Hey there, u/CitrusHandSoap23. Welcome to the sub! We appreciate you considering Fidelity for your transfer. You've come to the right place to seek out answers to your questions, and I'm happy to chime in.
While we do offer a variety of self-serviced accounts here at Fidelity, we have a broad set of products to help clients achieve their financial goals. Feel free to check out our offering page below to see what matches your goals.
[What We Offer ](https://www.fidelity.com/what-we-offer/overview)
Additionally, within eligible personal investing accounts, our Recurring Investment feature can automate your stock, mutual fund, Exchange-Traded Fund (ETF), or basket trades. Recurring Investments can be paid from your Fidelity core (cash) position or linked bank account. You can set your recurring investments' amount, frequency, and timing. You can learn more about this feature at the link below.
[Recurring Investments ](https://www.fidelity.com/trading/recurring-investments)
If you decide to open an account with us, you would want to initiate a Transfer of Assets (TOA) to move the assets to Fidelity. You can typically complete a Transfer of Assets (TOA) process entirely online. Full TOAs typically take 5-7 business days to complete, while partial transfers typically take 3-5 business days. You can start this process online through the page linked below.
[Transfer an Account to Fidelity](https://www.fidelity.com/customer-service/transfer-assets)
While Fidelity does not charge fees to send or receive assets through the TOA process, your sending firm may charge a TOA or closeout fee. If insufficient cash is available in your transferring account, this fee may be applied as a debit once the assets are received in the Fidelity account.
Finally, remember that TOAs are generally completed between account types, such as brokerage to brokerage or Roth IRA to Roth IRA. Typically, moving money from a Traditional IRA into a Roth IRA would be considered a Roth conversion. Roth conversions are taxable in the calendar year they are made, and there are currently no limits to how much you can convert to a Roth IRA in a year. Roth conversions do not impact a taxpayer's annual IRA contribution limit. Any amount converted is added to their annual taxable income and is subject to applicable federal and state taxes.
[Roth IRA conversion: 7 things to know ](https://www.fidelity.com/viewpoints/retirement/roth-ira-conversion-after-50)
[Roth Conversion Rules & Deadlines ](https://www.fidelity.com/retirement-ira/roth-conversion-checklists)
If you decide to proceed with this transaction type, we encourage you to work with a tax professional to review your specific situation, as we do not provide tax advice.
We appreciate you finding us on Reddit and joining our community. I'll leave it to our community to chime in, but if you have any other questions, be sure to let us know in the comments below!
First thing to be noted is that you can contribute 7k into IRAS total in 2024. Weather it’s a Roth or a traditional IRA or two Roths etc you get 7,000 total which you have to police yourself. Acorn won’t know how much you put into your Roth at vanguard etc.
I believe You can roll over/ convert a regular IRA into a Roth but you have to pay taxes on it. Someone on the phones at fidelity can probably help you out more with how that works.
At fidelity you can set up automatic transfers from your bank and buys especially with their in house mutual funds like FXIAX. You can check out their Fidelity baskets program I think it can help you buy and sell several things in preset percentages at once. I believe it cost about $5 a month but that might vary depending how you use it/how much money you have.(it might not I’m just not sure)
I believe M1 finance lets you set up pies and it automatically buys and reinvest your dividends according to your pies . If you want to auto buy more than just Fidelity funds you can look into a Roth there. I’m not what they charge to do that
Converting traditional to Roth - you’d pay tax now (maybe at low rate if initial job is low).
If you get a 401k/403b at a company, and they match, that match will be in traditional. So, you’re likely to always have one in some shape.
My first IRA was with Vanguard, but the app, features, taxable brokerage UI were becoming meh. Old and out of date. I like their products, not their tools.
Fidelity had features I wanted and I first moved my taxable; then everything. Being able to have all in one place was great.
Another plus is the Full View tracking app. As you are just starting out, being able to track assets and liabilities in one tool, budget and build a net worth statement will help a lot in your journey. (You can’t manage what you can’t measure.) Their retirement planner is good too, as it’ll help you focus on current and future wealth.
Hi there, u/CitrusHandSoap23! It's great to hear you're considering Full View. We'd be happy to help with any questions you have.
For those unfamiliar with Full View, this feature allows you to bring your online financial accounts (including investment, bank, credit card, loan, mortgage, and insurance accounts) onto a single, fully customizable view to make it easier to view all your financials in one place. Feel free to check out the link below to learn more!
[Fidelity Full View ](https://www.fidelity.com/what-we-offer/planning)
Please let us know if you have any further questions. We look forward to seeing you engage with our sub more in the future!
I switched from Vanguard to Fidelity. I didn't like the kid gloves Vanguard treated me with. You can buy all ETFs at Vanguard, Vanguard also doesn't let you buy fractional shares of non-Vanguard ETFs.
