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TIAA vs Robinhood (2024)
Robinhood or TIAA CREF—which is better in 2024? Compare IRA/Roth accounts, online investing fees, stock broker mutual fund rates, and differences.
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The Faceoff
TIAA and Robinhood cater to different types of investors. While anyone can open an account with either firm, each has distinct features and services. This article compares TIAA and Robinhood to determine which one offers better value.
Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
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Robinhood
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$0
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na
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$0
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$0
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$0
|
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TIAA
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$0
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$50
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$0 per contract
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$0
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$0
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Services
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Robinhood
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TIAA
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Promotions
Robinhood: Free stock up to $200 and 1% IRA match when you open an account.
TIAA: None at the moment.
Trading Technology
Robinhood’s primary trading platform is its mobile app, which includes basic graphs, limited security research, and minimal market news. The website can also be used for trading, but it mainly provides FAQs and promotes the broker's services.
TIAA offers a more advanced trading platform on both its website and mobile app, with better charting tools than Robinhood’s mobile platform.
TIAA wins this round.
Customer Support
TIAA offers phone support during extended hours, including Saturdays, and has a 24/7 automated phone service. They also provide an international phone number for travelers and Spanish language service. TIAA has many branch locations in the U.S., with financial advisors even in smaller cities, although they don't offer financial advice to self-directed account holders.
Robinhood provides 24/7 phone support but has no branch locations.
TIAA wins this category.
Fees and Commissions
Robinhood offers commission-free equity trading with no deposit requirements or ongoing fees. A live agent-assisted trade over the phone costs only $10.
TIAA also charges no fees for stock and ETF transactions, with no annual fee or minimum deposit required for a regular brokerage account. However, TIAA’s margin rates are higher than Robinhood’s.
Robinhood takes this round.
Mutual Funds and ETFs
TIAA investors can buy and sell ETFs and mutual funds. The broker manages 290 TIAA-branded funds, some of which have no loads, though transaction fees may apply. TIAA's mutual fund screener lists over 7,200 funds, but it lacks the ability to filter for no-load, no-transaction-fee funds.
Robinhood offers commission-free trading for all U.S.-listed ETFs but does not provide mutual funds.
TIAA wins this round.
Investment Advice and Managed Accounts
TIAA offers managed accounts with access to a financial advisor, but its robo-advisory service is the cheaper option. The minimum deposit for the robo-service is $5,000, compared to $50,000 for a traditional managed account, with costs of 0.30% vs. 1.15%.
Robinhood does not offer financial advice or managed accounts.
TIAA wins this category.
Other Investment Products
TIAA clients can access fixed-income products, education savings plans, annuities, life insurance, and estate planning. Derivative contracts are free, while bond transactions have a $50 commission.
Robinhood offers commission-free options and crypto trading.
This round is a tie.
Banking Features
TIAA offers a debit card and checks for trading accounts with a balance of $10,000 that have been open for at least a month.
Robinhood’s Cash Card offers rewards, a competitive interest rate on cash balances, checking features, and more.
Robinhood wins here.
Promotions
Robinhood: Free stock up to $200 and 1% IRA match when you open an account.
TIAA: None at the moment.
TIAA vs Robinhood: Which is Better?
TIAA won more categories, but Robinhood is better suited for active traders and those looking for the best pricing and margin rates.
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Open Account
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Open Account
Updated on 8/23/2024.
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