So I am trying to help a friend out with their investments. Fortunately I found WCI early in residency and was able to use Vanguard for low cost index funds for my Roth IRA and taxable accounts. My friend has an adviser at Morgan Stanley, for taxable, roth ira, and ira.
His IRA and Roth IRA have 18 funds each, with an ER close to 1%
I want to find a way to transfer to Vanguard as inexpensively as possible.
The problem is I believe there is a fee to sell non Vanguard funds at Vanguard, that could be 36 trades at a fee of $20-$50 could add up to a decent haircut. He can contribute 50k to vanguard money market to get him to Voyager service, which I believe will lower the fee to $20
Does anyone have experience or advice on how to do this?
I was thinking option #1 would be to see if morgan stanley has fees to sell in his IRA, liquidate to cash and then transfer to Vanguard IRA.
The taxable would just be to transfer in kind, or consider selling if there are not many capital gains.
Open to any suggestions, and WCI does your Fire your financial adviser course have a section on how to end your relationship and transfer your money in less than ideal investments into something else?
Thanks for any advice.
His IRA and Roth IRA have 18 funds each, with an ER close to 1%
I want to find a way to transfer to Vanguard as inexpensively as possible.
The problem is I believe there is a fee to sell non Vanguard funds at Vanguard, that could be 36 trades at a fee of $20-$50 could add up to a decent haircut. He can contribute 50k to vanguard money market to get him to Voyager service, which I believe will lower the fee to $20
Does anyone have experience or advice on how to do this?
I was thinking option #1 would be to see if morgan stanley has fees to sell in his IRA, liquidate to cash and then transfer to Vanguard IRA.
The taxable would just be to transfer in kind, or consider selling if there are not many capital gains.
Open to any suggestions, and WCI does your Fire your financial adviser course have a section on how to end your relationship and transfer your money in less than ideal investments into something else?
Thanks for any advice.
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