call Schwab (have your RJ statements handy), they will tell you what needs to be done to move to Schwab, and they will probably do most/all of the work for you. I would not tell RJ until the paperwork is all done and at Schwab. I would then probably send an email to RJ thanking them for their help and letting them know that Schwab will be contacting them to move the money. RJ will probably try their best to keep you at RJ, so be prepared for a hard sell.
Schwab will tell you if your funds can be transferred 'in kind,' that is without selling them at RJ. For taxable accounts selling might mean paying taxes on any gains, for retirement accounts (401k, IRAs, …) there is no tax penalty for selling at RJ.
I refuse to pay anyone 1% per year (or more) for the privilege of keeping my money there. I use low cost index funds at both Fidelity and Vanguard, Schwab is probably just as good.
Schwab will tell you if your funds can be transferred 'in kind,' that is without selling them at RJ. For taxable accounts selling might mean paying taxes on any gains, for retirement accounts (401k, IRAs, …) there is no tax penalty for selling at RJ.
I refuse to pay anyone 1% per year (or more) for the privilege of keeping my money there. I use low cost index funds at both Fidelity and Vanguard, Schwab is probably just as good.
Statistics: Posted by niagara_guy — Thu Feb 15, 2024 4:45 pm