Should I move funds from large bank with high fees even though there will be high gains?

I am extremely dissatisfied with the high fees on my mutual fund investments at a large bank. The investments are easily moved. If I decide to move them, I'm left with about $110k with $29k in capital gains. The expense rates are between .6% and .7%. I hate to leave any of them at this bank. Should I leave them there until some point in the future when I need the money? Or should I sell them, eat the taxes and take advantage of lower fees somewhere else for the next ten to 20 years? 

Banking, Investing, Taxes
Answers
Sort By:
Most Helpful
4 days ago
0% of people found this answer helpful

While fees are an important consideration, 0.7% on $139,000 is about $973 per year. Lower your fees to Vanguard's average fee of 0.12% and you will still create a cost of $166 per year. While you could use ETF's to lower the cost even further, you will likely still have some cost to purchase the ETFs. No matter what you do, it will take between 4 - 5 years to breakeven on the tax hit. After that you would be better off with a less expensive investment vehicle. Fees and taxes are the two biggest controllable expenses to investing.

5 days ago
2 weeks ago
4 days ago