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?

Opens in popupRead transcriptfor What makes PCRA different?

Upbeat piano music plays throughout. 

Onscreen text: Let’s talk about retirement plans 

Narrator: Let's talk about retirement plans.

Onscreen text: Choices 

Narrator: How much choice do your employees have when it comes to their investments?

 Onscreen text: Schwab is a pioneer 

Onscreen text: Personal Choice Retirement Account PCRA 

Narrator: Schwab is an industry pioneer in the self-directed brokerage space, with the Personal Choice Retirement Account.

Onscreen text: Choose for themselves


Individual pace

Narrator: Many may like to choose for themselves, for their individual goals, at their individual pace.

Onscreen text: Schwab is committed to the investor 

Narrator: Schwab is committed to the investor and firmly believes in diversification and the freedom to choose.

Onscreen text: And firmly believes in diversification

Narrator: After all, investing is our core business. It's what we do, and we've been doing it for over 40 years.

Onscreen text: Investing

It’s what we do

40 years

Narrator: We were the first to bring you the revolutionary no-load, no-transaction-fee Mutual Fund MarketPlace.

Onscreen text: Mutual Fund OneSource®

Customizable trading menu

Electronic account opening

Multiple PCRAs

Mobile apps

Comprehensive fee disclosure reports

Investment advisors

Narrator: We've also brought you our customizable trading menu, award-winning website, electronic account opening, multiple PCRAs, mobile apps, comprehensive fee disclosure reports, and access to investment advisors. And now, we're the first to bring you Schwab ETF OneSource™. And the innovation continues.

Onscreen text: Schwab ETF OneSource™

And the innovation continues.

Narrator: You'll get in-depth support from dedicated teams who respond to the changing needs of investors. Your employees can research, trade, and manage their account how they need to, where they need to.

Onscreen text: Research





Narrator: And we keep you informed, allowing you flexibilitythe flexibility to add investment choices without changing your core lineup;

Onscreen text: Flexibility

Without changing your lineup

Onscreen text: Full access to all stocks


Mutual funds


And more

Narrator: …the flexibility to add full access to stocks, bonds, mutual funds, ETFs, and more;

Onscreen text: Add just what you want

Narrator: …or you can keep it simple and add just those investments you want to add, all tailored to your company's needs, at no additional cost.

Onscreen text: No additional cost

Narrator: Don't get stuck in the paststay ahead of the curve.

Onscreen text: Stay ahead of the curve

For employees

Give your best answer

For employees who ask for more, give your best answer: Schwab Personal Choice Retirement Account®.

Onscreen text: Charles Schwab




What makes PCRA different?

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 ETFs, stocks and options listed on the U.S. or Canadian 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.

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