If you have a 401(k) account and recently left your job or were laid off, you might be wondering what to do with your retirement investments. But even if you left your employer some time ago and still have a retirement account there, you have several options when it comes to finding the best place to roll over your old 401(k):
- Brokers: An online broker is a great option if you want to “do it yourself” and use your investing expertise to invest.
- Robo-advisors: A robo-advisor is a great pick if you want someone to manage your money at a low overall cost. Robo-advisors often add a number of other valuable features such as tax-loss harvesting.
Here are the best places to roll over your 401(k) into an IRA and what you need to know to make a smart decision.
Best online brokers for a 401(k) rollover:
Overview: Top online brokers for a 401(k) rollover in 2025
Charles Schwab
Charles Schwab is strong in every category and caters well to customers from novice to expert. If you’re looking to buy mutual funds similar to those that you owned in your 401(k) or buy some of the lower-cost Schwab-brand variants, then the broker will probably deliver with its thousands of no-transaction-fee funds.
The customer service is excellent here as well, and if you’re looking to trade, you’ll probably find something to love on the highly customizable thinkorswim trading platform. And yes, Schwab does offer free stock and ETF trades, too, so you can add almost any company to your portfolio.
- Standard pricing for mutual funds: $0 for Schwab funds or no-load, no-transaction-fee funds; otherwise, up to $74.95
- Mutual fund highlight: About 4,200 no-load, no-transaction fee mutual funds
Wealthfront
Wealthfront is an excellent choice if you’re looking for someone to manage your rollover into an IRA. This robo-advisor can create a portfolio based on how much risk you’re comfortable with and when exactly you need the money. You’ll receive automatic rebalancing to keep you on track to your goal, and you’ll pay reasonable fees for the funds you’re invested in, too.
Wealthfront also features some top tools, including an automated financial planner that can help you track all your investments, even at other institutions, and see how they all work together to get you to your goals. You might also consider opening a cash management account, as it can be an attractive alternative to a bank account, or use it to hold cash while you’re waiting to contribute to your rollover IRA.
- Standard pricing: Management fee is 0.25 percent of assets annually
E-Trade
E-Trade is a great all-around broker, but it likely stands out best for its fundamental research, which can be especially valuable for newer investors or those without another source of research. If you need a fully featured mobile app, the broker has you covered with its Power E-Trade platform, though it does all the basics well, too. The broker eliminated commissions on mutual funds, making it one of the best brokers for long-term investors. Plus, ETFs and stocks can be traded with no commission, as is standard for online brokers.
- Standard pricing for mutual funds: Free
- Mutual fund highlight: More than 6,000 no-transaction-fee mutual funds
Fidelity Investments
Fidelity is an exceptional broker in almost every aspect, but it’s excellent for beginners or those who seek top-notch customer service. Fidelity’s representatives are quick to respond to your questions, which is a big advantage for those of us who don’t deal with the investing and retirement landscape every day.
Those looking for more advanced features will find them in the broker’s Active Trader Pro platform. Plus, Fidelity is great for low account fees and offers free stock and ETF trades, too. Fidelity was named the best broker overall as part of the 2025 Bankrate Awards.
- Standard pricing for mutual funds: Free for Fidelity funds, and $49.95 on the buy and $0 to sell transaction-fee funds
- Mutual fund highlight: Offers four zero-fee index funds and nearly 3,300 no-transaction-fee mutual funds
Betterment
Betterment is one of the largest and most popular robo-advisors, and it can take your 401(k) rollover money and construct a balanced retirement portfolio. Betterment uses funds from 13 different asset classes to build its portfolios, offering a wide range of diversified investments. Plus, if you’re interested in social impact investing, Betterment can add these funds to your portfolio.
Betterment’s funds are low cost – on average costing about $7 annually for every $10,000 you have invested – and it also automatically rebalances your account when it drifts more than a few percent away from your target allocations. This robo-advisor allows you to buy fractional shares, so all your money is invested and working for you. You can also open a comprehensive cash management account here that offers a competitive interest rate.
- Standard pricing: Management fee is 0.25 percent of assets annually
Firstrade
Firstrade doesn’t charge commissions on more than 11,000 mutual funds (though the funds themselves may) and offers access to robust fund research and an advanced screener that should help you identify the mutual funds that best fit your needs. You’ll also get free stock and ETF trading.
Firstrade’s mobile app also makes it easy to keep up with your portfolio on the go, easily tracking news developments on your investments or making trades. The broker offers commission-free options trades, though that shouldn’t be part of your retirement investing strategy.
- Standard pricing for mutual funds: $0 on all mutual funds
- Mutual fund highlight: No broker commissions on more than 11,000 mutual funds
Interactive Brokers
Interactive Brokers is a great fit for active and professional traders, but it can work for retirement and beginner investors, too. You can use the broker’s IBKR Lite pricing plan for free trades or go with the Pro plan, where trades cost just a half-cent per share, with a $1 minimum per trade. The broker also offers a competitive price for trading mutual funds, but its list of no-transaction-fee funds is the most in the industry. Interactive Brokers was named the best broker for advanced traders as part of the 2025 Bankrate Awards.
