Self-directed brokerage accounts.

For employees who want more options.

A self-directed brokerage account expands your retirement offering beyond a preselected investment lineup. It gives participants more flexibility to select the individual investments in their plan. The Schwab Personal Choice Retirement Account® (PCRA) is our self-directed account option, and it's designed to fit seamlessly into any plan you offer, can be rolled out digitally, and is backed by a dedicated team of self-directed-account specialists.

What makes PCRA different?

  • The next level of choice.

    PCRA is built with flexibility. Keep the choices wide open or restrict employees' access to specific trading types. You can offer choices across a range of asset classes, including stocks, bonds, mutual funds, and fixed income products.

  • Priced competitively.

    Employees can purchase thousands of no-load, no-transaction-fee mutual funds.1 All listed ETFs, stocks and base options on the U.S. exchanges are commission-free across all mobile, automated phone and web trading channels.2

  • Extensive resources for employees.

    Employees can learn more about the investment choices available to them by accessing independent third-party and proprietary research reports,3 advanced online screening tools, and market commentary from industry experts.

  • Backed by dedicated service and support.

    Employees can rely on the assistance of dedicated Schwab PCRA Registered Representatives who are familiar with the investments in their plan and can help them place trade orders. Since PCRA is a self-directed option, the representatives cannot provide investment recommendations.

Choose PCRA

Choose PCRA

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When it comes to retirement plans, many employees require the freedom to make their own retirement choices. They may want more options, at their own pace. Or to personalize their investments to match their unique values. 
A Schwab Personal Choice Retirement Account can open up impactful new investment possibilities for employees. 

Added to your existing retirement plan, a PCRA gives employees a brokerage account where they pick the investments. And it gives plan sponsors a powerful new way to engage employees and attract talent. 

With a PCRA, participants can research, trade, monitor and manage investments how they want to, when they want to. On their own, or with help from an independent registered investment advisor. And they'll get in-depth support from dedicated service teams. 

As the sponsor, you can seamlessly add a PCRA to your retirement plan while keeping your core investment lineup manageable. Free employees to pursue socially responsible or other values-based investments. Offer access to thousands of stocks, bonds, mutual funds and ETFs. Or keep it simple and add only the investments you want. It's all tailored to your company's needs. 

Personal Choice Retirement Accounts have been providing investment flexibility for retirement plan participants since 1994. We were the first to offer an innovative no-load, no transaction fee mutual fund marketplace. Plus there's the website and mobile apps. Fractional share trading through Schwab Stock Slices. Access to independent registered investment advisors. Socially responsible investing options. And a customizable trading menu.

With a Schwab Personal Choice Retirement Account, you give your employees the freedom to own their tomorrow. To get started, contact your Retirement Plan Service Provider today. 


What makes PCRA different?

Gain insight into employees' market perceptions and investment decisions through quarterly and yearly Schwab Self-Directed Brokerage Account Indicators Reports.