Firstrade Partners with Capitalize to Streamline 401(k) Rollovers

Firstrade partners with Capitalize to simplify 401(k) rollovers, tackling $2.1T in forgotten retirement accounts.

Key Points:

• Firstrade integrates Capitalize’s API to let users locate and transfer old 401(k) plans directly into IRAs without leaving its platform.
• The move targets nearly 32 million abandoned retirement accounts, aligning Firstrade with peers like Public, Webull, SoFi, and Robinhood in simplifying rollovers.

The U.S. online brokerage Firstrade has partnered with Capitalize, a financial technology firm specializing in retirement transfers, to streamline the rollover of old 401(k) accounts into individual retirement accounts (IRAs) on its platform.

The collaboration comes as nearly 32 million Americans have abandoned workplace retirement accounts, leaving behind an estimated $2.1 trillion in assets, according to September data from Capitalize. Furthermore, the average forgotten 401(k) now holds $66,691, up nearly 18% from two years ago.

As job mobility increases, millions of workers also have accumulated “stranded” retirement plans with previous employers. Many of these accounts remain unmanaged or underutilized, often because rolling them over involves complex paperwork and lengthy processing times.

“This partnership gives Firstrade clients a more streamlined, digital-first way to prepare for retirement,” said John Liu, CEO of Firstrade. “By collaborating with Capitalize, we’re making it easier for investors to consolidate and manage their retirement accounts in one place.”

Firstrade Partners with Capitalize to Streamline 401(k) Rollovers

Capitalize’s application programming interface (API) is now fully integrated into Firstrade’s platform, allowing users to search for old 401(k) accounts, initiate transfers, and complete rollovers directly through Firstrade’s website or mobile app — without the traditional back-and-forth between plan providers.

Firstrade’s move follows similar partnerships by competitors Public, Webull, and SoFi, which all adopted Capitalize’s rollover technology in 2025. Robinhood integrated the system in 2023.

Capitalize reports that its platform has processed billions of dollars in transfers since launching in 2020. The firm uses secure data aggregation to locate old accounts and automates much of the documentation required by 401(k) plan administrators and financial institutions.

“We’re excited to partner with Firstrade to bring our seamless rollover experience to even more savers and investors,” said Gaurav Sharma, CEO and co-founder of Capitalize. “Together, we’re helping people consolidate their old retirement accounts and ensure their savings keep working for them.”

Founded in 1985, Firstrade offers commission-free trading in stocks, ETFs, options, and mutual funds, with no account minimums or maintenance fees on IRA products. Moreover, the firm recently expanded trading hours with its “20/5” overnight trading feature and continues to enhance its digital investing tools to attract global users.

As job changes become more frequent, financial experts warn that, consequently, fragmented retirement savings could pose long-term risks to retirement readiness. Therefore, partnerships like Firstrade’s with Capitalize aim to address this challenge by turning lost savings into active, managed investments.

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