Best Brokerage Firms for High Net Worth Individuals of April 2024
Though there’s no clear-cut definition, “high net worth investors” in the financial services world are usually defined as households with over $1 million of liquid, investable assets. Brokerage firms compete hard for their business by offering better borrowing rates, attractive incentives, lower fees, reward programs, and more personalized service.
The best brokerage firms for high net worth households have extensive and consolidated reporting, a wide range of account types, and a rich palette of investment options to manage the often complicated financial risks wealthy people often face. I evaluated the service models for high net worth investors, interviewed senior brokerage executives, and reviewed the educational content to ensure important financial planning topics such as estate planning, educational funding, Medicare, and gifting are covered adequately. Here are my top picks.
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Best Brokers for High Net Worth Individuals
- Charles Schwab - Best for high net worth investors
- Merrill Edge - Best rewards program
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Fidelity
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Interactive Brokers
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E*TRADE