I want to open a Roth IRA account. I decided to read a guide on how to do so, namely:


But i'm stuck on "The best way to open your Roth IRA is through an experienced investing advisor who will meet with you face-to-face. Online brokers, mutual fund companies and even your local bank can help you with the paperwork. But an investing advisor will walk you through the set-up, and you can use their knowledge and experience to help you choose the investments you'll make through your new Roth IRA."

Where do I find an advisor/broker? In the case of local bank, is it as simple as going to Chase Bank, and then asking them for information?

  • 1
    I opened my first Roth IRA last year. Did it online through the portal of a company with whom I have an existing relationship. No physical paperwork, no meetings. Took about five minutes. Have you checked the website of the financial companies you are already working with (such as Chase)?
    – gef05
    Jan 10, 2016 at 5:41
  • It appears they have a "let an advisor email you" button, so I gave that a click and filled out the info Jan 10, 2016 at 22:44

2 Answers 2


Total BS, forgive my French. You can open a IRA account (Roth or not) with any on-line broker. An adviser can help you deciding how to invest, but there's nothing in opening an account you need to pay a third party for. A couple of clicks and you have an account, really not complicated.


It is very simple to open an account.

If you only want to put your Roth funds in to a bank account or Certificate of Deposit, many local banks or Credit Unions can open a Roth IRA for you.

If your are interested in mutual funds or ETFs any one of the major investment companies can create an account in a matter of minutes. The large companies have dozens of funds for you to invest in.

If you want to trade stocks, then there are companies that can do that also.

Some companies can fill all three roles.

Here is the best thing about a IRA or Roth IRA. If you decide that later you want to change companies, or investment styles: selling the funds/stocks you have and rolling your funds into a different investment or even to a different investment company can be done and will not trigger a taxable event.

So take little time, you have about 90 days before the IRA window for 2015 closes an tax day, Pick a investment company that has many investment options, that has low initial investment requirements, and has low fees. Once you have done so, open that account and pick an investment vehicle, and put your Roth funds into the account.

Note: don't wait until the last week to open and fund the IRA. They can be very busy and you wouldn't want to miss the deadline. Also realize that you can file your tax form before making the actual investment. Many people use the refund to help fund the IRA/Roth IRA.

  • 1
    A few notes: when you open, or add to, an IRA (Roth or traditional) during the first 3.5 months of the following year, be sure they record that money as for the previous year; this is not automatic. And a rollover or transfer not only avoids tax now, it preserves the future exemption (for Roth, except < 5yrs) or deferral (for trad). However, there may be administrative fees for closing one account (or less often opening another) so don't switch too frequently. Jan 12, 2016 at 19:16

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