Anyone used, or heard of, Capitalize to help roll over old 401ks to an IRA?

[NextTime]

I've put this off for a couple of years, but I still have this daunting task of moving all of my mother's old investment accounts from various places into Vanguard. I recently came across "Capitalize" that claims to help you do just this. There doesn't appear to be any fees involved, so I haven't yet figured out what the catch is. Has anyone heard of this company, or knows anyone who has used them before. It would be great if this was legit.

The website is https://www.hicapitalize.com/

[reeshau]

Well, they do answer this question on their home page:

How is Capitalize free?
If you choose to open an IRA with one of the preferred partners on our platform then we may be compensated. This helps us keep our rollover service free for almost all of our users and allows us to provide enhanced levels of rollover service for transfers into those partners. None of those providers are ever allowed to impact the content on our site. If you’ve ever used a site like Nerdwallet, Credit Karma, or Lending Tree then you’ll be familiar with this model.

We also offer Capitalize Plus, a premium, paid service for users who want even more service & benefits, or for users who want to roll over into an IRA provider that isn’t currently a Capitalize preferred partner.

I could see where this could be useful if the 401k's are forgotten, or have been through several acquisitions.  If you know the current whereabouts / account numbers of the old accounts, I don't know that this would be much easier than just initiating a rollover with Vanguard directly.  Does Vanguard itself say anything about using them?

[MDM]

If you know the current whereabouts / account numbers of the old accounts, I don't know that this would be much easier than just initiating a rollover with Vanguard directly.  Does Vanguard itself say anything about using them?

+1

The usual advice is "work with the receiving brokerage to have it pull the funds from the sending brokerages".

[solon]

If you know the current whereabouts / account numbers of the old accounts, I don't know that this would be much easier than just initiating a rollover with Vanguard directly.  Does Vanguard itself say anything about using them?

+1

The usual advice is "work with the receiving brokerage to have it pull the funds from the sending brokerages".

I've done a couple of 401k rollovers recently. Both required the sending institution to "push" the payment. Vanguard (my receiving institution in both cases) could only give me an address to send the check to.

[Sibley]

Daunting? Maybe. Maybe not. It's paperwork. Once you get the first one done, then you'll have a sense of how it works and the rest will be easier. Just pick one and roll that one over to start with.

[Kwill]

I haven't, but I rolled over an old 403b to Vanguard back in 2015. Vanguard sent me all the forms and walked me through the process and answered all my questions. I can't imagine that involving an additional company would have made it any easier.

[eyesonthehorizon]

If you know the current whereabouts / account numbers of the old accounts, I don't know that this would be much easier than just initiating a rollover with Vanguard directly.  Does Vanguard itself say anything about using them?

+1

The usual advice is "work with the receiving brokerage to have it pull the funds from the sending brokerages".

I've done a couple of 401k rollovers recently. Both required the sending institution to "push" the payment. Vanguard (my receiving institution in both cases) could only give me an address to send the check to.

Came to say this, yes. If it was an employer plan, they need to release it on their end, so you do the paperwork with the existing account. If it was your own retirement account that’s when you have the receiving brokerage take it over.