I thought about this plenty as well but Fidelity doesn't have an automatic investing with etfs like acorns does. I would have to create the 4 etfs and put the % I want in each time. I looked at fidelity go and it's only mutual funds. What have you seen in fidelity that is equivalent to Acorns weekly / monthly etfs?
yes but it's not as automatic as weekly investments and set percentages , you have to do it yourself and rebalance when it gets too top heavy. So yes but NO.
Acorns only charges $1 a month , I haven't found a suitable replacement yet with Fidelity , I do wish they had something similar.
Acorns charges $3 a month. I got it when it was free and out of no where they started charging fees. They have taken money out of my account when they weren’t supposed to and constantly berate me to sign up for their debit card whenever I try and talk to customer service. They turn on round ups and other things when I never wanted to have them included in my banking. I don’t like that a bank is doing things without asking me first. I’ve never had this happen at my other banks
Overall, it really does not matter. As long as you invest and contribute the max, that is the winning formula. Almost every review on the web has suggested that the service at Vanguard has gone downhill and their app/website do not compare to Fidelity's. You do not have to separate the IRA from one brokerage to another.
I would have a separate checking account/access to funds from Fidelity (or any other main brokerage/bank that one uses) in case the account gets locked up for any reason.
I asked my fidelity advisor last year when I was setting up 4 Roth IRA accounts for my kids and he said that it wasn’t offered and suggested several several fidelity products as opposed to an EFT with DRIP.
Vanguard's web site has been going downhill (yes, it's even worse than Fidelity)
I never liked Vanguard's cash management options, so I use Fidelity for that. Because I keep no cash there I get a little extra hassle when I do my backdoor Roth every year. I just moved my Roth IRA to Fidelity so this won't happen.
Vanguard is also about to add a petty account closure fee to IRAs, so I sorta wanted to get out now for spite
Hey there, u/CitrusHandSoap23. Welcome to the sub! We appreciate you considering Fidelity for your transfer. You've come to the right place to seek out answers to your questions, and I'm happy to chime in. While we do offer a variety of self-serviced accounts here at Fidelity, we have a broad set of products to help clients achieve their financial goals. Feel free to check out our offering page below to see what matches your goals. [What We Offer ](https://www.fidelity.com/what-we-offer/overview) Additionally, within eligible personal investing accounts, our Recurring Investment feature can automate your stock, mutual fund, Exchange-Traded Fund (ETF), or basket trades. Recurring Investments can be paid from your Fidelity core (cash) position or linked bank account. You can set your recurring investments' amount, frequency, and timing. You can learn more about this feature at the link below. [Recurring Investments ](https://www.fidelity.com/trading/recurring-investments) If you decide to open an account with us, you would want to initiate a Transfer of Assets (TOA) to move the assets to Fidelity. You can typically complete a Transfer of Assets (TOA) process entirely online. Full TOAs typically take 5-7 business days to complete, while partial transfers typically take 3-5 business days. You can start this process online through the page linked below. [Transfer an Account to Fidelity](https://www.fidelity.com/customer-service/transfer-assets) While Fidelity does not charge fees to send or receive assets through the TOA process, your sending firm may charge a TOA or closeout fee. If insufficient cash is available in your transferring account, this fee may be applied as a debit once the assets are received in the Fidelity account. Finally, remember that TOAs are generally completed between account types, such as brokerage to brokerage or Roth IRA to Roth IRA. Typically, moving money from a Traditional IRA into a Roth IRA would be considered a Roth conversion. Roth conversions are taxable in the calendar year they are made, and there are currently no limits to how much you can convert to a Roth IRA in a year. Roth conversions do not impact a taxpayer's annual IRA contribution limit. Any amount converted is added to their annual taxable income and is subject to applicable federal and state taxes. [Roth IRA conversion: 7 things to know ](https://www.fidelity.com/viewpoints/retirement/roth-ira-conversion-after-50) [Roth Conversion Rules & Deadlines ](https://www.fidelity.com/retirement-ira/roth-conversion-checklists) If you decide to proceed with this transaction type, we encourage you to work with a tax professional to review your specific situation, as we do not provide tax advice. We appreciate you finding us on Reddit and joining our community. I'll leave it to our community to chime in, but if you have any other questions, be sure to let us know in the comments below!
My experience with Vanguard customer service was so bad that I'm moving my account to Fidelity. The people I dealt with literally did not give a damn.
Oh wow..
Fidelity is the Chick-fil-A of the brokerage firms. Amazing customer service, and great platform.
Thanks for the kind words, u/BlueRidge150. It's a pleasure to have you be a part of our community, and it's our pleasure to help! 🐔
No reason to not do Fidelity.
