I think Schwab's customer services is better-- they usually seem more knowledgable and competent but I have had good and bad experiences with both.

Schwann is better if you want to trade actively, Vanguard is better for set it and forget it.

Anonymous wrote:It depends in part on what you intend to use it for.

+1

Stupid question I guess.
Can you open one yourself or you need to go to financial advisor for it?

It depends in part on what you intend to use it for. Vanguard does not have a banking option like Schwab does, and Schwab's is excellent (no ATM fees). In terms of investing, probably nearly identical -- you can go to a Schwab branch and some people like to do that, and they have personal planners you can meet with. Vanguard is all online though you can also get the exact same services just not in person. As someone else mentioned, the service at Vanguard is awesome, if only something like a cable company could copy them . . . .

If you plan to invest in Vanguard funds then go with Vanguard. If you plan to invest in other things, esp lots of different things, then go with Schwab.

There’s definitely a Vsnguard guy on this board, always promoting it. He probly works for them

Anonymous wrote:I have both, for diversity, but like Vanguard better. it's website is easier to use, customer service is outstanding, and its ownership structure is more appealing.

"Its" website

I have both, for diversity, but like Vanguard better. it's website is easier to use, customer service is outstanding, and its ownership structure is more appealing.

go with whichever has the lower fee. i suspect vanguard but not always. in terms of services and offering, no real difference.

Thry are both fine. I have accounts at both. I think Schwab is particularly good for young people because they have $1 minimums to open accounts, whereas some of Vanguards require $1000 or $3000. Schwab also has very low ERs on their Target Date Index funds; .03 vs Vanguards .08 (which obviously is still very good)

Schwab exists to make for its owners, the stockholders in SCHW.

Vanguard exists to make money for its owners, the people who invest in Vanguard funds.

Anonymous wrote:Yes

What are the differences?

Yes

Is one better than the other?