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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 — 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 is usually 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.
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 is usually 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
| Broker | NerdWallet Rating | Fees | Account Minimum | Promotion | Learn More |
|---|---|---|---|---|---|
 SoFi Automated Investing Learn more on SoFi Invest's website | Best for Hands-Off Investors | 0% management fee | $0 | Free career counseling plus loan discounts with qualifying deposit | Learn more on SoFi Invest's website |
 Betterment Learn more on Betterment's website | Best for Hands-Off Investors | 0.25% management fee | $0 | Up to 1 year of free management with a qualifying deposit | Learn more on Betterment's website |
 Ellevest Learn more on Ellevest's website | Best for Hands-Off Investors | $1 - $9 per month | $0 | 2 months free with promo code "nerdwallet" | Learn more on Ellevest's website |
 E*TRADE IRA Learn more on E*TRADE's website | Best for Hands-On Investors | $0 | $0 | None no promotion available at this time | Learn more on E*TRADE's website |
 J.P. Morgan Self-Directed Investing Learn more on J.P. Morgan's website | Best for Hands-On Investors | $0 per trade | $0 | None no promotion available at this time | Learn more on J.P. Morgan's website |
Our picks for
Hands-Off Investors
on SoFi Invest's website
SoFi Automated Investing
Fees
management fee
Account Minimum
Promotion
career counseling plus loan discounts with qualifying deposit
on SoFi Invest's website
on Betterment's website
Betterment
Fees
management fee
Account Minimum
Promotion
of free management with a qualifying deposit
on Betterment's website
on Ellevest's website
Ellevest
Fees
per month
Account Minimum
Promotion
with promo code "nerdwallet"
on Ellevest's website
Our picks for
Hands-On Investors
on E*TRADE's website
E*TRADE IRA
Fees
Account Minimum
Promotion
no promotion available at this time
on E*TRADE's website
on J.P. Morgan's website
J.P. Morgan Self-Directed Investing
Fees
per trade
Account Minimum
Promotion
no promotion available at this time
on J.P. Morgan's website
Want to compare more options? Here are our other top picks:
Disclosure: The author held no positions in the aforementioned securities at the time of publication.
Last updated on June 9, 2021
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Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors by assets under management, along with emerging industry players, using a multifaceted and iterative approach. 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.
DATA COLLECTION AND REVIEW PROCESS
We collect data directly from providers, and conduct first-hand testing and observation through provider demonstrations. Our process starts by sending detailed questionnaires to providers to complete. The questionnaires are structured to equally elicit both favorable and unfavorable responses from providers. They are not designed or prepared to produce any predetermined results. The questionnaire answers, combined with product 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). Ratings are rounded to the nearest half-star.
RATING FACTORS
Evaluations vary by provider type, but in each case are based upon the weighted averages of factors that include but are not limited to: advisory and account fees, account minimums and types, investment selection, investment expense ratios, trading costs, access to human financial advisors, educational resources and tools, rebalancing and tax minimization options, and customer support including branch access, user-facing technology and mobile platforms.
Each factor can involve evaluating various sub-factors. For instance, when gauging the investment selections offered by robo-advisors, 80% of the score is based on the potential for diversification (how well-diversified a resulting portfolio of investments could be) combined with the availability of specialty portfolios and level of customization for investors. Expense ratios form an additional 10% of the score, and low or no management fee the remaining 10%.
FACTOR WEIGHTINGS
The weighting of each factor is based on our team’s assessment of which features are the most important to consumers and which ones impact the consumer experience in the most meaningful way. The factors considered, and how those factors are weighted, change depending upon the category of providers reviewed.
Provider categories include: Best Brokers for Stock Trading, Best Brokers for Beginners, Best Brokers for Day Trading, Best Brokers for Options Trading, Best Discount Brokers, Best Brokers for Free Trading, Best Investment Apps, Best Brokers for Penny Stocks, Best IRA Brokers, Best Robo-Advisors, Best Financial Advisors, Best Real Estate Platforms, Best Brokers for ETFs and Best Brokers for Mutual Funds.
INFORMATION UPDATES
Writers and editors conduct our broker and robo-advisor reviews on an annual basis but continually make updates throughout the year. We maintain frequent contact with providers and highlight any changes in offerings.
THE REVIEW TEAM
The review team comprises seasoned writers, researchers and editors who cover stocks, bonds, mutual funds, index funds, exchange-traded funds, alternative investments, socially responsible investing, financial advisors, retirement and investment strategy on a daily basis. In addition to NerdWallet, the work of our team members has been published in The New York Times, The Washington Post, Forbes, USA Today, Bloomberg News, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets.
The combined expertise of our Investing team is infused into our review process to ensure thoughtful evaluations of provider products and services from the customer perspective. Our writers and editors combine to have more than 70 years of deep experience in finance, ranging from a former Wall Street Journal reporter to a former senior financial advisor at Merrill Lynch.
CONFLICTS OF INTEREST
While NerdWallet does have partnerships with many of the reviewed providers, we manage potential conflicts of interest by maintaining a wall between our content and business operations. This wall is designed to prevent our writers and the review process from being influenced or impacted by our business partnerships. This way, all reviews can provide an unbiased review that serves the interests of our users. For more information, see NerdWallet’s editorial guidelines.
To recap our selections...
NerdWallet's Roll Your 401(k) Over to an IRA: The Best Providers
- SoFi Automated Investing: Best for Hands-Off Investors
- Betterment: Best for Hands-Off Investors
- Ellevest: Best for Hands-Off Investors
- E*TRADE IRA: Best for Hands-On Investors
- J.P. Morgan Self-Directed Investing: Best for Hands-On Investors
- Ally Invest Robo Portfolios: Best for Hands-Off Investors
- TD Ameritrade IRA: Best for Hands-On Investors
- Ally Invest IRA: Best for Hands-On Investors
- Vanguard: Best for Hands-On Investors
- Schwab Intelligent Portfolios®: Best for Hands-Off Investors
- Charles Schwab IRA: Best for Hands-On Investors
- Fidelity Go: Best for Hands-Off Investors
- Merrill Edge IRA: Best for Hands-On Investors
- Fidelity IRA: Best for Hands-On Investors
