Best IRA Providers 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 brokers for an IRA rollover.
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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 — roll your 401(k) over to an IRA. Depending on your plan and what you'd like to invest in, 401(k) fees can be high. You may 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, but 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 — roll your 401(k) over to an IRA. Depending on your plan and what you'd like to invest in, 401(k) fees can be high. You may 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, but that’s where we come in. Here are NerdWallet’s picks for the best IRA providers for your IRA rollover.
Best IRA Providers for a 401(k) Rollover
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Fidelity IRA Learn more on Fidelity's website | Best for Hands-On Investors | $0 no account fees to open a Fidelity retail IRA | $0 | Get $100 when you open a new Fidelity retail IRA with $50. A 200% match. Use code FIDELITY100. Limited time offer. Terms apply. | Learn more on Fidelity's website |
 Interactive Brokers IBKR Lite Learn more on Interactive Brokers' website | Best for Hands-On Investors | $0 per trade | $0 | None no promotion available at this time | Learn more on Interactive Brokers' website |
 Merrill Edge IRA Learn more on Merrill Edge's website | Best for Hands-On Investors | $0 per trade | $0 | Up to $600 when you invest in a new Merrill Edge® Self-Directed account. | Learn more on Merrill Edge'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 |
 Wealthfront IRA Learn more on Wealthfront's website AD Paid non-client promotion | Reviewed in: Oct. 2022 Period considered: Aug. - Oct. 2022 | 0.25% management fee | $500 | Get $50 customer bonus when you fund your first taxable Investment Account | Learn more on Wealthfront's website AD Paid non-client promotion |
Our pick for
Hands-On Investors
$0
no account fees to open a Fidelity retail IRA
$0
Get $100
when you open a new Fidelity retail IRA with $50. A 200% match. Use code FIDELITY100. Limited time offer. Terms apply.
Pros
$0 trade commissions.
Free research and data.
Strong customer support.
Quality trading platform.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Fidelity’s lineup of services for investors goes well beyond retirement accounts. The company’s brokerage arm features $0 commissions, a wide investment selection, plenty of research and advanced trading capabilities (including a strong mobile app).
$0
per trade
$0
None
no promotion available at this time
Pros
Large investment selection.
Strong research and tools.
Over 18,000 no-transaction-fee mutual funds.
NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.
Cons
Website is difficult to navigate.
Why We Like It
Interactive Brokers' IBKR Lite is a strong option for frequent traders: The broker offers international trade capabilities, no stock-trading commission and a quality trading platform.
$0
per trade
$0
Up to $600
when you invest in a new Merrill Edge® Self-Directed account.
Pros
Robust third-party research.
Integrated with Bank of America.
Cons
Lower number of low-expense-ratio mutual funds than some competitors.
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.
$0
$0
None
no promotion available at this time
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.
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.
$0
per trade
$0
Get up to $700
when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money
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.
Why We Like It
J.P. Morgan Self-Directed Investing 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
Our pick for
Hands-Off Investors
5.0
/5Reviewed in: Oct. 2022
Period considered: Aug. - Oct. 2022
on Wealthfront's website
AD
Paid non-client promotion
0.25%
management fee
$500
Get $50 customer bonus
when you fund your first taxable Investment Account
Pros
Get $50 customer bonus when you fund your first taxable Investment Account (NerdWallet promotion).
Automatic rebalancing.
Digital financial planning tools.
Low management fee.
Cons
No access to human advisors.
No fractional shares.
Why We Like It
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).
5.0
/5Reviewed in: Oct. 2022
Period considered: Aug. - Oct. 2022
on Betterment's website
AD
Paid non-client promotion
0.25%
with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month.
$0
$10 to start
Up to 1 Year
of free management for new clients. Terms apply.
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.
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.
4.9
/5Reviewed in: Oct. 2022
Period considered: Aug. - Oct. 2022
on SoFi Invest's website
AD
Paid non-client promotion
0%
management fee
$0
Free
career counseling plus loan discounts with qualifying deposit
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.
Why We Like It
Free management and access to financial advisors and career counselors make SoFi Automated Investing a solid choice for beginning and younger investors.
4.9
/5Reviewed in: Oct. 2022
Period considered: Aug. - Oct. 2022
on Ellevest's website
AD
Paid non-client promotion
$5 - $9
per month
$0
2 months free
with promo code "nerdwallet"
Pros
No account minimum.
Goal-focused investing approach.
Portfolio mix that factors women’s needs.
A la carte sessions with coaches and CFPs.
Cons
No tax-loss harvesting.
Why We Like It
Ellevest offers two tiers of service, starting at $5 a month. Members get discounted access to professional help, free educational resources and a unique investing algorithm that factors in women’s pay gaps, career breaks and longer lifespans. Ellevest Private Wealth Management is available for investors with $1 million or more.
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Last updated on February 1, 2023
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Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors. 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. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with 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).
For more details about the categories considered when rating providers and our processes, read our full broker ratings methodology and our full robo-advisor ratings methodology
To recap our selections...
NerdWallet's Best IRA Providers for a 401(k) Rollover
- Fidelity IRA: Best for Hands-On Investors
- Interactive Brokers IBKR Lite: Best for Hands-On Investors
- Merrill Edge IRA: Best for Hands-On Investors
- E*TRADE IRA: Best for Hands-On Investors
- Wealthfront IRA: Best for Hands-Off Investors
- Betterment IRA: Best for Hands-Off Investors
- Ally Invest Robo Portfolios: Best for Hands-Off Investors
- J.P. Morgan Self-Directed Investing: Best for Hands-On Investors
- SoFi Automated Investing: Best for Hands-Off Investors
- Ellevest: Best for Hands-Off Investors
- Vanguard Digital Advisor: Best for Hands-Off Investors
- TD Ameritrade IRA: Best for Hands-On Investors
- Firstrade: Best for Hands-On Investors
- Fidelity Go: Best for Hands-Off Investors
- Charles Schwab IRA: Best for Hands-On Investors
- Schwab Intelligent Portfolios®: Best for Hands-Off Investors
