Charles Schwab is a better option for retail investors, especially beginners, due to its lower account minimums, $0 commission trading, robust trading platforms, and comprehensive customer support. BlackRock, with its higher AUM and focus on institutional and high-net-worth clients, may be more suitable for larger, more sophisticated investors.
| Attribute | Charles Schwab | BlackRock |
|---|---|---|
| Assets Under Management (AUM) | As of August 2024, $9.4 trillion | $11.58 trillion as of March 31, 2025 |
| Investment Options | Stocks (including fractional shares of S&P 500 companies), bonds, CDs, ETFs, money market funds, and mutual funds. Also offers access to international stocks. | Asset management, wealth management, alternative investments, and ESG investing. Primarily invests in exchange-traded funds (ETFs) and mutual funds, diversified among traditional (e.g., stocks and bonds) and non-traditional (e.g., REITs and bank loans) income sources. |
| Account Minimums | No minimum to open a brokerage account. Margin accounts have a $2,000 minimum, and "Core Portfolios" have a $500 minimum. For non-U.S. clients, there is a $25,000 minimum. | Vary significantly based on the type of account, ranging from $250,000 to $1 million (may be changed or waived at the firm's discretion). Lower minimums for certain employer-sponsored retirement plans. Some funds have minimum initial investments of $100,000, and certain institutional funds require $10,000,000. |
| Advisory Services Offered | Robo-advisor: Schwab Intelligent Portfolios. Financial Planning: Offers complimentary digital plans and one-on-one guidance from financial consultants. | Investment and technology services to institutional and retail clients. Access to mutual funds, retirement income, college savings investments, and ETFs. Private Investors accounts with a personal Portfolio Manager generally require a minimum investment of $1 million. Equity and fixed income accounts below $1 million (minimum $250,000) are serviced by a managed account team with limited customization. |
| Fee Structure | Management Fees: No advisory fee for Schwab Intelligent Portfolios. Commission Fees: $0 commission for stocks, options, and ETF trades. Options have a $0.65 per contract fee. OTC trades are $6.95. | Management fees typically range from 0.50% to 1.50% based on the account balance. Fees can vary based on the specific products and mandates. |
| Research and Educational Resources | Extensive research offerings, including Schwab's equity ratings and analyses from top research firms. Schwab MoneyWise provides financial education, guidance, and tools. Also offers Schwab Coaching for live, interactive guidance from trading professionals. | Research and insights on global economy, markets, and geopolitics through the BlackRock Investment Institute. |
| Trading Platform and Tools | Offers multiple platforms: Schwab.com, Schwab Mobile, and thinkorswim (desktop, web, and mobile). thinkorswim is a platform for advanced traders with customizable workspaces, Level II data, conditional orders, paper trading, live financial news, and advanced charting. | Aladdin software to keep track of investment portfolios for major financial institutions and offers BlackRock Solutions for financial risk management. |
| Customer Service and Support | 24/7 live customer service. | Client service provided, but specific details on responsiveness and support quality were not found in the provided context. |
| Mobile App Availability and Features | Schwab Mobile for everyday investing and trading. thinkorswim app for advanced traders. | Not available |
| Account Security Measures | 24x7/365 monitoring, Layered and risk-based security controls, Multi-factor authentication, "Schwab Security Guarantee" covers losses due to unauthorized activity. | Not available |
| Reputation and Regulatory Compliance | Charles Schwab has a reputation for integrity, low costs, and customer service. | Regulated by the Securities and Exchange Commission (SEC). |
| ESG Investing Options | Offers socially responsible investments. | Offers ESG (Environmental, Social, and Governance) investment options. |