Another Question about Switching from VG to Fidelity

[MercyMe]

I'm getting ready to transfer my portfolio from Vanguard to Fidelity and currently have VWELX (Vanguard's Wellington fund) in my Roth account at VG. This Roth account consists only of the backdoor conversions I've done each year to max it out.

There is no ETF for this particular fund so if I transfer the account to Fidelity, it appears that the only way to buy more of it (without paying a fee to Fidelity) would be to buy it at Vanguard each year and then transfer it to Fidelity. Not sure that is kosher though.

Any thoughts if I want to keep investing in my Roth in VWELX and don't want to stick with Vanguard?

 

[Phroig]

I believe Fidelity charges $5 if you auto-invest in TF funds that you already own. You can start and stop any time. The other thing you could do is keep the VWELX you currently have and invest in Fidelity’s Balanced or Puritan fund going forward.

 

[Texas Proud]

Another thought is to leave that account at Vanguard and transfer any others you have...

 

[MercyMe]

Thanks. We’re actually trying to consolidate all of our accounts at Fidelity. I don’t want to leave two small Roth account out of the picture. Really need to get them to Fido.

 

[MercyMe]

I believe Fidelity charges $5 if you auto-invest in TF funds that you already own. You can start and stop any time. The other thing you could do is keep the VWELX you currently have and invest in Fidelity’s Balanced or Puritan fund going forward.

Thanks. What is a TF fund?

 

[Phroig]

Thanks. What is a TF fund?

Sorry - that’d be a transaction fee fund, which VWELX is at Fidelity.