Firstrade and Capitalize Partner to Simplify 401(k) Rollover Process for Firstrade Clients
Firstrade, a leading commission-free online brokerage, has partnered with Capitalize, a leading platform for digital retirement account rollovers, to make the 401(k) rollover process easier for its clients. The partnership allows Firstrade clients to seamlessly transfer legacy 401(k)s into Firstrade retirement accounts using Capitalize's Rollover API, which has facilitated billions of dollars in retirement account transfers since 2020. This integration aims to eliminate the hassle of navigating the rollover process without help, providing a streamlined and digital-first way to prepare for retirement.
Key Takeaways:
- Firstrade clients can now use Capitalize's Rollover API to roll over legacy 401(k)s into Firstrade retirement accounts, eliminating the need for paper forms and phone calls.
- The partnership aims to reduce the average time it takes to roll over a 401(k) from several weeks to mere minutes.
- Firstrade's No-Fee IRA has no account minimums, no maintenance fees, and no inactivity fees, making it a cost-effective option for users.
- Capitalize's rollover technology has facilitated billions of dollars in retirement account transfers since 2020.
- Firstrade has integrated Capitalize's Rollover API directly into its onboarding process for retirement account members, providing a seamless experience.
Statistics:
- Capitalize's Rollover API has facilitated billions of dollars in retirement account transfers since 2020.
- The traditional rollover process can leave an estimated $1 trillion in 401(k) accounts behind for job changers.
- Firstrade's No-Fee IRA has earned strong recognition from multiple review platforms for its no-fee structure.
Sources:
- Firstrade Securities Inc.
- Capitalize
- Financial times
- Time Magazine
- Fast Company
- Forbes