I opened a ROTH IRA through an advisor 5 years ago. I was/am very ignorant of investing. One of my friends who is more savvy recommend I look into ditching the advisor and doing it myself to save on fees. I looked through my statements and saw around $300 advisor fees charged to my account quarterly for 2025. That's around $1200 a year in fees! I checked 2021-2024 and it was only a $40 fee once per year during those years which is a relief. I believe this new advisor fee is due to a change I made with my advisor last year. I don't think the advisor did anything shady. They more than likely did mention fees but I probably didn't ask enough questions about it. My friend also made me aware of all the "invisible" fees associated with actively managed accounts from trades.
So now I'm looking to course correct and avoid any addition advisor fees. I'm considering transferring my ROTH IRA to Robinhood because a friend told me about their 3% match for IRA transfers and contributions, or Fidelity since that's what my 401k is in and it'd be nice to have it all in once place. I am aware that I need to do a direct transfer of a ROTH to a ROTH, not withdraw what I already have. Are there any other things I should consider before transferring a ROTH IRA between brokerages? I want to make sure I do my due diligence before making a costly mistake.
Next. Once I transfer to the new brokerage to manage the ROTH myself, I want to sell everything that the advisor had me in. I did a bit of research and the consistent thing I found was that they had high(er) expense ratios. My friend also said they had me in more things than necessary that probably overlapped. I was planning on doing the 3 Portfolio Setup of Vanguard mutual funds. The split would be 80% stock(US and Foreign) and 20% bonds. Vanguard seems like a safe bet based on the research that I've done. I'm not looking to do anything fancy or game the market. I'm just going to max my contribution each year, then sit and hold for 30 years.
Is there anything else I should be aware of or cautious about when it comes to any of the things I mentioned above? Transferring a ROTH IRA to a ROTH IRA, then selling everything my advisor had me in, then buying the Vanguard mutual funds in a 3 Portfolio Setup. I feel like that should be simple and straightforward but I want to do my due diligence and educate myself first. I know ROTH stuff grows tax deferred but would any of the stuff I plan on doing have any tax implications?
Any help is appreciated.