How hard is it to transfer a Roth IRA to Vanguard?

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wootwhoop
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How hard is it to transfer a Roth IRA to Vanguard?

Post by wootwhoop » Thu May 26, 2011 5:03 pm

I currently have my Roth IRA with T Rowe Price. How hard is it to transfer it to Vanguard? I want to use Vanguard's index funds.

hsv_climber
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Post by hsv_climber » Thu May 26, 2011 5:21 pm

You will need to submit an application (print it from Vanguard website) and then you might need to get a signature guarantee from the bank (if T.Rowe Price requires it).
Then send it all to Vanguard and it will be done in a couple of weeks.

Price - 1 USPS stamp.

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TrustNoOne
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Post by TrustNoOne » Thu May 26, 2011 5:24 pm

It is very easy. Just pick up the phone, call and ask them to help you. They are very good at this sort of thing and will do most the work for you. If there is one thing financial institutions are good at its getting your money out of other finanical institutions and into thiers. :D

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Exige
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Post by Exige » Thu May 26, 2011 5:56 pm

basically exacty what hsv said I just did it from scottrade had to get a sig garuntee fill out some forums and mail it to them. then they mail it to scottrade I got a call from scottrade crying about how I should stay I said NEG then they mailed it to vanguard going on about 3 weeks now though :(

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og15F1
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Post by og15F1 » Thu May 26, 2011 5:58 pm

Exige wrote:basically exacty what hsv said I just did it from scottrade had to get a sig garuntee fill out some forums and mail it to them. then they mail it to scottrade I got a call from scottrade crying about how I should stay I said NEG then they mailed it to vanguard going on about 3 weeks now though :(
I also switched from Scottrade to Vanguard. But with much less hassle. The only contact I've had with Scottrade was a postcard a year later or so asking me to come back. Quite easy.

juventussoccr
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Post by juventussoccr » Thu May 26, 2011 6:02 pm

I just transfered my Roth IRA from American Funds to Vanguard about a month ago. I just went on the Vanguard site, opened up an account and told them what I was transferring online.

The whole process took 20 minutes online and then it took about 4 days to process the transfer. Vanguard makes it really easy.

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Exige
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Post by Exige » Thu May 26, 2011 6:13 pm

og15F1 wrote:
Exige wrote:basically exacty what hsv said I just did it from scottrade had to get a sig garuntee fill out some forums and mail it to them. then they mail it to scottrade I got a call from scottrade crying about how I should stay I said NEG then they mailed it to vanguard going on about 3 weeks now though :(
I also switched from Scottrade to Vanguard. But with much less hassle. The only contact I've had with Scottrade was a postcard a year later or so asking me to come back. Quite easy.
Yeah wasnt that bad really although they did seem to take forever to do the transfer on there end almost waiting for me to call back and listen to the begging haha

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kenyan
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Post by kenyan » Thu May 26, 2011 6:26 pm

There could be a fee from TRP - Fidelity charges $50 to close an IRA with them.

allancoleman
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Post by allancoleman » Thu May 26, 2011 6:30 pm

I have done several institute - to - institute Roth transfers from Fidelity and Schwab to Vanguard , wootwhoop . And it didn't even cost me the price of a first class stamp . :) . And after I closed all my Schwab IRA & Roth accounts and Fidelity Roth accounts , I now do regular annual institute - to - institute Roth conversions from my company 401(k) account to my Vanguard Roth account . The beauty of institute - to - institute transfers is that I don't have to talk to my old account reps at Schwab and Fidelity . Give Vanguard a call , they can walk you through it on the phone .

BBSpartan
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How hard is it to transfer a Roth IRA to Vanguard?

Post by BBSpartan » Thu May 26, 2011 6:46 pm

T. Rowe Price charges $10 per account to close out. By consolidating all accounts into my money market account prior to transferring, I saved $70.

It will cost you a week or two out of the market and the $10 for the final account. I could live with that.

steadywaters
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Post by steadywaters » Thu May 26, 2011 6:47 pm

I just got my Roth IRA transferred from Scottrade. It was super quick. My account was up and running in 2 weeks after I mailed in the transfer paperwork.

VGSailor
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Post by VGSailor » Thu May 26, 2011 8:44 pm

i transferred from Ameriprise over to Vanguard and it was very easy. Transferred three accounts in all and they all went smoothly. Up and running in about a couple of weeks.

Most time consuming thing was obtaining medallion signature. After a few days to allow mail to reach Vanguard, I called in to make sure they received the paperwork and that they didn't need anything else.

ronin
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Post by ronin » Thu May 26, 2011 11:36 pm

We transfered one of our Roth IRA's from T. Rowe Price to Vanguard with ease. I recall doing everything via Vanguard's web site; no paper forms/phone calls.

Been very happy with the decision too!

allancoleman
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Post by allancoleman » Fri May 27, 2011 11:05 am

ronin wrote:We transfered one of our Roth IRA's from T. Rowe Price to Vanguard with ease. I recall doing everything via Vanguard's web site; no paper forms/phone calls.

