Affluent Investors Can Bring in Billions
With more than $350 billion in assets, affluent investors unhappy with their current employer-sponsored retirement plans have no misgivings about moving their funds elsewhere.
Cogent Research revealed that discovery in its “Investors in Action” report. The data showed that of the 25% of affluent Americans who have assets sitting in former employers’ retirement plans, about half (42%) said they are likely to roll over the assets into an IRA sometime within the next year. That group has approximately $350 billion in assets ready to shift.
Still, “most people are comfortable with a second opinion,” Niemann said. “Credit union advisers have to do two things. Know the plans at their major [select employee groups] and make themselves known to the human resources department.”
Having those tools in place can certainly aid members, particularly baby boomers, who are estimated to move trillions of dollars over the next decade, Niemann said. He’s not surprised at the number of investors who are willing to move into self-directed IRAs, saying the trend is expected to either stay constant or increase.