Fidelity record keeping fees

[nancy33]

We have about  $300 k in an old workplace profit sharing 401k with Fidelity. I noticed there is a 0.19 percent quarterly record keeping fee? Should I move this to Vanguard? It has been about $500 in fees in 2019 so far! Now I am going to look at my vanguard fees.

[nancy33]

We have about 400 k at vanguard in stocks and index funds and I don’t see any fees being charged. I don’t know if it is a good idea to switch the fidelity investments to vanguard though? But if it saves us over 500 dollars a year in fees?
The problem is those Fidelity funds are in mutual funds so would need to sell those funds and buy more vanguard index funds. The fidelity funds are all in retirement accounts. Any advise TIA.

[MDM]

The problem is those Fidelity funds are in mutual funds so would need to sell those funds and buy more vanguard index funds. The fidelity funds are all in retirement accounts.

Why is that a problem (other than all the mouse clicks it would take...)?  Given the second sentence, there won't be any tax effects.

[DaMa]

Switch to a Fidelity rollover IRA.  Workplace 401k's have middle man fees that Fidelity doesn't charge direct customers.

[DeepEllumStache]

We have an $8 fee per quarter with our Fidelity 401K that is the same whether you have $300 in there or $300,000. Roll it into an IRA with them.

[ender]

I find the cognitive overhead is a lot lower the fewer lingering accounts we have.

I'd move it to your main accounts, which look to be in Vanguard?

[nancy33]

Thank you all very helpful

[tawyer]

Do you have a 401k with a current employer or a solo 401k? Do you ever want to fund a backdoor Roth? If the answers are yes, then I would reconsider before transferring your 401k to a Traditional IRA.

[surpasspro]

Our corporate 401k plan which is with Fidelity changed the transparency of their fees.  I didn't know I was paying them for years, but now they show you that recording fee.  Its also based on the amount of money in the account, so the more you have the more you will be charged.  This is part of having a 401k with your company and I don't think you can just move it and still continue contributing to your employer plan.  If you stop the contribution, then you can roll it over.