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Charles Schwab vs Fidelity 2026

Jessica Inskip

Written by Jessica Inskip
Director of Investor Research

Jeff Anberg

Edited by Jeff Anberg
Senior Editor

Blain Reinkensmeyer

Reviewed by Blain Reinkensmeyer
Managing Partner

June 18, 2026
  Fact Checked
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Jessica Inskip Jessica Inskip
Director of Investor Research

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. Jessica focuses on investor education and brokerage industry research.

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Led by Jessica Inskip, Director of Investor Research, the StockBrokers.com research team collects thousands of data points across hundreds of variables. We evaluate features important to every kind of investor, including beginners, casual investors, passive investors, and active traders. We carefully track data on margin rates, trading costs, and fees to rate stock brokers across our proprietary testing categories.

Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on StockBrokers.com. Learn more about how we test.

Charles Schwab vs Fidelity raises a fair question: is the best overall broker automatically the right one for you? Not always. These are two of the strongest brokers I test, and after more than 15 years in retail brokerage, I held both to the same hands-on standard. I built the same options spread on each, ran identical stock and fund research, and worked through both education libraries.

Schwab is the most complete platform I've evaluated, with the best mobile app, the thinkorswim active trading suite, futures, and integrated banking, so it scales from a first fractional share to a complex options trade without ever feeling thin. Fidelity is right there with it as the research, education, and retirement leader, with fractional ETFs, automation, and a client-first cost structure that rejects payment for order flow and skips transfer fees. Schwab is the better all-around broker and home for active traders. Fidelity is the better long-term and retirement broker.

Charles Schwab vs Fidelity

Broker
Rating
"Best for"
Bullet Points
Overall Score
5.0/5
Best for being one platform that does it all
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Why we like it
Review

For most investors, the search for a great broker ends with Charles Schwab. Retaining the #1 Overall ranking in 2026, Schwab continues to set the industry standard. The broker uniquely balances scale with sophistication, offering both simplified mobile tools and the professional-grade thinkorswim platform. From buying a first fractional share to managing a multimillion-dollar estate, Schwab provides a platform tailored to every need, serving as the definitive operating system for modern wealth. Read full review

Pros
  • thinkorswim is the industry benchmark for professional-grade trading and charting.
  • Best in Class Research features actionable daily updates and deep fundamental data.
  • Top-tier education with webinars, videos, and courses.
Cons
  • No spot crypto trading (limited to ETFs and futures).
  • "Stock Slices" (fractional shares) are limited to S&P 500 companies.
  • Base margin rates are significantly higher than dedicated low-cost competitors.
Overall Score
5.0/5
Best for long-term investing, research, and retirement
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Why we like it
Review

Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app. Read full review

Pros
  • Excellent research and mobile app
  • Top-notch education
  • Decades of reliable client service
Cons
  • No dedicated mobile app for active trading

Fidelity vs Charles Schwab at a glance

Our testing put these two within a hair of each other, trading category wins back and forth. Fidelity leads on research, education, and everyday range, while Charles Schwab leads on its mobile app, its active trading platform, and integrated banking. The table shows where each one lands.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Overall 5/5 Stars 5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Advanced Trading 4.5/5 Stars 4/5 Stars
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures Trading Yes No
Crypto Trading No Yes

Top takeaways for Charles Schwab in 2026

  • thinkorswim is the deeper active trading platform, with 374 charting studies, native backtesting, and paper trading that Fidelity lacks.
  • Its mobile experience earned our #1 Mobile Trading Apps award, with a separate thinkorswim app for active traders.
  • Schwab pairs the brokerage with a full FDIC bank, plus futures, forex, and 24-hour trading on about 1,100 securities.
  • Its stock research is elite, anchored by the Schwab Equity Ratings report.
  • The gaps versus Fidelity could be deal breakers. Schwab offers no fractional ETFs, no IPO access, and no recurring auto-investing.

Top takeaways for Fidelity in 2026

  • The research and education are the deepest I test, and it holds our #1 awards in both.
  • It's built for long-term investing, with fractional ETFs, recurring auto-investing, and access to 25 international markets.
  • Active Trader Pro shows net Greeks and probability of profit right on the options ticket, which thinkorswim doesn't.
  • It's the better home for families, with a youth account, custodial accounts, and 529 plans.
  • The trade-offs: no futures, no paper trading, and no full-service bank attached.

