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Roll Your 401(k) Over to an IRA: The Best Providers

Andrea CoombesOctober 20, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our picks for

Hands-On Investors

Merrill Edge IRA

on Merrill Edge's website

on Merrill Edge's website

Fees

$2.95

per trade

Account Minimum

$0

Promotion

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

Merrill Edge offers high-quality customer service, robust research and low fees — all with no account minimum. Customers of parent company Bank of America will love the seamless, thoughtful integration, with a single login to access both accounts.

Pros

  • Robust third-party research.
  • Free trades for Preferred Rewards clients.

Cons

  • $2.95 trade commission.
  • Minimum balance requirement for high-end platform.
Read full review
TD Ameritrade IRA

on TD Ameritrade's website

on TD Ameritrade's website

Fees

$0

per trade

Account Minimum

$0

Promotion

$100-$600

in cash bonus with a qualifying deposit

TD Ameritrade’s $0 commissions, $0 account minimum, wealth of free research and retirement planning tools, and plentiful lineup of no-transaction-fee mutual funds make it an ideal place to set up an IRA. Its library of educational resources and free paper trading account are also great features to help investors hone their skills.

Pros

  • $0 account minimum.
  • Large lineup of no-transaction-fee mutual funds.
  • Good customer support.
  • Commission-free stock, ETF and options trades.

Cons

  • Costly broker-assisted trades.
  • High short-term ETF trading fee.
Read full review
E-Trade IRA

on E-Trade's website

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $600

in cash bonus with a qualifying deposit

Retirement investors will find a lot to love with E-Trade’s IRA offering, including a large line-up of no-trading-fee mutual funds and an extensive library of retirement advice and tools. Plus, there’s no minimum account balance and no fee for stock or ETF trades.

Pros

  • No minimum balance.
  • Extensive research and tools.
  • Commission-free stock, ETF and options trades.
  • 4,400+ no-transaction-fee (NTF) mutual funds.

Cons

  • $19.99 cost for trading non-NTF mutual funds.
Read full review
Interactive Brokers

on Interactive Brokers's website

on Interactive Brokers's website

Fees

$0

per trade

Account Minimum

$0

Promotion

None

No promotion available at this time

Interactive Brokers is a strong option for advanced, frequent traders: The broker offers international trade capabilities, low commissions and a quality trading platform. New traders might be turned off by inactivity fees, high balance requirements and a lack of educational resources.

Pros

  • Free trades.
  • Wide investment selection.
  • Advanced tools on Pro tier.

Cons

  • Complex pricing on some investments.
  • Inactivity fees on Pro tier.
Read full review

Our picks for

Hands-Off Investors

These providers will assemble and manage a custom IRA portfolio for you, all for a modest price.

Wealthfront IRA

on Wealthfront's website

Fees

0.25%

management fee

Account Minimum

$500

Promotion

$5,000

amount of assets managed for free

Wealthfront takes the hassle out of IRA investing. The robo-advisor manages accounts by constructing portfolios out of low-cost ETFs, with a flat and low-cost fee structure that appeals to investors seeking a hands-off approach. What’s more, the company has built client trust by offering free management on the first $5,000 invested (for NerdWallet readers).

Pros

  • First $5,000 managed free (for NerdWallet readers).
  • Automatic rebalancing.
  • Digital financial planning tools.
  • Low management fee.

Cons

  • No large-balance discounts.
  • No access to human advisors.
  • No fractional shares.
Read full review
Betterment IRA

on Betterment's website

Fees

0.25%

management fee

Account Minimum

$0

Promotion

Up to 1 year

of free management with a qualifying deposit

With its low-cost ETFs, automatic rebalancing, extensive tax strategies and retirement advice, Betterment is a strong bet for retirement investors. Betterment’s planning tools include advice on “asset location” — which types of investments are best for different types of accounts — and investors can sync outside accounts, as well.

Pros

  • No account minimum.
  • Robust goal-based tools.
  • Fractional shares limit uninvested cash.
  • Low management fee.

