Most financial advisors offer their clients casual IRA advice, which can take several forms.
The most common form is to integrate IRAs into a client's asset allocation program or portfolio review process. Other forms of casual advice include: suggesting conversions from Traditional to Roth IRAs, providing calculations or advice on minimum distributions, and advising on beneficiary changes.
None of these services typically generate new assets under management, product sales, or commissions – so they are not very lucrative for advisors. However, they can help to build client relationships and make clients' retirements more successful.
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