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?

1 Answer 1


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.

  • I didn't know you can rollover to different accounts. Thanks!
    – milesmeow
    Mar 24, 2013 at 20:31
  • @milesmeow - indeed the "A" in IRA stands for "Arrangement." You can have as many 'accounts' at as many institutions as is practical to track and fund. The rules for annual deposits up front and RMDs at withdrawal time are for your total account balances. Mar 25, 2013 at 12:38

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