I paid a broker $1,400 in fees to move my 401k and the bank would have done it free

Drew Jenkins · 2026-10-23T10:55:05.421697+00:00

Back in March I rolled over an old 401k from a job in Austin and decided to use a broker because a guy at my gym said the bank branch would mess it up. He charged me a flat $1,400 plus a 0.9% yearly fee on the account, which I did not read closely enough at the time. The actual transfer took six weeks of phone calls and two forms I had already filled out once. My credit union down the street does the same rollover for $0 and a 25 minute meeting, which I found out from a teller when I was depositing a check. So now I am out $1,400 and locked into a fee I have to unwind. Has anyone here moved an account back from a broker to a bank, and did they hit you with a closing fee?

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I paid a broker $1,400 in fees to move my 401k and the bank would have done it free | Bank Vs Broker - Rigidtalk