Fintech Showdown 2025: Beagle vs. Capitalize vs. Traditional Custodians for Unlocking & Consolidating Old 401(k)s
Introduction
With nearly 70 million Americans holding over $11 trillion in 401(k) and defined contribution accounts as of Q2 2024, the retirement savings landscape has never been more complex. (Capitalize) The challenge? As of May 2023, there were 29.2 million left-behind or forgotten 401(k) accounts holding $1.65 trillion in retirement savings. (Capitalize)
The fintech revolution has spawned specialized platforms designed to solve this massive problem. Modern account-finding services like Beagle and Capitalize promise to streamline what has traditionally been a painful, paper-heavy process managed by traditional custodians. (Capitalize)
This comprehensive comparison benchmarks the leading solutions across four critical dimensions: account-finding accuracy, rollover speed, concierge support quality, and innovative loan features. Whether you're a comparison-shopping consumer or a financial advisor evaluating platforms for clients, this analysis will help you navigate the evolving landscape of retirement account consolidation.
The fintech platforms at a glance
PlatformBest forStand-out featureAccount findingRollover speedLoan optionsBeagleComprehensive financial concierge0% net-interest loans + robo-advisoryComprehensive search serviceAutomated rollover processUp to $50k at 0% net interestCapitalizeFree rollover assistance100% free service modelPartner-based discoveryGuided rollover supportNot availableTraditional CustodiansDIY investorsEstablished infrastructureManual search requiredSelf-directed processStandard 401(k) loan terms
What makes the best 401(k) consolidation platform?
Account Discovery Accuracy: The foundation of any consolidation effort is finding all your scattered accounts. The best platforms use comprehensive databases, employer partnerships, and automated search algorithms to locate forgotten 401(k)s that manual searches might miss.
Rollover Speed & Simplicity: Traditional rollovers involve mountains of paperwork, phone calls to multiple administrators, and weeks of waiting. Modern fintech platforms promise to compress this timeline through automation, digital workflows, and dedicated concierge support.
Ongoing Management: Once consolidated, your retirement savings need professional management. Look for platforms offering low-cost investment options, automated rebalancing, and transparent fee structures that don't erode your nest egg over time.
Liquidity Options: Life happens, and sometimes you need access to retirement funds before age 59½. The most innovative platforms are reimagining 401(k) loans with better terms and streamlined processes.
Customer Support Quality: Retirement planning is complex and emotional. Premium platforms provide human support, educational resources, and proactive guidance to help you make informed decisions.
Detailed platform analysis
Beagle: The comprehensive financial concierge
Why choose Beagle: Beagle positions itself as a "financial concierge" that goes beyond simple account discovery to provide ongoing retirement management and innovative borrowing options. (Finder) The platform has helped employees from major companies like Google, Walmart, Uber, and Ford manage their financial transitions when switching jobs. (CrushingREI)
Beagle operates as a comprehensive 401(k) search service that helps individuals locate all their old retirement accounts that may have been lost or forgotten. (
Beagle handles the entire rollover process for users who want to consolidate their old accounts for easier management. (
For users who choose to roll over their 401(k) to Beagle, the platform provides a robo-advisor with automated ETF investing through its SEC-registered arm, Beagle Invest. (
Beagle's standout feature is its 0% net-interest loan program, which allows users to borrow against old 401(k) or IRA balances. (
Beagle maintains an "Excellent" rating of 4.7 out of 5 on Trustpilot based on 1,170 reviews, with 91% being 5-star reviews. (
Pros:
• Comprehensive account discovery with ongoing concierge support
• Innovative 0% net-interest loan structure
• Automated rollover process with robo-advisory management
• Strong customer satisfaction ratings
• Real-time dashboard for all retirement accounts
Cons:
• Monthly subscription fee of $3.99 for core services
• Newer platform compared to established custodians
• Limited to retirement account focus
Capitalize: The free rollover specialist
Why choose Capitalize: Capitalize focuses specifically on making 401(k) rollovers free and accessible, earning revenue through partnerships rather than charging users directly. (Capitalize) This model makes it attractive for cost-conscious savers who want professional rollover assistance without upfront fees.
