Brokerage Account Providers

In order to keep costs low, we are going to suggest one of the following three discount custodians for you to do business with to manage your savings and investments outside of your job’s 401(k) savings plan. All of these firms will serve as a custodian of your assets – meaning they will hold any assets you buy in an account in your name and they will provide you with statements and trade confirmations regarding activity in your account. They will also serve as your broker in that they will place your investment buy and sell orders, and as of 2020 each of them do not charge transaction fees for online equity trades. Generally, you won’t go wrong with any of these companies since they all focus on keeping investor costs low and are the most established discount online brokers available. There are several operational fees associated with these accounts that vary among the firms like account closing fees, overdrafts, wire requests etc. Please review each website’s material in detail and call the representatives at the firm if you have further questions when opening an account.