Hello, I have a taxable brokerage account with a bank that is currently under a high AUM fee structure (1.50%) and looking for advice on how to move out of it into a low-fee simple 2 or 3 fund index portfolio. Currently has around $450K invested in 50 large-cap stocks, and 2 S&P index funds. Less than 2% is cash. I started this account several years ago before I became versed in the Bogleheads way so I need/want to make this change, but concerned about the tax implications. I met with a Fidelity rep who advised that I could move this account over and then sell these individual stocks in batches to avoid a big tax hit. To complicate things a bit further, I had company options to sell this month, so that is going to generate a larger tax bill for next April. Waiting to hear back from Fidelity once they review all of my docs, but wanted to see what others on the forum might do in this situation. My other investment accounts are a Rollover IRA with Schwab in IP and a Roth 401K that is BlackRock LifePath Index 2040. Could Fidelity or Schwab take care of the transfer without me going to the bank?
I'm also looking for a CPA who help advise on tax-planning for retirement, but wanted to see what you guys suggest. This account has almost doubled in the 6 years I've had it but the fees, and I want more control over my investment choices. Thanks!
I'm also looking for a CPA who help advise on tax-planning for retirement, but wanted to see what you guys suggest. This account has almost doubled in the 6 years I've had it but the fees, and I want more control over my investment choices. Thanks!
Statistics: Posted by westminster — Fri Mar 22, 2024 9:57 am — Replies 2 — Views 94