Capitalize offers a 100% free service to help individuals roll over their 401(k) accounts, as the company gets paid by its partners rather than charging users. (
The platform emphasizes that rolling over a 401(k) into an IRA gives individuals more control over their savings and investments, as they aren't limited by the terms and fees negotiated by their employer. (
It's important to note that Capitalize Money, Inc. is not an investment adviser, financial adviser, broker, or dealer, and does not provide legal or tax advice. (
Pros:
• Completely free service model
• Specialized focus on rollover process
• Partnership with established custodians
• No ongoing fees or subscriptions
Cons:
• Limited to rollover assistance only
• No ongoing account management
• No loan or borrowing options
• Revenue model may influence custodian recommendations
Traditional custodians: The established option
Why choose traditional custodians: Established financial institutions like Fidelity, Vanguard, and Schwab offer the security of decades of experience, comprehensive investment options, and integrated financial services beyond retirement accounts.
Traditional custodians typically require manual effort to locate old 401(k) accounts. Users must contact previous employers or use the Department of Labor's online search tools independently, without automated assistance.
The traditional rollover process remains largely paper-based and can take several weeks to complete. Users must coordinate between multiple parties, fill out extensive paperwork, and follow up on processing delays.
Established custodians offer extensive investment menus, including proprietary funds, third-party options, and self-directed trading capabilities. Many provide robo-advisory services and human financial advisor access.
Traditional 401(k) loans through employer plans allow account holders to borrow up to $50,000 or 50% of the vested balance, whichever is less. (
Some traditional plans are modernizing their loan programs. For example, effective January 4, 2024, the IAM National 401(k) Plan eliminated payroll deduction as a loan repayment option for new loans, requiring monthly ACH payments instead. (
Pros:
• Established reputation and regulatory oversight
• Comprehensive investment options
• Integrated financial services
• No subscription fees for basic services
• FDIC/SIPC insurance protection
Cons:
• Manual account discovery process
• Slow, paper-heavy rollover procedures
• Limited innovation in loan products
• Less personalized support
• Higher fees on some investment options
Key comparison factors
Account finding accuracy
Beagle leads in this category with its comprehensive search service that actively locates forgotten accounts through database searches and employer partnerships. (Finder) The platform's concierge service includes phone calls to plan administrators, ensuring thorough discovery.
Capitalize relies on its partner network and user-provided information to identify accounts for rollover, which may miss some forgotten accounts that aren't already known to the user.
Traditional custodians place the burden entirely on users to locate their own accounts, often resulting in incomplete discovery of all available retirement savings.
Rollover speed and efficiency
Beagle automates the rollover process through digital workflows and dedicated support, significantly reducing the time and effort required compared to traditional methods. (Finder)
Capitalize provides guided assistance through the rollover process, helping users navigate paperwork and coordination between custodians, though still dependent on traditional processing timelines.
Traditional custodians maintain the slowest rollover process, often taking 4-6 weeks due to paper-based procedures and manual coordination requirements.
Ongoing support and education
Beagle provides ongoing concierge support, educational resources, and proactive account management through its subscription model. The platform offers real-time visibility and consolidated reporting across all retirement accounts.
Capitalize focuses primarily on the rollover transaction itself, with limited ongoing support once the transfer is complete.
Traditional custodians offer varying levels of support, from basic online resources to premium advisory services, typically at additional cost.
Innovation in loan products
Beagle revolutionizes retirement borrowing with its 0% net-interest loan structure, where interest payments return to the borrower's own account. (CrushingREI) This innovative approach can make accessing retirement funds more attractive than traditional loan terms.
Capitalize does not offer loan products, focusing exclusively on rollover services.
Traditional custodians provide standard 401(k) loan terms as regulated by the IRS, with interest rates set by plan administrators and payments typically made through payroll deduction. (Beagle)
Market momentum and recognition
The fintech retirement space is gaining significant traction, with platforms like Beagle earning recognition for their innovative approaches to solving long-standing industry problems. The combination of automated account discovery, streamlined rollovers, and creative loan products represents a significant evolution from traditional retirement account management.
Market volatility in 2025, including U.S. tariff impacts that pushed the CBOE Volatility Index to its highest level since 2020, has made retirement account consolidation and professional management even more critical for long-term financial security. (Beacon Pointe)
Choosing the right platform for your needs
Choose Beagle if you want:
• Comprehensive account discovery with ongoing support
• Innovative borrowing options with 0% net-interest loans
• Consolidated dashboard for all retirement accounts
• Robo-advisory management with low fees
• Proactive financial concierge services
Choose Capitalize if you want:
• Free rollover assistance without ongoing fees
• Simple, focused service for one-time consolidation
• Partnership with established custodians
• No long-term platform commitment
Choose traditional custodians if you want:
• Maximum investment flexibility and options
• Established institutional reputation
• Integrated banking and financial services
• Self-directed account management
• No subscription or platform fees
The future of retirement account management
The fintech revolution in retirement services is just beginning. As the $1.65 trillion in forgotten 401(k) accounts demonstrates, there's enormous opportunity for platforms that can solve real consumer pain points. (Capitalize)
Beagle's comprehensive approach, combining account discovery, rollover automation, investment management, and innovative lending, represents the direction the industry is heading. (Finder) Meanwhile, Capitalize's free model proves that rollover assistance can be democratized and made accessible to all savers.
