Changed the employer. New employer uses Schwab for 401K, previous employer had Fidelity. Anyone moved 401k from Fidelity to Schwab? How was your experience?

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I had to move my fidelity 401k to vanguard, but I imagine the process is the same. There are rollover contribution forms that you have to fill out and you have to mail the checks from fidelity to Schwab. If you call your new employer’s benefits help desk, they should be able to explain the process. Pretty straight forward.

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First time job change, so definitely helped. Thanks

This happens a lot and the process is definitely easier than how daunting it feels/sounds for a first timer. If you have any concern still just call the Schwab helpline and they’ll be able to walk you through it really easily!

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Thank you 🙏

You can also roll it over into an IRA, which may have more/better financial investment options currently or in the future

Pros/cons for rolling it over to new employer 401k vs IRA?

If it helps, new employer has Schwab for 401k. I use E*TRADE for ROTH IRA and trading.

I’ve rolled over fidelity to Schwab before. Depending if you had traditional and/or Roth 401k at fidelity, call them and they typically move it all out to two IRAs - a traditional/rollover IRA account and a Roth IRA account (with Roth 401k converted to Roth IRA) first. Not sure why they do this but the rep said they need to take the money out from the employer account first before they can do anything w it. Then ask them to send a check to Schwab for the amount you want to transfer. From the Schwab side, you just need to fill out a form (call if you can’t find it), no need to mail, just upload to Schwab message center and they will process the check accordingly once it’s received. Make sure the check says for the benefit of (your name) and it’s addressed to Schwab and not your home address/checking account. Should be a similar process if you want to roll over the Roth portion to e-trade.

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