Vanguard to exit some IRAs

[dualstow]

From another thread:

…
Vanguard fell out of bed and dumped solo 401ks to another company
https://www.bogleheads.org/forum/viewtopic.php?t=429947
…

Hope they leave Roth IRA’s alone.

[yankees60]

From another thread:

…
Vanguard fell out of bed and dumped solo 401ks to another company
https://www.bogleheads.org/forum/viewtopic.php?t=429947
…

Hope they leave Roth IRA’s alone.

That is news from about April 2024.

It also applied to other business retirement accounts. It'd be a huge surprise if they did the same with individual retirement accounts.

[barrett]

FWIW....

Fortunately there are still other options for Solo 401k accounts. My wife still has a Solo 401k Roth account with Etrade. That used to be with TDA but they didn't want to deal with the Solo 401k Roth accounts anymore after being acquired by Schwab, so we had to move it to Etrade a couple of years ago. I am expecting that she will retire in a couple of years and that we can merge that account into her regular Roth at Fido after turning 59.5. Fido has zero interest in "hosting" Solo 401k Roth accounts, even though doing so it would mean more assets under management.

[dualstow]

What a pain. I don’t want to have 3 brokerage accounts. If one stops hosting my Roth IRA (Vg) or my solo 401k (Fido), I’ll move everything out.

[yankees60]

FWIW....

Fortunately there are still other options for Solo 401k accounts. My wife still has a Solo 401k Roth account with Etrade. That used to be with TDA but they didn't want to deal with the Solo 401k Roth accounts anymore after being acquired by Schwab, so we had to move it to Etrade a couple of years ago. I am expecting that she will retire in a couple of years and that we can merge that account into her regular Roth at Fido after turning 59.5. Fido has zero interest in "hosting" Solo 401k Roth accounts, even though doing so it would mean more assets under management.

I first rolled everything but $1,000 out of my Solo 401(k) Roth to a Rollover Roth IRA. I let the remaining $1,000 get transferred to Ascensus.

There are plenty of places that offer Solo 401(k). But not that many that does Roth. Fidelity does the former but not the latter.

[barrett]

Some good news to report, Vinny... if it comes to pass. I was on the phone with a Fidelity rep yesterday about another matter and we got to talking about Solo 401k and Solo 401k Roth accounts. This guy said that Fidelity is soon going to be offering the Solo 401k Roth option. He made it sound like it's only a matter of a few months.

Hope this actually happens. I've been asking them about the Roth option maybe once a year for eight years or so. The people I have dealt with never showed much interest even when I said "mumble, mumble, mumble, but assets under management, sir".

So, hopefully this change is coming.

[yankees60]

Some good news to report, Vinny... if it comes to pass. I was on the phone with a Fidelity rep yesterday about another matter and we got to talking about Solo 401k and Solo 401k Roth accounts. This guy said that Fidelity is soon going to be offering the Solo 401k Roth option. He made it sound like it's only a matter of a few months.

Hope this actually happens. I've been asking them about the Roth option maybe once a year for eight years or so. The people I have dealt with never showed much interest even when I said "mumble, mumble, mumble, but assets under management, sir".

So, hopefully this change is coming.

Hopefully, it does come to pass.

People complain a lot of many aspects of Vanguard. However, getting to my Solo 401(k) information was so incredibly easy compared to what I have to deal with at Ascensus. It's the typical terrible employee 401(k) web site.