Most individuals have their retirement savings in the 401(k) account, then roll over or move their assets to the IRA account. It is the usual practice among people who want to change their jobs or have more control over their savings for retirement.

With this change, you will be able to maintain the retirement plan tax-advantaged and without any additional penalties, and it also allows you to enjoy the tax benefits related to your retirement account.

Before choosing an account between the traditional or Roth IRA, several factors must be considered, like your financial goals, tax strategy, and withdrawal strategy.

In this article, we have shortlisted some of the best IRA accounts you can consider. Below is the list of some on-hand or off-hand investor accounts.

Betterment

On top of the list is Betterment, one of the great robo-advisors. Betterment will roll over your money from the 401(k) account to the IRA account with an annual fee of 0.25% of the assets, or monthly, it charges 4 dollars to manage your account. It can help you make a diverse portfolio, as Betterment uses three different classes of assets.

Moreover, it also allows you to add funds for social investments. It will be an excellent choice as it uses modern tools for automated trade, rebalancing your account, and making your reinvesting easier. However, the fee could be considered high, and no car needs to be promoted.

Fidelity Investments

If you are a beginner and searching for the best customer service, look no further than fidelity investments. It is a great broker in almost all aspects and areas. Moreover, fidelity investments doesn't charge any fee to open your IRA account, and you can also enjoy the most advanced features, including the Trader Pro platform.

Also, if you deal with retirement and investing scenarios in only a few days, it will be a good fit for you as their representatives quickly respond to every inquiry. You can also enjoy the advisory services limited to those with a 25000 dollar or less account balance.

E-Trade

If you want a great range of options for your IRA account, then e-trade would be a great broker for you. It offers six types of IRA accounts: rollover, Roth, traditional, and others.

E-trade also offers different research tools that may help you make investment decisions. However, if you want to automate investing, the fee is high, at a minimum of 500 dollars.

Also, there is a commission fee associated with some of the investments. But for the stocks, mutual funds, and ETFs, there is no commission fee, and it will help in monitoring and managing accounts with a starting fee of just 15$ annually

Merrill Edge

Next on the list is Merrill Edge. You can manage your IRA account for free at Merrill Edge, or if you want to avail yourself of the investment planning support services, you have to pay a certain amount.

Furthermore, if you want to have support directly from the advisor without any third party, you will have to pay a higher fee, but there is another affordable option also available in which your portfolio is managed, monitored, or rebalanced by a professional team member of the Merrill Edge Investment.

They also offer solid bonuses and zero fees for ETFs, stocks, and other trade options, and they also come with investment guidance. However, keep in mind that this broker offers limited investment options.

Wealthfront

Wealthfront broker is best for the robo-advisor services. They offer diverse investment options, so you can easily choose between them according to your plans. Also, you can automate your investment and avail yourself of a wide range of opportunities in the tech, cannabis, and clean energy industries.

Wealthfront also offers tax-loss harvesting options, including others like socially responsible portfolios or automated investing.

However, there are some cons to the wealth front broker, like there is no physical branch available, and they also need to have promotional offers or charge management fees.

Robinhood

The reason that the 401(k) account is much more popular than the individual retirement account is because of the benefit called the employer match.

The employer contributes some of his amounts to the employee's account, which may match a certain percentage of the individual's contributions. This way, some free money is added to the person's retirement account.

On the other hand, IRAs don't offer this benefit, but the investment platform Robinhood provides this unique feature. It is a simple platform that charges no additional fee or commission fee. However, it has limited investment options, or the contributions you earn will have to remain in the account for five years

J.P. Morgan

If you want to have more control over your investment savings and make your own controlled decisions, J.P. Morgan could be an excellent option for you. If you choose this broker, you will be able to make your own investment decisions while other platforms already have built-in investment plans.

Moreover, there is no need to worry about your minimums or commissions on trade and focus on the type of investment you want to make. This platform also offers strong welcome bonuses, commission-free trades, and thousands of different investment options. However, there are limited research tools and expensive account transfer and closure fees.

Conclusion

You must choose the account based on your retirement goals, investment, and other factors, including fees and advice. However, some important points must be kept in mind when choosing an IRA account, such as low-cost investment, low costs, investment help, and customer support. Based on these, you can select your IRA account for the year 2024.