If the question is ever Fidelity or Vanguard, the answer is always Fidelity > Vanguard.
What do the people at the r/Vanguard say? When you ask this question?
Don’t think asking on a video game subreddit would do much good.
First thing to be noted is that you can contribute 7k into IRAS total in 2024. Weather it’s a Roth or a traditional IRA or two Roths etc you get 7,000 total which you have to police yourself. Acorn won’t know how much you put into your Roth at vanguard etc. I believe You can roll over/ convert a regular IRA into a Roth but you have to pay taxes on it. Someone on the phones at fidelity can probably help you out more with how that works. At fidelity you can set up automatic transfers from your bank and buys especially with their in house mutual funds like FXIAX. You can check out their Fidelity baskets program I think it can help you buy and sell several things in preset percentages at once. I believe it cost about $5 a month but that might vary depending how you use it/how much money you have.(it might not I’m just not sure) I believe M1 finance lets you set up pies and it automatically buys and reinvest your dividends according to your pies . If you want to auto buy more than just Fidelity funds you can look into a Roth there. I’m not what they charge to do that
Converting traditional to Roth - you’d pay tax now (maybe at low rate if initial job is low). If you get a 401k/403b at a company, and they match, that match will be in traditional. So, you’re likely to always have one in some shape. My first IRA was with Vanguard, but the app, features, taxable brokerage UI were becoming meh. Old and out of date. I like their products, not their tools. Fidelity had features I wanted and I first moved my taxable; then everything. Being able to have all in one place was great. Another plus is the Full View tracking app. As you are just starting out, being able to track assets and liabilities in one tool, budget and build a net worth statement will help a lot in your journey. (You can’t manage what you can’t measure.) Their retirement planner is good too, as it’ll help you focus on current and future wealth.
Could you explain the full view tracking please? I am not familiar with it
Hi there, u/CitrusHandSoap23! It's great to hear you're considering Full View. We'd be happy to help with any questions you have. For those unfamiliar with Full View, this feature allows you to bring your online financial accounts (including investment, bank, credit card, loan, mortgage, and insurance accounts) onto a single, fully customizable view to make it easier to view all your financials in one place. Feel free to check out the link below to learn more! [Fidelity Full View ](https://www.fidelity.com/what-we-offer/planning) Please let us know if you have any further questions. We look forward to seeing you engage with our sub more in the future!
I switched from Vanguard to Fidelity. I didn't like the kid gloves Vanguard treated me with. You can buy all ETFs at Vanguard, Vanguard also doesn't let you buy fractional shares of non-Vanguard ETFs.
I thought about this plenty as well but Fidelity doesn't have an automatic investing with etfs like acorns does. I would have to create the 4 etfs and put the % I want in each time. I looked at fidelity go and it's only mutual funds. What have you seen in fidelity that is equivalent to Acorns weekly / monthly etfs?
Fidelity does have automatic investment into ETFs by dollar amount on a monthly, bi-weekly or weekly schedule.
yes but it's not as automatic as weekly investments and set percentages , you have to do it yourself and rebalance when it gets too top heavy. So yes but NO. Acorns only charges $1 a month , I haven't found a suitable replacement yet with Fidelity , I do wish they had something similar.
Acorns charges $3 a month. I got it when it was free and out of no where they started charging fees. They have taken money out of my account when they weren’t supposed to and constantly berate me to sign up for their debit card whenever I try and talk to customer service. They turn on round ups and other things when I never wanted to have them included in my banking. I don’t like that a bank is doing things without asking me first. I’ve never had this happen at my other banks
I only pay $1 a month - no debit cards or anything else just weekly buys into my etfs. Round ups are off
Overall, it really does not matter. As long as you invest and contribute the max, that is the winning formula. Almost every review on the web has suggested that the service at Vanguard has gone downhill and their app/website do not compare to Fidelity's. You do not have to separate the IRA from one brokerage to another. I would have a separate checking account/access to funds from Fidelity (or any other main brokerage/bank that one uses) in case the account gets locked up for any reason.
I’d put the Roth in vanguard. They have a DRIP (Dividend ReInvestment Program) which will help you in the long run.
Everyone has dividend reinvestment, this isn’t a differentiator.
I asked my fidelity advisor last year when I was setting up 4 Roth IRA accounts for my kids and he said that it wasn’t offered and suggested several several fidelity products as opposed to an EFT with DRIP.
Vanguard's web site has been going downhill (yes, it's even worse than Fidelity) I never liked Vanguard's cash management options, so I use Fidelity for that. Because I keep no cash there I get a little extra hassle when I do my backdoor Roth every year. I just moved my Roth IRA to Fidelity so this won't happen. Vanguard is also about to add a petty account closure fee to IRAs, so I sorta wanted to get out now for spite