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Help before I "fire" him

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  • Avatar LabralTerror 
    Status: Other Professional
    Posts: 11
    Joined: 07/20/2019
    Earnest refinancing bonus

    I am getting my ducks in a row to transfer my Roth IRA and an inherited IRA from my financial advisor to Vanguard. I want to make sure before doing this that I don’t trigger anything like a wash sale or other issue.

    Currently I already have some money in a Roth IRA account at Vanguard, within a Vanguard TDF fund.

    The advisor-managed funds within my other Roth and Inherited IRA contain Vanguard funds, Ishares, and other non-loaded funds. No taxable account.

    My thought is to have him liquidate any funds not accepted by Vanguard before transferring, transfer the other funds in-kind, then rebalance in low cost index funds or a TDF once everything is brought over.

    Is there anything I need to consider or be careful of as I make this transition?

    #238255 Reply
    CordMcNally CordMcNally 
    Status: Physician
    Posts: 3073
    Joined: 01/03/2017

    You can’t tax loss harvest in a Roth IRA and since you don’t have a taxable account then you don’t currently have to worry about any wash sales. I would just contact Vanguard and have them take care of the transfer. If you do it through your financial advisor, he may guilt trip you into staying.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #238257 Reply
    Avatar Peds 
    Status: Physician
    Posts: 4715
    Joined: 01/08/2016

    depends who charges you more.

    but everything can be moved to cash, then vanguard can pull over, then can be redeployed according to your AA.


    larger view picture, can be more efficient than TDF in rIRA.

    #238271 Reply
    Liked by LabralTerror
    Avatar LabralTerror 
    Status: Other Professional
    Posts: 11
    Joined: 07/20/2019

    Thanks for the comments.

    If I do end up selling all funds before moving over, will I run into any issue if I also go about funding a taxable account at Vanguard about the same time I re-fund the IRAs? Any issue with choosing the same funds, etc?

    #238466 Reply
    Avatar molar roller 
    Status: Dentist
    Posts: 87
    Joined: 05/31/2018

    I would base my decision to liquidate the funds on whether I wanted to keep these funds, not whether they are accepted by Vanguard.

    I routinely move assets in kind between different brokerage houses to take advantage of their bonuses.

    Best Brokerage Bonuses – Earn Up To $3,500

    if you contact a brokerage house directly, they can often offer more than is listed.

    Vanguard doesn’t play that game… so I usually do all my auto-investing in Vanguard to get into Admiral funds, and move them out as needed.

    I don’t know what amounts you are talking about, but there is no reason why Vanguard should be your only brokerage…

    #238487 Reply
    Liked by AZPT
    White.Beard.Doc White.Beard.Doc 
    Status: Physician
    Posts: 966
    Joined: 02/06/2016

    The best way to do this is to move all of the current holdings to a vanguard IRA brokerage account.  You simply do the transfer “in kind”.  You do not have to liquidate anything to cash. I did exactly this with vanguard funds, Ishare funds, etc.

    To do this you simply contact vanguard, set up the IRA brokerage account, and request the transfer.  They do everything else.  Once all the holdings are at Vanguard, you can either leave it alone or change up the investments as you see fit.  Doing the transfer this way is simple and easy as there are no transactions needed, just the transfer.  Personally, I appreciate simplicity and this is simple.

    #238488 Reply
    Liked by AZPT

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