T.RowePrice-Some important Details about This Broker

T.RowePrice |

1643191063000

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Abstract：Founded in 1937, T.Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, advisory services, account management, and retirement plans and services for individuals, institutions, and financial intermediaries.

　　General Information

　　Founded in 1937, T.Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, advisory services, account management, and retirement plans and services for individuals, institutions, and financial intermediaries.

　　Where T.Rowe Price shines

　　1. Low-fee mutual funds: Price and performance go hand in hand. More specifically, a fund‘s cost — the expense ratio — is tied inextricably to the returns it delivers to investors. As of September 2020, over 70 of T.Rowe Price's funds have earned four or five star Overall Morningstar Ratings. Another attractive feature is the firm’s selection of no-transaction-fee mutual funds, which totals approximately 3,000, and its lineup of 300 commission-free ETFs.

　　2. Direct investment access to T.Rowe Price‘s fund lineup: A bonus for T.Rowe Price customers: Buying the company’s own funds right from the source, instead of through another brokerage, means you avoid paying any transaction fee (no commissions!) and any markup charged by a middleman.

　　3. Fund screening and retirement planning tools: T.Rowe Prices Mutual Fund Research Tool makes it easy to research funds by family, ratings/rankings, management and objective and prices/yields. It has a easy-to-use retirement planning simulator called FuturePath, which starts with all the standard inputs: salary, current retirement savings and contributions, desired retirement age.

　　Where T.Rowe Price falls short

　　1. Stock and ETF trading costs: The companys $19.95 stock and ETF trading commissions are at the high end of the spectrum, especially when compared with other fund-centric companies like Fidelity and Charles Schwab that charge $0 per trade.

　　2. Minimum initial investment requirements: There‘s no reason to delay investing because you can’t meet a firm‘s minimum initial investment requirement. If T.Rowe Price’s $1,000 initial deposit to open an IRA (and $100 minimum to add to an existing account) or $2,500 to open a non-retirement brokerage account is too big a hurdle, there are plenty of other brokers with a lower bar.

　　3. Account fees: T.Rowe Prices terms and conditions for mutual fund accounts and brokerage clients could be a turnoff. The company charges an annual service fee of $20 on mutual fund accounts with balances below $10,000. There is also a $30 annual fee on brokerage accounts to customers who do not qualify for Select Client Services.

　　Contact Information

　　Headquartered in Baltimore, Maryland, it has 5,000 employees in Baltimore and 16 international offices serve clients in 47 countries around the world. As for the contact information of local offices, please refer to the company website: https://www.troweprice.com/corporate/hk/en/locations.html