March 28, 2017

If you have IRAs or 401(k) accounts in different places, it may make sense for you to roll them over into one IRA.* Aside from making your life simpler and more convenient, consolidating accounts into one account could be beneficial. Here are just a few:

  • Better Management of Assets: Having just one account to keep track of makes managing your investment performance much simpler.
  • Potentially Better Returns: Consolidating allows you to make your investments better work together because you have more control of your strategy. Additionally, with a 401(k) account, you may be limited in your investment options to those that the account administrator offers; with an IRA, you are given a wider range of investment options.
  • Reduce Fees and Commissions: With multiple accounts, you may be charged broker fees for each. Moving everything under one roof could potentially lower your costs and grant you a fee reduction depending on your holding size.
  • The Benefit of One Advisor:  Having everything under one roof gives you the benefit of having one financial advisor guiding all your invested dollars.

Before you decide to move anything, you should talk with a financial advisor to ensure it’s the best approach for you as well as to avoid any mistakes that may cause a tax issue. As the CFS** financial advisor at 1st United Credit Union, Rahil can answer questions about consolidating retirement accounts and help provide direction on what’s best for you. Give him a call at (925) 598-4718 or schedule an appointment today.

Brought to you by...

Rahil Machiwalla
CUSO Financial Services, L.P.*
Financial Advisor
(925) 598-4718
CA Insurance Number: 0G20361

Schedule an Appointment

*Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.

**Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. Please consult a qualified tax advisor for specific tax advice.