Capitalise is a service that helps you roll over your old employer’s 401k when you leave your job. They also help with rollovers from 403(b), 457(b), 401(a), and TSP plans into IRAs. Capitalise Review.
Capitalise is generally free for most customers.
Rolling over a 401(k) from your old employer to a new financial institution can seem like a lot of work. There are also penalties and tax implications to be aware of if it isn’t done right.
You can hire a financial advisor to help you through this process. But that can be costly. Alternatively, you can sign up with Capitalise.
Capitalise is a free service that walks people through the rollover process. You might wonder how they make money. We’ll cover that and more in our full Capitalise review below. Capitalize Review
What Is Capitalise?
Capitalise (Capitalise Money, Inc.) is a fintech that helps people roll over their 401(k)s or 403(b)s. It was founded in May 2019 and is based in New York City. Its founders are Christopher Phillips and Gaurav Sharma (CEO).
Capitalise has raised over $30 million in funding since launching in 2020 and has been recognised as one of TIME’s 100 Best Inventions, a World Changing Idea by Fast Company, and a Forbes Top 50 Fintech. Capitalize Review
What Does It Offer?
Capitalize helps people rollover their 401(k)s. It does this at no cost. However, if a person decides to go with one of the IRA providers on the Capitalize platform, the company will receive a commission.
Capitalize will find your 401(k) or 403(b) at your old employer and walk you through the process of rolling it over to another financial institution. Capitalize currently only supports rolling a 401(k) into an IRA.
An IRA usually costs less to maintain than a 401(k) and typically has more investment options. However, if you already have a new 401(k) with your new employer, note that Capitalize won’t be able to help you roll your old 401(k) into it. Capitalize Review
Fully Hands-Off Experience
If you’ve never done a 401(k) rollover before or don’t want to do it by yourself, Capitalise might be the answer. You’ll have someone available to see you through the entire process.
Don’t know which institution manages your 401(k)? No problem. All you have to do is tell Capitalise which company you worked for and it will take it from there. If it can’t immediately find your 401(k) provider using its database, its human experts will track it down.
Once your 401(k) has been found and you’ve chosen a new IRA provider, Capitalise will take care of all the administrative paperwork for you. They’ll keep you updated throughout the process and will let you know once everything is completely set up. Capitalize Review
Generally Free To Use
The vast majority of customers pay no fee to use Capitalise. This is because Capitalise partners with various IRA providers that cover the costs. Capitalize Review
However, there are cases when you may have to pay. There are two options:
- Use Capitalize’s Basic Rollover package, which remains free – this is a self-guided rollover process where customers essentially DIY
- Pay for the Premium experience – if a customer feels like they need the premium experience and wants to roll into a non-partner IRA, then they’re presented with the option to pay a small fee for that. Capitalize Review