Hi all,
I'm trying to help my mom rollover one of her IRAs out of Merrill Lynch. It's a pretty sizable account, approximately $500k, and it's been underperforming the market considerably for a while now (less than 10% returns the previous two years + advisory fees!). I've been in her ear for a while about moving away from ML but she's been with them 30+ years and has a sense of loyalty. Anyway, with the retirement of her primary, longtime advisor and the really pathetic performance of the account recently, she's agreed to let me help her do a rollover to another company.
I'm most familiar and comfortable with Vanguard, but have never done a rollover before. Is it a complicated process? Her IRA at Merrill also holds mostly individual stocks. Can Vanguard accommodate an account like that? Once the account rolls over I will work with her on implementing a more bogleheads-friendly strategy.
Thanks for any help in advance.
I'm trying to help my mom rollover one of her IRAs out of Merrill Lynch. It's a pretty sizable account, approximately $500k, and it's been underperforming the market considerably for a while now (less than 10% returns the previous two years + advisory fees!). I've been in her ear for a while about moving away from ML but she's been with them 30+ years and has a sense of loyalty. Anyway, with the retirement of her primary, longtime advisor and the really pathetic performance of the account recently, she's agreed to let me help her do a rollover to another company.
I'm most familiar and comfortable with Vanguard, but have never done a rollover before. Is it a complicated process? Her IRA at Merrill also holds mostly individual stocks. Can Vanguard accommodate an account like that? Once the account rolls over I will work with her on implementing a more bogleheads-friendly strategy.
Thanks for any help in advance.
Statistics: Posted by BogleDan — Mon Apr 22, 2024 3:19 pm — Replies 3 — Views 168