Been very happy with the decision too!
Same with me , ronin , on numerous institute - to - institute company 401(k) / IRA to Roth conversions and Roth - to - Roth transfers . No paperwork or phone calls . Vanguard has a really neat internal email system to track your transactions for you without having to call to figure out where it might happen to be at any given moment . : )

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Ted Valentine
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Post by Ted Valentine » Fri May 27, 2011 11:20 am

juventussoccr wrote:I just transfered my Roth IRA from American Funds to Vanguard about a month ago. I just went on the Vanguard site, opened up an account and told them what I was transferring online.

The whole process took 20 minutes online and then it took about 4 days to process the transfer. Vanguard makes it really easy.
That's the way I did it about 4 years ago. It was very easy to do the transfer electronically online.

I got a worried email from my AF advisor, and I told him thanks for all his help, but I wanted all my accounts together for simplicity.
Although our intellect always longs for clarity and certainty, our nature often finds uncertainty fascinating.

fundtalk
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Post by fundtalk » Fri May 27, 2011 12:37 pm

I've got a Roth and rollover Ira at Scottrade, but haven't bothered to transfer them over to vanguard.

Just out of curiosity, if you have several accounts at vanguard (taxable, Ira, Roth) can you have a single log in ID so that you can see all the balances at once? (not sure if a brokerage is even allowed to do this).

evelynmanley
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Post by evelynmanley » Fri May 27, 2011 1:07 pm

I just transferred an American Funds ROTH to a Vanguard ROTH last week. I called Vanguard, and the rep called American Funds and verified that there would be no closing fee or penalties. The Vanguard rep then walked me through the online application, and that was that. Very satisfactory.

fundtalk: I have two Vanguard accounts--a Roth and an IRA--and can see them both onscreen with my one ID.

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Guest422
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Post by Guest422 » Fri May 27, 2011 1:25 pm

I initiated a transfer of a roth and trad from schwab to vg from the vg side a couple of years ago and it was painless.
"The hardest victory is over self" | Aristotle

icefr
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Post by icefr » Sun May 29, 2011 4:31 pm

fundtalk wrote:Just out of curiosity, if you have several accounts at vanguard (taxable, Ira, Roth) can you have a single log in ID so that you can see all the balances at once? (not sure if a brokerage is even allowed to do this).
Yes. I have my 401(k), Roth IRA, Traditional IRA, and taxable accounts at Vanguard and I can see them all on one page, with one login and password. It's quite convenient.

downwithfidel
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Post by downwithfidel » Sun May 29, 2011 5:46 pm

icerfr wrote:
Yes. I have my 401(k), Roth IRA, Traditional IRA, and taxable accounts at Vanguard and I can see them all on one page, with one login and password. It's quite convenient.

Is anyone concerned about having ALL your accounts with a single firm?

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Guest422
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Post by Guest422 » Sun May 29, 2011 6:11 pm

At vanguard each fund is setup like a seperate entitiy
"The hardest victory is over self" | Aristotle

blevine
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Post by blevine » Sun May 29, 2011 6:48 pm

icefr wrote:
fundtalk wrote:Just out of curiosity, if you have several accounts at vanguard (taxable, Ira, Roth) can you have a single log in ID so that you can see all the balances at once? (not sure if a brokerage is even allowed to do this).
Yes. I have my 401(k), Roth IRA, Traditional IRA, and taxable accounts at Vanguard and I can see them all on one page, with one login and password. It's quite convenient.
If you have a Vanguard Brokerage acct, you can see that too, same login.
They also let you link in to someone else's acct such as a spouse.
My wife logged on, gave them my name/etc and now I can see/transact
in her accts. Couldn't be any easier.

RADO
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Post by RADO » Tue May 31, 2011 11:48 am

do it.

RADO
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Post by RADO » Tue May 31, 2011 11:49 am

*just do it.

downwithfidel
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Post by downwithfidel » Tue May 31, 2011 11:13 pm

kevintmckay wrote:
At vanguard each fund is setup like a seperate entitiy
So each fund one owns is insured against malfeasance?

Poppy
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Re: How hard is it to transfer a Roth IRA to Vanguard?

Post by Poppy » Thu Mar 13, 2014 11:17 am

BTW: In order to avoid the $50 "closure" fee from Fidelity, you can move just part of the IRA to Vanguard. That way you can maintain some of the account history with Fidelity.

But I have a question too--- does one have to sell positions to cash before moving them? Or can you transfer them in the funds that they are currently in? Thanks.

placeholder
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Re: How hard is it to transfer a Roth IRA to Vanguard?

Post by placeholder » Thu Mar 13, 2014 5:03 pm

In fact you can move all of it but don't close the account as they charge a fee for that see:

http://www.onlinebrokerrev.com/commissi ... r-fees.php

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