wealth management and investment advisory.

Charles Schwab

Schwab manages assets worth $9.57 trillion, including 1.6 million corporate retirement plan members and 1.1 million bank accounts with Schwab Bank. Among these assets, $1.2 trillion are in managed accounts. Schwab employs 1,500 financial advisors and works with 15,000 registered investment advisors, creating over 100,000 financial plans for clients.

Schwab offers its own mutual funds and ETFs, with 71 mutual funds and 21 ETFs available for commission-free trading. The firm also provides access to 5,331 mutual funds, 3,247 of which are no-load, no-transaction-fee options.

With 325 branches nationwide, Schwab provides in-person service, along with checking accounts through its FDIC-insured bank, which come with a Visa debit card and worldwide ATM fee reimbursements.

Schwab’s website has a new menu for easier navigation and a broad educational section with articles, videos, and webinars covering topics like cash flow, debt-to-equity ratios, and tax strategies.

Trading tools at Schwab include an Apple Watch app, a mobile app with CNBC live streaming, and the advanced thinkorswim desktop platform, which only requires a $1,000 account balance.

Learn more in Charles Schwab review.

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Edward Jones

Edward Jones is a full-service broker focused on fee-based account management, overseeing over $2 trillion in client assets across 8 million accounts. The management fee is a percentage of assets under management, varying based on account size and portfolio type, such as stocks, bonds, and ETFs. Fees range from 0.85% to 2.5% per year, with additional commissions on trades.

With nearly 15,000 offices across all 50 states and Washington, D.C., Edward Jones has the largest network of locations among U.S. brokers, and it also operates about 600 locations in Canada.

Learn more in Edward Jones review.

Raymond James

Raymond James also specializes in managing client accounts for a fee based on assets, overseeing more than $1.48 trillion. Fees depend on portfolio balance and range from 1.0% to 2.25%. For instance, a $100,000 account could incur a $2,250 annual management fee.

Similar to Edward Jones, Raymond James charges high commissions for trades. Accounts with balances under $100,000 are subject to a $50 annual fee, and IRAs have a $100 closing fee.

Raymond James operates over 2,800 branches, staffed by roughly 7,100 financial professionals, and offers phone support on weekdays.

Clients at Raymond James gain access to extensive security research, covering nine economic sectors and over 1,300 stocks. The firm also provides free research on mutual funds and bonds.

Raymond James runs its own FDIC-insured bank, offering clients cash management options. Balances can be swept into multiple FDIC-insured banks for increased coverage up to ten times the standard $250,000. The Capital Access account, linked to a brokerage account, offers check writing and a debit card. Accounts below $500,000 are subject to a $150 annual fee for this service, and ATM fee reimbursements are capped at $100 per year for clients with at least $250,000 in assets.

Learn more in Raymond James review.

Comparison

Active traders may prefer Charles Schwab, which offers $0 commissions on stocks and ETFs, while Raymond James and Edward Jones charge $9.95 per trade.

Investors in small towns may find Edward Jones or Raymond James more accessible due to their large branch networks, which include smaller communities. However, those who prefer to manage their finances independently may find these firms less suited to their needs. Edward Jones, with its vast network, is often easier to access in smaller towns.

Raymond James and Edward Jones charge $30 for mutual fund transactions, while Schwab and Fidelity charge $49.95 for funds with transaction fees. All major brokers have extensive lists of commission-free funds, though Schwab offers the fewest. Raymond James and Edward Jones do not offer commission-free ETFs.

Best Full-Service Brokerage Firms Recap

The five largest broker-dealers manage vast sums of money and serve millions of clients. Some investors, however, may find better value with smaller firms, like Firstrade.

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