Advice on moving ETFs out of TradeKing

[money]

A few years ago I bought several Vanguard ETFs through free trades at a brokerage that offered 10 free trades and the brokerage subsequently got bought by TradeKing. What would be the best way to move these ETFs to avoid account closing fees and capital gains? I would like to add to these positions again in the near future with a brokerage that offers free ETF trades.

Edit: I also have accounts at TD Ameritrade and Vanguard

Another related issue: If someone has a low/no fee brokerage to recommend to transfer some funds I have in an IRA such as POAGX, DODGX, DODFX, I would appreciate hearing about it. Thanks!

[sweep the leg]

You should be able to initiate the transfer through the site you're transferring to. I followed some links for transferring funds on the Vanguard website -- I had to print and mail some forms, but the process was overall painless. (Note that I transferred from Zecco before they became TradeKing.)

[money]

Vanguard could be one option, however, I would probably get hit with a $50 account closing fee by TradeKing... I am wondering if there is another option.

[skibbi9]

Vanguard could be one option, however, I would probably get hit with a $50 account closing fee by TradeKing... I am wondering if there is another option.

schwab is 'refunding' relocation fees with $$ and free trades for the next few months... its a option.

[cjackson0]

Vanguard could be one option, however, I would probably get hit with a $50 account closing fee by TradeKing... I am wondering if there is another option.

schwab is 'refunding' relocation fees with $$ and free trades for the next few months... its a option.

Most discount brokerages will reimburse account closing fees if you transfer your account to them, especially if you open up an IRA with them around tax time.

I have my IRA at Scottrade.

[Default User BR]

Depending on the size of the account, you might be able to get a bonus to move your assets. Possibly some introductory free trades too.

You might want to review this:
http://thefinancebuff.com/huge-bonus-offers-from-brokers-fidelity-schwab-td-ameritrade-etrade-merrill-edge.html


Brian

[money]

Thanks for the link, some good info there...

I also have accounts at TD Ameritrade and Vanguard (edited initial post). TD Ameritrade offers free trades for the Vanguard ETFs I am holding, so that could be an option, but I do not see an offer for reimbursement, and I already have an account there, so they might not anyway (amount is ~$6K). If I transfer to Vanguard, that would also help contribute to Voyager status since I am in the process of consolidating my IRA/401K accounts to Vanguard. I guess if TD Ameritrade would reimburse an ACAT, I could do a partial ACAT later on to Vanguard if I felt the need. Otherwise, maybe I should just eat the $50 and move the ETFs directly to Vanguard.

[Default User BR]

Thanks for the link, some good info there...

I also have accounts at TD Ameritrade and Vanguard (edited initial post). TD Ameritrade offers free trades for the Vanguard ETFs I am holding, so that could be an option, but I do not see an offer for reimbursement, and I already have an account there, so they might not anyway (amount is ~$6K).

The best way to find out is to ask. Call them, tell them you have some money to move with a closing fee and you would move it somewhere that covers the fee. They might or might not.


Brian

[money]

I spoke with TD Ameritrade and they said they would cover the fee if I send in a request for them to reimburse the fee after the transfer is completed. It looks like later, I have the option to do a free partial transfer for the Vanguard ETFs if I feel like I want to have the funds at Vanguard. I will at least cut down one account by doing this transfer.