Capitalize Review

Capitalize offers its customers a way to securely transfer their 401k to an IRA. They keep your info secure and never have custody of your money.

Capitalize logo

Our Partner

401(k) rollovers

AT A GLANCE

  • Free 401(k) rollovers
  • IRA marketplace of providers
  • Long-term support
  • Secure protection of your data
Overall Rating

Free 401(k) rollovers

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Read our Advertising Disclosure

Key Takeaways

Capitalize offers excellent 401(k) rollover services and is highly rated by consumers.

  • 401(k) rollover service with no fees
  • Features many IRA providers
  • 5.0 Trustpilot Rating

Pros & Cons

Capitalize offers some fantastic services, but are those services worth it? Here are some quick pros and cons.

Pros

  • Capitalize transfers your old retirement plan to an existing or new IRA.
  • Capitalize works with the top IRA custodians of the industry.
  • Transfer multiple old retirement plans with Capitalize.
  • Avoid 401 fees

Cons

  • Capitalize does not currently have telephone support
  • No mobile app is available for ease of use

Capitalize was launched in 2020 by co-founders Chris Phillips and Gaurav Sharma. They see the needs of their clients who want to roll over their 401k in an easy process.

Currently, Capitalize has 17 employees and has raised $12.5 million in capital.

Capitalize icon

Quick Summary

Service: 401(k) Rollover Assistance

Cost: Free

Promotion: No current promotions

About Capitalize

Capitalize is a service that makes it easy for clients to roll over their current retirement plan from a previous employer. If you need help transferring an old account or setting up an IRA to move your old account into, Capitalize can help facilitate the process.

Service

Capitalize offers a few different services, all within the realm of transferring your independent retirement account. Whether you are looking to convert your traditional retirement account into an IRA or you want to roll over your old 401(k) from a previous employer, Capitalize has the services to ease and streamline the process.

Convert Traditional Retirement Account to an IRA

Capitalize can help you convert a traditional retirement account into an individual retirement account. Their team of experts will guide you through every step of the process so you won’t have to spend hours doing unnecessary paperwork.

Rollover Your 401(k)

Capitalize can help you roll over either a 401(k) or a 403(b) retirement plan into an IRA. If you don’t have an independent retirement plan, Capitalize will assist you in setting one up with any one of their partners.

Even if you don’t remember what employer the account is with, Capitalize can help you find it. They contact your old employer so you don’t have to by finding the administrator information in their database.

You will want to choose an IRA if you don’t already have one in mind. Capitalize guides you through the process of starting or setting up the account.

Depending on the available options, Capitalize will ask you a series of questions covering investments and fees that feature in many plans.

Other features you may want to consider are:

  • How you want your IRA to work for you.
  • If you want someone to manage your investments or do it yourself.
  • What minimum deposit requirements must be maintained per account.
  • Ease of use, fees, and what brokerage firms you trust.

Lastly, Capitalize will submit the 401(k) information and connect with your old plan administrator to move the account. You will never have to deal with previous employers or ex-administrators using Capitalize since they do that for you. 

Capitalize handles all the administrative endeavors and ensures that the transfer completes seamlessly. The team at Capitalize ensures you are kept up to date throughout the entire process with alerts and updates regarding your transfer. 

The experts at Capitalize want the 401(k) transfer to be a seamless and painless process. They can help you determine what individual retirement account is beneficial for your needs.

Whether you are interested in investment options or you prefer fund investing, Capitalize can recommend a brokerage firm that fits those preferences.

Fees

Capitalize is a completely free service as the company uses IRA partners that provide compensation when clients use them. The IRA provider may incur their fees, however.

No matter what provider you go with, all services rendered through Capitalize are free to use.  Capitalize partners with several major brokerages, therefore, you have many options when it comes to choosing a brokerage firm.

It should be noted, however, that some brokerage firms have fees that aren’t linked to Capitalize that you will be responsible for.

Who is Capitalize Best For?

Capitalize is perfect for someone who has never done a 401(k) and may feel a bit intimidated by the process. Capitalize offers a team of experienced rollover experts who will guide you through the entire process.

Paperwork and financial jargon can often be overwhelming, especially when you already have other priorities. Capitalize handles all the necessary paperwork and makes sure that it is filled out and filed correctly.

Compare to Other Providers

Rocket Dollar
Rocket Dollar Logo
  • Fees: $15/Month, Plus a One-time $360 Setup Fee
  • Minimum Investment: $0
  • Promotion: No current promotions
Alto IRA
Alto Logo
  • Fees: Starting at $10/mo or $100/yr
  • Minimum Investment: Varies by investment
  • Promotion: No current promotions
Augusta Precious Metals
APM logo
  • Annual Fee: $180
  • Minimum Investment: $50,000
  • Promotion: Fees waived (depending on the investment amount)

Should You Use Capitalize?

If you are critical about knowing where your money is and like to keep close tabs on your financial accounts, there may be little to no need to utilize Capitalize services.

However, if the thought of dealing with past employers to access your 401(k) account seems daunting, you could greatly benefit from a relationship with the experts at Capitalize.

Capitalize FAQ’s

Now that you have the foundation of what Capitalize can do, you may still have some other questions such as if Capitalize is a genuine company and how it works.

Capitalize is the only retirement savings company that ensures your money works for you, but you may still have other questions.

Is Capitalize a legit company?

Capitalize has a 5-star rating and is a verified company on the communal review website Trustpilot, but not rated by the Better Business Bureau.

Capitalize applies safeguards to keep your sensitive information protected from theft and loss. The company currently does not have coverage by FDIC.

Yet they are highly rated and have trusted social media presences.

How does Capitalize work?

Capitalize has streamlined the process, allowing you to skip the paperwork and directly access a simple online experience. The Capitalize team of rollover concierges are ready to help you.

Capitalize partners with leading IRA providers to help you compare options and pick an IRA that best fits your needs.  The first thing Capitalize will need access to is where your 401(k) is located, whether it is with a current or previous employer.

After that, their team will get right to work helping you to select an IRA that will suit your financial needs.  The Capitalize team handles all the details, from managing paperwork to making phone calls and coordinating the transfer.

Your money will be easy to monitor and you will receive long-term support from Capitalize.

How does Capitalize make money?

The service is free to use since Capitalize earns commissions whenever you open a new account. Many of the brokerage firms they partner with pay commissions for referrals to use their service.

Despite this, Capitalize has options not just limited to their partnerships. Other brokerage firms are available through Capitalize, however, they may include their fees.

Therefore, it is beneficial for both parties to use the brokerage firms that Capitalize partners with.

Should you rollover your 401(k)?

While contemplating a 401(k) rollover is up to the individual’s needs, consolidating your old retirement accounts makes financial sense since it is easier to keep track of your savings.

Another benefit of moving away from a 401(k) is ensuring your money stays with you and not your employer, as well as avoiding hidden fees.

Capitalize

Capitalize will find, consolidate, and roll over your retirement savings into one account — for free.

Capitalize icon
  • Editor Rating
  • Rated 4 stars
  • 80%

  • Capitalize
  • Reviewed by:
  • Published on:
  • Last modified: May 28, 2022


You may also like