On this page14 sections
- Ratings and complaints
- Charles Schwab vs. competitors
- Pricing
- Step by step
- Is Charles Schwab legit for retirement planning?
- Schwab retirement planning cost
- What the free Schwab Plan includes
- What happened to Schwab Intelligent Portfolios Premium
- Rolling a 401(k) into a Schwab IRA
- Complaints and how to avoid problems
- Rules that protect retirement savers
- What customers say
- Alternatives
- FAQ
Charles Schwab is a legitimate, heavily regulated firm and a strong low-cost home for retirement savings: Traditional, Roth and rollover IRAs have no opening or maintenance fees and no minimum, online stock and ETF trades are $0, and every client can get a complimentary Schwab Plan that projects the odds of reaching retirement goals. The weak spot is ongoing human advice for mid-size savers. Schwab closed Intelligent Portfolios Premium ($300 setup plus $30 a month with a CFP professional) in the first quarter of 2026, so below $500,000 you get the free plan, a no-advisory-fee robo-advisor and help from Financial Consultants, but no paid, dedicated planner. Schwab's 2022 $187 million SEC penalty over its robo-advisor's cash allocation is a reason to read how any advice product pays Schwab.
- IRA costs
- $0 to open or maintain Traditional, Roth, Rollover, SEP and SIMPLE IRAs; no account minimum; $0 online stock and ETF commissions1
- Free retirement plan
- Schwab Plan: complimentary for every client; runs 1,000 simulated market projections on your goals, income and assets and shows your probability of success2
- Robo-advisor
- Schwab Intelligent Portfolios: no advisory fee, $5,000 minimum; you pay ETF expenses and Schwab earns income on the cash allocation3
- Dedicated advisor
- Schwab Wealth Advisory: 0.80% a year on the first $1 million, tiered down to 0.30% above $10 million; $500,000 minimum4
- Premium tier closed
- Intelligent Portfolios Premium ($300 setup plus $30 a month with a CFP professional) shut down in the first quarter of 20265
- Rollovers
- Rollover Consultants help move an old 401(k) at no cost; no fees to open or maintain a rollover IRA6
- 2026 limits
- IRA contributions $7,500 ($8,600 at 50 or older); 401(k) employee deferrals $24,5007
- Protection
- Brokerage accounts at Charles Schwab & Co., Inc. (FINRA CRD 5393), member SIPC; bank deposits at Charles Schwab Bank, SSB, member FDIC8
Pros
- $0 IRA fees and no minimums
- Free Schwab Plan with probability-based projections for every client
- No-advisory-fee robo-advisor from $5,000
- Free rollover help for old 401(k)s
- 24/7 phone and chat support plus branches
Cons
- No paid human planner below $500,000 since Premium closed in 2026
- Wealth Advisory's 0.80% costs more than Vanguard's 0.30% advisor service
- Robo-advisor holds cash that earns Schwab revenue
- Customer service complaints about wait times and transfers
- Schwab Plan's projections are hypothetical, not personalized advice
Best for: Do-it-yourself savers who want free IRAs, low trading costs and a free retirement projection, and investors with $500,000 or more who want a dedicated advisor at a big firm.
Skip it if: You have less than $500,000 and want an ongoing relationship with a human financial planner.
Charles Schwab vs. competitors
| Company | IRA account fees | Robo-advisor fee | Dedicated advisor | Advisor minimum |
|---|---|---|---|---|
| Charles Schwab | $0 | $0 ($5,000 minimum) | Schwab Wealth Advisory, 0.80% on the first $1 million | $500,000 |
| Fidelity | $0 | Fidelity Go: $0 under $25,000, 0.35% above | Fidelity Wealth Management, 0.50% to 1.50% less a fee credit | Typically $500,000 |
| Vanguard | Not compared here | Not covered on the page we checked | Personal Advisor Select with a dedicated CFP, 0.30% | $500,000 |
| Betterment | Not compared here | $5 a month, or 0.25% with $200+ monthly deposits or $24,000+ | Betterment Premium advisor access, 0.65% | Not published on the pricing page |
Charles Schwab pricing at a glance
Charles Schwab retirement planning options and costs, as listed October 20264
| Option | What you get | Cost | Minimum |
|---|---|---|---|
| IRA with Schwab Plan | Self-directed IRA plus a free, probability-based retirement plan | $0 account fees; $0 online stock and ETF trades | $0 |
| Schwab Intelligent Portfolios | Robo-advisor with automatic rebalancing; tax-loss harvesting from $50,000 | No advisory fee; ETF expenses apply | $5,000 |
| Intelligent Portfolios Premium | Closed in Q1 2026 | Was $300 setup plus $30 a month | Was $25,000 |
| Schwab Personalized Indexing | Direct indexing account | 0.40% on the first $2 million, 0.35% above | $100,000 |
| Schwab Wealth Advisory | Dedicated wealth advisor and team for planning, tax and estate topics | 0.80% on the first $1 million, tiered down to 0.30% above $10 million | $500,000 |
Wealth Advisory fees are tiered, so each rate applies only to assets in that band, and are billed quarterly. Fund operating expenses apply in every option. Schwab's Satisfaction Guarantee refunds eligible fees if you ask within 90 days of the charge.
