The big three brokerage firms, renowned for their extensive customer bases and significant assets under management, are Fidelity Investments, Vanguard, and Charles Schwab. These firms dominate the U.S. brokerage landscape, serving tens of millions of individual investors.
Defining the Industry's Leaders
These firms are consistently recognized as leaders due to their sheer scale, offering a wide range of investment products and services to a vast clientele. Their prominence is often measured by the number of customer accounts they hold, which reflects their reach and market penetration.
Based on recent data, the ranking by customer accounts positions these three firms at the top:
| Rank | Firm | Customer Accounts |
|---|---|---|
| 1 | Fidelity Investments | 51.5 million |
| 2 | Vanguard | 50+ million |
| 3 | Charles Schwab | 35.6 million |
Data sourced from analyses of top brokerage firms by AUM and number of accounts, highlighting the biggest stock brokerage firms in the US.
Each of these companies has cultivated a strong reputation for distinct reasons:
- Fidelity Investments: Known for its comprehensive suite of services, including brokerage accounts, retirement planning, wealth management, and a wide array of mutual funds and ETFs.
- Vanguard: Famous for its low-cost index funds and ETFs, adhering to a client-owned structure that aims to return profits to investors through lower fees.
- Charles Schwab: A pioneer in discount brokerage, offering a broad range of investment products, banking services, and financial advisory options, significantly expanded through its acquisition of TD Ameritrade.
Together, these three firms represent a significant portion of the retail investment market, providing accessible platforms for individuals to manage their financial futures.
