Retirement savings aren’t locked in place forever. Many investors find themselves wanting to switch investment platforms when they discover better tools, lower fees, or more attractive investment options that align with their financial strategy.
A direct transfer from Fidelity to Wealthfront allows you to move your Roth IRA securely while preserving its tax-advantaged status. This guide breaks down what you need to know to move your IRA confidently, avoid any tax hiccups, and stay on track with your long-term goals.
At Carry, we want to make financial decisions feel more manageable, even if you’re handling them outside our platform. 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 Options
A Roth IRA transfer allows you to move retirement funds between financial institutions without triggering a taxable event. Fidelity and Wealthfront both support direct trustee-to-trustee transfers, which preserve your account’s tax-advantaged status.
For this transfer, you’ll want to use a direct transfer method—meaning Fidelity will send your funds directly to your new Wealthfront Roth IRA account.
✅ Know your current Fidelity Roth IRA account number
✅ Verify your Wealthfront Roth IRA is open and ready
✅ Confirm your personal information matches exactly across both platforms
Step 2: Initiate the Transfer with Wealthfront
Wealthfront makes the transfer process straightforward. Log into your Wealthfront account and navigate to the transfer section. Select “Rollover Contribution” as your transfer type, which signals you’re moving funds from an existing retirement account.
Most transfers take 3-5 business days to complete. Wealthfront will provide tracking information so you can monitor the transfer’s progress.
📝 Note: Double-check all personal information before submitting to prevent processing delays.
Step 3: Prepare Your Documentation
Gather key documents to make the process smoother:
✅ Most recent Fidelity Roth IRA statement
✅ Government-issued photo ID
✅ Social Security information
✅ Bank account details for verification
📝 Important: Ensure that your name, address, and Social Security number match exactly across both Fidelity and Wealthfront accounts.
Step 4: Understand Potential Transfer Limitations
Not all investments transfer seamlessly. Proprietary mutual funds might require liquidation before transfer. This means you could temporarily be out of the market during the transition.
✏️ Hypothetical Example: If you hold Fidelity-specific mutual funds, you may need to sell them before completing the transfer and reinvest at Wealthfront.
Step 5: Know the Tax Implications
Direct Roth IRA transfers are typically tax-free. However, timing matters. The IRS allows one rollover per 12-month period across all your IRAs.
📝 Note: Consult a tax professional if you’ve performed other IRA rollovers recently to ensure compliance.
Step 6: Track Your Transfer
Monitor your transfer through both Fidelity and Wealthfront online platforms. Most transfers complete within 5-7 business days, though complex asset transfers might take longer.
Step 7: Verify Successful Transfer
After the transfer completes:
✅ Confirm your full balance has transferred
✅ Review for any unexpected fees
✅ Ensure investments align with your overall strategy
Step 8: Finalize and Realign Investments
After transfer, review your Wealthfront investment allocation. You might need to rebalance or adjust your portfolio to match your original investment strategy.
Final Thoughts on Your Roth IRA Transfer
Transferring your Roth IRA from Fidelity to Wealthfront is a straightforward process when approached carefully. The key points to remember are:
✅ Use a direct trustee-to-trustee transfer to avoid tax complications
✅ Verify that your personal and account information matches exactly between providers
✅ Gather all necessary documentation before starting the transfer
✅ Monitor the transfer process to ensure a complete and accurate transition
✅ Be prepared for temporary market exposure if certain investments require liquidation
Next Steps: Contact Wealthfront to initiate the transfer, and ensure you have all required personal and financial documents ready. Consider consulting a tax professional if you have any unique circumstances surrounding your transfer.
By taking a methodical approach, you can ensure a smooth transfer while keeping your retirement savings protected and aligned with your long-term financial goals.
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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/).