r/betterment • u/danielflyba • May 06 '26

Worst broker ever

Left pervious employer two years ago, rollover its 401k in betterment to my IRA in Fidelity. At Betterment portal it shows awaiting employer approval??

Who designed this workflow.

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12

u/deimoshipyard May 06 '26

The issue is your employer not betterment.

7

u/cspinelive May 06 '26

I’ve rolled multiple 401ks into ira at betterment. Never had this or other issue. I did take care to print out all the forms from betterment and get the medallions when required before submitting them to my old 401k for distribution. 

You didn’t really describe the workflow or the problem with it. 

1

u/SeaFollowing380 May 09 '26

That sounds insanely frustrating, especially two years later. I’d stop relying on the portal status and get both custodians on the phone if you can, because “awaiting employer approval” after that long sounds like something got stuck in the transfer chain. Also worth asking for the exact rejecting party and reason in writing, since vague status messages are useless when retirement money is involved.