Top brokers for high net worth investors
Best broker for high net worth investors - Fidelity
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Fidelity
|
$0.00 |
$0.00 |
$0.65 |
Thanks to its standout charitable giving and philanthropic services, Fidelity Investments takes the top spot as the best broker for high-net-worth investors. With the Fidelity Charitable Giving Account, investors can donate appreciated assets, qualify for income tax deductions, and reduce capital gains, all while letting their balances grow tax-free. Why does this matter? Because when you’ve built significant wealth, taxes become a real consideration.
Philanthropic services: For those looking to take their legacy and philanthropy further, Fidelity Philanthropic Consulting offers personalized guidance to align charitable contributions with personal values and long-term financial goals. In my view, Fidelity goes above and beyond with solutions designed to preserve wealth for generations. Its custom wealth management services ensure a seamless transition of assets, keeping investors in control of their financial legacy in an intentional way.
Fixed-income offerings: Fidelity's fixed-income offerings are also among the most comprehensive in the industry, with access to brokerage CDs, corporate bonds, municipal bonds, and U.S. Treasuries. High-net-worth investors will appreciate tools like auto CD laddering for portfolio diversification and the ability to participate in Treasury auctions and secondary market trading which are all accessible online for seamless management.
Tax management: White-glove service is a given at this level, and Fidelity delivers with a dedicated team of highly trained specialists. But it’s the little things that stand out, like the ability to adjust tax lots directly on the platform or move assets seamlessly between accounts. Managing wealth at this level can be complex, but Fidelity makes sure it stays effortless. Discover more about its overall offering at my Fidelity review.
Best for premium services & exclusive perks- Merrill Edge
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Merrill Edge
|
$0.00 |
$0.00 |
$0.65 |
Backed by Bank of America, Merrill Edge Self-Directed offers VIP-level wealth management that extends across your entire financial ecosystem. Whether you’re investing, borrowing, or managing cash reserves, Merrill has solutions that go beyond the typical brokerage experience. And when I say top-tier, I mean celebrity-level service, the kind of access usually reserved for ultra-high-net-worth individuals.
Premium services: For self-directed investors, the key differentiator is Merrill’s Premium Elite Services. You get a dedicated, highly trained senior representative assigned to your household. This is someone who knows the markets, can assist with complex trades, and ensures you skip the wait times for any customer service needs. In the world of self-directed investing, this level of personalized support is rare, and it makes a difference.
Preferred Rewards: Then there’s Merrill’s Preferred Rewards and Preferred Deposit programs, which unlock serious perks for high-net-worth investors. This means higher interest rates on deposits, lower borrowing rates, and access to their Preferred Deposit program, which offers a competitive 3.67% APY (as of February 6th, 2005) on cash balances of $100,000 or more. Need even more flexibility? Merrill also provides access to institutional-grade floating-rate money market funds, which can be a smart option for liquid assets, though they come with a bit more risk. Learn more by reading my Merrill Edge review.
Best trading platform – Charles Schwab
| Company |
Minimum Deposit |
Stock Trades |
Options (Per Contract) |
 Charles Schwab
|
$0.00 |
$0.00 |
$0.65 |
Charles Schwab isn’t just a top brokerage for high-net-worth investors, it’s my pick for #1 Overall Broker for 2025. Schwab delivers expert wealth management, estate planning, and personalized trust services to help investors protect and grow their wealth and their legacy.
Charitable giving: For charitable giving, Schwab’s donor-advised fund offers a tax-smart way to support causes now or in the future. These accounts are designed for donating highly appreciated assets while maximizing tax benefits. But what really sets Schwab apart is Schwab Personal Trust Services, which provides expert investment management, administration, and dedicated client support to help safeguard and manage your wealth.
Intelligent Portfolios: One of Schwab’s unique offerings is its Intelligent Portfolios Premium, a robo-advisor service providing unlimited access to Certified Financial Planners (CFPs) for a low $30 monthly fee (and a one-time $300 planning cost). This is a competitive option compared to independent CFPs, who can charge upwards of $250 per hour. Schwab's broad suite of financial services also includes a wide range of account types, from IRAs (check out our Charles Schwab IRA review) and 529 plans to estate accounts, ensuring that all investors' needs are covered.
Schwab also offers various other products offering high-net-worth support, trust accounts, tax lot optimization, and estate planning resources. Read my Charles Schwab review to learn more.
FAQs
Which is the best broker for high net worth investors?
After testing 16 of the best brokers in the industry, we found that Fidelity is the best broker for self-directed high net worth investors. Its comprehensive suite of tools, superior fixed-income offerings, and client-focused innovations make it an ideal platform for those managing larger, more complex portfolios.
What is considered a high net worth investor?
Within the online stock brokerage industry, a high net worth individual (HNWI) is generally defined as someone who has liquid financial assets exceeding a certain threshold, typically ranging from $1 million to $5 million (in some cases, up to $10 million). However, the exact amount may vary depending on the brokerage, country, or market segment.
Where do high net worth individuals invest?
High net worth individuals usually have diversified portfolios of a variety of investments. They are typically less concerned about growth and more concerned with maintaining their purchasing power, minimizing taxes, and preserving their assets.
Is it safe to keep more than $500,000 in a brokerage account?
It’s likely safe, but it’s not optimal. The maximum coverage offered by the Securities Investors Protection Corporation is $500,000 per individual, of which a maximum of $250,000 can be cash. Some brokerages can automatically sweep cash balances into several FDIC insured accounts at partner banks.
Our testing
Why you should trust us
Jessica Inskip, Director of Investor Research at StockBrokers.com, has been immersed in the world of finance since 2009, accumulating over 15 years of expertise in the field. Jessica's insights have made her a sought-after guest and commentator at financial outlets such as CNBC, Fox Business, and Yahoo Finance. Passionate about demystifying the intricacies of the stock market, Jessica also 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 multiple data points for each broker.
- We tested each online broker's website 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 features with particular importance to those saving for retirement, such as trading costs, management fees, availability of fee-free funds, ease of website and app use, and retirement planning tools and resources.
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: iPhone SE running iOS 17.5.1, 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 in seven key categories: retirement account types, IRA fees, self-directed investment options, managed investment options, retirement planning tools, rollover experience, and ease of use.
Charles Schwab
Interactive Brokers
Fidelity
E*TRADE
Merrill Edge
TradeStation
tastytrade
eToro