- Standard pricing for mutual funds: Free for no-transaction-fee funds; otherwise, 3 percent of trade value or $14.95 (whichever is less)
- Mutual fund highlight: More than 18,000 no-transaction-fee mutual funds
Merrill Edge
Merrill Edge is a solid overall selection, because it offers a full range of brokerage services. However, it makes an especially great selection if you’re already a customer of its parent Bank of America. That’s because you can access all your accounts in one location and have quick transfers between your bank and brokerage accounts. Plus, you can access Merrill’s reps at many Bank of America locations.
Merrill also charges no commissions for stocks and ETF trades, while standard commissions on mutual funds are $19.95. However, with more than 800 no-transaction-fee mutual funds, you won’t have a hard time finding a few that you like.
- Standard pricing for mutual funds: $0 for no-transaction-fee funds; otherwise, $19.95 for online buys and sells; $29.95 for representative-assisted transactions
- Mutual fund highlight: More than 800 no-load, no-transaction-fee mutual funds
Schwab Intelligent Portfolios
Don’t get Schwab’s do-it-yourself brokerage confused with its do-it-for-me robo-advisor, which is called Schwab Intelligent Portfolios. Either way you go, though, Schwab brings its investor-friendly ethos. The headline news about this robo-advisor is that it charges no management fee to build and run your portfolio. How does it make money then? By investing your money in its in-house funds, which nevertheless are some of the cheapest available in the market.
You’ll need at least $5,000 in your account to take advantage of Schwab’s automated investing service. If you want unlimited access to human financial advisors, you’ll need to roll over at least $25,000 (or build the account to this much) and then pay $30 a month, after a one-time $300 set-up fee. You’ll also benefit from Schwab’s 24-hour customer support team any day of the week.
- Standard pricing: No management fee
Fidelity Go
Fidelity Go is the robo-advisor service offered by Fidelity Investments, and it’s the name to turn to if you want the financial institution to manage your portfolio. You’ll get an investment portfolio created for your needs, and the well-known customer support of Fidelity to go with it. The pricing here is particularly attractive for smaller accounts, with the robo-advisor not charging anything until the account reaches $25,000. Larger accounts pay a reasonable 0.35 percent, and that includes the cost of the funds you’re invested in, unlike most other robo-advisors.
You won’t need to hit a minimum size to open the account. However, if you can meet that $25,000 threshold, Fidelity Go also offers unlimited one-on-one coaching sessions with human advisors. So that can be a real value-add – and all for a reasonable cost.
- Standard pricing: No fees for accounts under $25,000; 0.35 percent annually for those larger than $25,000
Vanguard
Vanguard is the granddaddy of retirement investing, blazing the trail for low-cost retirement investors everywhere. Vanguard not only charges $0 for stock and ETF trades but the entire Vanguard family of mutual funds charges no commission(and free even if you need a broker’s assistance to place a trade), while the company discounts trades for other fund companies to $0 as well if they’re on the no-transaction-fee list. Otherwise, commissions will run $8-$20 per trade, though customers with more than $1 million in Vanguard funds will receive their first 25 trades free.
If you’re a buy-and-hold long-term investor, Vanguard is an excellent vehicle for you, because you know it’s always going to look for ways to serve its customers.
- Standard pricing for mutual funds: Free for Vanguard family funds and other no-transaction-fee funds; $8 to $20 for others
- Mutual fund highlight: Highly regarded for its low-cost index funds and offers more than 3,000 no-transaction-fee funds
What to consider when choosing a broker
If you’re planning to roll over your 401(k) into an IRA, you’ll likely be most concerned with a broker that can do the following things best. Most brokers do offer an IRA, but some popular ones do not, though the brokers above all offer IRAs. We also considered the following factors when selecting the top places for your 401(k) rollover.
Price
Trading commissions for stocks and ETFs have fallen to $0 at online brokers, and that’s great for investors. But there are other costs, too, perhaps most notably account fees, such as fees for transferring out of your account.
No-transaction-fee mutual funds
The brokers in the list above offer thousands of mutual funds without a transaction fee. If you’re rolling over your 401(k) and you like the mutual funds you have already, these brokers may allow you to buy and sell the same one without a fee or at least a similar one.
Investing strategy
While a 401(k) may limit your investing options to a pre-selected group of mutual funds, an IRA gives you the ability to invest in almost anything trading in the market. So we considered how each broker might fit an investor’s needs.
What are your choices for a rollover?
In general, once you leave a job you have three choices for how to deal with your employer-sponsored retirement plan:
Leave it with your old employer’s 401(k) plan
This approach requires the least amount of work, but may require you to have a minimum amount (often $5,000) if you plan to maintain the account there.
Roll it over into your new employer’s 401(k) plan
This approach will require you to file some paperwork, but you’ll have all your 401(k) money in one place. This choice can make sense if you like your new employer’s plan.
Roll it over into an IRA
This move will require you to file some paperwork, but then you’ll have the complete freedom to invest the money as you see fit. If you liked the investment options (such as mutual funds) you held in a previous plan, you may still be able to access those via an IRA.
(If you run an independent business and have established a solo 401(k), that’s another option for a rollover. But this option is not typical for most individuals.)
If you roll over your 401(k) into an IRA, you’ll also want to consider the kind of rollover you need.
With a Roth 401(k), you’ll likely be more interested in a Roth IRA, so that you can maintain the substantial advantages of that plan.
If you have a traditional 401(k), then you’ll probably opt for a traditional IRA.
(Here are the key differences between the Roth IRA and traditional IRA.)
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