Fidelity vs Charles Schwab: fees and commissions

On the headline numbers these two are nearly identical. Both charge $0 for stocks, $0.65 per options contract, and roughly 12.5% margin on smaller balances. We verified the incidental fees below, because that's where daylight shows.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee Varies Varies info
Options (Per Contract) $0.65 $0.65
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Futures (Per Contract) $2.25 (Not offered)
Broker Assisted Trade Fee $25 $32.95
Margin Rate Under $25,000 12.58% 12.575%
Bond Trade Fee $1 per bond ($10 min/$250 max) $1 per bond
IRA Annual Fee $0.00 $0.00
Account Transfer Out (Full) $50.00 $0.00

Where Fidelity wins on cost

Fidelity is a little cheaper around the edges. Over-the-counter and penny stocks trade free, where Schwab charges $6.95. Moving your account out is also free at Fidelity, while Schwab charges $50 for a full transfer. None of this is large, but for a cost-sensitive investor the small fees all tilt Fidelity's way.

Where Charles Schwab wins on cost

Schwab is the only one of the two that prices futures at all, at $2.25 per contract, since Fidelity doesn't offer them. That isn't a discount so much as access. If futures are part of your plan, the cheaper option between these brokers is the only option, and it's Schwab.

Verdict

Best for the lowest incidental fees: Fidelity.

Best for futures access in one account: Charles Schwab.

For nearly every investor this section is a tie. Fidelity edges ahead on OTC and transfer fees, and Schwab matters only if you need a product Fidelity doesn't carry.

Charles Schwab vs Fidelity: range of investments

Both brokers cover almost everything a U.S. investor could want, from mutual funds to bonds to a full account lineup. The differences sit at the two ends: the modern, automated tools on one side and futures and forex on the other.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Options Trading Yes Yes
Fractional Shares (Stocks) Yes Yes
Fractional Shares (ETFs) No Yes
Mutual Funds Yes Yes
Fixed Income (Treasurys) Yes Yes
Fixed Income (Corporate Bonds) Yes Yes
Fixed Income (Municipal Bonds) Yes Yes
Crypto Trading No Yes
Crypto Trading - Total Coins 0 5
Futures Trading Yes No
Futures Options Yes No
Forex Trading Yes Yes info
Prediction markets No No
IPO Access No Yes
Order Type - After Hours Yes Yes
Order Type - 24 hr Extended Yes No
Order Type - Broker Assisted Yes Yes

Where Fidelity wins

Fidelity is the stronger fit for the everyday long-term investor. It offers fractional ETFs and recurring auto-investing, neither of which Schwab supports, so you can dollar-cost average into funds on a schedule. It reaches 25 international markets to Schwab's 12, adds IPO access, and even lists a handful of cryptocurrencies. For families, the youth account and 529 plans seal it.

Where Charles Schwab wins

Schwab reaches markets Fidelity doesn't touch. It trades futures and forex through thinkorswim and runs 24-hour trading on around 1,100 securities, which matters if you react to overnight news. Its fractional-share program, Stock Slices, covers individual stocks, so between the two, Schwab is the broker for futures and round-the-clock equity trading.

Verdict

Best for everyday long-term investing: Fidelity.

Best for futures, forex, and 24-hour trading: Charles Schwab.

The split is about style. Fidelity wins the automated, buy-and-hold investor, and Schwab wins the trader who needs futures or trades around the clock.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Range of Investments 4.5/5 Stars 5/5 Stars

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Fidelity vs Charles Schwab: mobile apps

These are two of the best brokerage apps I test, and the difference is who they serve. Fidelity ships one polished app for the whole relationship. Schwab ships a flagship app plus a separate thinkorswim app for active traders. Our testing compared navigation, charting, and depth on each.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Stock Alerts Yes Yes
Mobile Watchlists - Column Customization Yes Yes
Mobile Watchlists - Create & Manage Yes Yes
Mobile Watchlists - Column Filtering Yes Yes

Where Fidelity's app wins

Fidelity built the best all-in-one app for everyday investors. Its discover tab blends short-form education and research into a feed designed for how people actually use a phone, and setting up recurring buys takes seconds. For checking your portfolio, learning something, and investing on a schedule, it's the smoother single app, and it earned our #1 Investor App award.

