Hi all
I have been studying for some time now about self directed investments and I'm ready to take the plunge. However before coming to the FI world I invested with an advisor who charges 1%. The investments are a mix of stocks & etfs generally, including vanguard and ishares. but they are sort of all over the map, appx 80/20 stocks/bonds. most of this is in a taxable account btw.
My question is, how to I transfer these assets to Vanguard in the most tax efficient and cheapest manner? Do I simply liquidate and move everything into VTSAX or what?
Any advice is much appreciated!
thanks!
Seems to have been mentioned above, but you can do a "transfer" where they will just move your assets from one place to another. You'll have to dig deeper and maybe get on the phone to find out what type of fees, if any, the current and future brokerages may charge you to do that.
Depending on if you have a lot of assets in certain fund types (Vanguard, i-shares), you could also do a partial transfer to each Vanguard and Fidelity so you can get free trades for those funds in the future.
As for the individual stocks, you can transfer those now, and not pay any taxes, but will have to liquidate eventually if you want to rebalance into funds.
Another thing to ask about is how partial share transfers will work (in case you reinvested dividends and purchased partial shares before) since some places will make you liquidate the partial shares in order to move the assets.