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So last year we rolled over my 401k at ex-employer to Brokerage account in Edward Jones; I know, a big blunder on my side, especially in light of their new Guided solutions / fee based accounts. Now, we would like to transfer this account to Vanguard. Current EJ account has several American Murual Funds.
I talked with a Vanguard rep and he explained the process, which is quite straight forward. We also checked on blogheads for people's experience. Most of this is quite simple, except one question. We learned that when we transfer the account, typically Vanguard would hold onto the Mutual funds which are with EJ; however, if we wish to transfer them, let's say to Vanguard funds, we would have to liquidate them and then invest into Vanguard funds, which is typical in any such transaction. However, the question we have is, should we liquidate these funds before transfer or after? After looking at the EJ fee structure, we are little uncomfortable with EJ, but we were wondering which is preferable.
If there is any useful thread, please direct us. Thanks for your help.
J&A
I talked with a Vanguard rep and he explained the process, which is quite straight forward. We also checked on blogheads for people's experience. Most of this is quite simple, except one question. We learned that when we transfer the account, typically Vanguard would hold onto the Mutual funds which are with EJ; however, if we wish to transfer them, let's say to Vanguard funds, we would have to liquidate them and then invest into Vanguard funds, which is typical in any such transaction. However, the question we have is, should we liquidate these funds before transfer or after? After looking at the EJ fee structure, we are little uncomfortable with EJ, but we were wondering which is preferable.
If there is any useful thread, please direct us. Thanks for your help.
J&A
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