Vanguard is folding its solo 401k business - any recs for a new provider?

[Anonymous]

yeah0im not happy about this either, I will be going with Fidelit, It has to be done before mid July so before Ascencus takes over.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would vanguard do this? I’d think they would want to capture this market of entrepreneurs and self-employed

It's the back office operations. This company already manages 529 plans for Vanguard. From the retail customer standpoint it's all done on the Vanguard site. Most customers won't notice a difference.

PP here, now that we see the communication from Vanguard, this was incorrect. All management/websites will be from Acsensus. They will still offer mainline Vanguard mutual funds as investment options, so most people won't have to do any changes to their portfolio if they don't want to.

[Anonymous]

Ugh. I just moved my solo 401k to vanguard as well as roll over an employer 401k into an IRA. More than annoyed right now. Almost went with Fidelity. Now I’m scared that if I move up Fidelity they are going to close their solo 401k shop too.

[Anonymous]

We are annoyed too. Moving to Fidelity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would vanguard do this? I’d think they would want to capture this market of entrepreneurs and self-employed

It's the back office operations. This company already manages 529 plans for Vanguard. From the retail customer standpoint it's all done on the Vanguard site. Most customers won't notice a difference.

PP here, now that we see the communication from Vanguard, this was incorrect. All management/websites will be from Acsensus. They will still offer mainline Vanguard mutual funds as investment options, so most people won't have to do any changes to their portfolio if they don't want to.

I’m dealing with Ascensus login with a 529 and it’s fine. Maybe see it through before you freak out and jump ship.

Spouse has a solo401k at Schwab and they still administer it. The solo401k rules about check deposits are annoying but that a federal rule. You’ll have to do that anywhere. He does like visiting a branch to do it directly.

[Anonymous]

I did a direct rollover to a SEP IRA with Fidelity.

[Anonymous]

are mega backdoor roth ira's staying or will that be voted out?

[Anonymous]

I have Schwab and it requires sending a physical check. Definitely a pain but no complaints otherwise.

[Anonymous]

Would this impact someone who has just retired and was going to move money from tiaa to vanguard (largely index funds) for lower fees?

Should I move into Fidelity instead??