Performing an IRA rollover has long been an important strategy in helping to meet retirement objectives. But how do you know if a rollover may be the right strategy for a specific client?
Certainly, rollovers are not appropriate in all situations, so it’s important to ask all the applicable questions before finalizing a rollover decision.
The IRA Rollover Checklist will give you many of the essential questions that should be addressed in assessing if moving a client’s funds from his or her current option to a new IRA makes sense.
Barring any circumstances that would not be in the client's best interest, there are several reasons a client might consider a rollover.
Rollovers can help a client:
Related Article: DOL Rule and IRA Rollovers (Survey Results)
While an IRA rollover may be in the best interest of some clients, there may be instances in which leaving the assets in the current plan may be the best option. Below are some questions that you may want to ask as you help your client evaluate whether or not an IRA rollover is in his or her best interest.
For a more detailed list of questions, including the list above, please refer to the IRA Rollover Checklist.
Please be sure to follow your broker dealer's procedures and guidelines with regards to IRA Rollovers.
If you have any additional questions, please feel free to contact Retirement Strategies Group at (800)722-2333 or e-mail us at RSG@PacificLife.com.
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.
No bank guarantee • Not a deposit • Not FDIC/NCUA insured • May lose value • Not insured by any federal government agency
For financial professional use only. Not for use with the public.