Fidelity is the most likely firm to be chosen by investors looking for somewhere to roll their 401(k) assets to.
A report released Thursday by Spectrem surveyed nearly 1,000 investors who had recently made a rollover or had the opportunity to rollover assets, and found nearly one-third chose Fidelity as their IRA provider. Vanguard was a distant second at 11%.
In many cases, there was a significant gap between the number of investors who considered a firm, and the number who actually selected that firm as their IRA provider. While one-quarter of investors considered Charles Schwab, just 7% ultimately chose to roll their assets over. Similarly, Vanguard, which was selected as the IRA provider by 11% of investors, was initially considered by 24% of investors. Fifteen percent of investors considered JPMorgan Chase, but just 4% finally decided to roll their assets to that firm.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
