u/crunchyturdeater

.25¢ per share annually? Or .25¢ per share quarterly?

Successfully completed a TOA to Fidelity.

Previously my account was managed by a 'friend' of the family type of advisor. They managed accounts for uncles, aunts, etc since the 80s... As a noob, I trusted family members referrals but after some time I began to question the yearly cost of trusting their referrals.

Looking at what the previous advisor bought on my behalf, I see there was a substantial amount of amefx in my taxable account.

Would there be a benefit to liquidating amefx and purchase something like fskax?

Or would the sale trigger a taxable event that might negate any benefit?

Thoughts and discussion!

I am one who had a Roth IRA and a taxable account with another firm, and this firm had a 1% AUM fee. The kind of investment broker that well meaning family might recommend...

Eventually, I began to realize that I didn't have a complicated investing method. It is unlikely that I will have complicated tax situations, or even several million dollars or properties which may require someone to help navigate wealth in that sense. This 1% fee was really going to be taking away quite a bit. Thank you Ramit

I had no business being in an actively managed account for 1% win or lose. Stand or fall.

I decided to finally open up a fidelity account. A taxable account, and a Roth IRA. I initiated the transfer of assets both in the taxable account and the Roth over to fidelity.

While at the Fidelity branch in my neighborhood, I was getting ready to initiate the transfer and I see the fine print on the Fidelity web page regarding fractional shares being liquidated.

I am concerned regarding the fractional shares which will have to be liquidated into Cash before being moved over. Is this going to create any sort of taxable event?

And am I supposed to notify my old financial advisor that I'm leaving? I'm sure they've heard it all before, or maybe they haven't. Maybe they are used to people being willing to pay that money. Maybe 1% isn't a big deal to folks with lots of resources. I don't know. Feeling kind of jittery and just hoping for the best.

Making a new path is always a little nerve-racking at first. Just hoping for a little guidance, and others experience if they have any in this regard.

TLDR:

Will fractional shares left over from transfer of assets create a taxable event?

After initiating the transfer, do I have to notify my old advisor that I am leaving? Or will they kind of get the message?

So I open up an account with Fidelity, I load up the Roth IRA with the Boglehead simple three fund portfolio.

Set it and forget it right?

So why do I have this nervous feeling? Is this normal too?

What gives?

I know to ride it out, whatever May come, don't mess with it. But what is the origin of this nervous feeling?

Late to the party. Is 44 too late to start? Wanna FSKAX and FXAIX for the next 15 to 20 years.

Is it too late?