IRA transfers typically take 2 to 6 weeks. During that time, we’ll contact your current IRA provider if they support electronic transfers, and they will sell the investments in your IRA. When the funds arrive at Ellevest, we’ll purchase the ETFs in your recommended portfolio. All you have to do is sit back and relax. We’ll let you know if we have any questions or need more information.
If your current IRA provider doesn’t support electronic transfers, then you will need to liquidate your portfolio and ask your current provider to send a check to Folio Investments. If your current provider will only mail the check to you, then you must send the check to Folio Investments within 60 days of the check date to avoid any penalties. Please see here for more details on that process.