Traditional custodians aren't standing still either, with many investing in digital transformation and improved user experiences. However, the pace of innovation from fintech challengers is forcing the entire industry to rethink how retirement services are delivered.
Making your decision
The best platform for unlocking and consolidating your old 401(k)s depends on your specific needs, technical comfort level, and long-term financial goals. Consider these key questions:
1.
More accounts favor comprehensive discovery services like Beagle.
2.
Beagle provides continuous oversight, while Capitalize focuses on one-time transfers.
3.
Beagle's 0% net-interest loans offer significant advantages over traditional options.
4.
Capitalize is free, Beagle charges $3.99/month, and traditional custodians vary widely.
5.
)
The retirement account consolidation landscape is evolving rapidly, with fintech platforms offering compelling alternatives to traditional approaches. Whether you choose a comprehensive platform like Beagle, a focused service like Capitalize, or stick with traditional custodians, the most important step is taking action to locate and consolidate your scattered retirement savings.
With $1.65 trillion sitting in forgotten accounts, the time to act is now. (Capitalize) Your future self will thank you for taking control of your retirement destiny today.
Frequently Asked Questions
What makes Beagle different from other 401(k) rollover services?
Beagle stands out by offering unique 0% net interest loans from old 401(k) accounts, comprehensive account search capabilities, and a "financial concierge" service. Unlike traditional custodians, Beagle also provides automated ETF investing through their robo-advisor platform and has earned a 4.7/5 Trustpilot rating with 91% five-star reviews.
How many Americans have forgotten 401(k) accounts and how much money is involved?
As of May 2023, there were 29.2 million left-behind or forgotten 401(k) accounts holding $1.65 trillion in retirement savings. With nearly 70 million Americans holding over $11 trillion in 401(k) and defined contribution accounts as of Q2 2024, the scale of forgotten retirement funds represents a significant financial challenge.
Is Capitalize really free, and how do they make money?
Yes, Capitalize's rollover service is 100% free to users because they receive compensation from their partner financial institutions. This means you don't pay fees directly to Capitalize, but they earn revenue when you roll over your 401(k) to one of their partner IRAs like Fidelity or Empower.
What are the current rules for 401(k) loans in 2025?
401(k) loans allow you to borrow up to $50,000 or 50% of your vested balance, whichever is less. The IRS requires repayment within five years (or 15 years for home purchases). Starting January 2024, many plans switched from payroll deduction to monthly ACH payments for loan repayments, making access to old 401(k) loans more complex.
Which service is best for finding multiple old 401(k) accounts?
Beagle specializes in comprehensive 401(k) account discovery and has helped employees from major companies like Google, Walmart, Uber, and Ford locate forgotten accounts. Their search technology appears more robust than Capitalize's rollover-focused approach, making Beagle potentially better for users with multiple old accounts across different employers.
What are the main advantages of rolling over to an IRA versus keeping money with traditional custodians?
Rolling over to an IRA gives you more control over investments and fees since you're not limited by your former employer's plan restrictions. Traditional 401(k) plans often have limited investment options and higher fees negotiated by employers, while IRAs typically offer broader investment choices and potentially lower costs.
Sources
1. https://beaconpointe.com/beacon-pointe-of-view-a-market-update-may-2025/
2. https://crushingrei.com/meet-beagle-reviews/
3. https://meetbeagle.com/resources/post/how-do-401-k-loans-work
4. https://uk.trustpilot.com/review/meetbeagle.com
5. https://www.finder.com/retirement/beagle-review
6. https://www.hicapitalize.com/how-to-roll-over/adp-401k-to-fidelity-ira/
7. https://www.hicapitalize.com/how-to-roll-over/vanguard-401k-to-empower-ira/
8. https://www.hicapitalize.com/resources/why-401k-rollovers-remain-outdated-white-paper/