Moving funds to Fidelity question

Investing
#1

When I was employed as a CPA, all my investments were with the wealth advisors our firm had partnered with. My 401k’s and IRA’s. I have since left the firm and all my 401k amounts were moved into my IRA.

I now took the steps to move all my IRA balances to my Fidelity account. The advisors I was working with previously used Charles Schwab. It looks like the funds were transferred over and kept in the same mutual funds and EFT’s that they were in at Charles Schwab (didn’t know that was going to happen).

I am now trying to go in and move all the balances to a target date index fund, but when I do this transfer, it mentions a fee because of the short term hold (less than 60 days). Does this sound right? I really want to get them in index funds and will wait if necessary to not have to pay this fee. Can anyone give me some insight on this.

I have tried chatting and calling Fidelity about this. There wait time right now is unreal.

#2

Hi Bridget,

I hope this helps.

#3

When I go in to sell the shares of what was automatically invested when the transferred happened from Charles Schwab, this is the message I get. I am curious if I will a fee charged if I wait 60 days? I have about 7 funds in both my traditional and Roth that the funds were put in when the transferred happened and don’t want to be charged a ton to sell and rebuy into the target date index funds.

“This sell will be completed at the next available price. Fidelity will charge a Transaction Fee each time you sell shares of FundsNetwork® funds purchased without a Transaction Fee or Load and held less than 60 days (short-term trade).”