When it comes to saving for retirement, Roth IRAs are an excellent option for many investors. These tax-advantaged accounts allow you to contribute after-tax dollars and enjoy tax-free growth and withdrawals in retirement. However, not all Roth IRAs are created equal. In this article, we’ll compare two popular options, mameriprise vs fidelity roth, to help savvy investors make an informed decision.
Background on Mameriprise and Fidelity Roth
Mameriprise is a financial services company that offers a range of products, including Roth IRAs. They have been in business for over 120 years and have over 2 million clients. Mameriprise Roth IRAs are known for their comprehensive financial planning services and personalized investment advice.
Fidelity Roth is a division of Fidelity Investments, one of the largest and most respected investment firms in the world. Fidelity offers a range of investment products, including Roth IRAs. Fidelity Roth IRAs are known for their low fees, broad investment options, and user-friendly online platform.
Mameriprise vs Fidelity Roth: Fees
When it comes to fees, both Mameriprise and Fidelity Roth offer competitive pricing. Mameriprise charges a $20 annual account fee, while Fidelity Roth has no annual account fee. Mameriprise also charges a $49.95 transaction fee for mutual fund trades, while Fidelity Roth charges no transaction fees for their mutual funds. However, Fidelity Roth charges a $4.95 commission for online equity trades, while Mameriprise charges $6.95 per equity trade.
Investment Options
Both Mameriprise and Fidelity Roth offer a range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). Mameriprise offers over 4,000 mutual funds and over 1,000 ETFs, while Fidelity Roth offers over 3,500 mutual funds and over 1,800 ETFs. Mameriprise also offers individual stocks and bonds, while Fidelity Roth offers no-transaction-fee mutual funds.
Account Minimums
Mameriprise requires a $100 minimum initial investment to open a Roth IRA account, while Fidelity Roth has no minimum initial investment requirement. Mameriprise also requires a $100 minimum subsequent investment for mutual funds and a $500 minimum subsequent investment for individual stocks and bonds. Fidelity Roth has no minimum subsequent investment requirement.
Customer Service
Both Mameriprise and Fidelity Roth offer excellent customer service options. Mameriprise has a team of financial advisors who can provide personalized investment advice and comprehensive financial planning services. They also have a mobile app that allows you to manage your account on the go. Fidelity Roth has a user-friendly online platform and a team of investment professionals who can provide guidance and support. They also offer a mobile app for account management.
FAQ
Does Fidelity have a good Roth IRA?
Yes, Fidelity is known for having a good Roth IRA option. They offer low fees, a broad range of investment options, and user-friendly online tools. Fidelity also has a strong reputation for customer service and support.
Does Fidelity own Ameriprise?
No, Fidelity does not own Ameriprise. They are two separate companies in the financial services industry.
How does Ameriprise rank as a financial advisor?
Ameriprise is generally well-regarded as a financial advisor. According to a 2020 J.D. Power study, Ameriprise ranked second among full-service financial advisory firms for customer satisfaction. However, it’s important to note that rankings can vary based on individual experiences and needs.
Is Ameriprise a good brokerage firm?
Ameriprise is a reputable brokerage firm that has been in business for over 120 years. They offer a range of investment products, including Roth IRAs, and are known for their comprehensive financial planning services and personalized investment advice. However, as with any financial institution, it’s important to do your research and consider factors such as fees, investment options, and customer service before choosing a brokerage firm.
Final Verdict
Overall, both Mameriprise and Fidelity Roth are excellent options for savvy investors who are looking for a Roth IRA account. Mameriprise is a great choice for those who want personalized investment advice and comprehensive financial planning services. Fidelity Roth is an excellent option for those who want low fees, a user-friendly online platform, and a broad range of investment options. Ultimately, the best choice will depend on your individual needs and investment goals.
