Transferring a Roth IRA between providers is a common part of managing long-term retirement goals. Whether you’re seeking a different investment structure, new tools, or simply consolidating accounts, moving your Roth IRA from Fidelity to M1 Finance can be completed smoothly with the right approach.
At Carry, we want to make financial decisions feel more manageable, even if you’re handling them outside our platform. This guide walks you through the key steps to ensure a secure transfer while preserving your account’s tax-advantaged status. Please note that while we try to provide the most up-to-date information, these processes are subject to change without notice, so be sure to check with your provider before moving forward.
The Roth IRA Handbook
Everything you need to know about investing and managing a Roth IRA
Step 1: Understand Your Transfer Strategy
Moving your Roth IRA from Fidelity to M1 Finance requires strategic planning. A direct, trustee-to-trustee transfer allows you to move your retirement funds between custodians without triggering taxes or penalties. This method helps maintain your Roth IRA’s tax-advantaged status.
What You’ll Need
Before starting the transfer process, gather these essential items:
✅ Fidelity Roth IRA account number
✅ M1 Finance login credentials
✅ Government-issued photo ID
✅ Most recent Roth IRA statement from Fidelity
✅ Social Security number
✅ Current contact information
Step 2: Initiate the Transfer with M1 Finance
M1 Finance offers a streamlined process for transferring your Roth IRA. Log into your M1 Finance account and navigate to the “Transfer” section. Select “Transfer from Another Brokerage” and choose “Roth IRA” as your account type.
📝 Pro Tip: Double-check that you are transferring between identical account types (Roth IRA to Roth IRA) to avoid potential tax complications.
Step 3: Complete Transfer Documentation
Your new M1 Finance account will require specific transfer documents. You’ll need to:
✅Provide your Fidelity account details
✅Confirm the exact amount you want to transfer
✅Authorize the electronic transfer
✏️ Hypothetical Example: If you want to move $20,000, specify that exact amount during the transfer process.
Step 4: Understand Transfer Timelines
Most Roth IRA transfers between brokerages take 5-7 business days. The Automated Customer Account Transfer (ACATS) system handles most electronic transferS.
📝 Important Reminder: Avoid executing trades or making additional contributions during the transfer period to help prevent potential delays.
Step 5: Review Your Investment Strategy
Once your funds arrive at M1 Finance, you will have the opportunity to reallocate your investments. M1 Finance’s platform allows for automated portfolio creation and dynamic rebalancing based on your selected strategy.
Step 6: Verify Your Transfer
After the transfer completes, review your M1 Finance account to confirm:
✅The total transferred amount matches your original balance
✅All intended investments have been moved correctly
✅No unexpected fees have been charged
Step 7: Tax Considerations
A direct Roth IRA transfer does not trigger a taxable event when properly executed. Your funds continue to grow under Roth IRA tax advantages.
📝 Crucial Note: Always consult a tax professional for personalized advice about your specific financial situation.
Step 8: Final Transfer Verification
Contact both Fidelity and M1 Finance customer support to confirm the transfer’s successful completion. Maintain copies of all transfer authorization and confirmation documents for your personal records
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Final Thoughts on Your Roth IRA Transfer
Transferring your Roth IRA from Fidelity to M1 Finance is a strategic process that requires careful attention to detail. The key takeaways are straightforward: use a direct, trustee-to-trustee transfer to avoid any tax implications, confirm that account types match exactly, and maintain detailed records throughout the transfer.
Your next steps should focus on:
✅Gathering all necessary account information
✅Initiating the transfer through M1 Finance
✅Monitoring and verifying the complete and accurate transfer of your funds
Remember that while Roth IRA transfers are generally straightforward, each individual’s financial situation may vary. Double-check the specific requirements with both institutions and consider consulting with a tax or financial professional to ensure you are making the most informed decisions for your retirement strategy.
📌 Want to dive deeper? Here are some other helpful resources:
Disclaimer:
The Carry Learning Center is operated by The Vibes Company Inc. (“Vibes”) and contains generalized educational content about personal finance topics. While Vibes provides educational content and technology services, all investment advisory services discussed on this website are provided exclusively through its wholly-owned subsidiary, Carry Advisors LLC (“Carry Advisors”), an SEC registered investment adviser. The information contained on the Carry Learning Center should not be construed as personalized investment advice and should not be considered as a solicitation to buy or sell any security or engage in a particular investment, accounting, tax or legal strategy. Vibes is not providing tax, legal, accounting, or investment advice. You should consult with qualified tax, legal, accounting, and investment professionals regarding your specific situation.
The accounts, strategies and/or investments discussed in this material may not be suitable for all investors. All investments involve the risk of loss, and past performance does not guarantee future results. Investment growth or profit is never a guarantee. All statements and opinions included on the Carry Learning Center are intended to be current as of the date of publication but are subject to change without notice.
To access investment advisory services through Carry Advisors, you must be a client of Vibes on an eligible membership plan. For more information about Carry Advisors’ investment advisory services, please see our Form [ADV Part 2A] (https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=916200) brochure and [Form CRS] (https://reports.adviserinfo.sec.gov/crs/crs_323620.pdf) or through the SEC’s website at [www.adviserinfo.sec.gov] (http://www.adviserinfo.sec.gov/).