Step 1: Request your rollover
To get started with your rollover, click on Move Money at the top of your Ellevest dashboard and then select Transfers/Rollovers. On the next page you’ll select the option for 401(k) or 403(b) and enter your account balance.
Step 2: Upload documents
The next step is to upload copies of both your most recent 401(k) or 403(b) plan statement and disclosure via our Secure Document Uploader. Please note that you’ll need to be logged in to your Ellevest account to access the page. If you need any assistance finding your plan disclosure document, click here for some helpful tips.
Step 3: Review your detailed analysis
We'll conduct a detailed review of your current 401(k) or 403(b) plan, including what you pay in fees, your investment options, and what advisory services may be available to you. We’ll email our analysis to you as to whether rolling over your 401(k) or 403(b) balance to an IRA at Ellevest may be in your best interest.
Step 4: Initiate rollover
If you decide to roll over your 401(k) or 403(b) to Ellevest, you’ll need to confirm by pressing the “Initiate Rollover Now” button in the email containing your analysis and personalized recommendation (see Step 4). This will bring you to our site where you can review our recommended investment portfolio and electronically sign our Client Agreement.
Step 5: Call current provider
After you e-sign, the last step is for you to call your current 401(k) or 403(b) provider to initiate the rollover. When you call, state that you want to do a direct rollover of your 401(k) or 403(b) account to an IRA at another provider and ask them to send a check to Folio Investments with the instructions below:
- Check should be made payable to “Folio Investments FBO [Full Name] [IRA Type] [Folio Account Number]”*
- Check should be sent to:
8180 Greensboro Drive, 8th Floor
McLean, VA 22102
It’s very important that the check is made out to Folio Investments, and not you directly, to ensure that the transaction is considered a direct rollover. Additionally, if your provider won’t send the check to Folio directly, then you’ll need to ask them to send it to you; when you receive the check, you’ll have to send it to Folio.
*To find your account number, please log into your Ellevest dashboard and click on the user icon in the top right-hand corner. Then you’ll click on “Login” and scroll down to the bottom of the page:
Step 6: Sit back and relax!
Once Folio receives the check, we’ll invest the funds in the recommended portfolio for your Ellevest IRA. We’ll send you an email to let you know that your 401(k) or 403(b) rollover has been completed, and you’ll see your retirement accounts on your Ellevest Digital or Premium dashboard.