Cons

  • $100,000 minimum and higher fee for access to financial advisors.
Read full review
Sofi Automated Investing

on Sofi Wealth's website

Fees

0%

management fee

Account Minimum

$100

Promotion

Free

career counseling plus loan discounts with qualifying deposit

SoFi Automated Investing is great for beginning, cost-conscious investors who favor a hand-off approach. Plus, as a customer you could be eligible for bonuses on other SoFi products.

Pros

  • Broad range of low-cost investments.
  • Free management through 2019.
  • Automatic rebalancing.
  • Customer support.
  • Access to certified financial planners.

Cons

  • Limited account types.
  • No tax-loss harvesting.
Read full review

Want to compare more options? Here are our other top picks:

Summary of Roll Your 401(k) Over to an IRA: The Best Providers

BrokerCommissionsPromotionAccount MinimumLearn More
Merrill Edge IRA Logo

Merrill Edge IRA

on Merrill Edge's website

$2.95

per trade

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$0

per trade

$100-$600

in cash bonus with a qualifying deposit

$0

on TD Ameritrade's website

E-Trade IRA Logo

E-Trade IRA

on E-Trade's website

$0

per trade

Up to $600

in cash bonus with a qualifying deposit

$0

on E-Trade's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0

per trade

None

No promotion available at this time

$0

on Interactive Brokers's website

Vanguard Brokerage Logo

Vanguard Brokerage

$7.00

per trade

None

no promotion available at this time

$0

Read review
Schwab Brokerage IRA Logo

Schwab Brokerage IRA

$0

per trade

None

No promotion at this time

$0

Read review
Fidelity IRA Logo

Fidelity IRA

$0

500

free trades with a qualifying deposit

$0

Read review
T. Rowe Price Logo

T. Rowe Price

$19.95

per trade

None

no promotion available at this time

$2,500

Read review
Wealthfront IRA Logo

Wealthfront IRA

on Wealthfront's website

0.25%

management fee

$5,000

amount of assets managed for free

$500

on Wealthfront's website

Betterment IRA Logo

Betterment IRA

on Betterment's website

0.25%

management fee

Up to 1 year

of free management with a qualifying deposit

$0

on Betterment's website

Sofi Automated Investing Logo

Sofi Automated Investing

on Sofi Wealth's website

0%

management fee

Free

career counseling plus loan discounts with qualifying deposit

$100

on Sofi Wealth's website

Ally Invest IRA Logo

Ally Invest IRA

$0

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

Read review
BrokerCommissionsPromotionAccount MinimumLearn More
Merrill Edge IRA Logo

Merrill Edge IRA

on Merrill Edge's website

$2.95

per trade

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$0

per trade

$100-$600

in cash bonus with a qualifying deposit

$0

on TD Ameritrade's website

E-Trade IRA Logo

E-Trade IRA

on E-Trade's website

$0

per trade

Up to $600

in cash bonus with a qualifying deposit

$0

on E-Trade's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0

per trade

None

No promotion available at this time

$0

on Interactive Brokers's website

Vanguard Brokerage Logo

Vanguard Brokerage

$7.00

per trade

None

no promotion available at this time

$0

Read review
Schwab Brokerage IRA Logo

Schwab Brokerage IRA

$0

per trade

None

No promotion at this time

$0

Read review
Fidelity IRA Logo

Fidelity IRA

$0

500

free trades with a qualifying deposit

$0

Read review
T. Rowe Price Logo

T. Rowe Price

$19.95

per trade

None

no promotion available at this time

$2,500

Read review
Wealthfront IRA Logo

Wealthfront IRA

on Wealthfront's website

0.25%

management fee

$5,000

amount of assets managed for free

$500

on Wealthfront's website

Betterment IRA Logo

Betterment IRA

on Betterment's website

0.25%

management fee

Up to 1 year

of free management with a qualifying deposit

$0

on Betterment's website

Sofi Automated Investing Logo

Sofi Automated Investing

on Sofi Wealth's website

0%

management fee

Free

career counseling plus loan discounts with qualifying deposit

$100

on Sofi Wealth's website

Ally Invest IRA Logo

Ally Invest IRA

$0

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

Read review

Last updated on October 20, 2019

Methodology

NerdWallet's ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Roll Your 401(k) Over to an IRA: The Best Providers