TIAA Brokerage: Platform Profile

Overview

TIAA Brokerage is a self-directed brokerage division of TIAA-CREF Individual & Institutional Services, LLC.

The platform is available to retail investors and supports a broader investment menu than TIAA's retirement-plan identity might suggest.

Current brokerage products include:

• stocks;
• ETFs;
• options;
• mutual funds;
• bonds;
• agency securities;
• mortgage-backed securities;
• brokered CDs;
• taxable accounts;
• conventional IRAs;
• employer-plan brokerage windows where a plan permits them.

May fit better for

• existing TIAA clients;
• investors seeking stocks, funds, bonds, and options in one account;
• IRA investors;
• mutual-fund investors using NTF funds;
• fixed-income investors;
• users who value TIAA integration.

May fit less well for

• investors seeking direct crypto;
• traders seeking specialized active-trading platforms;
• investors who want futures;
• users seeking advanced direct-routing tools;
• investors who assume employer-plan brokerage-window rules equal retail-account rules;
• investors who want one flat fee across mutual funds and bonds.

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Legal broker

Current FINRA BrokerCheck:

• Legal broker: TIAA-CREF Individual & Institutional Services, LLC
• CRD: 20472
• SEC number: 8-44454
• FINRA member: Yes
• SIPC member: Yes

TIAA Brokerage is an operating division/brand within that broker-dealer.

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Clearing

Current brokerage agreements identify:

• Clearing firm: Pershing LLC
• Pershing FINRA member: Yes
• Pershing SIPC member: Yes
• BNY Mellon subsidiary: Yes

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Retail brokerage minimum

Current TIAA materials state:

• Retail brokerage account opening minimum: $0
• Minimum balance: $0
• Account maintenance charge: $0

Employer-plan brokerage windows can have plan-specific minimum-transfer or investment rules.

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Stocks and ETFs

Current May 2026 brokerage agreement:

• Online mobile equity commission: $0
• Online mobile ETF commission: $0

Client-service-assisted activity can use separate pricing.

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Options

Current May 2026 agreement:

• Online mobile options commission: $0
• Client service assisted options: $55 + $2.50/contract
• Exercise assignment fee: $25

Exchange and regulatory fees can still apply.

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Mutual funds

Current NTF treatment:

• NTF mutual fund transaction fee: $0
• Minimum initial purchase: greater of prospectus minimum or $500
• Minimum additional purchase: greater of prospectus minimum or $500
• Systematic purchase minimum: $100
• Systematic transaction fee: $0

Short-term redemption disclosures show:

• Short term redemption fee: $50 minimum when applicable for holdings under 3 months

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Transaction-fee mutual funds

Current schedule:

• Transaction fee mutual fund trade: $50
• Wealth management financial planning solution: $35

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Fixed income

Current schedule disclosures show:

• Municipal bonds: $50 + $2/bond
• Government agency bonds: $50 + $2/bond
• Unlisted OTC corporate bonds: $50 + $2/bond
• Mortgage backed securities: $50 + $2/bond

Other fixed-income products can use different pricing/spreads.

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New-issue CDs

Current schedule:

• New issue CD minimum: $5,000
• Commission: $0

The offering interest rate can reflect issuer economics.

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IRA accounts

Current forms support brokerage IRAs and SIMPLE IRA arrangements.

TIAA Brokerage is not an alternative-asset SDIRA custodian.

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Margin

Eligible taxable brokerage accounts can use margin.

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Cash sweep

Current Regulation Best Interest disclosure states accounts are carried by Pershing and cash can be swept under applicable programs.

Current structure includes:

• EverBank sweep: Yes
• Pershing LIDS network: Yes
• Money market sweep possible by request or program: Yes

Eligible bank-deposit balances can receive FDIC insurance subject to program rules and statutory limits.

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Assessment

TIAA Brokerage is a conventional full-line brokerage hidden inside a brand most investors associate with retirement plans and annuities.

The online equity and option pricing is competitive:

• $0 online stocks and ETFs;
• $0 online options.

The cost picture changes in mutual funds, assisted trading, and fixed income.

The key structural distinction is:

retail TIAA Brokerage rules are not the same thing as plan-specific brokerage-window rules inside an employer retirement plan.