Retirement rollovers operate in a dark world that is filled with terrors. Non-transparency and deception block out fiduciary light.
Financial predators transfer low cost 401(k) funds into expensive house products.
The end result is you end up financing the salesman’s retirement rather than your own.
These people should give retiree’s the creeps and rightly so.
CNBC’s excellent reporter Darla Mercado, wrote a terrific article on this undercovered but hugely important issue.
Newsflash- It’s not just serial offender Well’s Fargo doing this stuff.
One of my contributions was this massive understatement, “They will try to take you out of your 401(k) and put you into a suboptimal IRA rollover,”
Maybe I was British in another life.
Read the rest here.