Charles Schwab, step by step
Open an IRA or brokerage account
There's no minimum and no account fee. Open online, by phone or at one of Schwab's branches.
Build your Schwab Plan
Enter when you want to retire, expected expenses, income, investments and assets. Schwab runs 1,000 market simulations and shows your probability of reaching your goals.
Move old accounts
Use a Rollover Consultant to move a former employer's 401(k) into a rollover IRA without taxes or penalties when done as a direct rollover.
Choose how hands-on to be
Invest yourself, use Intelligent Portfolios from $5,000, or, with $500,000 or more, hire Schwab Wealth Advisory.
Update as life changes
Revisit the saved plan, stress-test retirement age and spending, and use Schwab's RMD and Roth conversion calculators as you near retirement.
Is Charles Schwab legit for retirement planning?
Yes. Charles Schwab & Co., Inc. is a FINRA-registered broker-dealer (CRD 5393) and SIPC member, Schwab Wealth Advisory is a registered investment adviser, and Schwab’s bank deposits are FDIC insured. SIPC protects up to $500,000 in securities and cash (including $250,000 cash) if a member brokerage fails; it doesn’t cover market losses.
Schwab does have a regulatory record. In 2022 the SEC ordered Schwab subsidiaries to pay $187 million for misleading Intelligent Portfolios clients about how the robo-advisor’s cash allocation earned Schwab money. The BBB rates The Charles Schwab Corporation A+ (not accredited) with 479 complaints in three years, and most of Schwab’s CFPB complaints involve bank accounts rather than IRAs.
Schwab retirement planning cost
Planning itself is free: every Schwab client can build a Schwab Plan, and IRAs have no opening, maintenance or minimum fees. What you pay depends on how much help you want:
- Do it yourself: $0 online stock and ETF trades, $0.65 per options contract, $25 for broker-assisted trades, plus fund expenses.
- Robo-advisor: Schwab Intelligent Portfolios charges no advisory fee from $5,000, but part of each portfolio sits in cash that Schwab earns income on.
- Dedicated advisor: Schwab Wealth Advisory charges 0.80% a year on the first $1 million, tiered down to 0.30% above $10 million, with a $500,000 minimum. On $600,000, that’s about $4,800 a year.
What the free Schwab Plan includes
Schwab Plan asks when you want to retire, what you’ll spend, and your income, investments and assets. It then runs 1,000 simulated market projections to estimate your probability of reaching your goals, lets you stress-test changes such as retiring later or spending less, and suggests next steps. You can save and update it as your life changes. Schwab notes the projections are hypothetical and not personalized investment advice, so treat the result as a starting point. Schwab also offers free retirement savings, RMD, Roth conversion and IRA calculators.
What customers say about Charles Schwab
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- $0 IRA fees and $0 online stock and ETF trades
- Free retirement plan and calculators
- Wide investment choice and branch access
- Highly rated mobile app
Common complaints
- Long hold times and transfers between representatives
- Locked accounts and slow transfers (Trustpilot)
- Cash allocation in the robo-advisor
- No mid-priced human advisor after Premium closed
Rolling a 401(k) into a Schwab IRA
Schwab Rollover Consultants walk you through moving an old employer plan at no cost, and a rollover IRA has no fees to open or maintain. Ask your old plan for a direct rollover (trustee to trustee) to avoid mandatory withholding and the 60-day deadline that applies when a check is made out to you. Before you roll over, compare your old plan’s fund costs and protections; some 401(k)s have very low-cost institutional funds, and leaving money there can be reasonable.
Complaints and how to avoid problems
Trustpilot reviews of Schwab average 1.5 out of 5 from 784 reviews and focus on phone support, locked accounts and slow transfers, while Schwab Mobile holds 4.8 on the App Store. To avoid common problems:
- Start transfers and rollovers well before any deadline, and keep confirmation numbers.
- Check every trade and contribution confirmation, especially the tax year on IRA deposits.
- Ask how any managed product is paid, including cash allocations.
- Look up any advisor on FINRA BrokerCheck or the SEC’s adviser search.
