IRA

IRA Rollover Opportunities are on the Rise

March 5, 2013

IRA rollover opportunities are on the rise. Start unlocking these opportunities today by asking two simple questions.

I am sure that we have all seen and read many of the statistics that the IRA rollover market is on the rise. For example, a recent LIMRA study estimated that lump sum distributions for retiring and terminated employees nearly reached $400 billion in 2012 – and is expected to reach just about $600 billion by 2016. Knowing this information, is all the more reason to incorporate IRA rollovers into your business practice.

One of the pleasures of working in the Retirement Strategies Group is the ability to talk with financial advisors that offer product solutions offered by Pacific Life to their clients. Discussion topics typically range from various types of employer sponsored plans (e.g. SEPs, SIMPLEs, Individual(k) & defined contribution plans) to annuity contract structuring and distribution planning opportunities (RMDs and inherited IRAs).

However, with IRA rollover opportunities expected to increase to $600 billion by 2016, it's no wonder that we have experienced a surge in IRA rollover related calls over the past couple of years. As you can imagine, many of these calls have focused around the first wave of baby boomers near or in retirement, but interestingly enough there were just as many rollover related calls regarding clients under age 59½ as well as clients over age 70.

 

Key Questions

As you encounter more and more IRA rollover opportunities, consider initiating the client conversation with two simple questions:

Knowing the answers to these key questions about your clients is the first step to unlocking a number of planning opportunities, which may include:

  • Consolidation of retirement assets
  • Roth IRA conversions
  • In-service rollovers from employer plans
  • Ways to help increase Social Security benefits
  • Manage taxation of Social Security benefits
  • Understanding beneficiary options
  • Legacy planning

To help you better assist clients and prospects in different stages of their retirement plan, below are some brochures that may assist you in capturing more rollover assets.


IRA rollover opportunities are on the rise. Start unlocking these opportunities today by asking the two simple questions mentioned above.

For more ideas and details on managing your clients' IRA assets and rollovers, please feel free to contact Retirement Strategies Group at (800)722-2333, ext. 3939, or e-mail us at RSG@PacificLife.com.

Picture of Gary Pence

Gary is the Home Office Manager of the Retirement Strategies Group in the Retirement Solutions Division at Pacific Life. With over 24 years of experience in the financial industry and for the past 15 years, he has worked with the Retirement Strategies Group dedicated to helping advisors address complex tax, estate, charitable, and retirement planning issues for their clients and their tax and legal professionals.

Pacific Life, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor or attorney.

Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues. 

Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company. Variable and fixed annuity products are available through licensed third parties.

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