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Don't "cash out," as you put it. If you want to open an IRA with direct stock purchases, then open up an IRA with one of the major online brokerage firms. There are several. I personally use Waterhouse Securities (PH 800-934-4415). There are other firms that folks are happy with. I am very comfortable and pleased in my dealings with Waterhouse (I have 5 accounts with them). Once you have the account opened up, let your brokerage firm do the "transfer" of funds from your current Fidelity IRA.

Read over the paperwork and be sure you want to leave Fidelity...for something better, not just different.

Waterhouse had NO IRA fees when I opened my accounts with them. I still pay no annual fees. But, there is a close out fee of $25, if I recall what the literature said accurately.

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