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Best IRA Account Providers Of 2024

Explore the top IRA providers offering competitive features, flexibility, and exceptional investment options for maximizing your retirement savings
Written by
Grace Lemire
Last Update on Jan 10, 2024

Preparing for a secure and prosperous retirement requires more than just good intentions—it demands choosing the right IRA provider to optimize your long-term savings strategy. 

In this article, we delve into the world of Individual Retirement Accounts (IRAs) to unveil the leading providers that offer a potent combination of low fees, diverse investment options, user-friendly platforms, and top-notch customer service. Get ready to embark on a journey toward a brighter financial future, where your retirement dreams can become a reality.

IRA ProviderRatingBest For…Account TypesFeesCustomer Service
Betterment4.8Hands off, socially responsible investing portfoliosTraditional IRA, Roth IRA, SEP IRA0.25% annual advisory feeOnline chat, phone
Charles Schwab4.6In-person retirement planningTraditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRANo trading commissionsPhone, live chat
Fidelity Investments4.9Beginner investors that want a robo-advisorTraditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRANo trading commissions24/7 phone line, email, live chat
SoFi Automated Investing3.5Free financial planningTraditional IRA, Roth IRA, SEP IRAHigh expense ratios24/7 chat bot, live chat during work hours, phone
TD Ameritrade4.8Beginner investors that want a self-directed portfolioTraditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRANo trading commissions24/7 phone, text, fax, live chat, email, and social media support
Vanguard Digital Advisor4Automated IRA managementTraditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA0.15% feePhone
Best for Hands off, socially responsible investing portfolios

Betterment

4.8
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, SEP IRA
Extra Perks
Balances over $100,000 get access to unlimited consultations with Betterment financial advisors.
Customer Service Options
Online chat, phone
Unique Features
Financial coaching
Fees
0.25% annual advisory fee
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Betterment offers several IRA options, low fees, and an optional robo advisor. You’ll need $10 to start investing, although there is no account minimum.

Unlike some competitors, Betterment also offers socially responsible investing portfolios.

Fees:

  • 0.25% annual advisory fee

Pros:

  • Low fees
  • No account minimum
  • SRI portfolios
  • Optional financial coaching
  • Tax-loss harvesting is a standard feature

Cons:

  • Financial coaching is $299 for a 45-minute call, which might be out of budget for some
  • No SIMPLE IRA or Rollover IRA offered
Additional Details

Betterment offers optional financial coaching calls for $299 for a 45-minute session. During the call, you can ask questions about how to optimize your portfolio. Premium customers get this service for free.

Best for In-person retirement planning

Charles Schwab

4.6
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA
Extra Perks
Exceptional customer service
Customer Service Options
Phone, live chat
Unique Features
In-person branch locations
Fees
No trading commissions
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Charles Schwab offers a variety of IRA options, with no trading commissions or account minimums. They also have an extensive network of in-person branch locations, which is ideal for people who’d prefer to meet in person with a financial professional to discuss retirement planning.

Fees:

  • No trading commissions
  • Each mutual fund and index fund has its own expense ratio.

Pros:

  • No account minimums
  • In-person branch network
  • No account minimum
  • Large selection of investment options
  • Several IRA account types offered

Cons:

  • You’ll need $100 to start investing.
Additional Details

Charles Schwab offers an optional Schwab Intelligent Portfolio, a fee-free investment management service. The account requires a $5,000 balance to get started, and you’ll be required to keep 10% of your assets in cash. However, the service is completely hands-off, which is ideal for people who’d prefer to “set it and forget it.”

Best for Beginner investors that want a robo-advisor

Fidelity Investments

4.9
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA
Extra Perks
Variety of educational resources
Customer Service Options
24/7 phone line, email, live chat
Unique Features
Commission-free mutual funds and index funds
Fees
No trading commissions
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Fidelity offers a variety of IRA account options, complete with low to no fees, strong customer service, and a learning center designed to teach you the ins and outs of investing.

They also offer a robo-advising platform called Fidelity Go, which is ideal for customers that would prefer a hands-off approach to investing.

Fees:

  • No trading commissions

Pros:

  • Offers four index funds with no expense ratio
  • No account minimum
  • User-friendly mobile app
  • Variety of educational resources

Cons:

  • No access to other currencies, like crypto, which may be a downside for some
Additional Details

Fidelity’s Learning Center is ideal for new investors. It’s jam packed with blog articles, videos, and quizzes designed to teach you about nearly everything related to investing.

Free financial planning

SoFi Automated Investing

3.5
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, SEP IRA
Extra Perks
Free unlimited access to a team of Certified Financial Planners
Customer Service Options
24/7 chat bot, live chat during work hours, phone
Unique Features
Automated investing
Fees
High expense ratios
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SoFi Automated Investing is a robo-advising platform, designed to make investing simple and hands-off. However, it’s known for its high expense ratios, which isn’t ideal. SoFi creates portfolios with their proprietary ETFs, which previously had 0.19% expense ratios. While they’ve waived those fees on some of their funds, you’ll need to be careful about which funds you’ve invested in so you don’t get caught paying extreme fees.

Fees:

  • High expense ratios (some around 0.19%)

Pros:

  • Hands-off investing
  • Free financial planning

Cons:

  • High expense ratios
  • Proprietary funds hold fewer assets
Additional Details

Customers receive free unlimited access to a team of certified financial planners. You can meet with them by phone or video appointments during standard working hours.

Best for Beginner investors that want a self-directed portfolio

TD Ameritrade

4.8
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA
Extra Perks
Variety of educational resources
Customer Service Options
24/7 phone, text, fax, live chat, email, and social media support
Unique Features
4,000+ no-transaction-fee mutual funds
Fees
No trading commissions
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TD Ameritrade is perfect for new investors. They offer strong customer service, a user-friendly platform, and a variety of educational resources including in-person workshops and virtual webcasts.

They also have over 170 branch locations throughout the United States. Customers can meet in-person with a TD Ameritrade consultant to discuss retirement planning.

Fees:

  • No trading commissions

Pros:

  • No account minimum
  • User-friendly platform
  • Large selection of investments
  • Strong customer service
  • Optional in-person meetings

Cons:

  • No fractional shares
  • No access to cryptocurrencies
Additional Details

While TD Ameritrade previously offered Investment Management portfolios, they are no longer accepting new clients. They are currently referring people interested in a managed portfolio to Charles Schwab.

Best for Automated IRA management

Vanguard Digital Advisor

4
★★★★★ ★★★★★ ★★★★★
Account Types Offered
Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA
Extra Perks
Option to upgrade to Vanguard Personal Advisor Services for additional benefits
Customer Service Options
Phone
Unique Features
Lower management fee than some competing robo-advisors
Fees
0.15% fee
Show More Details

Vanguard offers two robo advisor options, one of which being a pure robo-advisor option called Vanguard Digital Advisor. The service charges a 0.15% fee and has an account minimum of $3,000.

Fees:

  • 0.15% fee

Pros:

  • Lower fees than some competing robo-advisors
  • Simple investment approach
  • Low expense ratios

Cons:

  • Higher account minimum than some competitors
  • Doesn’t include access to human advisors
  • No ESG or tax-loss harvesting options
Additional Details

Vanguard’s offering is solid, but it doesn’t have ESG or tax-loss harvesting options.

Grace Lemire is a full-time content writer and part-time social media creator with a passion for helping people navigate life's toughest financial decisions – from moving out of your parents' house to buying a home.