The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: doneby35 on January 04, 2020, 08:26:21 AM
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Has anyone done a 401k rollover from Fidelity to Vanguard?
I initiated one a couple of days ago because I left one employer and joined a new one, I asked fidelity for a direct rollover to my existing vanguard IRA, and it looks like they charged a $55 termination maintenance fee. I thought a rollover had no fees associated to it?
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Many companies charge this type of fee. I have been moving a rollover IRA around to hit bonuses for a few years. So far Merrill Edge and TD Ameritrade have both agreed to refund the fee from the previous brokerage, I don't think Vanguard does though. If you have a large balance, you may want to move it somewhere else to get a bonus (~$500 for $100,000+ balance).
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I see, that's new information for me, thanks. I thought it was going to be a no fee rollover. The rollover for bonuses sounds like a good idea, but I'm just looking to consolidate since all of my other accounts are with Vanguard. Maybe i'll see if Vanguard can refund the fee by calling them and asking.