How happy are investors with the brokerages they use? A report from J.D. Power has some answers.
The J.D. Power 2025 U.S. Self-Directed Investor Satisfaction Study is based on responses from more than 7,800 advised and more than 3,700 DIY investors. This year’s study is redesigned to evaluate how these investors rate their experiences with wealth management firms.
According to J.D. Power, fintech innovations — which include gamified investing apps, robo advice and artificial intelligence — just aren’t cracking it for many DIY investors who are now turning more to professional financial advisors in light of a rocky economy.
The study also finds that investors are seeking ease of doing business.
“It is no longer enough to have a brand legacy or an array of products and services; a company must deliver value and make the experience easy for investors,” says Kapil Vora, senior director of wealth intelligence at J.D. Power.
Let’s see which brokerages DIY investors and advised investors were most — and least — satisfied with.
The best brokerages, according to DIY investors
The average customer satisfaction rating for DIY investors was 676 out of 1,000 points. Here are the three firms that managed to surpass it:
- Vanguard: 704 out of 1,000
- Fidelity: 703
- T. Rowe Price: 691
How DIY investors rate other brokerages
While some brokerages outperformed — others fell below the average for DIY Investors:
- Acorns: 673 out of 1,000
- Stash: 669
- J.P. Morgan Wealth Management: 664
- Charles Schwab (includes former TD Ameritrade): 661
- Merrill Edge: 656
- E*Trade from Morgan Stanley: 655
- Robinhood: 655
- TIAA: 654
- WellsTrade: 637
The best brokerages, according to advised investors
The level of satisfaction felt by advised investors in 2025 is 714 out of 1,000, beating the average satisfaction score for DIY investors.
The brokerages that scored at or above average for these investors are:
- Raymond James: 748 out of 1,000
- U.S. Bank: 738
- Edward Jones: 734
- Ameriprise: 728
- Morgan Stanley: 727
- J.P. Morgan Wealth Management: 725
- Vanguard: 721
- PNC: 717
- TIAA: 716
- UBS: 716
- Fidelity: 714
How advised investors rate other brokerages
Advised investors ranked these brokerages below the average of 714 out of 1,000:
- LPL Financial: 709
- Stifel: 709
- Wells Fargo Advisors: 709
- Citi: 707
- Northwestern Mutual: 701
- Charles Schwab (includes former TD Ameritrade): 700
- Merrill: 700
- Mass Mutual: 686
- Prudential: 686
- Equitable: 681
- T. Rowe Price: 679
- Truist: 678
- Lincoln Financial Group: 671
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