Best Rollover IRA Providers
Rolling your old 401(k) over into an IRA can give you more control over your investments. Here's a list of the best brokers for an IRA rollover.
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When leaving a job, many people also leave their most valuable retirement asset behind: their 401(k), which sits where it is until retirement, quietly amassing fees.
But you can — and in most cases should — roll your 401(k) over to an IRA. Depending on your plan and what you'd like to invest in, 401(k) fees can be high. You may save money and find a wider range of investment options by rolling it over to an IRA.
The toughest part is usually choosing an IRA account provider, but that’s where we come in. Here are NerdWallet’s picks for the best IRA providers for your IRA rollover.
Why trust NerdWallet
When leaving a job, many people also leave their most valuable retirement asset behind: their 401(k), which sits where it is until retirement, quietly amassing fees.
But you can — and in most cases should — roll your 401(k) over to an IRA. Depending on your plan and what you'd like to invest in, 401(k) fees can be high. You may save money and find a wider range of investment options by rolling it over to an IRA.
The toughest part is usually choosing an IRA account provider, but that’s where we come in. Here are NerdWallet’s picks for the best IRA providers for your IRA rollover.
Why trust NerdWallet
Rollovers from a 401(k) don't count toward the annual IRA contribution limits. In addition to the rollover, you can directly contribute up to a maximum of $7,000 for 2024 and 2025 ($8,000 if age 50 or older).
Best Rollover IRA Providers
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Robinhood IRA Learn more on Robinhood's website | Best for Matching contributions | $0 | $0 | 1% match on eligible contributions up to IRA contribution limits. | Learn more on Robinhood's website |
 Charles Schwab Learn more on Charles Schwab's website | Best for Hands-On Investors | $0 per online equity trade | $0 | None no promotion available at this time | Learn more on Charles Schwab's website |
 Vanguard Digital Advisor Learn more on Vanguard's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | 0.15% per year
(approximately) | $100 | No advisory fees your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $100) | Learn more on Vanguard's website AD Paid non-client promotion |
 Interactive Brokers IBKR Lite Learn more on Interactive Brokers' website | Best for Hands-On Investors | $0 per trade | $0 | None no promotion available at this time | Learn more on Interactive Brokers' website |
 E*TRADE IRA Learn more on E*TRADE's website | Best for Hands-On Investors | $0 per trade. Other fees apply. | $0 | None no promotion available at this time | Learn more on E*TRADE's website |
Our pick for
Matching contributions
$0
$0
1% match
on eligible contributions up to IRA contribution limits.
Pros
Commission-free stock, options and ETF trades.
IRA with 1% match (3% for Gold members).
Streamlined interface.
Investment recommendations available for IRA portfolios.
High interest rate on uninvested cash.
Cons
No mutual funds or individual bonds.
Why We Like It
Robinhood shook up the IRA market with its 1% match on contributions — an offer that is typically only common among employer retirement plans.
4.4
/5Reviewed in: Nov. 2024
Period considered: Oct. - Nov. 2024
on SoFi Invest's website
AD
Paid non-client promotion
0.25%
management fee
$50
1% match on rollovers and contributions
Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.
Pros
Access to certified financial planners.
1% match on IRA rollovers and contributions.
Range of portfolio options.
Access to socially responsible investments and alternative investments.
Cons
No tax-loss harvesting.
Why We Like It
A low management fee that includes access to financial advisors and career counselors makes SoFi Automated Investing a solid choice for beginning and younger investors.
Our pick for
Hands-On Investors
$0
per online equity trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Large selection of no-transaction-fee mutual funds.
Strong retirement planning tools.
Cons
Low interest rate on uninvested cash.
High fee for transaction-fee funds.
Why We Like It
Charles Schwab is one of the best overall IRA providers, with high-quality customer service, no account minimum and low fees. The company offers a large selection of no-transaction-fee funds, gives users access to extensive research and charges no commission for stock, options and ETF trades.
Best Online Broker for Advanced Traders 2024
$0
per trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Large investment selection.
Strong research and tools.
Huge selection of no-transaction-fee mutual funds.
High order execution quality.
Cons
High minimum to earn interest on uninvested cash.
Website can be difficult to navigate.
Why We Like It
Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 19,000 mutual funds, and a well-featured platform.
$0
per trade
$0
Get up to $700
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.
Pros
Commission-free stock, options and ETF trades.
Easy-to-use platform.
App connects all Chase accounts.
In-person customer support at Chase branches.
Cons
Bare-bones trading platform isn't for advanced traders.
Low interest rate on uninvested cash.
Why We Like It
J.P. Morgan Self-Directed Investing is a clear-cut investment platform that is great for beginners looking to learn how to buy and sell investments. More advanced investors, however, may find it lacking in terms of available assets, tools and research. INVESTMENT PRODUCTS: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
$0
per trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Leader in low-cost mutual, index and exchange-traded funds.
High interest rate on uninvested cash.
High order execution quality.
