Do millionaires use Charles Schwab?
Yes, Fidelity is widely used by millionaires, ranging from high-net-worth individuals to those who have built their wealth through long-term participation in 401(k) and other retirement savings plans. Fidelity manages significant volumes of assets for "401(k) millionaires"—people who have reached the seven-figure threshold through consistent, long-term contributions and employer matching over decades of employment. The platform provides a broad range of services, including tax-advantaged retirement accounts, brokerage services, and financial planning, making it a reliable destination for both the mass-affluent and ultra-high-net-worth investors.
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