Investors have nearly $500 billion in assets sitting in 401(k) plans with their previous employers or in IRAs, according to a report by Spectrem Group of Boston. These untapped rollovers are a tremendous opportunity for mutual fund companies, according to the study, Spectrem's Ultra High Net Worth Report.
In addition, two thirds of ultra high-net-worth investors have an IRA rollover account and half have multiple IRA accounts.
"Many wealth managers are focused solely on the investable assets of their clients. They often overlook assets held in outside IRA rollover accounts or qualified employer-sponsored retirement plans," said Ann Mahrdt, a director with Spectrem and author of the report.
Affluent investors, especially, could use help with their asset allocation and tax management, Mahrdt added.
