The largest investment companies in the world own trillions in assets.

When you first start investing, figuring out which brokerage to pick can be a challenge. Before you open an account, it’s worth looking at the biggest brokerage companies and identifying what makes these companies unique.

The following companies have more than $1 trillion in assets under management. With so much money at these brokerages, most seem to be doing something right.

Keep in mind that not all of these companies are discount brokerages. Some specialize in workplace retirement plans and others are full-service brokerages that charge high fees. These are the top 10 brokerages based on their assets under management and/or assets under advisement.

Related: Top Brokerages To Invest Your Money In 2026

1. Fidelity

Fidelity famously became the first company to offer a no-fee index fund to accompany its already no-commission trading fees, and other services that investors love. With its myriad of low and no-cost products, Fidelity manages to offer a great website, offering services like a Robo-advisor and socially oriented investments.

Thanks to its focus on low fees and customer service, Fidelity has more than $17.5 trillion in assets under administration, with $6.8 trillion directly under management..

2. BlackRock

BlackRock is the country’s largest brokerage firm specifically assets under management - having $14.04 trillion in assets under management at the end of 2025. BlackRock is famous for its iShares funds (also called SPDR funds) which are some of the lowest-cost ETFs available on the market. Robo Advisors rely heavily on BlackRock funds due to the quality of index tracking and the company's low costs.

While you can buy iShares through most brokerage companies, BlackRock also allows you to open retirement accounts, brokerage accounts, and 529 accounts. It supports a range of investment options with commission-free trades and low costs on ETFs and mutual funds.

Related: Why Do People Say BlackRock Owns Everything?

3. Vanguard

Vanguard was founded by John Bogle, who championed low-cost investing philosophies. Bogle was a pioneer of low-cost index funds, which is a portfolio of stocks or bonds, which gives you a more diverse way to invest than if you were buying individual stocks. Vanguard offers both actively managed and passive index funds.

The company, which is headquartered in Valley Forge, Pennsylvania is now managing over $12 trillion in assets under management (as of November 30, 2025).

4. Charles Schwab

With $11.9 trillion in assets under management at the end of 2025, Charles Schwab is a consistent leader for “retail investors.” This is the group that may want access to low-cost funds, some trading capabilities, insights from leading investors, and great investing technology.

The company offers automated investing through Intelligent Portfolios, socially responsible investment options, and all manner of retirement, education, and brokerage accounts.

5. Morgan Stanley (E*TRADE)

Morgan Stanley was another company known for its high-fee, high-touch service, but the company made a bid at the discount market by acquiring E*TRADE in late 2020. E*TRADE is best known for its low and no-cost trading platform. It gives users the ability to open multiple accounts including education accounts, retirement accounts, and regular brokerage accounts.

The E*TRADE solo 401(k) account is consistently ranked as a favorite due to the ease of opening, funding, and transacting in the account.

With the acquisition of E*TRADE, Morgan Stanley now has $9.3 trillion in client assets with $1.8 trillion in assets under management.

6. UBS Global Wealth Management

UBS Global Wealth Management is one of the world's largest wealth manager, serving primarily high-net-worth and ultra-high-net-worth investors.

The firm oversees roughly $7 trillion in invested assets across its wealth management business and offers portfolio management, estate planning, lending, and alternative investments.

UBS expanded its presence in the United States through its acquisition of Credit Suisse, which added clients and advisors to its already large global network.

7. JP Morgan Chase

A favorite amongst the personal finance community, Chase is known for its above average credit card rewards and lucrative checking sign-up bonuses.

The company holds $7.1 trillion in client assets and has more than $4.8 trillion in assets under management for its clients. While most of J.P. Morgan Chase’s products are targeted to high net worth individuals, the company’s self-directed investment option offers commission-free trade, retirement accounts, fractional shares, and other perks for investors.

8. Goldman Sachs

Founded in 1869, Goldman Sachs is the world's second largest investment bank by revenue. The company specializes in advisory services for mergers and acquisitions and restructuring, personal wealth and investment management, and more.

Goldman Sachs has a total of 3.61 trillion in assets under supervision at the end of 2025. According to Goldman Sachs, assets under supervision "includes assets under management and other client assets for which Goldman Sachs does not have full discretion."

9. Edward Jones

With more than $2.5 trillion in assets under management, Edward Jones Investments is the first company on this list that doesn’t have a discount component. Investors who choose Edward Jones primarily work through the company’s financial advisors who guide investors toward the right mix of investments.

Compared to most companies listed here, Edward Jones has high fees, and the service you receive varies depending on the quality of your financial advisor. If you’re happy with your Edward Jones investment advisor, it may be worth keeping your investments at the company despite the high fees. However, investors who are less satisfied may want to consider a new financial advisor through Empower or Wealthfront Advisory Services.

10. Bank of America

Bank of America’s Global Wealth and Investment Management (GWIM) division includes both Merrill and the Bank of America Private Bank. Together, these businesses oversee more than $2.2 trillion in client balances, offering advisory services, brokerage accounts, and financial planning.

Merrill provides investment tools and advisor-led portfolios for individuals with a wide range of assets, while the Private Bank focuses on ultra-high-net-worth households and institutions. Through its connection with Bank of America’s broader banking platform, clients can access integrated lending, banking, and investment services in one place.

Are Bigger Brokerages Better?

In general, we don’t recommend apps or brokerages with less than $1 billion in assets, because the companies are too likely to be acquired. Mergers and acquisitions tend to lead to decreased quality of customer service, at least during the transition. So that’s why we believe the size of the brokerage matters.

For brokerages that are growing, once it reaches a certain size, the company can serve the most common investment needs, and provide a differentiated experience based on its strengths. Most of the brokerages on this list offer a mix of high and low-cost products and they serve a variety of clientele.

Why Some Of Our Favorite Brokerages Didn't Make The List

Some of our favorite investment companies (such as Wealthfront and M1Finance) just didn't quite make the cut. Both of these companies have less than $50 billion in assets under management. Despite their relatively small scale (at least compared to companies with trillions under management), we respect these contenders in the space.

If you’re interested in finding the best free investing apps, check out this article. It includes several companies that manage billions rather than trillions in assets.

These companies manage to scale using technology which keeps costs low for investors and provides a great investment experience too.