Securities Fraud and Mismanagement

Attorney and Counselor at Law

303-300-5022 / 844-253-5858 Toll Free

Did the actions/inactions of my broker fall below the required standard of care?

We’ll tell you, for FREE.

FINRA (the Financial Industry Regulatory Authority) has posted its third warning this month concerning potential loss investors face by inappropriate recommendations to rollover 401K accounts to private brokers.

 ” ‘Workers and retirees should understand that in many cases they don’t have to act immediately upon switching jobs or retiring. Taking the time to compare costs and investment options can help you keep your nest egg from suffering unnecessary cracks,’ said Gerri Walsh, FINRA’s Senior Vice President for Investor Education.”

FINRA has identified the following tips to avoid needless loss of funds when considering the rollover of a 401K:

Minimize taxes by rolling Roth to Roth and traditional to traditional. No taxes are due if you roll over assets from a traditional plan to a traditional IRA, or if you roll over your contributions and earnings from a Roth plan to a Roth IRA.

Be wary of “free” or “no fee” claims. Even if there are no costs associated with a rollover itself, there will almost certainly be costs related to account administration, investment management or both.

Realize that conflicts of interest exist. Financial professionals who recommend an IRA rollover might earn commissions or other fees as a result.

Understand fees and expenses. Both employer-sponsored plans and IRAs involve investment-related expenses and plan or account fees.

Compare investment options and other services. An IRA often enables you to select from a broader range of investment options than are available in an employer plan, but might not offer the same options your employer plan does.

If you believe your rollover may have been inappropriate, please call 303-300-5022.