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Accounting · head to head

ADP vs Charles Schwab

ADP logo

ADP

Accounting

Always Designing for People

From
$29/month
Rated
-
Full reviewWebsite
Charles Schwab logo

Charles Schwab

Personal Finance

Investing made simple

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: ADP no pricing is published; every quote is custom and driven by employee count and which services are taken; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • They diverge on capability: ADP covers Payroll, Charles Schwab covers Commission-free trading.

Where they differ

Only the attributes on which ADP and Charles Schwab actually diverge.

Attributes where ADP and Charles Schwab differ
AttributeADPCharles Schwab
Starting price$29/monthOn request
Pricing modelsubscriptiontransaction
CategoryAccountingPersonal Finance
Founded19491971

Identical on both: free tier (No), platforms (Web, Ios, Android), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in ADP

  • Payroll
  • Tax services
  • HR management
  • Time & attendance
  • Benefits administration
  • QuickBooks
  • Sage
  • Oracle

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Research tools
  • Bank accounts
  • Investment accounts
  • IOS support

Both cover

  • Web support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

ADP

  • Payroll processing and tax filingnot Charles Schwab
  • HR administration and employee recordsnot Charles Schwab
  • Time and attendance trackingnot Charles Schwab
  • Benefits administrationnot Charles Schwab
  • Talent management on the mid-market and enterprise productsnot Charles Schwab

Charles Schwab

  • Budget Managementnot ADP
  • Expense Trackingnot ADP
  • Investment Trackingnot ADP

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

ADP

  • No pricing is published; every quote is custom and driven by employee count and which services are taken
  • Split into three separate products by company size, RUN for 1 to 49 employees, Workforce Now for 50 and above, and Lyric HCM for enterprise, so growing across a threshold means changing product rather than plan

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

Pricing, plan by plan

ADP

$29/month
  • Essential$79/month
    • Payroll
    • Tax filing
    • Direct deposit
  • Enhanced$139/month
    • HR tools
    • Background checks
    • Job posting

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

Which should you pick?

Choose ADP if

  • You need payroll.
  • You work on Web, Ios, Android.
  • You also want tax services.
ADP review

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Questions people ask

Is ADP or Charles Schwab better?
Neither clearly leads. ADP starts at $29/month and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, ADP or Charles Schwab?
ADP starts at $29/month and Charles Schwab at On request.
Does ADP or Charles Schwab run on more platforms?
ADP runs on Web, Ios, Android. Charles Schwab runs on Web, IOS, Android.
What is ADP best used for?
ADP is most often used for payroll processing and tax filing, hr administration and employee records, time and attendance tracking, benefits administration. Of those, payroll processing and tax filing and hr administration and employee records are not what Charles Schwab is typically brought in for.
What can ADP do that Charles Schwab cannot?
ADP covers Payroll, Tax services, HR management, Time & attendance. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Web support, Android support.

Answered from the vendors’ own pages

ADP: How is ADP pricing organized?

ADP organizes pricing by business size: Small Business (1-49 employees), Midsized (50-999 employees), and Enterprise (1,000+ employees). Each segment receives customized pricing tailored to specific business needs.

Source
ADP: Is there a current promotional offer for ADP payroll?

ADP currently offers 3 months free when signing up for small business payroll (promotion ends 9/24). Contact sales at 800-225-5237 for details and to request pricing based on your employee count.

Source
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