Learning center with social media like series

Fidelity’s mobile app makes learning on the go super easy with its “On Our Radar” videos which are quick social media style clips that cover everything from market trends to investing basics. They're short, smart, and actually fun to watch, making it simple to stay informed without feeling overwhelmed. It’s a great way to pick up insights in just a few minutes.

Where Charles Schwab's app wins

Schwab gives active traders a dedicated app in thinkorswim mobile, with full chains, chat rooms, and the custom charts you built on desktop. Its flagship app carries deeper market data too, including a daily Schwab Market Update. That two-app approach is why Schwab took our #1 Mobile Trading Apps award this year.

Schwab thinkorswim mobile screenshot cash secured put

Schwab’s thinkorswim options trade ticket on mobile features a trade calculator view with both a P/L diagram and detailed table analysis. In this example, a 30-day-to-expiration at-the-money (ATM) cash-secured put on AAPL is displayed, clearly showing limited profit potential capped at the premium received—regardless of how high the stock rises. The payoff diagram also illustrates the increasing downside risk, mirroring the risk profile of stock ownership and highlighting the neutral to bullish bias of this strategy.

Verdict

Best for an all-in-one investing app: Fidelity.

Best for active trading on the go: Charles Schwab.

Fidelity is the better daily app for most people. Schwab is the better choice if you want a true active-trader app in your pocket.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Mobile Trading Apps 5/5 Stars 4.5/5 Stars

Charles Schwab vs Fidelity: trading platforms and tools

Schwab's active platform is thinkorswim, on desktop, web, and mobile. Fidelity's is Active Trader Pro, on desktop and web. Both are serious tools, and the contrast comes down to charting depth versus options analysis. Apply a little platform scrutiny and they split cleanly.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Active Trading Platform thinkorswim info Active Trader Pro
Desktop Trading Platform Yes Yes
Web Trading Platform Yes Yes
Desktop Platform (Mac) Yes Yes
Paper Trading Yes No
Watchlists - Total Fields 580 92
Charting - Indicators / Studies 374 129
Charting - Drawing Tools 24 38
Charting - Adjust Trades on Chart Yes Yes
Charting - Custom Studies Yes No
Ladder Trading Yes No
Level 2 Quotes - Stocks Yes Yes
Trade Hot Keys Yes Yes
Trade Ticket - Margin Impact Yes No
Trade Ticket - Tax Lot Selection Yes Yes

Where Charles Schwab wins

Schwab gives the technical trader more to work with. thinkorswim carries 374 charting studies to Active Trader Pro's 129, plus a native backtester and paper trading that Fidelity doesn't offer. Its options statistics and earnings-analysis tool read order flow and implied moves at a depth Fidelity can't match. For charting, strategy testing, and rehearsing trades, thinkorswim is the deeper bench.

Desktop chart of U.S. unemployment rates alongside a live news feed and streaming headlines

This screenshot showcases a desktop chart of U.S. unemployment rates alongside a live news feed and streaming headlines, enabling traders to track macroeconomic trends in real time. Access to this level of economic insight helps investors connect data with market movement.

Where Fidelity wins

Fidelity wins the options ticket itself, which is where I grade hardest. When I built a multi-leg spread on Active Trader Pro, it showed the net Greeks and the probability of profit right on the order, and let me model price targets and IV from a built-in calculator. thinkorswim still won't show net Greeks as you build a spread, a longtime gripe of mine. For analyzing the trade in front of you, Fidelity is sharper.

Fidelity Trading Dashboard stock and market analysis

Fidelity’s trading dashboard brings everything together in one place. Here, I’ve linked SPY across all widgets for a seamless view. You can dive into options statistics, volatility indices, and my personal favorite: the trade breakdown activity, which gives great insight into how traders are positioning.

Verdict

Best for charting, native backtesting, and paper trading: Charles Schwab.

Best for multi-leg options analysis on the ticket: Fidelity.

