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5 misconceptions on IRA rollovers

IRA rollovers are a unique asset-gathering opportunity, a report released Monday by McKinsey claims. The problem for wealth managers, McKinsey notes, is that they have largely failed to mobilize their advisory forces, adding that less than half of brokerage clients receive help from their advisors on rollovers.

By Danielle Andrus | Updated on July 26, 2011

IRA rollovers are a “unique asset-gathering opportunity,” a report released Monday by McKinsey claims. The consulting firm found that over the next five years, rollovers are expected to drive between 40% and 50% of net new money for wealth managers and will total $7 trillion in assets or between 12% and 14% of all household assets by 2015.

The problem for wealth managers, McKinsey notes, is that they have largely “failed to mobilize their advisory forces,” adding that less than half of brokerage clients receive help from their advisors on rollovers.

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