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I've read a few posts here and here to educate me on the pros/cons for the type of IRA.

I currently have a bank account with a major bank and a brokerage account with a major brokerage company.

How should I evaluate where I should open up my rollover IRA?

A few things I can think of:

  • investment choices
  • IRA fees (Generally which place will have lower fees?)

What else?

Should I consider another institution?

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milesmeow
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1 Answers1

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You should definitely consider other institutions - depending on what your goals are.

For example, if you want to invest in target-date funds - I'd suggest opening the account at the firm that manages them (Vanguard comes to mind). If you want to have a self-directed IRA you should find an administrator that allows that for the lowest fees. If you want a trading account - go for the brokerage with the best trading system and/or lowest trading fees. Etc etc.

List your criteria, and then make a comparison chart and chose the one that comes out the best.

By the way, you can open more than one account and roll-over the amounts to several accounts.

littleadv
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