What is the difference between a Transfer and Rollover?

While the end result is still the same, funds are moved from one tax advantaged account to another with no tax implications or penalties, there is a slight difference. A rollover is a movement of funds from one custodian to another initiated by the client, usually to move an old 401(k) plan to an IRA. A transfer is initiated by AdvantaIRA and is done for IRA to IRA movement of funds.