Wells Fargo Bank IRA Rates
Wells Fargo Bank offers several types of IRAs, including Roth and Traditional options. Your contributions are put into FDIC-insured deposits. There is no fee to open an IRA with the bank, and no annual fee. Because this is a bank IRA, there are no activity requirements. There are also no fees to close or transfer a Wells Fargo IRA, and no low-balance fee.
You can invest IRA contributions in either a savings account or a CD. The bank’s savings account requires a $100 deposit and
currently pays just 0.05%. There are different CDs available, each with a $1,000 or $2,500 minimum. Interest rates depend
on your zip code, the term, and your balance. You can view current rates
under this link »
Wells Fargo Brokerage IRA Fees
The rates above are low, but Wells Fargo also has investment IRAs through its
brokerage service, WellsTrade. You pay nothing to set up an IRA here. There is no annual fee.
WellsTrade does not require any activity in an IRA. The broker charges $49.95 to close a retirement account, and there is also a $49.95 fee to transfer an IRA to another firm.
If you want professional help with investments, you can use Wells Fargo Advisors, their advisory service. This service charges either commissions or a percent of assets managed. Fees are negotiable based on your account size, and the percent fee ranges from 2.00% to 0.75%. The first meeting with an advisor is free.
Wells Fargo IRA Commissions at WellsTrade
Stock and ETF trades in a WellsTrade IRA cost $0. If you place a trade by phone, it costs $25.
The broker offers many mutual funds. The WellsTrade screener shows 9,845 funds open to new investors. Out of these, 2,558 have no load and no transaction fee. The charge for funds with a transaction fee is $35.
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Wells Fargo IRA Review
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Wells Fargo IRA Fees Comparison
Charging $49.95 to close an IRA is considered high compared to others. Vanguard and
Charles Schwab, for example, do not charge to close a retirement account.
WellsTrade’s $49.95 transfer fee is about average for the industry.
Best IRA Accounts
About Wells Fargo Brokerage
After merging with Wachovia, Wells Fargo became one of the largest brokerage firms in the U.S. They also offer full banking and lending services. The banking part is based in San Francisco, California, and the brokerage is in St. Louis, Missouri.
Wells Fargo has four IRA choices, with products from retirement CDs to full-service account management:
Safety Plan: An IRA as a FDIC-insured savings account. It has a very low return, but can help people near retirement save money on taxes with no risk.
Simplicity Plan: Lets IRA investors choose from about 40 no-load mutual funds.
WellsTrade: An online brokerage service within an IRA. You get access to mutual funds, stocks, and ETFs.
Wells Fargo Advisors: A full-service investment plan with access to live advisors.
Wellstrade Research
Wells Fargo’s research tools help account holders look into investment options and provide news and market updates. Markets and stocks can be tracked with a slight delay (10–15 minutes) and you can set up alerts for when a stock or ETF hits a certain value or changes in price.
Wells Fargo also provides commentary and strategy reports through its research portal. 93 analysts and 37 advisors share their views on everything from global bond markets to how Federal Reserve meetings could affect stock prices. You can save and share these reports, which helps you work with partners or advisors on news and trends that affect your portfolio.
In-Person Advice
Besides online advice, Wells Fargo customers can talk to an advisor in person. Wells Fargo has about 15,000 advisors and nearly 4,000 licensed bankers. There is a branch in every US state and in more than 70 countries. This wide network gives flexibility for customers who move or travel, so they can always get advice when needed.
Wellstrade Pros
- Research tools
- Asset allocation comparison
- Professional commentary and advice
- Access to Wells Fargo advisors nationwide and worldwide
- Easy to use
- Account summaries are organized with big font and color graphs
- Few clicks needed to reach account info and research tools
- Good search tool for securities
Wellstrade Cons
- High fees
- Higher online trading commissions than self-managed accounts at other brokers
- Fees for active management
- Limited online trading availability
- You must have a certain account type (WellsTrade) to trade online
Updated on 7/28/2025.
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