I am retired and over 59 1/2.
I recently moved a majority of my 457b balance from T Rowe Price, and all of my Vanguard Roth IRA balance of over 20 years, to Fidelity.
So far I have been very pleased.
Vanguard's customer service is abysmal. I rarely needed to call them but recently I have been considering periodic Roth conversions from my 457B and wanted clarity of some details on the process, if I chose to do so.
The first line of customer service was useless. I then waited on hold again after being transferred to a Vanguard "specialist".
After one and a half hours total hold time, an unenthusiastic "specialist" gets on.
I asked about rolling over funds from my 457b to a Vanguard Rollover IRA, and then do periodic conversions to my Vanguard Roth.
He says to have a check mailed to me from T Rowe Price and then deposit that into the Rollover IRA.
When I ask why I would do that, he says mailing addresses change. I asked when the last time a rollover address changed with Vanguard, he responds he didn't know.
I then said that having a check delivered to me would be an indirect rollover and I would be limited to one in a 12 month period. If I had that check or checks sent from one institution to another its limitless. He still insisted having the check sent to me was the way to go.
That is purely lazy incompetent advice.
I am relatively conservative and currently only invest in fixed income investments. Fidelity has good choices as opposed to my T Rowe Price account while retired, hence the reason for transferring most funds out.
My wife still has a sizable rollover IRA with Vanguard and we intend on moving it to fidelity.
I recently moved a majority of my 457b balance from T Rowe Price, and all of my Vanguard Roth IRA balance of over 20 years, to Fidelity.
So far I have been very pleased.
Vanguard's customer service is abysmal. I rarely needed to call them but recently I have been considering periodic Roth conversions from my 457B and wanted clarity of some details on the process, if I chose to do so.
The first line of customer service was useless. I then waited on hold again after being transferred to a Vanguard "specialist".
After one and a half hours total hold time, an unenthusiastic "specialist" gets on.
I asked about rolling over funds from my 457b to a Vanguard Rollover IRA, and then do periodic conversions to my Vanguard Roth.
He says to have a check mailed to me from T Rowe Price and then deposit that into the Rollover IRA.
When I ask why I would do that, he says mailing addresses change. I asked when the last time a rollover address changed with Vanguard, he responds he didn't know.
I then said that having a check delivered to me would be an indirect rollover and I would be limited to one in a 12 month period. If I had that check or checks sent from one institution to another its limitless. He still insisted having the check sent to me was the way to go.
That is purely lazy incompetent advice.
I am relatively conservative and currently only invest in fixed income investments. Fidelity has good choices as opposed to my T Rowe Price account while retired, hence the reason for transferring most funds out.
My wife still has a sizable rollover IRA with Vanguard and we intend on moving it to fidelity.
Statistics: Posted by mwusa1 — Thu Apr 18, 2024 5:42 am — Replies 17 — Views 1256