UPDATE 2.20.24: Are you with the right broker? Again in 2023, Kiplinger’s (and also Barron’s) named Fidelity the best online broker.
Originally posted October 20, 2016.
No surprises here as Kiplinger’s names Fidelity as the top online broker thanks to its mix of services, investing products, and retirement-planning tools. If you don’t have an account with Fidelity then you’re missing the boat.
Investors looking for the best brokerage firm need look no further, according to Kiplinger’smagazine. The results from the magazine’s annual broker survey are in, and while many firms shined in one category or another, Fidelity claimed the number one spot overall for 2016. This is the fifth time Fidelity has received this award. It previously won in 2007, 2008, 2011 and 2014.1
Kiplinger’s survey assessed data from seven of the biggest brokers in the business: Fidelity, E*Trade, Merrill Edge, Schwab, Scottrade, TD Ameritrade and Vanguard (Kiplinger’s excluded some brokers that focus primarily on active traders and lack a full suite of investment choices and services). Results were close for many of the categories, but Fidelity edged past Merrill Edge and Schwab for first place in the survey due to its full range of retirement and advisory services, along with superior investing tools and customer service.
Another area where Fidelity muscled its way to the top of the category was in its investment choices. With a list of 3,737 no-transaction-fee funds, Fidelity beat every other broker. Other areas Fidelity took the top spot: “Best for Mutual Fund Investors” and “Best for Managing Cash.”
