It also may allow your financial advisor to provide you with broader services and easily integrate your retirement accounts with a financial plan.
Having money in multiple accounts with different funds does not necessarily make your portfolio more diversified.
The 3/30/17 FInancial Services Roundtable event "Retirement Plan Portability and Public Policy: Unlocking the Potential in Portability" featured groundbreaking new research from EBRI, firmly establishing Auto Portability as a leading retirement security public policy initiative.
For active or separated participants and regardless of balance, an RCH Portability program can be tailored to your plan’s needs, while helping ensure that your participants are treated in the most fiduciary-friendly manner possible.
Each of the following options is different and may have distinct advantages and disadvantages.
When considering rolling over assets from an employer plan to an IRA, factors that should be considered and compared between the employer plan and the IRA include fees and expenses, services offered, investment options, when no fee withdrawals are available, treatment of employer stock, when required minimum distributions begin and some protection of assets or limited protection and some exceptions apply.
Diversification is not a guarantee of overall portfolio profit or protection against loss.
When you have multiple accounts, it can be more difficult to understand how much money you have and where it is.
Over time, you may even lose track of some older accounts.
Consolidating your accounts can save time by reducing the number of accounts you have and need to track.
As with any decision that has tax implication, you should consult with your tax advisor prior to making your final decision.
Ameriprise Financial Services Inc., and its affiliates do not offer tax or legal advice.