Cons
Basic trading platform only.
Limited research and data.
No fractional shares for stocks.
Why We Like It
Vanguard is the king of low-cost investing, making it ideal for buy-and-hold and retirement investors. It offers a top-notch selection of proprietary, low-cost mutual funds, including many ESG options. Despite its $0 trade commission, active traders will find the broker falls short due to the lack of a strong trading platform.
Best Broker for IRA Investors 2024
$0
no account fees to open a Fidelity retail IRA
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Offers several index funds with no expense ratios.
Helpful retirement planning tools.
Strong customer support.
Free research and data.
High interest rate on uninvested cash.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Many investors are familiar with Fidelity as a provider of 401(k) plans — the broker is one of the biggest names in employee retirement accounts. It can be convenient to also have an IRA under the same roof, because you'll be able to seamlessly view all account balances in one place. But even for those who don't have a 401(k) with Fidelity, the company offers access to low-cost retirement investments (including no-fee, no-minimum index funds) and innovative tools to help you plan for retirement and check in on your progress.
Our pick for
Hands-Off Investors
Best Robo-Advisor for Low-Cost Investing 2024
4.8
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Vanguard's website
AD
Paid non-client promotion
0.15%
per year (approximately)
$100
No advisory fees
your first 90 days of Vanguard Digital Advisor investment management (Enrollment requires a Vanguard account with a minimum of $100)
Pros
Access to Vanguard’s investing expertise and ETFs.
Low portfolio management fee.
Low investment expense ratios.
Cons
Limited portfolio options and customization.
$100 account minimum.
Why We Like It
Vanguard Digital Advisor is an affordable robo-advisory service that uses several of Vanguard’s key ETFs to create a personalized retirement plan and portfolio. But Vanguard Digital Advisor doesn't offer much portfolio customization or access to a human advisor.
4.9
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Ellevest's website
AD
Paid non-client promotion
$12
per month
$0
2 months free
with promo code "nerdwallet"
Pros
Goal-focused investing approach.
Portfolio mix that factors women’s needs.
Members get discounted sessions with certified financial planners.
No account minimum.
Wealth management offering available for higher-net-worth investors.
Cons
No tax-loss harvesting.
Some portfolios have minimum investment requirements.
Why We Like It
Ellevest offers a single flat-fee plan which costs $12 a month. Clients get discounted access to professional financial planning, alongside free educational resources and the only investing platform that factors in women’s pay gaps, career breaks and longer lifespans. Ellevest does not include any banking options.
5.0
/5Reviewed in: Oct. 2024
Period considered: Aug. - Oct. 2024
on Betterment's website
AD
Paid non-client promotion
0.25%
with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month.
$0
$10 to start
Get 1% match
of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply.
Pros
Multiple investment options.
Robust goal-based tools.
Fractional shares limit uninvested cash in portfolios.
Low management fee.
Cons
Additional fee for access to financial advisors.
Why We Like It
Betterment offers a powerful combination of goal-based tools, affordable management fees and no account minimum. Betterment has a wide range of investments, including socially responsible and crypto portfolios and gives clients access to Roth, traditional, inherited, rollover and SEP IRAs.
5.0
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Wealthfront's website
AD
Paid non-client promotion
0.25%
management fee
$500
Get a $50 customer bonus
when you fund your first taxable investment account
Pros
Get $50 customer bonus when you fund your first taxable investment account (NerdWallet promotion).
Automatic rebalancing.
Digital financial planning tools.
Low management fee.
Cons
No access to human advisors.
No fractional shares.
Why We Like It
Wealthfront is our highest-scoring robo-advisor thanks to its blend of automated investment portfolios and DIY stock investing portfolios, its wide variety of account options, excellent tax strategy and low management fee. Wealthfront offers Roth, traditional, rollover and SEP IRAs, along with backdoor Roth conversions and 401(k) rollovers.
Want to compare more options? Here are our other top picks:
Last updated on November 1, 2024
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating providers and our processes, read our full broker ratings methodology and our full robo-advisor ratings methodology
To recap our selections...
NerdWallet's Best Rollover IRA Providers
- Robinhood IRA: Best for Matching contributions
- Charles Schwab: Best for Hands-On Investors
- Vanguard Digital Advisor: Best for Hands-Off Investors
- Interactive Brokers IBKR Lite: Best for Hands-On Investors
- E*TRADE IRA: Best for Hands-On Investors
- J.P. Morgan Self-Directed Investing: Best for Hands-On Investors
- Ellevest: Best for Hands-Off Investors
- Betterment IRA: Best for Hands-Off Investors
- Vanguard: Best for Hands-On Investors
- Wealthfront IRA: Best for Hands-Off Investors
- SoFi Automated Investing: Best for Matching contributions
- Merrill Edge® Self-Directed: Best for Hands-On Investors
- Fidelity IRA: Best for Hands-On Investors
- Schwab Intelligent Portfolios®: Best for Hands-Off Investors