Both platforms are excellent. Schwab is the deeper technical and active-trading tool, and Fidelity is the more precise options analyzer at the moment of the trade.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Advanced Trading 4.5/5 Stars 4/5 Stars

Fidelity vs Charles Schwab: research

This is the rare category where both brokers are near the top of the industry, so the split is about emphasis. Fidelity goes wide across funds, fixed income, and the macro picture, while Schwab goes deep on individual stocks. We checked both feature by feature below.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Research - Stocks Yes Yes
Screener - Stocks Yes Yes
Research - ETFs Yes Yes
Screener - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Screener - Mutual Funds Yes Yes
Research - Fixed Income Yes Yes
Screener - Fixed Income Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Options Chains - IV Yes Yes
Option Chains - Total Greeks 5 5
Strategy Net Greeks Yes Yes
Options - Strategy Builder No Yes

Where Fidelity wins

Fidelity has the broadest research I test. Its economic calendar is the one I reach for, because every release links to a plain explanation of why it matters, and its sector view maps all 11 sectors to phases of the business cycle. Add the deepest mutual fund and fixed income research of any broker here, and Fidelity is the stronger all-around research desk.

Economic calendar

Fidelity’s economic calendar is hands-down one of the best out there. It's clean, easy to navigate, and packed with useful info. It clearly highlights market-moving events for the week, so you know exactly what to watch. Tap on any item to get more context, making it a great tool for staying ahead of and understanding key economic events.

Where Charles Schwab wins

Schwab is the sharper tool for stock pickers. The Schwab Equity Ratings report grades a stock with a clear rationale and pairs it with third-party commentary explaining each call, and the trefis-powered fundamentals break down exactly what drives a company's revenue. For building and screening a stock thesis, Schwab gives you more to chew on.

Schwab

Schwab’s web-based stock screener stands out with advanced filtering tools that include forward-year P/E ratios, projected EPS growth, and revenue estimates—ideal for forward-looking investors. The platform allows users to screen for S&P 500 stocks based on future performance metrics, earnings surprises, and Schwab Analyst Ratings. Unlike many screeners that focus solely on historical data, Schwab helps investors identify high-potential opportunities based on forward projections.

Verdict

Best for funds, fixed income, and the macro picture: Fidelity.

Best for individual stock research: Charles Schwab.

You won't go wrong either way. Fidelity is the broader research library, and Schwab is the deeper stock-research toolkit.

Charles Schwab vs Fidelity: education

Both libraries are excellent, so this comes down to how you like to learn. Fidelity is the better-organized self-study experience, with a logical path through products and life events, structured courses, calculators, and progress tracking, which is why it holds our #1 Education and #1 Beginners awards. Schwab counters with live instruction. Its Schwab Coaching team runs around 30 webcasts a week alongside eight multi-hour courses, and the production quality on its videos is the best I've seen. Both are top-tier, so the deciding factor is whether you prefer to read at your own pace or learn live.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Fixed Income) Yes Yes
Videos Yes Yes
Webinars Yes Yes

Verdict

Best for beginners and structured self-study: Fidelity.

Best for live coaching and trader webcasts: Charles Schwab.

If you want a clear curriculum to work through on your own, Fidelity is the easier place to start. If you learn best from a live coach, Schwab's webcast schedule is unmatched.

Charles Schwab and Fidelity: accounts and banking

This is the cleanest split on the page. Schwab is a full bank as well as a broker, with FDIC-insured checking and savings, CDs, mortgages, and debit and credit cards under one login. Fidelity offers a cash management account, CDs, and cards, but no FDIC-insured checking or savings of its own, so it leans on partner banks for that coverage. Where Fidelity answers is the account lineup for families and small businesses, with its standout youth account, 529 plans, and the awards to match. Schwab is the better fit if you want true banking beside your brokerage, and Fidelity if you want the widest set of savings and family accounts.

Verdict

Best for banking under the same roof: Charles Schwab.

Best for family and education accounts: Fidelity.

Final thoughts on Fidelity vs Charles Schwab

Here's the honest take. Both of these brokers are complete enough to be the only account you ever open, which is what makes the choice so close. Schwab is the most well-rounded platform I test. Its mobile experience took our #1 Mobile Trading Apps award, thinkorswim gives serious traders room to grow, and integrated banking and futures round out a platform that scales from a first share to a complex position. If you want one place that does everything, Schwab is the easy choice.

Fidelity is every bit as complete, and it leads where long-term wealth is built. It holds our #1 Research award, its education and retirement tools are the best I test, and its fractional ETFs and recurring investing make hands-off investing effortless. Add a client-first cost structure that rejects payment for order flow, and Fidelity is the one I'd choose for long-term investors, retirement savers, and families.

Ultimately, you're choosing between excellent and excellent.

Jessica's take

"It's very hard to top the charting experience on thinkorswim. But Fidelity's Active Trader Pro answers where it counts for options, showing the net Greeks and the probability of profit right as you build the spread. Two elite platforms, two different strengths."

