The theme this week on the Retirement Quick Tips Podcast is: How To Fire Your Financial Advisor

Today, I’m talking about what you need to know about the actual transfer process

• Usually fees are minimal ($75-$100/account transfer charge) and no advance notice is required. Once you’ve selected the company you’ll be working with, you’ll provide them with account statements. At this point, they should be able to tell you what fees or potential issues could be involved with the transfer once they see how the accounts are invested.
• 9 out of 10 times it’s pretty simple because you can usually transfer everything in-kind (explain), but there are exceptions:
• Annuities not out of surrender
• Proprietary funds that can’t be held elsewhere
• Illiquid investments

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance