Best of

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

Andrea CoombesJune 8, 2020

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

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 — take it with you. Depending on your plan, 401(k) fees can be high. You’ll likely save money and find a wider range of investment options by rolling it over to an IRA.

The toughest part usually is choosing an IRA account provider. That’s where we come in. Here are NerdWallet’s picks for the best IRA providers for your IRA rollover.

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

BrokerNerdWallet Rating CommissionsPromotionAccount MinimumLearn More
Betterment IRA

Betterment IRA

on Betterment's website

Best for Hands-Off Investors

0.25%

management fee

Up to 1 year

of free management with a qualifying deposit

$0

on Betterment's website

SoFi Automated Investing

SoFi Automated Investing

on SoFi Invest's website

Best for Hands-Off Investors

0%

management fee

Free

career counseling plus loan discounts with qualifying deposit

$0

on SoFi Invest's website

Ellevest

Ellevest

on Ellevest's website

Best for Hands-Off Investors

$1 - $9

per month

1 month free

of Ellevest Digital

$0

on Ellevest's website

You Invest by J.P.Morgan

You Invest by J.P.Morgan

on You Invest by J.P.Morgan's website

Best for Hands-On Investors

$0

per trade

Up to $725

when you open and fund a You Invest Trade account with qualifying new money

$0

on You Invest by J.P.Morgan's website

Firstrade

Firstrade

Best for Hands-On Investors

$0

per trade

Up to $200

in Transfer Fee Rebates

$0

Read 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

  • Multiple investment options.

  • Robust goal-based tools.

  • Fractional shares mean all your cash is invested.

  • Low management fee.

Cons

  • $100,000 minimum and higher fee for access to financial advisors.

Read Full Review
SoFi Automated Investing

on SoFi Invest'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 Invest'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
Ellevest

on Ellevest's website

Ellevest

Ellevest

Fees

$1 - $9

per month

Account Minimum

$0

Promotion

1 month free

of Ellevest Digital

on Ellevest's website


Promotion

1 month free

of Ellevest Digital

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 membership fee and a la cart access to CFPs and coaches, 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.

  • A la carte sessions with coaches and CFPs.

Cons

  • Essential members can't open an IRA.

  • No tax-loss harvesting.

Read Full Review

Our pick for

Hands-On Investors

You Invest by J.P.Morgan

on You Invest by J.P.Morgan's website

You Invest by J.P.Morgan

You Invest by J.P.Morgan

Fees

$0

per trade

Account Minimum

$0

Promotion

Up to $725

when you open and fund a You Invest Trade account with qualifying new money

on You Invest by J.P.Morgan's website


Promotion

Up to $725

when you open and fund a You Invest Trade account with qualifying new money

Why we like it

You Invest Trade 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

Pros

  • Easy-to-use platform.

  • $0 commissions.

  • App connects all Chase accounts.

  • No account minimum.

Cons

  • Limited tools and research.

  • Portfolio Builder tool requires $2,500 balance.

Read Full Review

Last updated on June 9, 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