Data as of Oct 7, 2026A topic in Retirement Account Rollovers & IRAs.
Reviewed by Dimitry Apollonsky
Mentioned in · Jul 6 – Oct 7, 2026
ChatGPT SearchOct 7, 2026
For a small-business owner starting a SEP IRA, I’d put Fidelity first, with Charles Schwab a very close second. Vanguard is excellent for low-cost investing but is less compelling if your priority is the easiest overall setup and administration.
| Brokerage | Setup / admin | Ongoing account fees | Low-cost investments | Best for |
|---|---|---|---|---|
| Fidelity | ⭐⭐⭐⭐⭐ | $0 | ⭐⭐⭐⭐⭐ |
Google AI ModeSep 20, 2026
I need to set up a SEP IRA for my small business. Can you recommend a provider that keeps costs low and makes the enrollment process easy?
Which investment platforms are recommended for small business owners starting a SEP IRA who prioritize low fees and an easy onboarding experience?
| Best overall |
| Charles Schwab | ⭐⭐⭐⭐ | $0 | ⭐⭐⭐⭐⭐ | Great alternative, especially for service |
| Vanguard | ⭐⭐⭐ | Low | ⭐⭐⭐⭐⭐ | Vanguard-fund-focused investors |
| E*TRADE | ⭐⭐⭐⭐ | Low/$0 | ⭐⭐⭐⭐ | Good all-around alternative |
Fidelity Investments is particularly attractive for a solo business owner because Fidelity says its SEP IRA has no account fees or minimum to open, can be opened online in minutes, and supports online employer contributions. It also handles the administrative simplicity of a SEP—there are generally no annual IRS plan filings.
Investment choices are excellent: you can buy stocks, bonds, ETFs and mutual funds, including very low-cost index funds. Fidelity also has zero-expense-ratio index funds, which is a notable advantage if you're building a simple, inexpensive portfolio.
If you don't want to manage investments yourself, Fidelity Go is another option, although its advisory fee becomes 0.35% annually once the balance reaches $25,000.
Charles Schwab also charges $0 to open or maintain a SEP IRA, with a $0 minimum. It offers $0 online commissions for listed stocks and ETFs and a very broad selection of commission-free ETFs and no-transaction-fee mutual funds.
One advantage Schwab has over Fidelity is physical branch access and 24/7 customer service, which can be useful if you'd rather have someone walk you through something.
If your goal is simple + diversified + very low cost, you don't need a complicated portfolio. At Fidelity or Schwab, I'd generally consider something along these lines:
The important distinction is that the brokerage's $0 account fee isn't the same thing as the investment's expense ratio. You want both to be low.
If you're self-employed with no employees other than possibly a spouse, don't automatically assume a SEP IRA is your best choice. A solo/self-employed 401(k) can sometimes allow substantially more favorable contribution flexibility because you can contribute in both an employee and employer capacity. Fidelity, for example, specifically positions its self-employed 401(k) for owner-only businesses.
Bottom line:
Fidelity SEP IRA = my default recommendation for easiest setup + $0 account costs + excellent low-cost investment choices. Schwab is essentially tied if you value customer service/branches more. Vanguard is attractive if you're already committed to Vanguard's funds, but I'd choose Fidelity for the overall small-business experience.
If you tell me (1) whether you're a sole proprietor/LLC/S-corp, (2) whether you have employees, and (3) roughly how much you expect to contribute, I can also compare SEP IRA vs. Solo 401(k) for your situation—which may be the more important decision.
When setting up a SEP IRA as a small business owner, the top traditional brokerages—Fidelity, Charles Schwab , and Vanguard —all share $0 online setup fees and $0 commissions on stock/ETF trades. However, they differ slightly in ease of setup, cash management, and low-cost investment choices.
The top choice for the easiest setup and best overall experience is Fidelity Investments , closely followed by Charles Schwab and Vanguard.
To help narrow down the ideal choice, let me know:
