Best IRA Accounts for a 401(k) Rollover
Rolling your old 401(k) over into an IRA can give you more control over your investments. Here's a list of the best places for an IRA rollover.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
When leaving a job, many people also leave behind their most valuable retirement asset: their 401(k), which sits where it is until retirement, quietly accumulating fees.
But you can — and in most cases, should — roll your 401(k) over to an IRA. You may save on annual management fees and find a wider range of investment options by doing so.
Our list covers the best IRA accounts for hands-off investing with robo-advisors and for those who prefer a DIY approach with brokers. More information on a broker's robo-advisor product is found below.
Company | NerdWallet rating | IRA Match | Account minimum | Learn more |
|---|---|---|---|---|
Best Online Broker for IRA Investors | 4.9/5 | None | $0 | Learn moreon Charles Schwab's website |
Learn moreon Charles Schwab's website | ||||
Learn moreon Charles Schwab's website | ||||
5.0/5 | None | $0 no account fees to open a Fidelity retail IRA | Learn moreon Fidelity's website | |
Learn moreon Fidelity's website | ||||
Learn moreon Fidelity's website | ||||
4.6/5 | 1% on contributions and 401(k) rollovers | $0 | Learn moreon SoFi Invest®'s website | |
Learn moreon SoFi Invest®'s website | ||||
Learn moreon SoFi Invest®'s website | ||||
4.5/5 | 1% match on contributions (3% for Gold members) | $0 | Learn moreon Robinhood's website | |
Learn moreon Robinhood's website | ||||
Learn moreon Robinhood's website | ||||
4.3/5 | None | $0 | Learn moreon E*TRADE's website | |
Learn moreon E*TRADE's website | ||||
Learn moreon E*TRADE's website | ||||
Nerd Tip: In recent years, some brokers have begun offering an IRA match, where the provider typically matches 1% to 3% of your rolled-over amount or any new contributions you make. This perk usually comes with some fine print: you may need to keep the matched funds in your account for a set number of years, or you might have to subscribe to a paid or premium service tier. Still, for some, this free cash could be well worth those stipulations.
Many big-name legacy brokers on this list don't offer a match, but it’s not necessarily a reason to write them off. Transferring your account over to a broker whose platform you enjoy using and whose investment selection meets your needs should be the deciding factor — anything extra is just icing on the cake.
Charles Schwab
Charles Schwab earns two honors in the IRA category: The standard Charles Schwab account, where you can manage your own investments, won this year’s NerdWallet award for best online broker for IRA investors, and Schwab's robo-advising arm, Schwab Intelligent Portfolios, won the award for the best robo-advisor for IRA investors.
Schwab’s standard IRA has no annual, closing or inactivity fees, a wide selection of target-date funds and a variety of no-transaction-fee mutual funds. Through Schwab Investing Themes, you can also invest in a collection of stocks built around themes like AI or sustainability. Schwab also has some of the most robust retirement planning tools out there, as well as an impressive suite of research and educational resources. It also offers stellar customer service.
Schwab Intelligent Portfolios
Schwab’s robo-advisor account, Intelligent Portfolios, has a higher $5,000 minimum to open an account, but that’s unlikely to be an issue for most people rolling over their 401(k)s. Perhaps its biggest advantage is that there is no annual management fee — this is somewhat rare among robo-advisors and can amount to meaningful savings over the years. For example, a standard 0.25% fee (what many robo-advisors charge) on a $50,000 balance adds up to $125 annually.
A few drawbacks to consider. First, at most brokers, idle cash not being used for investing may get swept into an interest-bearing account at a partner bank. Schwab's interest on uninvested cash is very low compared to competitors, which means you may earn less than you would elsewhere. Second: Schwab’s main platform Schwab.com scores well for usability, but it’s also quite basic. Its thinkorswim platform, on the other hand, which is available for free with a Schwab account, is a high-octane trading platform that advanced investors will love, but beginners might find intimidating.
IRA match: None offered.
Best Online Broker for IRA Investors  Charles Schwab | Best Robo-Advisor for IRA Investors Schwab Intelligent Portfolios® |
Learn moreon Charles Schwab's website | |
Fees$0per online equity trade | Fees0%management fee |
Account minimum$0 | Account minimum$5,000 |
IRA MatchNone | IRA MatchNone |
Fidelity
It's no surprise that the king of retirement investing features prominently on our list. Fidelity may already feel like an obvious choice if you're rolling over a Fidelity-managed 401(k), but there are many other reasons to consider it as well.
Fidelity offers two types of accounts for your rollover needs: the standard Fidelity IRA, where you can manage the account on your own, or Fidelity Go, the company's robo-advisor, for those who'd rather have the investment work allocated to an automated service.
Fidelity's standard IRA account stands out for its wide range of investment options, support for fractional-share trading in both stocks and ETFs, a strong platform and mobile app, robust retirement planning tools and a solid lineup of proprietary, no-fee index funds. It also doesn't carry an account minimum or charge transfer fees.
Fidelity Go
On the robo-advising end of things, Fidelity Go uses Fidelity Flex Funds, which have zero expense ratios, to build out portfolios. That's notable, since high expense ratios can chip away at your balance over time. However, it's worth noting that Fidelity Go accounts with balances above $25,000 incur a 0.35% annual management fee.
If you’re rolling over a larger 401(k), it’s worth weighing whether you want to pay for ongoing management — especially since some competitors, like Schwab Intelligent Portfolios, don’t charge a management fee for their robo-advisory services. However, you will get access to planning sessions with an advisor once you hit the $25k mark, as well as tax-loss harvesting.
IRA match: None offered.
 Fidelity IRA | Best Robo-Advisor for Low-Cost Investing Fidelity Go® |
Learn moreon Fidelity's website | |
Fees$0no account fees to open a Fidelity retail IRA | Fees0% - 0.35%no advisory fees for balances under $25k |
Account minimum$0no account fees to open a Fidelity retail IRA | Account minimum$0 |
IRA MatchNone | IRA MatchNone |
SoFi
While some people may be surprised to see SoFi, which only began offering investing products in 2019, on this list, our editors were impressed by several features. SoFi offers both a standard IRA account, where you can manage your investments, and an IRA through SoFi Robo Investing, their automated investing service.
Sofi’s Active Investing offering has a comparable selection of investments to larger legacy firms — it even lets you trade options with no contract fee, which is not common practice among brokers. There are no annual fees, but the firm does charge an inactivity fee if you fail to log in at least once within a six-month period. Opening an account also gives you one meeting with a financial advisor, and if you pay for SoFi Plus ($10 a month), that gets bumped up to unlimited meetings. That may be attractive to people who aren’t necessarily sure how to manage their investments and are willing to spend up to $120 a year for access to help.
SoFi Robo Investing
SoFi Robo Investing, the automated investing option, charges a 0.25% management fee, which is on par with most robo-advisors on this list, save for Schwab Intelligent Portfolios. Clients can choose from three portfolio options, including ESG-focused investments.
IRA match: 1% match on both IRA contributions and rollovers.
One of the biggest draws is perhaps the match SoFi offers: 1% on IRA rollovers and contributions, which is available for both the robo-advisor and the self-directed product. On a $25,000 rollover, that equals $250 in free cash. The fine print here — as is common with providers who offer a match — is that the matched funds must stay in the account for at least five years or you’ll be hit with an early withdrawal fee, and the matched funds will be removed from your account.
 SoFi Active Investing | SoFi Robo Investing |
Learn moreon SoFi Invest®'s website | |
Fees$0per trade | Fees0.25%management fee |
Account minimum$0 | Account minimum$50 |
IRA Match1% on contributions and 401(k) rollovers | IRA Match1% on contributions and 401(k) rollovers |
Robinhood
You may be familiar with Robinhood because of its innovative mobile trading platform. While that may be what the broker is most known for, Robinhood has other strengths, such as its competitive IRA option.
One unique thing Robinhood offers is “instant deposits.” With this feature, you don’t have to wait the typical one to five days for your funds to hit your account to start investing — you can invest up to $1,000 right away.
However, a downside to Robinhood is its lack of mutual funds, which in turn eliminates access to target-date mutual funds. If you were invested in one in your 401(k) and want the same kind of low-maintenance fund that rebalances on its own, you’ll have to look for a target-date ETF at Robinhood instead.
IRA match: Yes. All users get a 1% match on contributions.
This match even extends to the money you roll over from your old retirement account, and there’s no maximum. The broker’s $5-per-month Gold plan is also worth mentioning — it bumps the IRA match you get on new contributions to 3%. That’s $225 if you contribute the full $7,500 for the year.
Similar to SoFi, there’s some fine print to pay attention to. First, your match has to stay in the account for at least five years, or you’ll get hit with an early removal fee. And second, you have to keep your Robinhood Gold subscription active for at least a year to keep the higher match you earned through the Gold subscription.
Robinhood shook up the IRA market with its 1% match on contributions — an offer that is typically only available through employer retirement plans. While some competitors have since added similar offers, it is still relatively rare among IRA providers.
E*TRADE
E*TRADE shines in a number of ways: It offers some of the best educational resources out there, has a wide selection of no-transaction-fee mutual funds, and has a stand-out trading platform that you can grow with.
The E*TRADE Web trading platform may be a good fit for intermediate investors, while the Power E*TRADE platform is best for active traders who want access to advanced features. Both trading platforms are free, so you don’t have to worry about paying a premium as you dive deeper into investing.
While there’s a lot to love about E*TRADE, there are also a few things to know before deciding if it’s right for you. For the most part, E*TRADE doesn’t offer fractional shares, which has become fairly standard these days. This could mean leaving uninvested cash in your account while you’re waiting until you can buy a full share of the asset you want. The only way to get around this is by setting up recurring investments. But this may not be a dealbreaker coming from a 401(k), where you’re already used to funds coming straight out of your paycheck.
IRA match: None offered.
Retirement investors will find a lot to love about E*TRADE from Morgan Stanley's IRA offering, which offers no fees for stock and ETF trades, a large line-up of no-trading-fee mutual funds and an extensive library of retirement advice and tools.
Interactive Brokers
As we mentioned, one big reason people choose to roll their 401(k)s into an IRA is for a wider investment selection — and Interactive Brokers has a huge selection. This includes alternative assets that might appeal to active traders, plus over 21,000 no-transaction-fee mutual funds that might appeal to long-term investors.
While Interactive Brokers has a reputation for being best for advanced investors, its free IBKR Lite tier may be suitable for retirement investors who are more focused on a buy-and-hold strategy. With IBKR Lite, you don’t pay any commissions on stocks or ETFs. Plus, the broker offers fractional shares for U.S. and Canadian stocks and ETFs, so your contributions don’t have to sit idle.
But it’s worth noting that true beginner investors may find even the simplified IBKR Lite trading platform, which still has a lot of bells and whistles, to be too complex for their needs.
IRA match: None offered.
Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 21,000 no-transaction-fee mutual funds, and a full-featured platform.
Webull
Webull’s trading platform gives you the best of both worlds: You get the seamless mobile app experience that brokers like Robinhood offer, plus the advanced capabilities of platforms like Interactive Brokers. It could be a good fit whether you’re still learning the ins and outs of investing or you’re a seasoned trader.
Like many other brokers we review, Webull offers fractional shares, so you can make the most with the money you’re investing. The catch is: Not every stock or ETF is available in fractional shares — only the ones Webull has selected are eligible to be traded this way.
While letting your money sit uninvested isn’t ideal, Webull does offer a high interest rate on uninvested cash. Brokers frequently change their rates, but currently, Premium members (a subscription that costs $3.99 per month or $40 per year) can earn 3.35% on uninvested cash through Webull’s cash management account. However, this rate drops for users who don’t have a Premium subscription.
Also worth noting: Webull offers a wide investment selection, including some niche offerings that you might not find at every broker. But the downside to its investment selection is that Webull doesn’t offer mutual funds, which are the backbone of many retirement portfolios. As we mentioned previously, though, you may be able to find comparable ETFs to fill the gap.
IRA match: Yes. All users get access to a 1% match on contributions. Users who have a Premium subscription get access to a 3.5% match on contributions. Where Webull really outshines the competition is with the rollover match that it occasionally offers to Premium subscribers, which typically gets you around a 3% match on money you’ve rolled over from your old retirement account (capped at $7,500). Webull has similar match stipulations to Robinhood: You have to keep matched funds in the account for at least five years to avoid a fee, and if you have a Premium subscription, you have to keep it active for at least a year to avoid having your match removed.
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, it lacks access to mutual funds.
Public
Public is a sleek platform offering unique features that mobile-first investors will appreciate. Placing trades is easy and streamlined for beginners and advanced investors alike. When it comes to investment selection, your standard fare of asset classes is available, save for mutual funds, which might be a sticking point for people who would prefer their retirement holdings to be made up of target-date mutual funds. However, it may not be an issue if you’re seeking more variety or have multiple IRAs open for diversification. Public also offers fractional shares of many stocks and Treasury securities, as well as some bonds.
Another way that Public makes investing more accessible is by allowing users to create customizable “baskets” of stocks, ETFs and other assets. The broker also rolled out “generated assets,” which allows investors to create customized ETFs utilizing an LLM-powered assistant.
One notable downside here is that for people who value extensive customer service, Public’s offerings are limited to email and chat — and Premium members receive priority.
IRA match: Public is another unique offering on this list, offering a 1% match on rollovers, contributions and IRA transfers, potentially allowing people to reach up to 3% when they tick all three boxes. As with other brokers, there’s a lot of fine print to wade through: Matched funds must be kept in the account for at least five years to avoid a fee, and if you’re rolling over your 401(k), it must be done via Capitalize, which has a partnership with Public.
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto and bonds, as well as a high-yield cash account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
Frequently asked questions
What are the benefits and drawbacks of rolling a 401(k) over to an IRA?
When you leave a job, you may be able to keep your 401(k) funds with the original provider — but you won’t be able to contribute to that account anymore, and you may continue to pay administrative and investment fees tied to the account.
You may also be able to contact your former provider to see if you can roll the 401(k) into your new 401(k) — this way, you can keep the funds consolidated.
If your provider doesn’t allow for a direct 401(k) to 401(k) rollover, or you aren’t the biggest fan of your new 401(k)'s investment selection or fees, rolling over the funds to an IRA allows you to continue building upon your balance in a new account. IRAs also broaden your investment selection beyond target-date funds.
What’s the difference between an indirect and a direct rollover?
Regardless of where you choose to roll over your funds, pay attention to whether you can make a "direct rollover." That means the 401(k) plan sends your money or initiates a transfer straight to your new retirement account. If you do an indirect rollover, the plan administrator may withhold 20% to pay taxes on your distribution, and you have to roll over the funds within 60 days.
Does an IRA rollover count as a contribution?
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 $7,500 for 2026 ($8,600 if age 50 or older).
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