FiPath is an online site that provides comprehensive, independent, unbiased retirement planning content and analytical tools so consumers can take control of their retirement planning. They recently released a new tool to help those who need to roll over their 401k to an IRA. The FiPath Express Rollover Center is the only tool of its kind in the industry. No other product enables the consumer to compare multiple options, based on their own interests and criteria, to select the perfect rollover solution for them. The FiPath Express Rollover Center is comprehensive, informative and easy to use. Within a few minutes a consumer can find the right option for them, saving hours of tedious research.
The FiPath Express Rollover Center lets you choose whether you would like to work with a financial advisor or financial services firm when you rollover your 401k to IRA. If you want you can choose expert financial advisor access since not all consumers want to manage the 401k rollover process on their own. For them, they have created the option to search through a universe of financial advisors chosen specifically for their expertise in helping consumers handle a 401k rollover. All advisors are presented based on distance to a consumer’s zip code. When using the tool you can reach out to up to 5 advisors, who will then contact you via phone or email depending on which you prefer. You can then select which of the advisors you wish to work with. You are in complete control of the process at all times. You can select who you want to work with or whether you want to work with anyone. If you decide not to work with an advisor, you will not be bothered with any followup phone calls or emails. All advisors have been screened by FiPath for expertise on rollovers.
You can also choose to work with a financial services firm. For consumers who wish to minimize costs, the ability to find a brokerage or mutual fund firm to work with directly is a great way to keep expenses down. FiPath allows consumers to search based on their interests, such as the existence of local branches or different investment vehicles, to find the firm that best meets their needs. All firms are presented based on average annual trading costs, from lowest to highest. All firms are compared apples-to-apples on relevant metrics – cost, products offered, annual fees, account minimums, etc — so consumers can quickly and easily compare firms. FiPath has given each firm a “FiPath Score”, which compiles scores from multiple industry sources (JD Powers, Barrons, etc) as well as FiPath’s own evaluation of each firm’s offering. Some firms are highlighted as best for specific types of investors – “First Time Investors”, for instance, or “Active Traders”. This is based on FiPath’s independent evaluation of each firm’s offering. When a firm makes a specific offer for new accounts, FiPath has included that too so the consumer can always get the best deal.
It is important that you spend time on your 401k retirement planning. You can save a lot of money by rolling over your 401k to an IRA. Depending on the employer, you may pay hundreds of dollars a year in management and custodial fees for keeping your money in an ex-employer’s 401k plan. Money in a 401k plan can only be invested in employer-selected investment funds. With an IRA, you have full control of your money. Because of the lower fees and broader choices that an IRA enables, money invested through an IRA will typically grow at a higher rate of return. This could mean tens of thousands of dollars more in an IRA savings account upon retirement. If you are looking to convert a 401k you need to check out the FiPath Express Rollover Center.