Table of Contents
Introduction
Managing your wealth is important and this article is going to help you achieve this goal as you are going to learn some tips as well as the differences between Fidelity Wealth Management Solutions and Charles Schwab StreetSmart Edge. Both platforms are packed with features and services that can help you in making the right decisions and in the management of your wealth. In this guide, we are going to compare these two platforms and help you choose the right one for your financial goals.
Fidelity's Wealth Management Solutions
Fidelity is one of the biggest names in the financial services industry and offers a wide range of investment and wealth management products and services. Their Wealth Management Solutions platform is intentionally created for investors like you to provide you with the necessary tools that will lead you to financial freedom.
Features and Benefits
- Portfolio Analysis: Fidelity’s Wealth Management Solutions offers one of the best portfolio analysis tools in the market. This tool will help you identify what you own and where the strengths and weaknesses of your portfolio lie. You’ll get asset allocation, risk, and performance evaluations to help you make informed decisions.
- Financial Planning: The platform also provides various planning tools, making it easier for you to set and track your financial goals. Whether it’s for retirement or college, Fidelity has all the tools you need to plan for your financial future.
- Research and Insights: When it comes to research, Fidelity is one of the biggest names in the industry and their Wealth Management Solutions platform is no different. You will be able to access a huge number of research reports, market analysis and other educational materials that are aimed at assisting you in making the right investment decisions.
- Mobile App: Fidelity’s Wealth Management Solutions also has a mobile app that allows you to manage your investments anytime, anywhere. With the current market data and account balances, you would be well-positioned to make decisions on the go.
Charles Schwab's StreetSmart Edge
Charles Schwab is another major player in the financial services industry and provides a good number of investment and wealth management products. The firm’s StreetSmart Edge platform is a comprehensive trading and portfolio management solution that is coupled with tools and information to assist the investor in his or her investment decisions.
Features and Benefits
- Advanced Trading Tools: Schwab's StreetSmart Edge has a number of trading features including real-time streaming quotes, graphing tools that can be personalized, and technical analysis tools. These features are mainly for the active trader who needs certain level of accuracy in the trades that he or she makes.
- Options Trading: This platform has a strong presence in options trading such that you will find it easy to trade in options. You will be able to trade in options, view options chains and strategic calculators to assist you in your trading.
- Screeners and Scanners: There are powerful screening and scanning tools available in StreetSmart Edge that enables you to sort and search for trades based on your preferred criteria to help you identify potential trades.
- Education and Training: Schwab is a learning company and this is reflected in StreetSmart Edge which offers training in the form of webinars and tutorials to enhance your trading skills.
Comparing Fidelity’s Wealth Management Solutions and Charles Schwab’s StreetSmart Edge
Now that we have seen what each of the two platforms has to offer, we can now compare them directly.
User Interface and Ease of Use
Both platforms have a very simple interface that is easy to use. But if you are new to trading then Fidelity’s setup may be more suited to your tastes as it is relatively simpler than that of Schwab.
Investment Options
Both Fidelity and Schwab provide their clients with a wide choice of investment products including stocks and bonds. However, Fidelity may have a slightly better offer when it comes to mutual funds and ETFs.
Research and Insights
Both the brands are famous for their research activities and while Fidelity offers a huge number of reports, Schwab offers complex charting tools and technical analysis. It will depend on the type of research that you are interested in.
Costs and Fees
Both the platforms are quite affordable; however, there are certain charges that are associated with the accounts and investments. It is important that you look at the fees and possibly talk to a financial advisor to understand all the costs that are involved.
