Transferring rollover IRA from Vanguard to Fidelity. Hit with fee to sell VTSAX. : personalfinance


I wanted to consolidate accounts so I transferred my rollover IRA at Vanguard to my rollover IRA at Fidelity. I held VTSAX and VTIAX at Vanguard and they came over into Fidelity as the same funds. I went to exchange the Vanguard funds into their Fidelity equivalents just now, but I now have to pay a $75 fee to sell.

Looking back at the process it seems I should have:
*sold the funds at Vanguard to cash
*made the transfer
*purchased Fidelity funds with the transfered cash

At this point I either eat the $150 to sell the two funds or I could transfer the Vanguard funds back, sell them, and transfer the cash back to fidelity? I probably just eat the $150 to avoid the headache though….

Is there any other way to avoid this trap?



Source link

Comments (No)

Leave a Reply