5 Best SEP IRA Providers of 2025

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Whether you’re a self-employed individual or a small business owner, finding the right SEP IRA provider can make a significant difference in maximizing your retirement savings potential.

While IRS contribution limits, tax benefits and withdrawal rules are uniform across providers, the similarities end there.

Variation exists in investment options, fees and account features, which can greatly impact your investment experience and overall returns.

Thus, it’s essential to choose a provider that suits your specific needs and investment objectives.

We put together a list of the best SEP IRA providers using a methodology that evaluates costs, investment options, accessibility and more. We consider whether brokers offer multi-person plans or have options only for self-employed individuals.

Let’s take a look.

Our top picks for SEP IRAs

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4 IRA types: Traditional, Roth, SEP, Rollover
Access to: Over 265 low-cost mutual funds
Annual fee: $25

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$0 commissions on stocks, ETFs and options
Trade stocks, bonds, ETFs, mutual funds, options, futures & currencies in your IRA
Beginner-friendly and advanced mobile trading platforms, with robust research tools

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1% match on IRA contributions and 401(k) rollovers
$0 annual fee and no options contract fees
Robo-advisor and financial planning sessions
Access private credit, venture capital and other alternative asset funds

5 best SEP IRAs of 2025

Best overall: Fidelity Investments
Best for hands-off investors: Wealthfront
Best for advisory services: SoFi Invest®
Best for small businesses: Vanguard
Best for self-employed individuals: Charles Schwab

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15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics

We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.

Best overall

Fidelity IRA

9.2 Excellent

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For its combination of investment choices, low fees and easy SEP IRA account funding methods.

Fidelity Investments is a top SEP IRA provider due to its wide range of investment options, industry-low fees, robust research tools and quality customer service. Fidelity offers a simple online SEP IRA application process and several account funding methods and is available to small-business owners and self-employed individuals. However, employers can't open SEP IRAs on behalf of their employees. Employees must open their own SEP IRA accounts and provide the account number to the employer for funding.

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Rollover, Custodial
Annual fee	$0 per year

For its combination of investment choices, low fees and easy SEP IRA account funding methods.
Fidelity Investments is a top SEP IRA provider due to its wide range of investment options, industry-low fees, robust research tools and quality customer service. Fidelity offers a simple online SEP IRA application process and several account funding methods and is available to small-business owners and self-employed individuals. However, employers can't open SEP IRAs on behalf of their employees. Employees must open their own SEP IRA accounts and provide the account number to the employer for funding.
Pros

Wide range of investment options

$0 commissions on stocks and exchange-traded funds (ETFs)

Virtually no account fees

Several account funding methods

Large selection of top-tier research providers
Cons

Employees must open their own SEP IRA accounts

No multi-person SEP IRA plan

Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, CDs, Treasury Bills

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Rollover, Custodial
Annual fee	$0 per year

Go to site

Best for hands-off investors

Wealthfront

9 Excellent

Go to site Read review

For its automated SEP IRA.

Wealthfront is one of the only robo-advisors we review that lets employers contribute to employees' SEP IRAs — many other robo-advisors are only available to self-employed individuals. Once an employee establishes their SEP IRA, each employee must email Wealthfront to ask for an exception to the $500 minimum deposit requirement. At that point, employers can contribute via check or wire transfer. While a little cumbersome, it's a way for employees to enjoy Wealthfront's automated, customizable portfolio of ETFs.

Minimum deposit	$500
Retirement account types	Roth, Traditional, SEP, Rollover
Annual fee	0.25%

For its automated SEP IRA.
Wealthfront is one of the only robo-advisors we review that lets employers contribute to employees' SEP IRAs — many other robo-advisors are only available to self-employed individuals. Once an employee establishes their SEP IRA, each employee must email Wealthfront to ask for an exception to the $500 minimum deposit requirement. At that point, employers can contribute via check or wire transfer. While a little cumbersome, it's a way for employees to enjoy Wealthfront's automated, customizable portfolio of ETFs.
Pros

Employers can contribute to employees' SEP IRAs directly

Customizable portfolios of over 100 ETFs
Cons

0.25% annual management fee

$500 minimum deposit

Cumbersome account opening process

Account types	IRA
Available asset types	Stocks, ETFs

Minimum deposit	$500
Retirement account types	Roth, Traditional, SEP, Rollover
Annual fee	0.25%

Go to site Read review

Best for advisory services

SoFi IRA

8.2 Great

Go to site Read review

For access to its robo-advisor with no minimum investment and financial planners.

SoFi's SEP IRA is available to self-employed individuals only, but it offers self-directed and automated account options. SoFi's robo-advisor requires no minimum investment amount and charges only a 0.25% annual management fee. Meanwhile, SoFi offers unlimited access to its credentialed financial planners when you subscribe to SoFi Plus, a valuable benefit for retirement savers.

