Friday, January 13, 2012
How do I move my Roth IRA at WM Financial Services to another one (eg. Vanguard, Fidelity or Scotttrade)?
I have a Roth IRA with WM (Washington Mutual) Financial Services since college. Since my intial deposit in June 2004, I'm not too happy with the performance, the Morningstar rating on my funds have dropped and I've been enticed by other companies such as Vanguard or Fidelity. Can I make this switch and will there be fees incurred? If I can move the existing balance to a new company, do I have to start over the "5-year" hold period required to withdraw with no 10% penalties or taxes for first-time home-buyers even though I've aculated 3 years since my first deposit??
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