So my parents started a brokerage account for me when I was younger with American Funds. This account has about 60k and is fully vested in ANCFX – american funds fundamental investors class A.
Here are my questions:
Should I transfer any or all of this account to an institution like Vanguard and invest in similar low cost etfs (like VTSAX for example)? If I do transfer them, will I have to pay taxes on all capital gains since ANCFX isn’t offered elsewhere?
Why I ask:
American funds seems to have high expense ratios (.61 for ANCFX) and says it has front load fees. I already have a roth IRA with Vanguard and it seems like a no brainer but I’m curious of the tax implications and would appreciate any feedback. Thank you.