Stock trade fee	$0
Minimum deposit	$0

For access to its robo-advisor with no minimum investment and financial planners.
SoFi's SEP IRA is available to self-employed individuals only, but it offers self-directed and automated account options. SoFi's robo-advisor requires no minimum investment amount and charges only a 0.25% annual management fee. Meanwhile, SoFi offers unlimited access to its credentialed financial planners when you subscribe to SoFi Plus, a valuable benefit for retirement savers.
Pros

Self-directed and automated SEP IRAs

No-fee commission stocks and ETFs

Robo-advisors with no minimum investment

Access to credentialed financial planners
Cons

Only available to self-employed individuals

Employer can't contribute to an employee's SEP IRA

Available asset types	Stocks, ETFs
Account types	Brokerage, IRA
Annual fee	$0 per month
Minimum deposit	$0
Cash sweep APY

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products oﬀered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).

There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.

Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options

Advisory services are oﬀered by SoFi Wealth LLC, an SEC-registered investment adviser.

Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information

Up to $1,000 in stock. Customer must fund their Active Invest account with at least $50 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon
request and at www.adviserinfo.sec.gov.

Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match oﬀer. Matches on contributions are made up to the annual limits.

unlimited 1% match on recurring deposits to a SoFi InvestⓇ account, paid in rewards points. Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers

1% bonus when you transfer your portfolio to SoFi Active Invest. For full promotion terms please visit: SoFi.com/ACATterms. You must transfer at least $20,000 before April 17, 2025 and keep the investments in your SoFi Active Invest account through December 31, 2025 to be eligible for the incentive, which will be paid by January 31, 2026. SoFi does not accept cryptocurrencies and has some limitations on mutual funds and OTC stock.

Robo Advisor:
Automated investing is oﬀered through SoFi Wealth LLC, an SEC-registered investment adviser.
0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.

Stock trade fee	$0
Minimum deposit	$0

Go to site Read review

Best for small businesses

Vanguard IRA

8 Great

Automated investment management with human support

Read review

For its multi-person SEP IRA option.

Vanguard stands out as one of a few brokers offering a multi-person SEP IRA plan tailored for small business owners, alongside its brokerage SEP IRA option for self-employed individuals. Notably, there are no plan setup fees, and the seamless online application process simplifies the setup and funding of SEP IRAs for employees. Business owners with employees who open a multi-person SEP IRA plan can invest in over 100 Vanguard mutual funds and fund employee SEP IRAs directly, but annual fees apply.

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Spousal, Rollover
Annual fee	$25 per month

For its multi-person SEP IRA option.
Vanguard stands out as one of a few brokers offering a multi-person SEP IRA plan tailored for small business owners, alongside its brokerage SEP IRA option for self-employed individuals. Notably, there are no plan setup fees, and the seamless online application process simplifies the setup and funding of SEP IRAs for employees. Business owners with employees who open a multi-person SEP IRA plan can invest in over 100 Vanguard mutual funds and fund employee SEP IRAs directly, but annual fees apply.
Pros

Over 100 Vanguard mutual funds

Plans for small business owners and self-employed individuals

Flexible investment options for Vanguard's one-person plan

$0 commissions on online stock, ETF and Vanguard mutual fund trades

No plan setup fees
Cons

$25 annual service fee for each Vanguard mutual fund in each account with a balance under $10,000 (fee doesn't apply if you sign up for online account access and electronic statements and confirmations)

$20 for each Vanguard mutual fund in each account for its multi-participant SEP IRAs

Only mutual funds are available for the multi-person plan

Can only choose up to 4 funds to invest in at a time

Account types	Brokerage
Available asset types	Stocks, Mutual funds, ETFs

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Spousal, Rollover
Annual fee	$25 per month

Read review

Best for self-employed individuals

Charles Schwab

8.8 Great

Read review

For its simple online application process, coupled with its robust lineup of investments, competitive fees and big-broker amenities.

A Charles Schwab SEP IRA offers flexibility and full-service broker amenities. Invest yourself, with commission-free stock, ETF and Schwab mutual fund trades — or automate with Schwab's robo-advisor. Self-employed individuals will find a simple online application and funding process with no account open or maintenance fees. While Schwab offers SEP IRAs for small business owners with employees, you and your employees must submit a paper application to get started. To fund employees' accounts, you'll also need to mail a check. No online funding is available.

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Rollover, Custodial, SIMPLE
Annual fee	$0 per month

For its simple online application process, coupled with its robust lineup of investments, competitive fees and big-broker amenities.
A Charles Schwab SEP IRA offers flexibility and full-service broker amenities. Invest yourself, with commission-free stock, ETF and Schwab mutual fund trades — or automate with Schwab's robo-advisor. Self-employed individuals will find a simple online application and funding process with no account open or maintenance fees. While Schwab offers SEP IRAs for small business owners with employees, you and your employees must submit a paper application to get started. To fund employees' accounts, you'll also need to mail a check. No online funding is available.
Pros

$0 account open or maintenance fees

$0 commissions on online stock, ETF and Schwab mutual fund trades

Wide variety of investment options

Available to self-employed individuals and small business owners with employees
Cons

Paper application is required for small business owners with employees

Small business owners can only fund their employees' accounts via check

Account types	Brokerage, Education (529), Custodial, Joint brokerage, Trust
Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Futures, Treasury Bills

Minimum deposit	$0
Retirement account types	Roth, Traditional, SEP, Rollover, Custodial, SIMPLE
Annual fee	$0 per month

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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

Methodology: How we choose the best SEP IRA providers

Finder’s investments experts review 18 brokers and 11 robo-advisors available on the market to narrow down the best SEP IRA providers for self-employed individuals and small business owners.