Jessica Inskip
Director of Investor Research

jessica_inskip_170.png

Overall verdict

Best for one platform that does it all: Charles Schwab.

Best for long-term investing, research, and retirement: Fidelity.

Feature Charles Schwab logoCharles Schwab
Fidelity logoFidelity
Overall 5/5 Stars 5/5 Stars
Range of Investments 4.5/5 Stars 5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Advanced Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 5/5 Stars
Education 5/5 Stars 5/5 Stars
Ease of Use 4.5/5 Stars 4.5/5 Stars

Frequently asked questions

Is Charles Schwab or Fidelity better for beginners?

Fidelity, in most cases. It holds our #1 Beginners award for good reason, with the clearest education, fractional ETFs, and recurring auto-investing that make starting small easy. Schwab is excellent too, but its standout tools lean toward active traders.

Does Fidelity or Charles Schwab have lower fees?

They're nearly identical. Both charge $0 for stocks, $0.65 per options contract, and similar margin rates. Fidelity edges ahead on incidental costs, with free over-the-counter trades where Schwab charges $6.95, and a free account transfer where Schwab charges $50.

Is Charles Schwab or Fidelity better for options trading?

It depends on your workflow. Schwab's thinkorswim has deeper charting and options statistics, but Fidelity's Active Trader Pro shows net Greeks and probability of profit on the order ticket, which thinkorswim doesn't. Both let you trade options spreads inside an IRA.

Does Charles Schwab or Fidelity offer futures or crypto?

Schwab offers futures and forex through thinkorswim, and it's expected to launch spot bitcoin and ethereum trading this year at a 0.75% fee on each trade's dollar value. Fidelity skips futures entirely but already lists a small set of cryptocurrencies. Neither is a crypto specialist.

Which is better for retirement and long-term investing?

Fidelity, narrowly. It took our #1 Retirement Accounts award, and its fractional ETFs, recurring investing, and youth and 529 accounts make it the stronger long-term and family choice. Schwab is a close second with an equally deep retirement lineup.

Which has the better app, Fidelity or Charles Schwab?

Both are top-rated. Fidelity won our #1 Investor App award for the best all-in-one experience, while Schwab won #1 Mobile Trading Apps and offers a separate thinkorswim app for active traders. Pick Fidelity for everyday investing, Schwab for active trading.

Our testing

Why you should trust us

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Bloomberg, The Schwab Network, Fox Business, and Yahoo! Finance, and hosts the Market MakeHer podcast.

Blain Reinkensmeyer, co-founder of StockBrokers.com, has been investing and trading for over 25 years. After having placed over 2,000 trades in his late teens and early 20s, he became one of the first in digital media to review online brokerages. Today, Blain is widely respected as a leading expert on finance and investing, specifically the U.S. online brokerage industry. Blain has been quoted in The New York Times, The Wall Street Journal, Forbes, and Fast Company, among others. Blain created the original scoring rubrics for StockBrokers.com and oversees all testing and rating methodologies.

How we tested

  • We used our own brokerage accounts for testing.
  • We collected thousands of data points across the brokers we review.
  • We tested each online broker's website, desktop platforms, and mobile app, where applicable.
  • We maintained strict editorial independence; brokers cannot pay for inclusion or a higher rating.

Our research team meticulously collected data on every feature of importance to a wide range of customer profiles, including beginners, casual investors, passive investors, and active traders. We carefully track variables like margin rates, trading costs, fees, and platform features and use them to help rate brokers across a range of categories measuring ease of use, range of investments, research, education, and more.

At StockBrokers.com, our reviewers use a variety of computing devices to evaluate platforms and tools. Our reviews and data collection were conducted using the following devices chosen to reflect the everyday hardware our readers are likely to be using rather than top-tier configurations: iPhone SE running the latest iOS version, MacBook Pro M1 with 8 GB RAM running the current MacOS, and a Dell Vostro 5402 laptop i5 with 8 GB RAM running Windows 11 Pro.

Each broker was evaluated and scored on over 200 different variables across seven key categories: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. Learn more about how we test.

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About the Editorial Team

Jessica Inskip

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Fox Business, and Bloomberg, and hosts the Market MakeHer podcast.

Jeff Anberg

Jeff Anberg is a Senior Editor at StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

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