Transfer old Roth IRA to vanguard

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Trinidiva
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Transfer old Roth IRA to vanguard

Post by Trinidiva » Sun Jul 23, 2017 4:55 pm

I recently transferred my old Roth IRA from Primerica (clearbridge funds) to Vanguard
Can I now buy Vanguard funds or I am stuck with Clearbridge funds?

jcerickson
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Re: Transfer old Roth IRA to vanguard

Post by jcerickson » Sun Jul 23, 2017 7:53 pm

"I recently transferred my old Roth IRA from Primerica (clearbridge funds) to Vanguard
Can I now buy Vanguard funds or I am stuck with Clearbridge funds?"

Trinidiva,

Now that you've opened a Vanguard account, you can invest in the Vanguard funds of your choice. However, the steps involved in getting to the point of owning Vanguard funds in your new Roth account will depend on "how" you transferred your old Roth from Primerica: if you sold the Clearbridge funds and transferred cash to Vanguard, you're all set to buy what you want in the new Roth. If you transferred over the actual Clearbridge funds "in kind", then you will have to sell them in your Vanguard Roth and then purchase what you want.

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David Jay
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Re: Transfer old Roth IRA to vanguard

Post by David Jay » Sun Jul 23, 2017 8:00 pm

You can sell the Clearbridge funds (there will likely be a sales charge, up to $25 per fund) as you choose. You may purchase Vanguard funds with the proceeds.

In a Roth IRA, there are no tax implications, the sales charge is the only consideration.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

Nate79
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Re: Transfer old Roth IRA to vanguard

Post by Nate79 » Sun Jul 23, 2017 11:41 pm

A vanguard account is a brokerage account. You can buy any stock, bond, mutual fund, etc, etc that you wish.

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ruralavalon
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Re: Transfer old Roth IRA to vanguard

Post by ruralavalon » Mon Jul 24, 2017 10:29 am

Welcome to the forum :) .
Trinidiva wrote:I recently transferred my old Roth IRA from Primerica (clearbridge funds) to Vanguard
Can I now buy Vanguard funds or I am stuck with Clearbridge funds?
You are not stuck with the Clearbridge funds, you can sell them and buy whichever Vanguard funds you wish.
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AntsOnTheMarch
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Re: Transfer old Roth IRA to vanguard

Post by AntsOnTheMarch » Mon Jul 24, 2017 10:55 am

I just did this a couple of weeks ago. I transferred a Roth from Janus Henderson to vanguard. Once it surfaced at vanguard, I sold it and bought a vanguard fund. Interestingly, the vanguard website says that my transfer is still in progress. Must be an IT glitch because all transfer steps were completed in a timely and efficient manner well over a week ago.

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David Jay
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Re: Transfer old Roth IRA to vanguard

Post by David Jay » Mon Jul 24, 2017 11:15 am

AntsOnTheMarch wrote: Interestingly, the vanguard website says that my transfer is still in progress. Must be an IT glitch because all transfer steps were completed in a timely and efficient manner well over a week ago.
It will stay that way for a month or so because there may be some dividend payments coming through the pipeline (into the old account). Those will automatically be forwarded to Vanguard, that is why Vanguard, if you will, "leaves the channel open".
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

AntsOnTheMarch
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Re: Transfer old Roth IRA to vanguard

Post by AntsOnTheMarch » Mon Jul 24, 2017 2:04 pm

David Jay wrote:
AntsOnTheMarch wrote: Interestingly, the vanguard website says that my transfer is still in progress. Must be an IT glitch because all transfer steps were completed in a timely and efficient manner well over a week ago.
It will stay that way for a month or so because there may be some dividend payments coming through the pipeline (into the old account). Those will automatically be forwarded to Vanguard, that is why Vanguard, if you will, "leaves the channel open".
Thanks for the tip.

Trinidiva
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Re: Transfer old Roth IRA to vanguard

Post by Trinidiva » Tue Jul 25, 2017 8:40 am

Thanks everyone
Will go now to sell and then buy vanguard funds

westrichj312
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Re: Transfer old Roth IRA to vanguard

Post by westrichj312 » Tue Jul 25, 2017 8:53 am

Just a note with e trade and ameritrade they will buy your old ira transfer or any substantial money you transfer over and you will have more choices and cheaper commissions. 500K gets you a $2,000 credit after 6 months thats what i received a couple years ago.

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