Quick question on switching my Roth

FortFunFoSho

Golden Member
Mar 7, 2002
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All -

Quick question for a roth newb. I just started paying into my Roth about a year ago and have not done much with it aside from setting it up with a friend who is an Edward Jones broker. As of right now I have realized my fees are high and the mutual fund it is in (right now) is not doing much.

I would like to move it into an etrade account where my fees I believe will be lower. Do I have to pay fees to move the already vested money to Etrade? How does that work?

Any advice?

Thank you.
 

kranky

Elite Member
Oct 9, 1999
21,019
156
106
The only way to know if you will pay fees to move from EJ is to see what it says in your EJ account agreement. If there are fees, they'll just subtract them from your balance before they send the money to e-trade.
 

FortFunFoSho

Golden Member
Mar 7, 2002
1,101
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When you transfer though, do they make you re-invest? Or could I take the money I have in one mutual fund over to etrade?
 

kranky

Elite Member
Oct 9, 1999
21,019
156
106
Originally posted by: FortFunFoSho
When you transfer though, do they make you re-invest? Or could I take the money I have in one mutual fund over to etrade?

Go to this e-trade page and search for "Roll Over Securities from Your Old 401(k)".
 

FortFunFoSho

Golden Member
Mar 7, 2002
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Kranky -

Thanks for the link.

It appears I need to sell the assets then transfer that money and re-purchase......
 

Pliablemoose

Lifer
Oct 11, 1999
25,195
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56
No fees for the move.

I have my Roth through eTrade, it's very painless. And IIRC zero fees :D

That reminds me, I need to start funding for 08'

$5K limit this year :D
 

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
Originally posted by: FortFunFoSho
Kranky -

Thanks for the link.

It appears I need to sell the assets then transfer that money and re-purchase......

You can transfer the assets if they're funds eTrade handles. No need to cash out if you don't want to.
 

alien42

Lifer
Nov 28, 2004
12,772
3,166
136
Originally posted by: FortFunFoSho
Originally posted by: alien42
the only piece of advice i can offer is do not use e-trade.

Alien-

any particular reason?
i have or have had brokerage accounts with several companies and e-trade is by far the worst. i still have an e-trade account tied to my employee stock plan and it does not even include realtime data.