Personal Investments • Ascensus Does Not Transfer in Kind

Hello all,

I recently let my solo 401(k) move to Ascensus from Vanguard. It is 100% VTSAX with a current value of 245k. I called them to see where I contribute, and I was...not impressed with their service reps. Also their websites are abysmal. I had to register on two different sites just to be able to contribute. I was thinking of moving it to Fidelity, but when I called they said Ascensus does not transfer in kind, so I would have to liquidate the entire portfolio and then purchase all new funds at Fidelity. I wouldn't incur a taxable event if I did a rollover, but let's say I did that, I'd be buying 245k of FSKAX.
I don't really like that idea, as I've been buying VTSAX in the existing account for 5 years.
What are peoples' thoughts on the above? Am I wrong in thinking I'd be losing out on all the shares of VTSAX I bought at the much lower price than it is today?

Thanks

That is not uncommon. I don't think I've ever been able to do an in-kind rollover from a. 401(k). It's always cash.

Am I wrong in thinking I'd be losing out on all the shares of VTSAX I bought at the much lower price than it is today?

I have no idea what this means. Who cares what you bought the shares for?

I get stumped by this last question too. We’re always told to “buy more shares” when prices are down, but what if you sell those shares and buy fewer shares at a higher valuation with a transfer like this? Then you are left with fewer shares. Please explain this like I’m 5!!

Statistics: Posted by PVW — Wed Aug 07, 2024 5:00 pm — Replies 35 — Views 3074