- Use Schwab’s Satisfaction Guarantee within 90 days of an eligible fee if something goes wrong.
Rules that protect retirement savers
Investment advisers like Schwab Wealth Advisory owe you a fiduciary duty, and broker-dealers must act in your best interest when they recommend a security or account type under the SEC’s Regulation Best Interest, including rollover recommendations. Schwab must give you a Form CRS client relationship summary explaining fees and conflicts. IRA rules come from the IRS: for 2026 you can contribute up to $7,500, or $8,600 at age 50 or older.
Alternatives to Charles Schwab
- Fidelity Similar $0 IRAs and free planning, plus a robo-advisor that's free under $25,000 with no $5,000 minimum. Read review
- Vanguard A dedicated CFP for 0.30% a year if you have $500,000 or more and mostly want index funds. Vanguard sold its Individual 401(k) business to Ascensus in 2024 and now offers only the SEP-IRA for small businesses. Read review
- Betterment Paid access to human advisors for balances well under $500,000, which Schwab no longer offers. Read review
- A fee-only CFP for a one-time plan If you want a human to check your retirement plan once, an hourly or flat-fee planner avoids ongoing asset-based fees.
Charles Schwab reviews
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Frequently asked questions
Does Charles Schwab offer free retirement planning?
Yes. Every Schwab client can get a complimentary Schwab Plan that projects the probability of reaching retirement goals. There's no account minimum to open an IRA.
How much does a Schwab financial advisor cost?
Schwab Wealth Advisory needs $500,000 to start and charges 0.80% a year on the first $1 million, with the rate stepping down to 0.30% on assets above $10 million.
Is Schwab Intelligent Portfolios free?
It charges no advisory fee or commissions with a $5,000 minimum. You still pay ETF expenses, and Schwab earns income on the cash portion of your portfolio.
Does Schwab still offer Intelligent Portfolios Premium?
No. Schwab closed the $30-a-month Premium tier with CFP guidance in the first quarter of 2026.
Are there fees for a Schwab IRA?
No. Schwab charges $0 to open or maintain Traditional, Roth, Rollover, SEP and SIMPLE IRAs, with no minimum. Fund expenses and some trade fees can apply.
Can Schwab help me roll over my 401(k)?
Yes. Schwab Rollover Consultants help at no cost, and there are no fees to open or maintain a rollover IRA.
Is my money safe at Schwab?
Brokerage accounts are protected by SIPC up to $500,000, including $250,000 cash, if Schwab's brokerage fails, and bank deposits are FDIC insured. Neither covers investment losses.
What is the 2026 IRA contribution limit?
$7,500, or $8,600 if you're 50 or older, according to the IRS.
Is Schwab or Fidelity better for retirement?
Both offer $0 IRAs and free planning tools. Fidelity's robo-advisor is free under $25,000 with no $5,000 minimum, while Schwab's is free at any balance above $5,000; both reserve dedicated advisors mostly for larger balances.
Does Schwab have a retirement calculator?
Yes. Schwab offers free calculators for retirement savings, required minimum distributions, Roth conversions and IRA choices, plus the Schwab Plan projection.
Sources (17)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Schwab: Pricing, commissions and fees (accessed October 12, 2026)
- Schwab: Schwab Plan complimentary financial plan (accessed October 12, 2026)
- Schwab: Schwab Intelligent Portfolios (accessed October 12, 2026)
- Schwab: Schwab Wealth Advisory (accessed October 12, 2026)
- InvestmentNews: As Schwab shutters hybrid robo (December 22, 2025) (accessed October 12, 2026)
- Schwab: Rollover IRA (accessed October 12, 2026)
- IRS: 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (IR-2025-111) (accessed October 12, 2026)
- FINRA BrokerCheck: Charles Schwab & Co., Inc. (CRD 5393) (accessed October 12, 2026)
- SEC: Schwab subsidiaries misled robo-adviser clients about absence of hidden fees (2022-104) (accessed October 12, 2026)
- BBB: The Charles Schwab Corporation business profile (accessed October 12, 2026)
- CFPB complaint database API: The Charles Schwab Corporation, October 12, 2023 to October 12, 2026 (accessed October 12, 2026)
- Trustpilot: Charles Schwab reviews (accessed October 12, 2026)
- Apple App Store: Schwab Mobile (accessed October 12, 2026)
- SIPC: What SIPC protects (accessed October 12, 2026)
- Fidelity: Fidelity Go (accessed October 12, 2026)
- Vanguard: Personal Advisor Select (accessed October 12, 2026)
- Betterment: Pricing (accessed October 12, 2026)
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