Are you considering transferring your assets from Vanguard to Fidelity? There is no need to sell everything you have with Vanguard.
You can easily transfer your assets to Fidelity by opening a brokerage account and filling out a transfer request form.
Fidelity will do everything for you. The broker will even reimburse any fees Vanguard may charge for outgoing transfer.
In this tutorial, I’ll walk you through the process of moving your assets from Vanguard to Fidelity.
Why I Chose Fidelity Over Vanguard
Fidelity is known for its excellent customer service. If you have any questions or need help with your account, you can quickly contact a representative.
Fidelity also offers a wide range of investment options, including stocks, bonds, mutual funds, and ETFs.
Most Fidelity mutual funds require no minimum investment, whereas, with Vanguard, there is a $3,000 minimum for their index funds.
How to Transfer from Vanguard to Fidelity
Step 1: To transfer your assets, create an account with Fidelity through their website. (You can use promo code FIDELITY100 to receive a sign up bonus.)
Step 2: Once your account is created, fill out the Transfer of Assets form
Step 3: Provide Fidelity with your Vanguard account information, and they will begin the transfer process.
It takes about 3-5 days to move assets from Vanguard to Fidelity. Some accounts may take up to 2 weeks.
In the meantime, you can use the Transfer Checker tool to keep an eye on your account’s status.
Rollover from Vanguard to Fidelity
I am somewhat new to Fidelity. I still have my holdings in Vanguard target date funds and now that I roll over my accounts to Fidelity, I want to start migrating to Fidelity funds.
Two things you can do:
- Keep your holdings as is, even after they have been moved to Fidelity.
- Sell your existing Vanguard portfolio and replace it with the equivalent or comparable Fidelity funds.
💬 Community Discussion
Vanguard has a lot of complaints about customer service and their website, so I stayed at Fidelity.
Has anyone moved their Roth from Vanguard to Fidelity just because they liked the Fidelity user experience better? I enjoy the web interface better on the Fidelity platform.
Yes, they would have fees through Fidelity and they are listed on Fidelity’s site. I love Vanguard too. I have both Fidelity and Vanguard. Everything can be rolled over. I believe there is a transfer fee for taxable brokerage account.
Depending on your balance, Fidelity paid me $1500 to transfer to them. But personally I would open and start from scratch with Fidelity.
I just did a transfer from Vanguard to Fidelity. It was free (Fidelity paid me back the $75 fee). No need to sell your holdings. Your mutual funds are included.
It can rollover in kind as long as it is not a proprietary fund, such as an advisor fund that is only held with Vanguard. Everything else, such as ETFs and stocks, will be fine.