We analyze each platform based on over 100 key metrics we collect directly from brokers and robo-advisors and assess each provider’s performance based on eight categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We look at whether a provider offers options for self-employed individuals and small business owners, account opening processes and if an employer can fund an employee’s SEP IRA directly. We then score and rank each provider depending on how it performs in each category.

How we weigh the overall rating for broker SEP IRAs

Investment options	Trading platforms and technology	Trading costs	Account fees	Account types and minimums	Customer support	Mobile app rating and security	Features	IRA match
16%	15%	10%	9%	17%	10%	2.5%	18%	2.5%

How we weigh the overall rating for robo-advisor SEP IRAs

Cost and fees	Account minimum	Account types	Portfolio mix	Customer support	Mobile app rating and security	Features and amenities	Cash management account
34%	7%	14%	20%	5%	2.5%	15%	2.5%

We update our best picks as products emerge, change or disappear from the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.

What is a SEP IRA?

A SEP IRA, short for simplified employee pension individual retirement account, is a retirement savings plan for self-employed individuals and small businesses. Employers make tax-deductible contributions for themselves and eligible employees based on a percentage of compensation up to IRS limits. Employees are immediately vested in all contributions, and contributions grow tax-deferred until withdrawal in retirement.

How do I open a SEP IRA?

Opening a SEP IRA isn’t much different than opening a brokerage account, bank account or other type of IRA. With most providers, you can open an IRA online in minutes.

Choose a broker or robo-advisor and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number. Completed applications are typically approved instantly, though the broker may take a couple of days to verify your information. Then, connect a bank account to fund your account or roll over an old 401(k).

What to look for when choosing the best SEP IRA account

Finder’s picks for the best SEP IRA providers are meant to provide you with a starting point for finding the right broker for your retirement. That said, it’s important to consider your personal preference and individual investing goals, too.
Consider the following factors when comparing your options:

Fees. From trading fees to miscellaneous fees, it’s important to understand the cost of trading and investing. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees, such as inactivity or transfer fees, that can also eat into your profit.
Tradable assets. Not every IRA custodian offers the same investment options in an IRA as in an individual brokerage account. Stocks and ETFs are standard, but what if you want to expand into options, mutual funds or bonds?
Account types. What other account types, in addition to IRAs, does the custodian offer? Consider your other investment needs and how important it is to maintain all your accounts under one roof.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter much. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
Signup bonus. While it may not make sense to choose an IRA custodian solely based on whether they offer a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.

Compare and find the broker that's right for you

Match your experience level with your trading and investing goals to find the right broker for you.

If you're a	And want to	Consider this
Beginner investor	Do most or all of your trading on your mobile device	Best stock trading apps
Beginner investor	Trade and invest with as few fees as possible	Best discount stock brokers
Beginner investor	Outsource portfolio management automatically and at a low cost	Best robo-advisors
Beginner investor	Gain exposure to multiple assets like stocks, bonds or gold through a single fund	Best ETF brokers
Experienced investor	Get an overall idea of providers on the market and what they're best for	Best brokerage accounts
Experienced investor	Invest internationally in stocks, ETFs and other assets	Best international stock brokers
Retirement saver of any experience level	Save for retirement with upfront tax benefits	Best (traditional) IRA
Retirement saver of any experience level	Save for retirement and enjoy tax-free withdrawals	Best Roth IRA
Investor of any experience level	Diversify with low-cost index funds	Best brokerage accounts for index funds 2024

Frequently asked questions

What is the downside of a SEP IRA?

Unlike SIMPLE IRAs, SEP IRA contributions are generally made solely by the employer.

Who should I open a SEP IRA with?

The best place to open a SEP IRA is with a provider that offers low fees and the investment options you’re looking for. Certain providers only offer SEP IRAs for self-employed individuals and not small business owners with employees, so compare your options.

Thank you for your feedback!

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Matt Miczulski

Investments editor

Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions. Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio

Matt's expertise

Matt has written 190 Finder guides across topics including:

Trading and investing
Broker and trading platform reviews
Money management

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SEP IRA vs. Roth IRA: How do they compare? 6 signs you’re investing too much for retirement

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5 Best SEP IRA Providers of 2025

These leading brokers offer the best SEP IRAs for your workplace retirement savings. We look at self-directed and automated options, investment choices, fees and more.

Our top picks for SEP IRAs

5 best SEP IRAs of 2025

Best overall

Best for hands-off investors

Best for advisory services

Partner terms and conditions

Best for small businesses

Best for self-employed individuals

Methodology: How we choose the best SEP IRA providers

What is a SEP IRA?

How do I open a SEP IRA?

What to look for when choosing the best SEP IRA account

Compare and find the broker that's right for you

Frequently asked questions

What is the downside of a SEP IRA?

Who should I open a SEP IRA with?

Matt Miczulski

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