Best Places to Invest Money | Financial Planning

We judge advice and brokerage service at major financial companies

Consumer Reports magazine: February 2012

Deposit $75,000 or more into a new or existing brokerage account at Charles Schwab and you could be eligible for a new Android smart phone. Move your money to TD Ameritrade and get 60 days of commission-free online trading and a possible bonus of up to $600. Bank of America's Merrill Edge has up to $500 waiting for anyone opening a new IRA.

At Fidelity and Schwab, clients can get a complimentary investment plan created by a financial adviser. Merrill Edge has a similar offer for clients with less than $250,000 in "investable assets"—stocks, bonds, and mutual funds, for instance. Establishing, transferring, or rolling over $100,000 or more to T. Rowe Price entitles you to a free asset-allocation plan and savings or income analysis prepared by an advisory counsel under the supervision of a certified financial planner. Vanguard offers a free plan by a CFP if you transfer or roll over at least $100,000.

Whether you're a seasoned investor, a newbie, or someone retesting the waters after a scary loss, financial-services companies want your business. But aside from potential incentives, what will you get for moving your accounts? Is the service up to par? Is even free advice worth your time?

We investigated what financial-services companies are really providing to their customers. Subscribe to ConsumerReports.org to read our full review of advice and brokerage service at major financial companies.

Sign In or Subscribe to read full article and see Ratings

FREE e-mail Newsletters!
Choose from safety, health, cars, and more!

Already signed-up?
Manage your newsletters here too.

Where to put your money

We judge advice and brokerage service at major financial companies

Sign In or Subscribe to read full article and see Ratings

E-mail Newsletters

Connect

Follow us on:

Mobile

ConsumerReports.org

Consumer Reports Network