FINRA Warning on Advising 401(k) Rollovers
Perhaps you’ve seen the InvestmentNews piece in the January 6 issue titled “Finra warns against conflicts in retirement-plan rollovers.” My guess is that in most cases one is better served to move defined contribution plan money into an IRA upon leaving the employer. Am I misguided?
Permalink Submitted by Alan - IRA critic on Fri, 2014-01-10 19:38
It depends on the circumstances. Maybe not if your 401k has good low expense investment options and does not restrict your ability to manage it after you leave, but you end up in higher cost, higher commission products as a result of doing the rollover.