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

Andrea CoombesJanuary 2, 2020

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

With these providers, investors build a portfolio of individual investments of their own choosing.

Merrill Edge IRA

on Merrill Edge's website

Merrill Edge IRA

Merrill Edge IRA

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $600

cash credit with qualifying deposit

on Merrill Edge's website


Promotion

Up to $600

cash credit with qualifying deposit

Why we like it

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

TD Ameritrade IRA

TD Ameritrade IRA

Fees

$0

per trade

Account Minimum

$0

Promotion

$100 to $600

in cash bonus with a qualifying deposit

on TD Ameritrade's website


Promotion

$100 to $600

in cash bonus with a qualifying deposit

Why we like it

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

E*Trade IRA

E*Trade IRA

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $600

in cash bonus with a qualifying deposit

on E*Trade's website


Promotion

Up to $600

in cash bonus with a qualifying deposit

Why we like it

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

Our picks for

Hands-Off Investors

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

Betterment IRA

on Betterment's website

Betterment IRA

Betterment IRA

Fees

0.25%

management fee

Account Minimum

$0

Promotion

Up to 1 year

of free management with a qualifying deposit

on Betterment's website


Promotion

Up to 1 year

of free management with a qualifying deposit

Why we like it

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
Ally Invest Managed Portfolios

on Ally Invest's website

Ally Invest Managed Portfolios

Ally Invest Managed Portfolios

Fees

0.0%

with Cash-Enhanced Managed Portfolio; 0.3% otherwise

Account Minimum

$100

Promotion

None

on Ally Invest's website


Promotion

None

Why we like it

Ally Invest Managed Portfolios is best suited to retirement accounts or loyal Ally customers who want to house a managed account, a trading account and their bank accounts under one roof. The lack of tax-loss harvesting will be an issue for investors with taxable brokerage accounts.

Pros

  • Solid investment selection.

  • Integration for Ally bank and brokerage clients.

Cons

  • No tax-loss harvesting.

Read Full Review
Ellevest

on Ellevest's website

Ellevest

Ellevest

Fees

0.25%

management fee

Account Minimum

$0

Promotion

Up to $750

cash bonus with qualifying deposit

on Ellevest's website


Promotion

Up to $750

cash bonus with qualifying deposit

Why we like it

This advisor markets itself to women and takes a goal-focused approach that factors in women’s lower incomes, lifetime earnings and longer lifespans. With its $0 account minimum, competitive advisory fees (ranging from 0.25% - 0.5% of assets) and unlimited access to financial advisors (Premium clients can talk to CFPs), Ellevest is an appealing choice for investors of any gender.

Pros

  • Low account minimum and fees.

  • Goal-focused investing approach.

  • Portfolio mix that factors women’s needs.

Cons

  • Few accounts supported.

  • No tax-loss harvesting.

Read Full Review
SoFi Automated Investing

on SoFi Wealth's website

SoFi Automated Investing

SoFi Automated Investing

Fees

0%

management fee

Account Minimum

$0

Promotion

Free

career counseling plus loan discounts with qualifying deposit

on SoFi Wealth's website


Promotion

Free

career counseling plus loan discounts with qualifying deposit

Why we like it

SoFi Automated Investing is great for beginning, cost-conscious investors who favor a hands-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.

  • Automatic rebalancing.

  • Customer support.

  • Access to certified financial planners.

Cons

  • Limited account types.

  • No tax-loss harvesting.

Read Full Review

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

$0

per trade

Up to $600

cash credit with qualifying deposit

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$0

per trade

$100 to $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

Firstrade Logo

Firstrade

$0

per trade

Up to $200

in Transfer Fee Rebates

$0

Read review
Charles Schwab IRA Logo

Charles Schwab IRA

$0

per trade

None

No promotion at this time

$0

Read review
Fidelity IRA Logo

Fidelity IRA

$0

per trade

500

free trades with a qualifying deposit

$0

Read review
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

Ally Invest Managed Portfolios Logo

Ally Invest Managed Portfolios

on Ally Invest's website

0.0%

with Cash-Enhanced Managed Portfolio; 0.3% otherwise

None

$100

on Ally Invest's website

Ellevest Logo

Ellevest

on Ellevest's website

0.25%

management fee

Up to $750

cash bonus with qualifying deposit

$0

on Ellevest'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

$0

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
Fidelity Go Logo

Fidelity Go

0.35%

management fee

None

No promotion available at this time

$0

Read review
Schwab Intelligent Portfolios® Logo

Schwab Intelligent Portfolios®

0%

management fee

None

no promotion currently offered

$5,000

Read review
Schwab Intelligent Portfolios Premium™ Logo

Schwab Intelligent Portfolios Premium™

$30

monthly

None

no promotion available at this time

$25,000

Read review
BrokerCommissionsPromotionAccount MinimumLearn More
Merrill Edge IRA Logo

Merrill Edge IRA

on Merrill Edge's website

$0

per trade

Up to $600

cash credit with qualifying deposit

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$0

per trade

$100 to $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

Firstrade Logo

Firstrade

$0

per trade

Up to $200

in Transfer Fee Rebates

$0

Read review
Charles Schwab IRA Logo

Charles Schwab IRA

$0

per trade

None

No promotion at this time

$0

Read review
Fidelity IRA Logo

Fidelity IRA

$0

per trade

500

free trades with a qualifying deposit

$0

Read review
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

Ally Invest Managed Portfolios Logo

Ally Invest Managed Portfolios

on Ally Invest's website

0.0%

with Cash-Enhanced Managed Portfolio; 0.3% otherwise

None

$100

on Ally Invest's website

Ellevest Logo

Ellevest

on Ellevest's website

0.25%

management fee

Up to $750

cash bonus with qualifying deposit

$0

on Ellevest'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

$0

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
Fidelity Go Logo

Fidelity Go

0.35%

management fee

None

No promotion available at this time

$0

Read review
Schwab Intelligent Portfolios® Logo

Schwab Intelligent Portfolios®

0%

management fee

None

no promotion currently offered

$5,000

Read review
Schwab Intelligent Portfolios Premium™ Logo

Schwab Intelligent Portfolios Premium™

$30

monthly

None

no promotion available at this time

$25,000

Read review

Last updated on January 2, 2020

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