Give Up Wellington at HSA Bank to go to Fidelity?

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J295
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Joined: Sun Jan 01, 2012 11:40 pm

Give Up Wellington at HSA Bank to go to Fidelity?

Post by J295 »

We fund our HSA and it is at HSA Bank invested in Wellington. We don't use the $$ to pay current medical expenses, so the balance is now around $60k and will grow ....

Should we switch to Fidelity? I know there is the master thread on Fidelity's new health savings account, but it's so long!! :happy

We are inclined to sit tight (and honestly don't even know what the actual account fees are but recall not being shocked when I saw them ... shame!!)

Thank you.
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RickBoglehead
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Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by RickBoglehead »

Fidelity is free. Do an in-kind transfer once you figure out your current fees.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
Silk McCue
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Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by Silk McCue »

So ... there is an existing long thread on Fidelity HSA with comments as recent as yesterday which likely provides lots of really good information on this topic, but you don't want to take time to read through it to figure out if this would be a good move for you, but you do want others to come here and take time to respond to you here?

I recommend you scan the existing thread to get the broadest set of responses and opinions.

viewtopic.php?t=263661

Cheers
Topic Author
J295
Posts: 2613
Joined: Sun Jan 01, 2012 11:40 pm

Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by J295 »

Silk McCue » Thu Jan 31, 2019 6:35 am

So ... there is an existing long thread on Fidelity HSA with comments as recent as yesterday which likely provides lots of really good information on this topic, but you don't want to take time to read through it to figure out if this would be a good move for you, but you do want others to come here and take time to respond to you here?

I recommend you scan the existing thread to get the broadest set of responses and opinions.

viewtopic.php?t=263661

Cheers
Yes, you understood correctly. I noted that long post in my original post, and I didn't want to read 882 posts. I was really trying to drill down on whether access to Wellington made saying at HSA Bank a reasonable decision. While I really appreciate the help many provide by posting, no one has to take time to respond to this thread or any of my other posts if they choose not to do so.

I do appreciate the point of each of us doing research and the need for good etiquette I think you are making. Take care.
Corgitodd
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Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by Corgitodd »

I’m facing basically the same dillema only with HSA Authority/Old National Bank. Is it best to liquidate then transfer? Im invested in Wellington Admiral, I assume that Fidelity would charge to keep the money in Wellington Admiral?
Last edited by Corgitodd on Thu Jan 31, 2019 9:54 am, edited 1 time in total.
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hoppy08520
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Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by hoppy08520 »

You can transfer your HSA from HSA Bank / TDA to Fidelity with an in-kind transfer, so you retain your current position in Wellington mutual fund, without paying any trade fee, since you're not trading--you're transferring in-kind. Once at Fidelity HSA, you can reinvest dividends for no added charge.

So, you don't have to "give up" Wellington at all.

Any future purchases of Vanguard mutual funds at Fidelity HSA will incur a high commission (I believe $49.95 for a mutual fund trade) but you can at least keep the position you have at no charge.

So unless you're concerned about future purchases for ongoing contributions into Wellington, then I don't think you have anything to worry about. I think Vanguard ETFs trade commissions at Fidelity are $4.95, FYI
Topic Author
J295
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Joined: Sun Jan 01, 2012 11:40 pm

Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by J295 »

Hadn't considered that possibility. Thanks for the insights Hoppy.
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grabiner
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Re: Give Up Wellington at HSA Bank to go to Fidelity?

Post by grabiner »

It also isn't that important what you hold in your HSA, versus in other accounts. If you like Wellington, you can hold it in your Vanguard IRA, and hold some other Fidelity fund or ETF in your HSA. Your IRA and HSA are both being saved for retirement expenses, so they should be treated as part of the same portfolio for your asset allocation.
Wiki David Grabiner
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